Overview

• ENIC said it has unequivocally rejected preliminary proposals from Amanda Staveley’s PCP International Finance and a consortium led by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings.
• PCP confirmed it does not intend to make an offer at this time, triggering a six‑month no‑bid restriction under Rule 2.8 unless invited back under the code.
• An offer period is now in effect, with each party required by 5pm on 5 October 2025 to announce a firm intention to bid under Rule 2.7 or issue a no‑offer statement.
• Any acquisition of ENIC would necessitate a mandatory Rule 9 offer for Tottenham’s remaining shares, and ENIC holds roughly 86–87% of the club.
• After Daniel Levy’s departure, the club says ownership is unchanged as Peter Charrington and Vinai Venkatesham lead a new governance setup alongside head coach Thomas Frank.