Newspaper article The Evening Standard (London, England)

Top Tory Revealed as Owning 4% Stake in Spurs

Newspaper article The Evening Standard (London, England)

Top Tory Revealed as Owning 4% Stake in Spurs

Article excerpt

Byline: RAOUL SIMONS

TOTTENHAM today revealed that Michael Ashcroft, the deputy chairman ofthe Conservative Party, has bought a four per cent stake in the club.

Lord Ashcroft, who is also Watford's biggest shareholder, is believed to haveheld a small stake in Spurs for some time but only recently broke through thethree per cent threshold, forcing him to go public.

A wealthy entrepreneur with an estimated fortune of [pounds sterling]950million, Ashcroft isnot believed to be a big football fan but became involved in the game in 2006when he acquired 42 per cent of the Hornets in a [pounds sterling]4m deal.

His Spurs stake is currently worth [pounds sterling]5.2m. Like Watford, Spurs plan to increasethe size of their stadium in a move which could significantly increase theirrevenue.

The club, who are listed on the alternative investment market, have also seenthe value of their shares soar over the past year amid speculation that clubowners Enic could be ready to sell. …

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