Earick Rejects Spurs Buyout Proposal After Approach
The long-serving executive directed Tottenham's move to the state-of-the-art venue in the year 2019.
US technology mogul Brooklyn Earick has dismissed launching a buyout proposal for the North London club.
The club had earlier “clearly turned down” an unofficial approach from a investment group headed by Earick last month and maintained the team was unavailable for purchase.
Yet UK takeover and merger rules stipulated that, following an expression of interest turned down, Earick's consortium needed to make an offer by the October deadline or declare they would not proceed.
Confirmation of the choice was issued in a statement released by Tottenham to the London Stock Exchange, stating the club is “not in an takeover phase.”
Earick shared an picture of the release on digital channels, adding: “I've had a privilege engaging with Spurs and the Lewis family's agents over the past few weeks.
“I hold great respect for the organization, its leadership, and its supporters, and hope for only the best.”
Tottenham's directors thanked the consortium for its “constructive approach” in discussions and for “honoring the firm stance” of the proprietors that the organization is off the market.
The entrepreneur is a former DJ who also was employed in spacecraft research for the space agency before establishing his technology firm, which concentrates on innovation, entertainment, sport and recreation.
His approach was the third inquiry turned down by the team's directors since the unexpected exit of long-serving chairman Levy in September.
In early fall, the organization rejected approaches from ex-Newcastle investor the financier's the investment firm and a consortium spearheaded by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings.
Daniel Levy and his family hold about thirty percent of Enic Holdings – which has an nearly 87 percent interest in Spurs.
He was the English top flight's most enduring chair and is estimated to have earned more than £50m during his nearly 25 years in the capacity.
Yet he was also the subject of frequent demonstrations by Tottenham supporters, particularly last term as home competition outcomes proved disappointing.
Tottenham claimed their first trophy in nearly two decades when they defeated the Red Devils in the May continental decider.
Connected Themes
- The Premier League
- Tottenham Hotspur
- Football