The American entrepreneur Rejects Tottenham Hotspur Acquisition Offer Post-Initial Contact
The long-serving executive managed Spurs' relocation to the Tottenham Hotspur Stadium in 2019.
American tech entrepreneur Brooklyn Earick has dismissed submitting an official acquisition offer for Spurs.
Tottenham had before “unequivocally rejected” an informal expression of interest from a consortium led by Earick last month and insisted the organization was unavailable for purchase.
But UK takeover and merger rules dictated that, following an initial approach rejected, Earick's consortium needed to make an offer by 24 October or state they would not do so.
Official word of the choice was provided in a release made by Spurs to the financial markets, indicating the team is “not in an offer period.”
The entrepreneur posted an image of the statement on social media, adding: “It's been a honor engaging with the club and the owners' agents over the past few months.
“I maintain deep admiration for the organization, its leadership, and its fans, and wish them continued achievements.”
Spurs' leadership acknowledged the consortium for its “constructive approach” in negotiations and for “respecting the firm stance” of the owners that the club is unavailable.
The entrepreneur is a one-time music presenter who also was employed in space technology for the space agency before creating his technology firm, which focuses on innovation, communications, athletics and recreation.
The informal offer was the third approach turned down by the club's board since the abrupt resignation of executive chairman the former chairman in the fall.
Earlier in September, the team declined offers from former Newcastle United shareholder Amanda Staveley's PCP International and a consortium headed by Dr Roger Kennedy and Wing-Fai Ng through the holding company.
Daniel Levy and his household control about 30% of Enic Holdings – which has an nearly 87 percent stake in Tottenham.
The executive was the the league's top-tenured leader and is reported to have received in excess of fifty million pounds during his nearly 25 years in the capacity.
Yet he was also the focus of frequent demonstrations by Spurs fans, particularly last campaign as Premier League performances turned out unsatisfactory.
The north London club claimed their first trophy in seventeen years when they defeated the Red Devils in last season's continental decider.
Related Topics
- The Premier League
- The North London club
- Soccer
