Earick Dismisses Spurs Acquisition Offer Following Expression of Interest
The long-serving executive directed Spurs' transition to the state-of-the-art venue in recent years.
US technology mogul Brooklyn Earick has dismissed making a formal takeover bid for the North London club.
Tottenham had previously “clearly turned down” an unofficial approach from a syndicate spearheaded by Earick last period and maintained the team was off the market.
Yet UK takeover and merger rules stipulated that, following an informal proposal declined, Earick's consortium were obligated to present a formal offer by the October deadline or state they would not do so.
Confirmation of the decision was provided in a announcement released by Tottenham to the London Stock Exchange, confirming the club is “ceased to be in an acquisition window.”
He published an picture of the release on social media, stating: “I've had a honor interacting with Spurs and the Lewis family's representatives over the past few weeks.
“I have great respect for the club, its leadership, and its supporters, and wish them nothing but success.”
The club's board thanked the consortium for its “cooperative stance” in negotiations and for “honoring the clear position” of the proprietors that the team is not for sale.
The entrepreneur is a ex-disc jockey who also served in aerospace studies for NASA before establishing Redacted RnD, which focuses on technology, media, sport and entertainment.
The informal offer was the third inquiry turned down by the team's directors since the abrupt resignation of executive chairman Levy in September.
On 8 September, the club declined proposals from ex-Newcastle investor Staveley's the investment firm and a syndicate headed by Dr Roger Kennedy and Ng through Firehawk Holdings Limited.
Levy and his family control about 30% of Enic Holdings – which has an nearly 87 percent stake in Spurs.
He was the the league's top-tenured leader and is reported to have received in excess of fifty million pounds during his almost quarter of a century in the position.
Yet he was also the subject of regular protests by Spurs fans, notably last term as home competition outcomes turned out disappointing.
Tottenham won their initial silverware in 17 years when they overcame United in May's European final.
Related Topics
- Premier League
- Spurs
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