The American entrepreneur Dismisses Tottenham Hotspur Buyout Proposal After Approach
Daniel Levy managed Tottenham's transition to the club's new home in the year 2019.
US technology mogul Earick has rejected submitting an official acquisition offer for the North London club.
Tottenham had previously “unequivocally rejected” an unofficial approach from a syndicate headed by the American last month and insisted the team was not for sale.
However the nation's corporate governance laws stipulated that, after an informal proposal turned down, the group needed to make an offer by late October or state they would not proceed.
Verification of the decision was issued in a release issued by the club to the London Stock Exchange, confirming the club is “ceased to be in an takeover phase.”
Earick published an picture of the release on online platforms, stating: “It was a pleasure discussing with Tottenham Hotspur and the owners' representatives over the past few months.
“I hold great respect for the team, its executives, and its followers, and hope for only the best.”
Spurs' leadership acknowledged the consortium for its “positive engagement” in talks and for “honoring the definitive view” of the proprietors that the organization is off the market.
Brooklyn Earick is a one-time music presenter who also worked in spacecraft research for the space agency before founding his technology firm, which focuses on innovation, communications, athletics and recreation.
His approach was the third inquiry rejected by the team's directors since the sudden departure of top executive Daniel Levy in the fall.
On 8 September, the team rejected approaches from previous club stakeholder Amanda Staveley's the investment firm and a consortium spearheaded by Kennedy and Ng through Firehawk Holdings Limited.
Daniel Levy and his family control about thirty percent of the parent company – which has an nearly 87 percent stake in the club.
The executive was the English top flight's top-tenured leader and is believed to have received in excess of fifty million pounds during his long tenure in the position.
However he was also the target of ongoing dissent by Tottenham supporters, especially last season as home competition outcomes turned out unsatisfactory.
Tottenham claimed their major honor in seventeen years when they beat Manchester United in the May Europa League final.
Related Topics
- Premier League
- The North London club
- Football
