Billionaire faces major obstacle in completing minority takeover of Tottenham
Crystal Palace part-owner David Blitzer is interested in buying a stake in Tottenham Hotspur, but a former CEO of a Premier League club has now explained why the American investor is not in a position for a takeover.
Over the last 12 months, there have been plenty of rumours doing the rounds regarding a potential takeover or a minority investment into Spurs.
It was first reported that former Newcastle owner, Amanda Staveley held talks with Daniel Levy, and it subsequently emerged earlier this year that several American investors had shown interest in buying a stake in Spurs.
There have even been rumours over recent months that a group of private investors from Qatar have shown interest in a full buyout of Tottenham, but none of those deals appear to have progressed.
Why David Blitzer is not in a position for Tottenham takeover
Recently, some sources have indicated that David Blitzer, who owns an 18 per cent stake in Crystal Palace, might consider buying into Tottenham (TBR Football).
The 55-year-old has just approved the sale of his stake in MLS and NWSL sides Real Salt Lake City and Utah Saints for a combined £450m, but he is still thought to have a combined sports investment portfolio worth around £3 billion.
However, former Everton CEO Keith Wyness has now explained that unless Blitzer sells his stake in the Eagles, he will not be legally permitted to buy a stake in Tottenham Hotspur from ENIC.
Wyness told Football Insider: “David Blitzer has the money to take a minority Tottenham stake, after selling his stakes in the US clubs. However, he has a share in Crystal Palace. He would have to divest himself of that.
“John Textor is also there and he wants to sell his shares – it’s all complicated at Palace. Until that is sorted out, Blitzer cannot move forward with Spurs – you can’t have shares in two Premier League clubs.
“I think he would be welcome at Spurs, there may be a deal to be done – but there are some serious obstacles. I still think Qatar or Amanda Staveley’s group may be the ones to do a deal because of the serious issues Blitzer has.”
Spurs fans are running out of patience
It is clear that the supporters want to see a change at the top, with Spurs fans protesting in the thousands this season against ENIC and Daniel Levy.
Many of them feel that the current owners have simply not shown the ambition to get Tottenham where they want to be.
The anger of the fan base only looks set to grow as it has been widely reported that Spurs have to sell before they can buy this summer as they simply do not have the funds to make a big investment into the first team, given the state of their finances.
- READ MORE: Tottenham are in a worrying financial situation and expert says Daniel Levy is not the answer
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