Facebook Could Spend £1 Billion on a Premier League Football Team

An American investment company, backed by Facebook founder Mark Zuckerberg, is interested in buying Tottenham Hotspur. Iconiq Capital has held talks over the north London club that finished second in the Premier League, according to The Sunday Times.

The £5.136 billion (about $6.61 billion) television deal that the Premier League agreed with Sky Sports and BT Sport in 2015 has made English football teams an ever more attractive prospect for potential investors.

The report claims that Iconiq began discussions about buying Spurs in 2014 and was willing to pay £882.6 million (about £1.136 billion); this was rejected by the club’s owner Joe Lewis, who is said to be holding out for £2 billion.

Mark Zuckerberg Mark Zuckerberg at Harvard's 366th commencement exercises, Cambridge, Massachusetts, May 25. Paul Marotta/Getty

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Tottenham released a statement that denied the reports of a takeover Monday morning,. “The Club engaged Rothschild  to secure the funding for the new stadium,” the statement said.

“The Board believes this was the optimum solution in the interests of fans, employees and shareholders and for the continued development of the Club. The Board is not in any discussions relating to a takeover offer for the Club.”

Spurs finished second in the Premier League last season and third the year before, spending both campaigns as a title contender.

This season, Mauricio Pochettino ’s team will play home games at Wembley Stadium as White Hart Lane, its stadium, is demolished and rebuilt with state-of-the-art facilities. The rebuild is costing around £750 million.

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