Brooklyn Earick Rejects Spurs Takeover Bid Following Expression of Interest
Daniel Levy directed Spurs' transition to the club's new home in 2019.
American tech entrepreneur Earick has ruled out making a formal takeover bid for Spurs.
Spurs had previously “clearly turned down” an informal expression of interest from a investment group led by the American last month and maintained the organization was unavailable for purchase.
However British acquisition regulations required that, following an expression of interest rejected, the interested parties were obligated to present a formal offer by 24 October or state they would not proceed.
Official word of the decision was made in a statement released by the club to the financial markets, indicating the club is “ceased to be in an offer period.”
Earick posted an image of the release on social media, remarking: “I've had a privilege discussing with Tottenham Hotspur and the owners' representatives over the past few months.
“I have deep admiration for the organization, its leadership, and its fans, and wish them nothing but success.”
Tottenham's directors acknowledged the consortium for its “constructive approach” in negotiations and for “honoring the clear position” of the shareholders that the organization is unavailable.
The entrepreneur is a former DJ who also served in spacecraft research for the space agency before establishing the innovation company, which focuses on innovation, entertainment, athletics and leisure.
Earick's proposal was the third approach declined by the club's board since the abrupt resignation of top executive Levy in last month.
Earlier in September, the club rejected approaches from former Newcastle United shareholder Amanda Staveley's PCP International and a group led by Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
The former chairman and his family hold about thirty percent of Enic Holdings – which has an nearly 87 percent shareholding in the club.
He was the Premier League's top-tenured leader and is believed to have made in excess of fifty million pounds during his nearly 25 years in the capacity.
But he was also the focus of frequent demonstrations by the club's followers, particularly last term as Premier League performances were unsatisfactory.
Tottenham won their first trophy in 17 years when they beat the Red Devils in the May Europa League final.
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