Brooklyn Earick Dismisses Tottenham Hotspur Buyout Proposal Following Expression of Interest
Daniel Levy directed Tottenham's move to the state-of-the-art venue in 2019.
US technology mogul the entrepreneur has ruled out making a formal takeover bid for Tottenham.
Tottenham had before “unequivocally rejected” an informal expression of interest from a consortium headed by Earick last period and maintained the club was not for sale.
Yet the nation's corporate governance laws dictated that, following an informal proposal declined, Earick's consortium were obligated to present a formal offer by late October or declare they would not proceed.
Confirmation of the determination was provided in a announcement issued by Tottenham to the London Stock Exchange, stating the organization is “no longer in an offer period.”
He published an image of the statement on digital channels, adding: “It was a privilege engaging with Spurs and the Lewis family's agents over the past few weeks.
“I maintain high regard for the team, its executives, and its followers, and desire only the best.”
Tottenham's directors thanked the group for its “constructive approach” in discussions and for “respecting the definitive view” of the owners that the organization is not for sale.
Earick is a one-time music presenter who also worked in aerospace studies for the space agency before creating his technology firm, which concentrates on innovation, media, sports and leisure.
Earick's proposal was the third approach declined by the organization's leadership since the abrupt resignation of top executive the former chairman in the fall.
In early fall, the organization turned down proposals from ex-Newcastle investor Staveley's PCP International Finance Limited and a syndicate headed by Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
The former chairman and his relatives hold about 30% of Enic Sports & Developments Holdings Ltd – which has an almost 87% shareholding in Spurs.
The executive was the Premier League's longest-serving chairman and is estimated to have received more than £50m during his almost quarter of a century in the role.
However he was also the subject of ongoing dissent by Spurs fans, particularly last season as domestic league results proved disappointing.
The north London club won their major honor in nearly two decades when they defeated the Red Devils in last season's continental decider.
Connected Themes
- English top division
- Tottenham Hotspur
- Football
