Earick Dismisses Tottenham Hotspur Takeover Bid After Approach
The former chairman oversaw Spurs' move to the Tottenham Hotspur Stadium in recent years.
Innovative business leader Brooklyn Earick has dismissed submitting an official acquisition offer for Tottenham.
Tottenham had earlier “clearly turned down” an preliminary inquiry from a syndicate led by the American last month and insisted the organization was not for sale.
Yet the nation's corporate governance laws dictated that, following an informal proposal turned down, the interested parties needed to make an offer by the October deadline or announce they would refrain.
Verification of the decision was provided in a announcement issued by the club to the stock exchange, indicating the team is “ceased to be in an takeover phase.”
The entrepreneur shared an picture of the announcement on online platforms, adding: “I've had a pleasure interacting with the club and the owners' representatives over the past few weeks.
“I maintain great respect for the organization, its management, and its supporters, and wish them only the best.”
Spurs' leadership expressed gratitude to the group for its “positive engagement” in discussions and for “honoring the definitive view” of the owners that the club is not for sale.
The entrepreneur is a ex-disc jockey who also was employed in spacecraft research for NASA before establishing his technology firm, which focuses on innovation, entertainment, sports and leisure.
Earick's proposal was the third inquiry declined by the organization's leadership since the sudden departure of long-serving chairman Levy in September.
Earlier in September, the team turned down approaches from former Newcastle United shareholder Amanda Staveley's PCP International and a consortium headed by Kennedy and Wing-Fai Ng through the holding company.
The former chairman and his family own about thirty percent of Enic Holdings – which has an almost 87% shareholding in Spurs.
The executive was the English top flight's top-tenured leader and is reported to have received over £50 million during his nearly 25 years in the role.
However he was also the subject of frequent demonstrations by the club's followers, especially last campaign as home competition outcomes were disappointing.
The north London club secured their first trophy in nearly two decades when they beat United in the May continental decider.
Associated Subjects
- The Premier League
- Spurs
- Soccer