The American entrepreneur Dismisses Spurs Buyout Proposal Post-Initial Contact
The long-serving executive directed Tottenham's transition to the club's new home in recent years.
Innovative business leader Earick has ruled out submitting an official acquisition offer for Spurs.
The club had earlier “clearly turned down” an preliminary inquiry from a consortium headed by Earick last period and maintained the club was off the market.
But British acquisition regulations stipulated that, having had an expression of interest declined, the group had to submit a bid by late October or declare they would refrain.
Official word of the determination was provided in a release issued by the club to the London Stock Exchange, confirming the club is “no longer in an takeover phase.”
Earick posted an snapshot of the statement on social media, adding: “It was a pleasure engaging with the club and the owners' delegates over the past few weeks.
“I hold great respect for the team, its executives, and its fans, and hope for continued achievements.”
Tottenham's directors expressed gratitude to the syndicate for its “positive engagement” in negotiations and for “acknowledging the definitive view” of the shareholders that the club is not for sale.
Earick is a one-time music presenter who also served in spacecraft research for Nasa before creating his technology firm, which concentrates on tech, communications, sports and entertainment.
The informal offer was the third inquiry declined by the organization's leadership since the unexpected exit of executive chairman Levy in last month.
Earlier in September, the organization turned down proposals from former Newcastle United shareholder Staveley's the investment firm and a syndicate spearheaded by Dr Roger Kennedy and Ng through the holding company.
Levy and his household hold about thirty percent of Enic Holdings – which has an almost 87% interest in Spurs.
Levy was the Premier League's longest-serving chairman and is reported to have made over £50 million during his long tenure in the capacity.
But he was also the subject of regular protests by Tottenham supporters, especially last season as home competition outcomes proved disappointing.
Spurs claimed their major honor in nearly two decades when they beat United in the May Europa League final.
Related Topics
- English top division
- Spurs
- Soccer