Earick Rules Out Spurs Takeover Bid After Approach
The long-serving executive directed Tottenham's move to the state-of-the-art venue in 2019.
Innovative business leader Brooklyn Earick has dismissed launching a buyout proposal for the North London club.
Spurs had previously “firmly declined” an preliminary inquiry from a investment group led by Earick last month and stated the club was unavailable for purchase.
But UK takeover and merger rules stipulated that, following an initial approach turned down, the group had to submit a bid by 24 October or announce they would not do so.
Verification of the choice was provided in a announcement issued by Tottenham to the stock exchange, indicating the club is “no longer in an acquisition window.”
The entrepreneur published an image of the statement on online platforms, stating: “It was a pleasure engaging with Tottenham Hotspur and the owners' agents over the past few months.
“I maintain deep admiration for the organization, its management, and its supporters, and desire continued achievements.”
Spurs' leadership thanked the consortium for its “constructive approach” in negotiations and for “acknowledging the clear position” of the proprietors that the organization is unavailable.
The entrepreneur is a one-time music presenter who also was employed in aerospace studies for NASA before founding his technology firm, which concentrates on tech, media, athletics and recreation.
Earick's proposal was the latest approach rejected by the club's board since the sudden departure of top executive Daniel Levy in September.
Earlier in September, the club declined proposals from ex-Newcastle investor Amanda Staveley's the investment firm and a group spearheaded by Kennedy and Ng through Firehawk Holdings.
The former chairman and his family control about 30% of Enic Sports & Developments Holdings Ltd – which has an nearly 87 percent interest in Tottenham.
Levy was the English top flight's most enduring chair and is believed to have received over £50 million during his long tenure in the role.
Yet he was also the subject of frequent demonstrations by the club's followers, especially last campaign as home competition outcomes were unsatisfactory.
Spurs secured their initial silverware in seventeen years when they beat United in last season's European final.
Related Topics
- The Premier League
- The North London club
- Soccer