Earick Dismisses Spurs Acquisition Offer Post-Initial Contact
The former chairman oversaw Tottenham's transition to the state-of-the-art venue in the year 2019.
Innovative business leader the entrepreneur has dismissed launching a buyout proposal for Spurs.
Spurs had earlier “clearly turned down” an unofficial approach from a investment group led by Brooklyn Earick last month and stated the organization was unavailable for purchase.
Yet British acquisition regulations required that, following an expression of interest rejected, Earick's consortium were obligated to present a formal offer by 24 October or announce they would refrain.
Confirmation of the determination was issued in a statement released by the club to the financial markets, indicating the club is “ceased to be in an takeover phase.”
The entrepreneur published an snapshot of the statement on digital channels, remarking: “It was a pleasure interacting with Spurs and the Lewis family's agents over the past few months.
“I maintain great respect for the team, its management, and its supporters, and hope for continued achievements.”
Tottenham's directors acknowledged the group for its “cooperative stance” in discussions and for “respecting the definitive view” of the owners that the club is unavailable.
Brooklyn Earick is a one-time music presenter who also served in space technology for NASA before founding his technology firm, which focuses on tech, entertainment, sport and recreation.
His approach was the third expression of interest rejected by the club's board since the abrupt resignation of top executive Daniel Levy in last month.
Earlier in September, the club declined offers from previous club stakeholder Amanda Staveley's the investment firm and a consortium headed by Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
Daniel Levy and his family own about 30% of Enic Sports & Developments Holdings Ltd – which has an almost 87% interest in the club.
He was the the league's longest-serving chairman and is believed to have received over £50 million during his nearly 25 years in the capacity.
But he was also the target of regular protests by Spurs fans, particularly last campaign as Premier League performances were below expectations.
The north London club won their major honor in 17 years when they defeated Manchester United in May's Europa League final.
Related Topics
- English top division
- Tottenham Hotspur
- Soccer
