The American entrepreneur Rules Out Tottenham Hotspur Buyout Proposal After Approach
The long-serving executive directed Spurs' transition to the state-of-the-art venue in the year 2019.
Innovative business leader Earick has dismissed making a formal takeover bid for the North London club.
Spurs had before “unequivocally rejected” an informal expression of interest from a investment group spearheaded by the American last period and stated the club was not for sale.
However UK takeover and merger rules required that, after an informal proposal declined, the interested parties were obligated to present a formal offer by 24 October or announce they would not proceed.
Official word of the decision was provided in a release issued by Spurs to the financial markets, confirming the club is “no longer in an takeover phase.”
The entrepreneur published an image of the announcement on social media, remarking: “It's been a pleasure discussing with the club and the Lewis family's representatives over the past few months.
“I have great respect for the club, its management, and its fans, and wish them nothing but success.”
The club's board thanked the consortium for its “constructive approach” in talks and for “acknowledging the clear position” of the owners that the organization is unavailable.
Brooklyn Earick is a one-time music presenter who also worked in space technology for NASA before creating the innovation company, which specializes in technology, media, sport and entertainment.
His approach was the latest expression of interest declined by the club's board since the abrupt resignation of executive chairman Levy in September.
Earlier in September, the organization declined approaches from ex-Newcastle investor Staveley's the investment firm and a consortium spearheaded by Roger Kennedy and Wing-Fai Ng through the holding company.
Daniel Levy and his household hold about thirty percent of Enic Holdings – which has an majority stake in the club.
Levy was the English top flight's top-tenured leader and is reported to have received over £50 million during his almost quarter of a century in the role.
However he was also the focus of ongoing dissent by Tottenham supporters, especially last campaign as home competition outcomes were unsatisfactory.
Spurs claimed their first trophy in nearly two decades when they beat the Red Devils in the May Europa League final.
Associated Subjects
- Premier League
- The North London club
- The beautiful game
