Spurs to welcome foreign owners?

By: Gary | June 18th, 2008

‘Tottenham For Sale’ was plastered on the back page of this morning’s Daily Mirror.

According to an exclusive story by chief football writer Martin Lipton, it looks as if Spurs could be the latest Premier League team to be taken over by a foreign investor.

The ninth Premiership outfit in fact, to take a gamble on foreign owners.

It means we would join Cheslea, Aston Villa, Fulham, Liverpool, Manchester City, Manchester United, Portsmouth and West Ham in being owned by an overseas source.

Mr Lipton, of the Mirror, exclusively wrote how Joe Lewis, head of ENIC Investment is considering selling our club after accumulating £400 million of losses after the collapse of American investment bank Bear Stearns last year.

And, a Middle East syndicate is reported to be ready to launch a bid.

It is understood the club is worth a price of £250 million having qualified to compete in Europe for the third season in succession.

We have heard it all before though, that our club is set to be sold. But the fact this story comes from the very reputable Martin Lipton, in my opinion, gives this story massive credence. For it to have been reported by such a highly-respected football journalist, I think it is now a case of when we will be sold rather than if. Whether a deal would be tied up before the new season or further in the long-term, still remains to be seen.

But is this what we really want? Is foreign ownership really a safe and secure route to success? It is happening more and more but that may not mean it is the right move for Spurs.

It is not as if we have been struggling to exude our spending power in the transfer market over the last couple of seasons. Nor have we struggled to bring in big European names in recent times. The additions of Luka Modric and Giovanni Dos Santos this summer is proof of that. And from what I can see, our money matters seem to be in relatively good order in comparison to some clubs around us.

It is true that a change in ownership could further strengthen our financial status but it may not be a completely rosey scenario.

More change in the management of the club could threaten our stability. And, the power struggles witnessed at Cheslea, Manchester City and Liverpool last season show us the possible pitfalls which may lie ahead.

Maybe foreign ownership is just inevitable for most Premiership clubs now. And, if reports are correct that Mr Lewis is looking to sell, then there seems to be very little we can do to stop us taking this route.