adminLONDON. — Tottenham Hotspur, who need to find the money to pay for a new stadium, yesterday denied a newspaper report that owner Joe Lewis was seeking to sell the English Premier League club.
“Contrary to recent press speculation, neither the Club, nor its majority shareholder, are in any takeover discussions and the focus of the club is fully on delivering the new stadium project,” the north London club said in a statement.
Spurs have hired investment bank Rothschild to advise on the options to finance their planned move to a new 58 000-capacity stadium next to their current White Hart Lane ground.
The stadium development is expected to cost between 400 and 450 million pounds.
The Daily Mirror newspaper had reported that Lewis was ready to sell the club but added that he was seeking a price as high as 1 billion pounds ($1.6 billion). Lewis took control of the club in 2001.
A legal wrangle means Spurs are unlikely to be able to move to the new stadium in time for the 2017-18 season, meaning they will have to find a temporary home for a year. — Reuters
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