Tottenham Hotspur Deny Sale Talks

September 11, 2014

Tottenham Hotspur have denied reports that owner Joe Lewis is in talks over a billion pound sale.

A report in British newspaper the Daily Mirror on Thursday claimed that Tottenham owner Joe Lewis had decided to sell the club and had set an asking price of £1 billion.

A club statement read: “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 report followed Tottenham’s announcement on Wednesday that they will have to leave White Hart Lane for a season after a legal challenge caused a delay in the construction of their new stadium.

The owners of an area of the site where the new arena is due to be built have launched a challenge at Britain’s High Court after being issued with a compulsory purchase order by the British government.

As a result, Tottenham have had to revise their construction program for the stadium, which had been due to be completed in 2017.

But Spurs said discussions over investment to fund the construction of the new stadium did not mean the club was for sale.

“The stadium redevelopment plans are a significant part of the future for both our club and the local area and represent a complex infrastructure project that requires funding,” the club’s statement added.

“Accordingly, we are at a stage where we are starting to engage with a number of financing institutions and potential funders in respect of the new stadium development project.”

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