London’s DAILY STAR reported Sunday that the New York Yankees are entertaining the possibility of making a bid for Tottenham Hotspur of the English Premier League.
THE owners of baseball giants New York Yankees are looking into buying Spurs for a massive £450million.
Powerhouse Yankees are said to be weighing up an offer for a major stake in the White Hart Lane outfit.
Hank, a former college soccer player, expressed an interest in buying the club in the early 1990s.
Back then, the Yankees were approached to buy a 33 per cent interest in Tottenham for around £20m – but they passed up the option and it is a decision that Hank still regrets.
It’s probably not a coincidence that this news hit just days after George Steinbrenner passed away. Can’t imagine the old man would be too excited about it.
Asked about buying into another sports franchise, Hank said: “The only thing would be a major soccer team in Europe, preferably in the Premier League. That’s always a possibility for me.”
Current owner Joe Lewis, 73, could be tempted. The Bahamas-based, East End-born businessman is worth £1.5billion but he and his partners lost £500m in the Bear Stearns bank collapse.
Yankees President Randy Levine responded to the report today.
Levine told SPORTS BUSINESS DAILY that, “the report that the New York Yankees are interested in buying Tottenham Hotspur is not true.”
The wording of Levine’s denial is parsed. Levine did not say that the Yankees are not interested in buying Tottenham. Just that the Star’s report was not completely accurate.
One of the driving forces behind the possible Tottenham acquisition is how Hank Steinbrenner has been pushed into the background by understated brother Hal. Hal is now pulling all the strings for the Yankees and perhaps Hank wants to get out from under that.
Also consider that Tottenham is a high profile London-based club and is on the cusp of building a new stadium - which could increase the value of the franchise exponentially overnight. So if you were to ever buy Tottenham, this is probably the time.
That said, I can’t imagine Hal would sign off on what would surely be a leveraged buyout of Spurs, regardless of the possible windfall such a speculation could represent.