Andrew Ashcroft, the son of Michael Ashcroft, former Conservative Party deputy chairman and billionaire donor, has acquired a 3.4% stake in Tottenham Hotspur. The deal, which saw Ashcroft purchase 8,023,942 shares, is estimated to be worth around £100 million based on the current valuation of the club. The specifics of the transaction, including whether Lord Ashcroft sold shares directly to his son or if the Ashcroft family increased its overall ownership by buying from other minority shareholders, remain unclear.
Lord Ashcroft, who has long been a shareholder in Tottenham, once owned approximately 4% of the club. As of now, it’s uncertain whether the family now holds a more significant portion or if the purchase represents a direct transfer of shares from father to son. This acquisition comes amid a period of significant change at the club, with Daniel Levy, the former chairman, stepping down from the board after 25 years of leadership. His departure has brought in Peter Charrington, a longtime advisor to the Lewis family, as the new non-executive chairman.
Despite this shift in leadership, Tottenham’s majority shareholder, ENIC, which is controlled by the Lewis family, has firmly stated that the club is not for sale. Tottenham recently rejected two expressions of interest from potential buyers, including a bid from Amanda Staveley’s PCP Capital Partners and an American-Chinese consortium led by Roger Kennedy. The club remains under an official offer period until October 5, during which time the interested parties must either make a formal offer or withdraw their intentions to acquire the club.
This move by Ashcroft is likely to prompt further speculation regarding the family’s involvement in the club’s future. The Takeover Panel rules stipulate that if there is evidence that the Ashcrofts are coordinating their shareholding strategies, they may be treated as acting in concert. While Tottenham has refrained from commenting on the matter, this development has added yet another layer of intrigue to the club’s ownership landscape.
Andrew Ashcroft, a hotelier and businessman, had previously been based in Belize, where he owns a hotel. His personal life has been marked by controversy, including an incident in 2019 when he was arrested for public intoxication on an American Airlines flight. Despite these challenges, Ashcroft has remained a figure of significant business influence, now adding a stake in one of London’s most prominent football clubs to his portfolio.
