Earick Dismisses Tottenham Hotspur Takeover Bid After Approach
Daniel Levy managed Tottenham's move to the state-of-the-art venue in recent years.
US technology mogul Earick has rejected making a formal takeover bid for the North London club.
Spurs had before “firmly declined” an unofficial approach from a consortium headed by the American last month and stated the club was unavailable for purchase.
Yet UK takeover and merger rules required that, following an informal proposal declined, the interested parties were obligated to present a formal offer by the October deadline or announce they would not proceed.
Verification of the choice was issued in a announcement made by Tottenham to the stock exchange, confirming the team is “no longer in an acquisition window.”
He posted an snapshot of the announcement on social media, stating: “I've had a pleasure interacting with Tottenham Hotspur and the Lewis family's delegates over the past few weeks.
“I have deep admiration for the organization, its management, and its followers, and wish them continued achievements.”
The club's board thanked the syndicate for its “positive engagement” in negotiations and for “acknowledging the clear position” of the owners that the team is off the market.
Brooklyn Earick is a ex-disc jockey who also served in aerospace studies for Nasa before establishing his technology firm, which focuses on technology, media, sport and recreation.
The informal offer was the third expression of interest declined by the organization's leadership since the sudden departure of executive chairman the former chairman in last month.
In early fall, the club declined proposals from ex-Newcastle investor Staveley's PCP International and a syndicate led by Roger Kennedy and Ng through the holding company.
Levy and his relatives own about 30% of Enic Sports & Developments Holdings Ltd – which has an nearly 87 percent shareholding in the club.
He was the English top flight's most enduring chair and is estimated to have earned over £50 million during his almost quarter of a century in the capacity.
Yet he was also the focus of ongoing dissent by Spurs fans, especially last season as home competition outcomes were disappointing.
The north London club won their initial silverware in seventeen years when they beat United in last season's continental decider.
Associated Subjects
- Premier League
- Tottenham Hotspur
- The beautiful game
