Brooklyn Earick Dismisses Spurs Takeover Bid After Approach
Daniel Levy managed Spurs' relocation to the state-of-the-art venue in recent years.
American tech entrepreneur Brooklyn Earick has ruled out submitting an official acquisition offer for Tottenham.
Tottenham had previously “firmly declined” an unofficial approach from a investment group led by the American last month and stated the organization was not for sale.
However the nation's corporate governance laws stipulated that, having had an expression of interest rejected, Earick's consortium needed to make an offer by late October or announce they would not proceed.
Verification of the decision was provided in a statement issued by Tottenham to the financial markets, indicating the team is “no longer in an acquisition window.”
Earick published an picture of the statement on online platforms, stating: “I've had a pleasure discussing with Spurs and the Lewis family's delegates over the past few months.
“I hold great respect for the team, its leadership, and its fans, and desire continued achievements.”
Tottenham's directors expressed gratitude to the consortium for its “positive engagement” in negotiations and for “respecting the definitive view” of the shareholders that the team is unavailable.
The entrepreneur is a former DJ who also was employed in spacecraft research for the space agency before creating Redacted RnD, which concentrates on technology, media, sports and leisure.
The informal offer was the third expression of interest turned down by the team's directors since the unexpected exit of executive chairman the former chairman in September.
Earlier in September, the organization rejected approaches from former Newcastle United shareholder Staveley's PCP International Finance Limited and a syndicate spearheaded by Roger Kennedy and Wing-Fai Ng through the holding company.
The former chairman and his relatives hold about a significant stake of the parent company – which has an majority stake in the club.
The executive was the Premier League's longest-serving chairman and is reported to have earned in excess of fifty million pounds during his nearly 25 years in the capacity.
Yet he was also the subject of ongoing dissent by Tottenham supporters, especially last campaign as home competition outcomes were unsatisfactory.
Spurs secured their initial silverware in nearly two decades when they overcame the Red Devils in last season's European final.
Connected Themes
- English top division
- The North London club
- Football
