Change is latest generational change at club
Two expressions of interest in buying Spurs rejected
The son of former Conservative Party deputy chairman and billionaire donor Michael Ashcroft has taken over his father’s 3.4% stake in Tottenham in another generational change at the north London club.
A public filing posted by the London Stock Exchange on Tuesday shows that Andrew Ashcroft, a hotelier and businessman, purchased 8,023,942 Tottenham shares last Friday. The price is not disclosed, but based on recent valuations of Tottenham the shares are likely to have cost around £100m.
Lord Ashcroft is a longstanding Tottenham shareholder who at one stage owned around 4% of the club. The change has been made public under 8.3 of the Takeover Code as Tottenham are currently in an official offer period, with all shareholders of more than one per cent required to disclose their holding. Small shareholders own 13.42% of Spurs, with Ashcroft’s stake is thought to be the largest.
