Phoenix Suns minority owner Jahm Najafi is reportedly getting set to propose a $3.75 billion bid to purchase Premier League soccer team Tottenham Hotspur in London.

Najafi is chair of MSP Sports Capital, a company that identifies itself as an investor in sports teams, leagues and businesses in the sports ecosystem that are pursuing ambitious, challenging tasks, according to their website.

The Financial Times first reported that Najafi is working different investors to present a bid in the coming weeks to current owner, ENIC Group, which is owned by British billionaire Joe Lewis.

MSP would reportedly put forward 70% of the bid and investors would take care of the other 30%.

Although, according to The Athletic, Tottenham maintained the club is not for sale.

Additionally, MSP Sports Capital also has ownership stakes in X Games, McLaren Racing and several other soccer teams including Portugal’s Estoril Praia, Spain’s AD Alcorcon, Belgium’s SK Beveren and Germany’s FC Augsburg.

In March 2022, Tottenham was valued at $2.35 billion, No. 10 in the world and No. 5 in the Premier League, according to Forbes.

The team also finished a new stadium in London in 2019 that was estimated to be around $1 billion.