suger sells

[stevet73]

Sir Alan Sugar will sell his share in Tottenham Hotspur to ENIC International.

The club's majority shareholders will increase their holding to 66 per cent on 2nd July if the purchase of Sugar's shares goes through.

Sugar will net £25million by selling his 12 per cent share in Spurs to ENIC.

ENIC have made an offer for the remaining 34 per cent of the White Hart Lane club, as per City rules, but do not plan to take the club into private ownership.

"Tottenham Hotspur have made significant progress in the six years since the ENIC Group first became a shareholder and we believe its future prospects are encouraging," a statement read.

"ENIC International has now taken the opportunity to increase its shareholding in Tottenham Hotspur, taking it from 54 per cent to 66 per cent on a fully diluted basis, as a sign of its long-term confidence in the club and to provide ongoing stability to the club.

"Although the agreement with Amshold has triggered offers under Rule 9 of the City Code, it is our current expectation that Tottenham Hotspur's AIM listing will be maintained."

Tottenham are now valued at a total of £209.5million. :8:

[gazzafox9]

Think Enic want to avoid a back door take over like whats happened at Man usa and Newcastle. There was rumours of billionaires sniffing around!! I would rather Enic and Mr Levy continue to run the club as i belive they have done a very good job