Iranian-American billionaire Jam Najafi, chairman of MSP Sports Capital, is set to announce a $3.75 billion takeover bid for English soccer club Tottenham Hotspur, the Financial Times reported on Wednesday, citing two people familiar with the matter.

Tottenham lost at home to Aston VillaPhoto: Ashley Western/Colorsport/Shutterstock Editorial/Profimedia

According to the quoted publication, MSP Sports Capital is working with a consortium of investors to structure the offer and the company will formally contact Spurs owner Joe Lewis and the football club’s chairman Daniel Levy in a few weeks.

The proposal is structured so that MSP and its partners will contribute 70% of the purchase price, while Gulf financiers, mainly from Abu Dhabi, will contribute the remaining 30%, the FT said.

Tottenham fans are increasingly annoyed by the lack of trophies, with recent protests against the owners. The club’s last major title was the League Cup in 2008. Managers such as Jose Mourinho and (current manager) Antonio Conte have failed to deliver another trophy despite highly rated players including Harry Kane and Heung Min Son.

The takeover bid comes after Tottenham were beaten by AC Milan on Tuesday night and the Italian side will head into the second leg in England with high hopes of reaching the Champions League quarter-finals.