With Man United & Liverpool on the market, Tottenham are subject of a £3.1bn bid

It is takeover season in the Premier League. First, Newcastle sold, then Chelsea, then Bournemouth. Manchester United and Liverpool officially on the market since November, and Everton in desperate need of rescue.

Now Tottenham, subject to fresh interest from billionaire businessman Jahm Najafi and his New York investment company, planning to offer £3.1billion for the north London club.

Spurs remain silent on the matter. There has been no approach, they insist. Nor is there any comment from Nafaji, an Iranian-American also linked to a move for Everton who attended their game against Southampton at Goodison Park last month.

His interest in Tottenham remains ‘weeks away’ from any formal approach, according to the Financial Times, who broke the story.

The club’s billionaire owner Joe Lewis and chairman Daniel Levy have resisted interest in the past, despite a widely-held feeling that they would be prepared to sell if the price was right.

Precisely what the right price is remains open to speculation, but it is safe to say Tottenham are not about to be rushed into negotiations by the prospect of the numbers circulating.

Levy is understood to have rejected interest close to £3bn within the last 12 months.

Chelsea were sold last year to a consortium led by American Todd Boehly and the private equity firm Clearlake Capital for £2.5bn, plus the promise of £1.75bn of investment into the club.

That was a price influenced by circumstances and a deadline set for sale. Previous owner Roman Abramovich was under UK Government sanctions relating to his connections to Vladimir Putin in the immediate aftermath of Russia’s invasion of Ukraine.

Stamford Bridge is in need of an expensive rebuild, which would take years and probably involve the team moving elsewhere for an extended period.

Spurs opened the doors of their new stadium in 2019. The project cost more than £1bn and lockdowns in the pandemic were a setback soon after opening, but it is up and running, and the cash tills will be ringing from NFL fixtures, boxing, rugby and concerts, with Beyonce booked in for five nights, when Antonio Conte’s side reach the end of the season.

Together with the acclaimed training centre in Enfield, and the appeal of a London postcode, it means Levy will expect top dollar, even if the sporting achievements of his team cannot come close to matching their rivals’ in the years since ENIC took control from Lord Sugar in 2000. Tottenham are ‘oven ready’ and the global brand is strong.

They have not won a trophy since 2008, but have England captain Harry Kane up front and are in the midst of another campaign in the Champions League, beaten 1-0 at AC Milan in the first leg of their last 16 tie on Tuesday.

Najafi’s proposed package, which includes 30 per cent investment from the Gulf, mainly Abu Dhabi, values the club at less than £2.5bn, with a pledge to take on more than £600million of debt.

Earlier this year, talks in London between Levy and Nasser Al-Khelaifi, the chairman of Qatar Sports Investments (QSI) and president of Paris Saint-Germain, sparked rumours of imminent investment which Tottenham were quick to shut down.

QSI have been looking to expand their portfolio on the back of the exposure of the World Cup in Qatar, and with the Premier League’s commercial power reinforced by the failed launch of a breakaway European Super League, its clubs are attracting a new wave of attention from investors.

Manchester United are now the target for the Qatari sovereign wealth in the guise of the Qatar Investment Authority, who are expected to lodge a bid before the end of this week.

Sir Jim Ratcliffe, the UK’s richest person, has also declared an interest in buying United from the Glazer family, unpopular owners who bought the club in 2005 on a leveraged finance model.

Ratcliffe’s chemicals giant INEOS already have sponsorship ties to Spurs, and his French club Nice played a friendly against Conte’s team in December. Ratcliffe’s proposal to buy United is reported to be worth £4.25bn.

There is also interest in United from the USA, though none of the bids are thought to be close to meeting the Glazers’ initial asking price, set at £6bn. Old Trafford, like Stamford Bridge, is a stadium in need of extensive renovation.

Ultimately, the price paid for United will effect valuations across the Premier League.