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The American consortium which had revealed its interest in Tottenham two weeks ago, today announced it had shelved plans to buy the club.
Private investment company Cain Hoy made a preliminary move on behalf of a group of American businessmen with the approach being led by their London-based head Jonathan Goldstein.
Spurs owner Joe Lewis values the club at £1billion but Cain Hoy are not, at present, prepared to meet that figure.
In a statement Cain Hoy said: “On September 12, having previously approached Tottenham with a proposal, Cain Hoy confirmed that it was at the preliminary stages of assessing a cash offer for the club. Cain Hoy has subsequently terminated its assessment and accordingly is no longer considering making an offer for Tottenham.”
Due to Takeover Rules, Cain Hoy will not be able to bid for Spurs for another six month unless another party attempts a takeover or the club approach the consortium.
