Earick Rejects Tottenham Hotspur Takeover Bid After Approach
The former chairman directed Spurs' transition to the club's new home in the year 2019.
US technology mogul Earick has dismissed launching a buyout proposal for Tottenham.
The club had before “firmly declined” an preliminary inquiry from a investment group headed by Brooklyn Earick last month and maintained the organization was not for sale.
But British acquisition regulations required that, after an informal proposal turned down, Earick's consortium needed to make an offer by late October or state they would refrain.
Official word of the choice was issued in a statement released by Tottenham to the London Stock Exchange, confirming the club is “no longer in an takeover phase.”
Earick published an image of the announcement on digital channels, stating: “It was a honor interacting with Tottenham Hotspur and the owners' agents over the past few months.
“I have deep admiration for the club, its management, and its supporters, and desire continued achievements.”
Tottenham's directors thanked the syndicate for its “positive engagement” in negotiations and for “honoring the firm stance” of the owners that the organization is off the market.
Earick is a former DJ who also served in space technology for Nasa before creating the innovation company, which concentrates on technology, communications, sports and recreation.
The informal offer was the third approach turned down by the club's board since the sudden departure of top executive Levy in last month.
Earlier in September, the organization rejected approaches from ex-Newcastle investor Staveley's PCP International Finance Limited and a consortium spearheaded by Roger Kennedy and the co-investor through Firehawk Holdings.
Daniel Levy and his family control about thirty percent of Enic Holdings – which has an nearly 87 percent stake in Spurs.
Levy was the English top flight's longest-serving chairman and is believed to have received more than £50m during his long tenure in the position.
But he was also the focus of frequent demonstrations by Tottenham supporters, notably last season as Premier League performances turned out unsatisfactory.
Tottenham won their initial silverware in seventeen years when they beat the Red Devils in May's continental decider.
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