Fresh reports have claimed that Jahm Najafi is preparing a £3.1billion offer to take over at Tottenham Hotspur and so we’ve gathered all the information you need to know.
Spurs are currently owned by ENIC Group, which purchased the club in 2001. Joe Lewis is the man behind the business, although he has often taken a backseat to allow Daniel Levy to run oppressions at the club.
Here’s everything you need to know about Jahm Najafi, how rich he is and how serious his takeover bid appears to be at this point in time.
Who is Jahm Najafi?
Najafi is an Iranian-American businessman who owns the Najafi Companies – a Phoenix-based equity firm which was founded by Najafi in 2002. This is his main source of income, although he does have other interests.
The 60-year-old is already involved with a handful of sports and a move into the Premier League could be his next calling.
He is perhaps most known for his role as partial owner and vice chairman of the Phoenix Suns professional basketball team and is also a governor on the board of the National Basketball Association.
Najafi is also the vice-chairman of McLaren’s F1 team and has been in that post since December 2020.
How rich is Jahm Najafi?
It is currently estimated that Najafi has a net worth of around £2.9billion. For context, the current owner Lewis has an estimated net worth of £4.33billion.
Najafi is the chair of MSP Sports Capital, who are currently pushing for a deal. The takeover offer that Najafi has proposed does involve other parties funding part of the deal.
The Financial Times explained that: “The bid is structured so that MSP and its partners will put forward 70 per cent of the purchase price, while backers from the Gulf, mainly from Abu Dhabi, will contribute the remaining 30 per cent.”
Why does Jahm Najafi want to buy Tottenham?
Tottenham would be an attractive club to investors for several reasons. The Premier League continues to grow its brand around the globe and Tottenham are a big player as a member of the traditional top six.
Daniel Levy has often been praised for his shrewd financial management and regular qualification for the Champions League, but fans have become increasingly frustrated with a lack of silverware.
The last major trophy won by the club was back in 2008 as they were victorious in the League Cup and so despite Levy’s shrewd financial approach, this has been a major frustration for fans.
What also makes them an attractive proposition is their new state-of-the-art stadium. The Tottenham Hotspur Stadium was opened in 2019 and was estimated to cost £1billion to construct.
The ground is also purpose-built for the NFL and they have an agreement to host a minimum of two games per year over a 10-year partnership.
Was Jahm Najafi considering other clubs?
Yes, in fact there had been reports that he was interested in buying a minority stake in Everton, prior to his interest in Tottenham.
The businessman had been present at Everton’s Premier League fixture against Southampton at Goodison Park in January. He watched the match with several of his associates.
The news will no doubt come as a blow to Everton fans as Najafi now seems to have moved on from Everton as he is now considering a full takeover at Tottenham.
— Everton Central (@EfcCentral_) January 26, 2023
How realistic is Jahm Najafi’s bid?
As of now, Tottenham have declined to comment on the speculation currency surrounding Najafi. Matt Law of the Telegraph has suggested that a bid of around £3.1billion is likely to fall short of Daniel Levy’s valuation of the club.
Levy is said to value the club at upwards of £3.5billion and it is also worth mentioning that he rejected a similar bid of around £2.9billion from a different American businessman just last year.
For context, Todd Bohely purchased Chelsea for £4.25billion last year. Levy will be keen on getting the best deal possible and time will tell if anything does come of Najafi’s bid.