A billionaire whose sports investment firm had been in talks with Everton over a minority stake is targeting a full takeover of Tottenham Hotspur.
Jahm Najafi, who until recently was part owner of the Phoenix Suns, is to table a $3.75bn (£3.1bn) offer for the North London club, according to the Financial Times, with his MSP Sports Capital business that he co-owns with former sports agent Jeff Moorad part of the plans alongside a consortia of other investors.
Najafi is said to be 'weeks away' from formally approaching Spurs owner Joe Lewis and chairman Daniel Levy, according to FT sources. The offer would see Tottenham valued at $3bn before adding $750m of debt. It is claimed it would be MSP and partners contributing 70 per cent of the purchase price while the remaining 30 per cent would come from the MENA region, mainly Abu Dhabi.
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The news will come as a blow to Everton's hopes of inward investment after the club had been in talks with MSP Sports Capital in recent weeks.
Najafi, Moorad and MSP vice-president Pete Taylor had all been present at Goodison Park for the game against Southampton last month, with talks having taken place over a minority stake in the club. The talks had been facilitated by Matthew Hammond, a long-time business associate of Blues owner Farhad Moshiri, who has been engaged independently to help with investor talks.
One of the main aspects of their interest in Everton was the stadium build at Bramley-Moore Dock, a build that still requires another major tranche of finance. The FT report that the real estate opportunities that exist with Spurs through their £1bn new stadium and the contracts it has with the NFL are key factors in the proposed acquisition of the club.
Should any deal between Tottenham and Najafi come to pass then it would end any plans for the purchase of an equity stake with direct control in Everton given the rules around conflict of interest and dual team ownership of clubs in direct competition.
Talks between MSP Sports Capital and Everton have not been ended although they have only ever reached early stages, according to sources.
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