The American entrepreneur Dismisses Tottenham Hotspur Acquisition Offer Post-Initial Contact
The long-serving executive managed Spurs' relocation to the state-of-the-art venue in recent years.
US technology mogul the entrepreneur has ruled out launching a buyout proposal for Tottenham.
Spurs had previously “clearly turned down” an preliminary inquiry from a consortium spearheaded by the American last month and insisted the team was unavailable for purchase.
But British acquisition regulations dictated that, having had an expression of interest turned down, Earick's consortium had to submit a bid by 24 October or announce they would not proceed.
Verification of the decision was provided in a statement made by the club to the stock exchange, indicating the team is “ceased to be in an takeover phase.”
The entrepreneur published an snapshot of the release on online platforms, adding: “It's been a honor discussing with the club and the owners' representatives over the past few weeks.
“I maintain high regard for the organization, its executives, and its followers, and desire nothing but success.”
The club's board thanked the group for its “constructive approach” in negotiations and for “honoring the firm stance” of the proprietors that the club is unavailable.
The entrepreneur is a ex-disc jockey who also was employed in spacecraft research for Nasa before founding his technology firm, which concentrates on technology, media, sport and recreation.
Earick's proposal was the third expression of interest turned down by the team's directors since the unexpected exit of top executive Levy in September.
On 8 September, the team rejected proposals from previous club stakeholder Staveley's the investment firm and a consortium headed by Roger Kennedy and Ng through the holding company.
Daniel Levy and his relatives hold about thirty percent of the parent company – which has an nearly 87 percent interest in the club.
He was the Premier League's top-tenured leader and is believed to have received more than £50m during his almost quarter of a century in the capacity.
But he was also the target of ongoing dissent by Spurs fans, particularly last season as domestic league results turned out below expectations.
Spurs secured their initial silverware in nearly two decades when they defeated Manchester United in the May Europa League final.
Connected Themes
- English top division
- Tottenham Hotspur
- The beautiful game