The American entrepreneur Rules Out Tottenham Hotspur Buyout Proposal After Approach
The former chairman directed Spurs' transition to the state-of-the-art venue in recent years.
American tech entrepreneur Brooklyn Earick has rejected making a formal takeover bid for Spurs.
Tottenham had earlier “firmly declined” an unofficial approach from a investment group led by Brooklyn Earick last period and stated the organization was off the market.
However UK takeover and merger rules dictated that, following an initial approach declined, Earick's consortium were obligated to present a formal offer by 24 October or state they would not do so.
Official word of the decision was made in a release issued by the club to the financial markets, indicating the team is “ceased to be in an acquisition window.”
Earick published an image of the release on online platforms, remarking: “It's been a honor engaging with the club and the Lewis family's agents over the past few months.
“I hold great respect for the team, its leadership, and its followers, and desire nothing but success.”
The club's board acknowledged the group for its “constructive approach” in talks and for “honoring the clear position” of the proprietors that the club is unavailable.
Brooklyn Earick is a ex-disc jockey who also worked in space technology for Nasa before founding his technology firm, which focuses on tech, media, sport and recreation.
The informal offer was the latest inquiry declined by the club's board since the sudden departure of top executive the former chairman in the fall.
In early fall, the team declined approaches from former Newcastle United shareholder Amanda Staveley's the investment firm and a consortium led by Roger Kennedy and Ng through Firehawk Holdings Limited.
Daniel Levy and his household hold about a significant stake of the parent company – which has an majority stake in the club.
Levy was the Premier League's top-tenured leader and is reported to have made over ÂŁ50 million during his long tenure in the role.
But he was also the focus of regular protests by the club's followers, especially last campaign as domestic league results turned out unsatisfactory.
Tottenham secured their major honor in nearly two decades when they defeated United in May's Europa League final.
Associated Subjects
- English top division
- The North London club
- Football
