Iranian-American billionaire Jahm Najafi, chair of MSP Sports Capital, is set to launch a US$3.75bn bid for Premier League football club Tottenham Hotspur, according to a report in the financial press.
Citing two people with direct knowledge of the plans, the Financial Times reported on Wednesday that MSP Sports Capital is working with a consortium of investors to structure the bid with an approach to Spurs owner Joe Lewis and the club’s chair Daniel Levy a matter of weeks away.
The bid is set to be factored so that Najafi and MSP would put forward 70% of the capital, while others would contribute the remaining 30% - with these backers likely to come from the Gulf, and particularly Abu Dhabi.
The news comes as ownership of a number of leading Premiership clubs looks set to change hands with Manchester United and Liverpool both up for sale.
Chair Levy has also held talks with Qatar, reports last month stated.
A successful bid for Spurs is likely to be welcomed by some fans as it would see the end of the ownership of ENIC, where Lewis and Levy purchased a 26% stake from Lord Alan Sugar for £21.9mln back in 2000.
Despite a sparkling new stadium success on the pitch has been limited, and silverware has been absent, sparking calls for Levy to resign.
Involvement at Tottenham wouldn't be Najafi’s his first move into sport. He is a vice-chair of NBA side Phoenix Suns and has a stake in the McLaren F1 team.