Earick Rejects Tottenham Hotspur Acquisition Offer Following Expression of Interest
The former chairman oversaw Tottenham's move to the state-of-the-art venue in 2019.
Innovative business leader Brooklyn Earick has rejected launching a buyout proposal for the North London club.
Spurs had before “firmly declined” an informal expression of interest from a investment group headed by Earick last month and maintained the club was unavailable for purchase.
Yet UK takeover and merger rules dictated that, after an initial approach turned down, Earick's consortium needed to make an offer by late October or state they would refrain.
Verification of the determination was provided in a statement made by Tottenham to the stock exchange, indicating the team is “no longer in an offer period.”
The entrepreneur shared an snapshot of the statement on social media, adding: “It was a privilege interacting with the club and the owners' representatives over the past few months.
“I hold great respect for the club, its leadership, and its fans, and hope for only the best.”
The club's board expressed gratitude to the consortium for its “constructive approach” in talks and for “honoring the clear position” of the proprietors that the organization is not for sale.
The entrepreneur is a ex-disc jockey who also was employed in space technology for NASA before creating the innovation company, which focuses on technology, media, athletics and recreation.
Earick's proposal was the third inquiry declined by the organization's leadership since the unexpected exit of long-serving chairman Daniel Levy in last month.
Earlier in September, the club rejected proposals from ex-Newcastle investor Amanda Staveley's PCP International Finance Limited and a syndicate headed by Kennedy and Wing-Fai Ng through the holding company.
Levy and his relatives control about 30% of the parent company – which has an almost 87% stake in Tottenham.
The executive was the English top flight's most enduring chair and is reported to have received more than £50m during his almost quarter of a century in the position.
But he was also the focus of regular protests by the club's followers, notably last season as domestic league results were below expectations.
Spurs won their major honor in 17 years when they beat United in the May European final.
Associated Subjects
- English top division
- The North London club
- The beautiful game
