Tottenham Hotspur could soon be in the hands of US investment company Cain Hoy, after the club posted a ‘Rule 2.10’ announcement.

Rule 2.10 refers to takeovers and mergers of a company and is defined on the London Stock Exchange as a 'requirement that when an offer begins the offeree and offeror company detail all classes of relevant securities in issue.’

Simply put, this means Tottenham owners, ENIC International, have started formal negotiations with a potential buyer, believed to be Cain Hoy. Cain Hoy, founded by Todd Boehly, are the current owners of baseball team Los Angeles Dodgers and are looking to branch out into the UK football market, led by lifelong Tottenham fan Jonathan Goldstein (Head of European Investment at Cain Hoy).

The North London club have moved to deny any reports of a takeover, although today’s announcement suggests otherwise, with lead shareholder Joe Lewis keen to sell the club at a valuation of £1 billion.

A club announcement on the official website read:

'In accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the "Code"), THFC confirms that, as at the close of business on 12 September 2014, it had 213,102,209 ordinary shares of 5 pence each in issue. The International Securities Identification Number for THFC shares is GB0008962986.’

An official statement on the club website from last Friday confirmed Cain Hoy’s interest, but suggested that talks are at an early stage:

“Tottenham Hotspur FC has been in discussions with multiple providers of finance so that the optimum financing package for the project can be achieved and, in the course of those considerations, has met representatives of Cain Hoy.

“However, there are no ongoing discussions with Cain Hoy. The club is focused on the new stadium development and the season ahead.”

Cain Hoy could provide serious investment for a club that is loitering on the edge of the Champions League places. However, there arena suggestions that a potential buyer would fund the club in such a manner that has been seen at the likes of Chelsea and Manchester City in recent years.

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