Cain Hoy pull out of Tottenham takeover bid

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Football News

US investment company Cain Hoy have ended their interest in making an offer to takeover Tottenham Hotspur.

On September 12, Cain Hoy announced that they had interest in making an offer for the Premier League club but having investigated the matter further they have decided against following up their interest.

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ENIC statement

Tottenham's owner ENIC had denied any intention of selling the club, simply stating in a statement that Cain Hoy had been approached with regards financing the new stadium development in North London.

Cain Hoy no longer interested

Cain Hoy's statement to the London Stock Exchange said the company had "terminated" its interest in Spurs and was "no longer considering making an offer". However, they did leave open the option to renew their interest once the six month restriction, which came into effect immediately as dictated by the City Code on Takeover and Mergers, expires.

Cain Hoy was headed by Tottenham season ticket holder Jonathan Goldstein, and backed in part by huge investment firm Guggenheim.

However, ENIC are owned by billionaire Joe Lewis and run by the arch negotiator Daniel Levy, so while Spurs fans might have hoped the purse strings may have been loosened under new owners, it looks like the club will be run on the same prudent lines as before.

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Tottenham Hotspur
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