Owner puts Spurs up for sale but his asking price may perturb buyers

WH Lane

Tottenham Hotspur owner Joe Lewis has reportedly put the club up for sale, but wants £1 billion for the Lilywhites.

Tottenham Hotspur owner Joe Lewis (pictured above, left, with chairman Daniel Levy) is courting offers for the White Hart Lane club but has, as of yet, received no interest.

Lewis bought Tottenham for £22 million in 2001 but, according to The Mirror, is demanding offers of around £1 billion. However, buyers are put off by the approximate £400 million worth of debt the new owner would assume.

This negative could be offset by numerous positives in Tottenham Hotspur's imminent future.

There is a substantially enhanced revenue stream to arrive via gate receipts as a new ground will fit 56,000 seats, with additional income to arrive from naming rights (akin to Arsenal's deal over the Emirates Stadium, or Manchester City with the Etihad Stadium).

What would really convince prospective buyers into bidding for ownership of Tottenham Hotspur, The Mirror claim, is securing Champions League football.

Spurs are currently sixth in the Premier League having returned six points from a possible nine. Tottenham take on Sunderland at the Stadium of Light on Saturday, September 13.

With Chelsea and Manchester City expected to be the front-runners in the race for the Premier League title, that leaves clubs like Liverpool, Arsenal, Manchester United, Everton and Spurs all vying for the remaining two qualifying spots in next season's Champions League competition.

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