Tottenham Hotspur acquisition by Cain Hoy Enterprises considered

Recently formed American private investment firm Cain Hoy Enterprises says it is considering a Tottenham Hotspur acquisition offer. Known as Spurs, the English Premier League club on Thursday said its owner Joe Lewis had no plans to sell.

Cain Hoy Enterprises, a Connecticut-based company that was publicly launched on September 11, however, said in a statement that it is in the initial stages of considering an all-cash offer for Spurs.

Spurs, which was founded in 1882, has hired investment bank Rothschild as its financial adviser for the plan to redevelop its stadium – White Hart Lane – from its current 36,000 seat capacity to 56,000.

Although a relatively successful and well known English football team, it has struggled to pull in significant revenue to compete with its London rivals Arsenal and Chelsea, partly because the stadium’s capacity is too small.

Senior Spurs insiders say it is highly unlikely an offer would be made before the club’s stadium redevelopment had progressed.

THFC (Tottenham Hotspur Football Club) said in an official bulletin:

“THFC has been in discussions with multiple providers of finance so that the optimum financing package for the project can be achieved and, in the course of those considerations, has met representatives of Cain Hoy. However, there are no ongoing discussions with Cain Hoy.”

According to owner Joe Lewis’ previous estimate, the club is valued at about £1 billion. However, until the new stadium project is underway, it is doubtful an interested buyer would offer anywhere near that amount.

Some UK newspaper are reporting that Spurs did indeed receive a preliminary approach from Cain Hoy. Matt Law, Football News Correspondent for the Telegraph wrote “Led by its London-born and based head of European investment, Jonathan Goldstein, Cain Hoy is believed to have communicated its interest in launching a takeover bid for Spurs.”

Tottenham Hotspurs
Tottenham Hotspur Football Club, usually referred to as Spurs, is located in Tottenham, North London.

About Cain Hoy Enterprises

In a press release on September 11, Cain Hoy says it was launched with a minority investment from Guggenheim capital, the parent company of global investment and securities firm Guggenheim Partners.

Cain Hoy founders include President of Guggenheim Capital Todd Boehly, and ex-Guggenheim executives Jonathan Goldstein and Henry Silverman.

Cain Hoy’s CEO is Henry Silverman, who has a worked in finance and real estate for several years. He had been Chairman and CEO of Cendant Corporation, and then Chief Operating Officer and Vice Chairman of Apollo Global Management.

Real estate specialist Jonathan Goldstein heads the European arm of Cain Hoy, which is based in London. He was Deputy Chief Executive of Heron International.

Mr. Sileverman said, regarding the launching of Cain Hoy:

“We are excited to announce the launch of Cain Hoy Enterprises. At Cain Hoy, we bring dedicated funding and financial expertise to the goal of creating value over the long term. Cain Hoy is permanently financed and we are patient investors. This gives us greater flexibility to pursue significant opportunities that need to mature and to develop over time.”

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