Chairman Sir Alan Sugar reacted to reports last weekend when Sullivan revealed he may increase his stake in the White Hart Lane club, telling him to come up with £70m to invest in the club, but Sullivan has labelled talk of a possible takeover as "nonsense."
Sullivan has no plans to leave Birmingham, where he has a 40 per cent stake, in the near future. "I own one per cent of Spurs and I may increase that holding to 9.9 per cent," claimed Sullivan. "Part of my business is to trade in shares in publicly-quoted stock market companies.
"Spurs are a company who I believe are underpriced and undervalued. I may or may not go up to 9.9 per cent, but I will not go any higher because I have a large shareholding in Birmingham and until I have done a job at Birmingham I am going nowhere.
"As I have always said, maybe 10 years down the line I may be somewhere else. I am at Birmingham to do a job, to get them into the top six of the Premiership. Then I will have done my job and I will move on, probably to Cardiff City, which is my roots, or a London club."
Birmingham City co-owner David Sullivan has insists he has no plans to launch a takeover bid for Spurs.