Earick Rejects Tottenham Hotspur Takeover Bid Post-Initial Contact
Daniel Levy managed Tottenham's relocation to the state-of-the-art venue in 2019.
Innovative business leader Earick has ruled out submitting an official acquisition offer for Spurs.
Spurs had previously “firmly declined” an unofficial approach from a investment group spearheaded by the American last month and maintained the club was unavailable for purchase.
But British acquisition regulations stipulated that, following an expression of interest turned down, Earick's consortium needed to make an offer by late October or announce they would not do so.
Verification of the choice was issued in a release released by Spurs to the financial markets, confirming the club is “no longer in an acquisition window.”
Earick published an picture of the statement on social media, stating: “I've had a honor interacting with Tottenham Hotspur and the Lewis family's agents over the past few months.
“I maintain great respect for the club, its management, and its followers, and wish them nothing but success.”
Tottenham's directors expressed gratitude to the consortium for its “constructive approach” in talks and for “acknowledging the firm stance” of the proprietors that the organization is off the market.
Earick is a former DJ who also worked in space technology for Nasa before establishing the innovation company, which specializes in innovation, media, sport and leisure.
His approach was the latest approach rejected by the club's board since the abrupt resignation of long-serving chairman Daniel Levy in the fall.
Earlier in September, the organization rejected proposals from ex-Newcastle investor Staveley's PCP International Finance Limited and a group led by Roger Kennedy and Ng through Firehawk Holdings Limited.
Levy and his household hold about 30% of the parent company – which has an nearly 87 percent stake in the club.
The executive was the the league's longest-serving chairman and is reported to have made over £50 million during his nearly 25 years in the role.
Yet he was also the focus of ongoing dissent by Tottenham supporters, especially last campaign as Premier League performances proved unsatisfactory.
The north London club claimed their major honor in 17 years when they overcame United in the May continental decider.
Associated Subjects
- The Premier League
- The North London club
- Football