 Sir Alan Sugar has ended a long association with Spurs for �25m |
Sir Alan Sugar has sold his stake in Premier League football club Tottenham Hotspur for �25m ($49.8m) to sports and media group ENIC International. ENIC already held 54% of the North London football club, and has now increased its holding to 66%.
Spurs' chairman Daniel Levy is the managing director of ENIC.
Although City rules require ENIC to make an offer for the remaining 34% of the club the group said it intended to maintain Spurs' AIM listed status.
Long goodbye
The deal values the club at �209.5m.
The sale will go through on 2 July and will end Sir Alan's formal relationship with a club where he was chairman for a decade until 2001.
The board of ENIC said it had increased its stake in Spurs "as a sign of its long-term confidence in the club and to provide ongoing stability to the club".
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