Tottenham takeover - Who is Jahm Najafi? Businesses, success with Phoenix Suns & net worth
It's not exactly joyous being a Tottenham fan right now. Everybody's injured and the chances of a prosperous end to the season are slim. Oh, and to top it all off, Arsenal are annoyingly good and could win their first Premier League title in 19 years. Joy.
While Daniel Levy's heavy investment on and off the pitch (yes, he has, check the figures) attempted to bring about long-term stability to the club, Spurs' current outlook is anything but stable. Doubt is ubiquitous.
The futures of Harry Kane and Antonio Conte are up in the air. While supporters are unanimous in their adoration of their highest-ever goalscorer, the Italian is beginning to grate on some loyalists. Multiple factors have contributed to the rather bleak mood at N17 right now, but it's Levy who is seemingly always to blame.
The vast majority want him gone. They want a change; a fresh face with plenty of cash. Well, those anti-Levy folk might be in luck. According to the Financial Times, billionaire Jahm Najafi is reportedly preparing a mammoth bid to buy the club.
So, who is this guy?
Who is Jahm Najafi?
Najafi is an Iranian-American billionaire who has already ventured into the sporting sphere. He studied at Harvard, and has acquired much of his fortune through investing. He has three children with wife Cheryl.
Najafi set up his own private-equity firm - Najafi Companies - in 2002 and is also the chair of MSP Sports Capital. In terms of his sporting background, Najafi is a partial owner and vice chairman of the Phoenix Suns - an NBA franchise - until very recently. He is also vice chairman of McLaren Racing after investing in 2021.
Najafi moved to Phoenix as a 12-year-old and revealed he supported the Suns to help him learn English as a youngster.
"Suns were playing against the Celtics and, of course, everybody knows about Gar Heard’s shot heard around the world.
"I was actually sitting there in a chair watching the game learning English."
On this edition of Oh What a Night, Sean Walsh & Jude Summerfield look back at Spurs' 2010/11 UEFA Champions League run ahead of the trip to San Siro to face AC Milan in this year's round of 16!
If you can't see this embed, click here to listen to the podcast!
Jahm Najafi's business ventures
After graduating from Harvard with a master's degree in business economics in 1986, Najafi worked for Wall Street firm Solomon Brothers that eventually became a part of Citigroup.
He then started to run The Pivotal Group with his brother, Francis, which focused on the purchase of major commercial properties in California. Najafi was also a founding partner of Social Venture Partners, a philanthropic venture capital fund that invests in emerging nonprofit organisations.
After building up his fortune, he dipped his toe into the sporting sphere and became the second-largest stakeholder in the Suns. Despite the franchise's recent purchase, it's understood Najafi will not be selling any of his shares.
Najafi's sports investment group, MSP Sports Capital, then invested in McLaren Racing in 2021 which saw the Iranian-American take on the role of vice chairman.
Jahm Najafi net worth
The Paddock Magazine estimated Najafi's net worth to be in the region of $3.5bn in 2021.
Jahm Najafi's Tottenham bid
The early reports suggest Najafi’s Tottenham bid will be structured so that 70% of the purchase price will be put forward by MSP and the partners recruited.
And the other 30 per cent will be made up of backers from the Middle East, which are allegedly mainly based in Abu Dhabi.
Could Jahm Najafi's potential role at Tottenham mirror his position at the Phoenix Suns?
An American sports franchise and a Premier League football club are two completely different entities, so it's hard to envisage Najafi's role in Phoenix being comparable to his potential one in north London.
As he's fronting the bid, Najafi will take on a more prominent position than vice chairman should he takeover the club. While he may not be quite as recognisable as Todd Boehly, Najafi will obviously hold major power at Tottenham.