Earick Dismisses Spurs Takeover Bid Following Expression of Interest
Daniel Levy managed Tottenham's relocation to the Tottenham Hotspur Stadium in recent years.
US technology mogul the entrepreneur has dismissed launching a buyout proposal for Spurs.
The club had before “firmly declined” an informal expression of interest from a syndicate spearheaded by Earick last month and stated the organization was off the market.
Yet UK takeover and merger rules dictated that, after an informal proposal turned down, the interested parties had to submit a bid by the October deadline or announce they would not do so.
Verification of the determination was made in a statement released by Tottenham to the stock exchange, indicating the team is “ceased to be in an takeover phase.”
He shared an snapshot of the announcement on digital channels, remarking: “I've had a honor engaging with Tottenham Hotspur and the Lewis family's delegates over the past few weeks.
“I maintain high regard for the club, its executives, and its supporters, and hope for only the best.”
Spurs' leadership thanked the consortium for its “cooperative stance” in discussions and for “honoring the firm stance” of the proprietors that the club is off the market.
Brooklyn Earick is a one-time music presenter who also was employed in spacecraft research for NASA before establishing the innovation company, which concentrates on tech, communications, sport and leisure.
His approach was the third inquiry declined by the club's board since the abrupt resignation of long-serving chairman Daniel Levy in the fall.
Earlier in September, the team turned down proposals from previous club stakeholder the financier's PCP International and a group spearheaded by Kennedy and Wing-Fai Ng through the holding company.
Daniel Levy and his relatives hold about thirty percent of the parent company – which has an nearly 87 percent shareholding in Tottenham.
Levy was the English top flight's top-tenured leader and is reported to have earned over £50 million during his almost quarter of a century in the position.
However he was also the target of regular protests by Tottenham supporters, especially last season as home competition outcomes proved below expectations.
The north London club won their initial silverware in 17 years when they overcame Manchester United in May's Europa League final.
Connected Themes
- Premier League
- The North London club
- Football
