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Last Updated: Thursday, 7 June 2007, 15:59 GMT 16:59 UK
Sugar sells Spurs stake for 25m
Sir Alan Sugar
Sir Alan Sugar has ended a long association with Spurs for 25m
Sir Alan Sugar has sold his stake in Premier League football club Tottenham Hotspur for 25m ($49.8m) to sports and media group ENIC International.

ENIC already held 54% of the North London football club, and has now increased its holding to 66%.

Spurs' chairman Daniel Levy is the managing director of ENIC.

Although City rules require ENIC to make an offer for the remaining 34% of the club the group said it intended to maintain Spurs' AIM listed status.

Long goodbye

The deal values the club at 209.5m.

The sale will go through on 2 July and will end Sir Alan's formal relationship with a club where he was chairman for a decade until 2001.

The board of ENIC said it had increased its stake in Spurs "as a sign of its long-term confidence in the club and to provide ongoing stability to the club".


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