Earick Rejects Spurs Takeover Bid After Approach
The long-serving executive managed Tottenham's move to the club's new home in recent years.
US technology mogul Brooklyn Earick has ruled out submitting an official acquisition offer for Tottenham.
The club had before “unequivocally rejected” an informal expression of interest from a syndicate led by Earick last month and insisted the organization was unavailable for purchase.
However UK takeover and merger rules dictated that, after an initial approach turned down, the interested parties had to submit a bid by the October deadline or declare they would refrain.
Official word of the choice was issued in a announcement released by Tottenham to the stock exchange, confirming the team is “no longer in an acquisition window.”
Earick posted an image of the statement on online platforms, adding: “It was a honor discussing with the club and the Lewis family's representatives over the past few weeks.
“I have high regard for the organization, its management, and its followers, and hope for nothing but success.”
Tottenham's directors thanked the group for its “cooperative stance” in talks and for “respecting the clear position” of the owners that the organization is not for sale.
The entrepreneur is a ex-disc jockey who also was employed in spacecraft research for Nasa before founding Redacted RnD, which concentrates on innovation, communications, sport and recreation.
His approach was the third approach turned down by the club's board since the abrupt resignation of executive chairman the former chairman in September.
Earlier in September, the team rejected proposals from previous club stakeholder Amanda Staveley's PCP International and a group led by Kennedy and the co-investor through Firehawk Holdings Limited.
Levy and his relatives hold about thirty percent of Enic Holdings – which has an almost 87% interest in Tottenham.
He was the Premier League's most enduring chair and is believed to have made more than £50m during his long tenure in the position.
Yet he was also the target of frequent demonstrations by the club's followers, particularly last campaign as home competition outcomes proved below expectations.
The north London club claimed their major honor in seventeen years when they overcame Manchester United in May's continental decider.
Connected Themes
- The Premier League
- Tottenham Hotspur
- Soccer
