What Tottenham's £100m change this week meant at the Premier League club

News of share changes at Tottenham this week caused a flurry of questions during a new era at the north London club.

It has been a huge period of change at Spurs with executive chairman Daniel Levy leaving after 24 years at the helm with CEO Vinai Venkatesham the man who will deal with the day-to-day running at Tottenham. The Lewis family that own the majority of the club through ENIC and their owners Tavistock have also stepped to the forefront in backing Spurs.

Siblings Vivienne and Charles Lewis have been in the directors' box for both of the recenthome matches against Villarreal and Doncaster Rovers in the Champions League and Carabao Cup respectively. Vivienne has been in attendance for most of the games at the Tottenham Hotspur Stadium this season and also accompanied the club on their summer tour to Asia.

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This week there was further talk of shareholders when the Guardianreported on a public filing by the London Stock Exchange on Tuesday which stated that hotelier Andrew Ashcroft had purchased 8,023,942 shares in Spurs last Friday. The article stated that while the price was not disclosed, recent valuations of Tottenham would place the value of the shares, a 3.4% stake of the club, at around £100million.

That led some Tottenham supporters to wonder whether that amount had therefore been injected into the club. However, that's not the case as it is not a new purchase of shares.

football.london understands that the shares involved are a long-held stake first reported back in 2008 that have now passed from former Conservative Party deputy chairman and billionaire donor Michael Ashcroft to his son Andrew.

It is believed that rules dictate that when an intention to make an offer for a company is made then those holding shares have to restate their holding, which ENIC are also believed to have done. So this was a restatement of what was already owned not a new purchase, but with a new Ashcroft name on the shares.

Earlier this month an Asian consortium of investors led by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited indicated an informal intention to make an offer for Spurs on the day Levyleft his role. Amanda Staveley and PCP International Finance Ltd are also believed to have shown enough interest, without making an actual indication of a forthcoming bid, all of which triggered takeover panel rules on disclosure.

PCP later made it clear that they would not be making an offer and in a statement triggered by the takeover interest, Spurs confirmed at the time that ENIC had "received and unequivocally rejected separate preliminary expressions of interest" to acquire their entire stake in the club.

They stated: "The board of the club and ENIC confirm that Tottenham Hotspur is not for sale and ENIC has no intention to accept any such offer to acquire its interest in the club."

The Asian consortium have until 5pm on October 5 to lodge a firm intention to make a bid or, as PCP have done, announce they do not intend to make an offer, although that deadline can be extended.

Takeover rules state that if approaches are not followed up by a bid, that party cannot come back with an offer for six months. It appears that even if they did they would be met with a firm no by Tottenham.