Daniel Levy to sell most of Tottenham stake to American tech billionaire – UK Times

Daniel Levy has agreed to sell most of his share in Tottenham Hotspur to a company run by American tech billionaire Brooklyn Earick.

Former chairman Levy, who stepped down last September after running Tottenham for a quarter of a century, has signed a sale and purchase agreement with Eight Sports Capital so they will take a 24.99 per cent stake in Spurs.

Earick, a boyhood Tottenham fan who had expressed an interest in buying Spurs last year, is an engineer turned entrepreneur who used to work for NASA. He has now raised more than £25bn in funds, including from sovereign wealth funds.

He is the CEO of Redacted RnD, a Singapore-based venture capital company while Eight Sports Capital is a sports investment firm owned by Triller, who have also been involved in pay-per-view boxing, including Mike Tyson’s fight against Roy Jones Jr.

A spokesperson for Eight Sports Capital Limited stated: “We are delighted to have signed this agreement to acquire a significant stake in ENIC. We look forward to working with the club’s shareholders, management, staff, players and fans to support Tottenham Hotspur’s continued growth and success.”

ENIC remain Tottenham’s majority owners, with the Lewis family owning 70.12 percent. The billionaire Joe Lewis has been represented by his daughter Vivienne and her son-in-law, Nick Beucher, who have become prominent since Levy stood down, while Peter Charrington became chairman.

After Tottenham finished 17th for the second consecutive season, avoiding relegation on the last day of the Premier League campaign, they said in a statement they would not sell the club and promised investment.

The price of the agreement has not been revealed but it is expected to make Levy, who will retain around four percent of ENIC, hundreds of millions of pounds.