The American entrepreneur Rules Out Tottenham Hotspur Buyout Proposal Post-Initial Contact
The long-serving executive managed Tottenham's transition to the club's new home in 2019.
US technology mogul Brooklyn Earick has ruled out making a formal takeover bid for Spurs.
The club had previously “unequivocally rejected” an unofficial approach from a investment group spearheaded by Brooklyn Earick last month and maintained the organization was off the market.
However the nation's corporate governance laws required that, following an initial approach rejected, the interested parties needed to make an offer by late October or declare they would refrain.
Verification of the decision was issued in a release issued by Spurs to the London Stock Exchange, confirming the team is “ceased to be in an offer period.”
He published an picture of the announcement on online platforms, adding: “I've had a privilege interacting with the club and the Lewis family's agents over the past few months.
“I have deep admiration for the organization, its executives, and its supporters, and hope for continued achievements.”
Tottenham's directors thanked the syndicate for its “constructive approach” in negotiations and for “acknowledging the firm stance” of the proprietors that the club is not for sale.
Brooklyn Earick is a one-time music presenter who also served in aerospace studies for Nasa before founding the innovation company, which concentrates on technology, entertainment, athletics and recreation.
Earick's proposal was the third expression of interest rejected by the organization's leadership since the unexpected exit of long-serving chairman the former chairman in September.
In early fall, the club rejected approaches from ex-Newcastle investor the financier's the investment firm and a group led by Roger Kennedy and the co-investor through the holding company.
Daniel Levy and his family hold about a significant stake of Enic Sports & Developments Holdings Ltd – which has an almost 87% interest in the club.
He was the English top flight's top-tenured leader and is believed to have received over £50 million during his almost quarter of a century in the role.
But he was also the subject of ongoing dissent by Tottenham supporters, particularly last term as home competition outcomes proved disappointing.
The north London club won their initial silverware in nearly two decades when they beat Manchester United in the May continental decider.
Related Topics
- English top division
- The North London club
- Soccer
