Man Utd & Man City Premier League rivals in talks with 'prospective investors'

Tottenham Hotspur chairman Daniel Levy has revealed the Premier League club are “in discussions with prospective investors” in a bid to capitalise on the club’s “long-term potential”.

The Spurs chief announced Spurs were looking for an injection of equity when the club revealed their financial results.

Levy wrote: “To capitalise on our long-term potential, to continue to invest in the teams and undertake future capital projects, the club requires a significant increase in its equity base. The board and its advisors, Rothschild & Co, are in discussions with prospective investors. Any recommended investment proposal would require the support of the club’s shareholders.”

He added: “We expect commercial revenues to rise from third-party events, although this will not compensate for the lack of European football this season.

“Additionally, as reflected in these results, we expect the impact of rising costs, caused by geo-political events, to continue to impact all areas of our operations. Our ethos is clear – to be far-sighted and run the club sustainably. This involves strict control of our cost base, increased commercial and sponsorship revenues and consistent European participation, all of which are key to our ability to continue to invest in the squad and win top honours.

“Since opening the stadium in April 2019, we have invested over £600million in our men’s and women’s first-team squads.”

Spurs’ total revenue for the financial year to June 30, 2023 was £549.6million, up on £444m the previous year. Overall though the club posted a loss of £86.8m.