The American entrepreneur Rules Out Tottenham Hotspur Acquisition Offer Following Expression of Interest
The former chairman directed Tottenham's transition to the club's new home in 2019.
American tech entrepreneur Brooklyn Earick has dismissed submitting an official acquisition offer for Spurs.
Tottenham had earlier “unequivocally rejected” an informal expression of interest from a syndicate spearheaded by the American last month and insisted the team was not for sale.
Yet UK takeover and merger rules stipulated that, following an expression of interest rejected, the interested parties were obligated to present a formal offer by 24 October or state they would not proceed.
Verification of the decision was provided in a release released by Tottenham to the stock exchange, confirming the team is “not in an takeover phase.”
Earick published an image of the statement on online platforms, remarking: “It's been a pleasure engaging with Tottenham Hotspur and the owners' delegates over the past few weeks.
“I hold great respect for the organization, its executives, and its supporters, and desire only the best.”
Spurs' leadership thanked the consortium for its “positive engagement” in negotiations and for “honoring the clear position” of the owners that the team is off the market.
The entrepreneur is a one-time music presenter who also was employed in aerospace studies for NASA before founding the innovation company, which focuses on tech, media, sport and recreation.
Earick's proposal was the third approach declined by the club's board since the sudden departure of long-serving chairman the former chairman in last month.
Earlier in September, the club declined offers from ex-Newcastle investor the financier's PCP International Finance Limited and a syndicate headed by Roger Kennedy and the co-investor through the holding company.
The former chairman and his household control about a significant stake of Enic Holdings – which has an majority stake in the club.
He was the Premier League's top-tenured leader and is believed to have made in excess of fifty million pounds during his long tenure in the position.
Yet he was also the target of frequent demonstrations by Spurs fans, especially last season as home competition outcomes proved unsatisfactory.
Tottenham won their initial silverware in seventeen years when they defeated the Red Devils in the May European final.
Connected Themes
- The Premier League
- Tottenham Hotspur
- Soccer
