According to football finance expert Dan Plumley, ENIC’s valuation of Tottenham Hotspur may be considerably higher than what reports in the media suggest.Tottenham rejected two approaches to buy the club last month following the exit of Daniel Levy as chairman.Last week, Spurs unequivocally rejected an expression of takeover interest from American tech entrepreneur Brooklyn Earick.Earick was required to announce his intention to bid before October 24, as per the UK Takeover Code. However, his consortium revealed on Monday evening that they will not be submitting a formal offer to buy Spurs.The statement read: “Further to the announcement made by the Board of Tottenham Hotspur Limited on 26 September 2025 regarding an informal expression of interest in relation to a proposal to acquire the total issued, and to be issued, share capital of the company, Mr Brooklyn Earick confirms that he does not intend to make a firm offer for the company.”Photo by SpursWebENIC’s valuation of Tottenham may be far higher than reportedIt has been claimed by some sources that Tottenham are valued by their owners at £4.5 billion, which would represent a world-record takeover if such a deal were to go through.However, Dan Plumley has said that the Lewis family may value the club far higher, potentially even double that amount, pointing to data that says that elite Premier League clubs may be undervalued by the market.When asked about the takeover interest Tottenham have rejected, Plumley told Football Insider: “What we’re seeing here with Spurs is similar to Man United. “Last summer, when people were talking about a full acquisition from Qatar, and the price was £5bn, or whatever we were landing on, there were strong rumours in the media that the Glazers have always seen £10bn as an exit strategy, as an example, because their perception is United is still undervalued.“There is some truth in that for English football clubs. If they really start to drive revenues into different territories, and start to get their stadium operations right, as Spurs obviously are doing with all the other stuff that’s happened on. “There is a potential whereby English football clubs’ valuations at that super elite level are arguably a little bit low.”The Lewis family may be looking to sell Spurs to a specific profile of investorIt has been suggested by a couple of sources that the profile of any potential investor is also an important factor for ENIC in agreeing a deal.According to reports, the Lewis family would be open to selling Tottenham to an NFL Franchise owner, which would make the club a bigger combination of sporting assets.That suggests that the Spurs owners believe that the true value of the club could be realised through some unorthodox and smart avenues, which conventional investors such as PCP International Finance Limited cannot explore.READ MORE: Julian Alvarez names Tottenham star as the best in the world with no hesitationThe post Tottenham Hotspur could actually be undervalued amid £10 billion comparison appeared first on Spurs Web.