The American entrepreneur Dismisses Spurs Takeover Bid Post-Initial Contact
Daniel Levy oversaw Spurs' transition to the club's new home in 2019.
US technology mogul Earick has rejected making a formal takeover bid for Tottenham.
The club had before “firmly declined” an preliminary inquiry from a investment group headed by the American last month and insisted the club was off the market.
However UK takeover and merger rules stipulated that, after an informal proposal rejected, the group had to submit a bid by the October deadline or state they would refrain.
Official word of the determination was made in a statement issued by Spurs to the financial markets, stating the club is “not in an takeover phase.”
He posted an picture of the release on social media, stating: “It's been a privilege discussing with Spurs and the Lewis family's agents over the past few months.
“I hold high regard for the club, its management, and its supporters, and desire only the best.”
The club's board acknowledged the group for its “positive engagement” in negotiations and for “acknowledging the clear position” of the shareholders that the team is off the market.
Brooklyn Earick is a one-time music presenter who also worked in spacecraft research for NASA before establishing his technology firm, which focuses on innovation, media, sports and entertainment.
His approach was the third expression of interest turned down by the team's directors since the sudden departure of top executive the former chairman in the fall.
Earlier in September, the organization declined proposals from ex-Newcastle investor the financier's PCP International Finance Limited and a consortium headed by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
The former chairman and his relatives own about a significant stake of Enic Holdings – which has an nearly 87 percent interest in Spurs.
He was the the league's most enduring chair and is estimated to have received over £50 million during his nearly 25 years in the capacity.
Yet he was also the target of frequent demonstrations by Spurs fans, notably last season as domestic league results turned out unsatisfactory.
Tottenham won their first trophy in seventeen years when they defeated United in last season's Europa League final.
Related Topics
- English top division
- Spurs
- Soccer
