Earick Rules Out Tottenham Hotspur Acquisition Offer After Approach
Daniel Levy managed Spurs' transition to the Tottenham Hotspur Stadium in the year 2019.
American tech entrepreneur Brooklyn Earick has ruled out making a formal takeover bid for Tottenham.
The club had earlier “firmly declined” an informal expression of interest from a investment group led by Brooklyn Earick last period and insisted the team was not for sale.
But British acquisition regulations dictated that, following an expression of interest rejected, the group needed to make an offer by 24 October or announce they would refrain.
Verification of the decision was issued in a announcement issued by Spurs to the financial markets, confirming the organization is “ceased to be in an offer period.”
The entrepreneur shared an picture of the release on digital channels, adding: “It's been a privilege interacting with Tottenham Hotspur and the owners' delegates over the past few months.
“I maintain high regard for the organization, its leadership, and its followers, and desire continued achievements.”
Spurs' leadership expressed gratitude to the group for its “cooperative stance” in negotiations and for “honoring the definitive view” of the owners that the club is not for sale.
The entrepreneur is a one-time music presenter who also was employed in aerospace studies for the space agency before creating the innovation company, which concentrates on technology, entertainment, sports and recreation.
Earick's proposal was the third approach rejected by the club's board since the abrupt resignation of top executive Daniel Levy in the fall.
On 8 September, the club declined approaches from former Newcastle United shareholder Amanda Staveley's PCP International and a group spearheaded by Roger Kennedy and Wing-Fai Ng through the holding company.
Daniel Levy and his relatives control about a significant stake of the parent company – which has an almost 87% interest in Tottenham.
Levy was the English top flight's longest-serving chairman and is estimated to have made in excess of fifty million pounds during his almost quarter of a century in the role.
Yet he was also the target of regular protests by Spurs fans, particularly last campaign as domestic league results proved unsatisfactory.
Spurs secured their first trophy in seventeen years when they defeated Manchester United in the May European final.
Related Topics
- Premier League
- Tottenham Hotspur
- Football
