The Guardian reported that the son of former Conservative Vice Chairman and billionaire Michael Ashcroft has acquired a 3.4% stake in Tottenham club, marking the latest recent changes in the North London club. Public documents released by the London...
Public documents released by the London Stock Exchange yesterday showed that hotel businessman Andrew Ashcroft purchased 8023,942 shares of Tottenham last Friday. The specific price has not been disclosed, but according to Tottenham's recent valuation, the transaction volume may be about £100 million.
Lord Ashcroft is a long-term shareholder of Tottenham and once held about 4% of the club. As of Tuesday night, it was unclear whether Ashcroft would transfer the original shares to his son Andrew or nearly double the family's shareholding through a acquisition from a minority shareholder, which held a total of 13.42% of the club's shares before last week.
Spurs controlling shareholder ENIC Group has not sold any shares and firmly stated that the club will not sell. Levi suddenly resigned this month as the club's top director for 25 years, and Peter Charlington, a long-time consultant to the Lewis family, took over as non-executive chairman.
Tottenham then announced that it had rejected two initial acquisition intentions, one from Amanda Stavely's PCP Capital Partnership, and the other from the US-China consortium led by Roger Kennedy and Firehawk Holdings Co., Ltd. According to the Acquisition Committee, the club's official offer period will last until October 5, when the PCP and the consortium must formally submit an offer to acquire or announce that there is no such plan.
If there is evidence that the Ashcroft family has coordinated behavior, the Acquisition Committee may force it to issue a joint action statement. The acquisition guidelines stipulate that family members who hold shares in the same company will inevitably act in concert, but if there is evidence that they coordinate their shareholding, they will be handled in concert. Tottenham club declined to comment.
Andrew Ashcroft was formerly based in Belize. His father had significant commercial interests in the country. Andrew himself operated a hotel and changed his residence in 2021 after his then-partner, Jasmine Harting, was charged with manslaughter. Harting pleaded free from jail after pleading guilty, but Andrew gained custody of two children and moved to Turks and Caicos Islands to conduct new commercial projects.
source:bdkq 7m
