The American entrepreneur Dismisses Tottenham Hotspur Acquisition Offer Post-Initial Contact
The former chairman directed Tottenham's relocation to the Tottenham Hotspur Stadium in the year 2019.
American tech entrepreneur the entrepreneur has ruled out making a formal takeover bid for the North London club.
Tottenham had earlier “firmly declined” an informal expression of interest from a syndicate led by the American last month and stated the team was off the market.
However British acquisition regulations stipulated that, having had an initial approach declined, Earick's consortium needed to make an offer by 24 October or state they would not proceed.
Confirmation of the decision was issued in a release made by Spurs to the London Stock Exchange, confirming the team is “no longer in an takeover phase.”
Earick shared an picture of the announcement on online platforms, stating: “It was a pleasure interacting with Tottenham Hotspur and the Lewis family's delegates over the past few months.
“I have great respect for the club, its management, and its followers, and hope for only the best.”
Spurs' leadership thanked the group for its “constructive approach” in negotiations and for “respecting the clear position” of the shareholders that the club is not for sale.
Earick is a ex-disc jockey who also was employed in space technology for NASA before founding his technology firm, which specializes in innovation, entertainment, sport and entertainment.
The informal offer was the third inquiry declined by the organization's leadership since the unexpected exit of executive chairman the former chairman in September.
Earlier in September, the club declined approaches from former Newcastle United shareholder Staveley's PCP International and a syndicate spearheaded by Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
The former chairman and his household control about a significant stake of Enic Sports & Developments Holdings Ltd – which has an almost 87% shareholding in the club.
Levy was the Premier League's most enduring chair and is reported to have earned over £50 million during his almost quarter of a century in the capacity.
However he was also the focus of ongoing dissent by Tottenham supporters, especially last term as domestic league results were unsatisfactory.
Spurs secured their major honor in seventeen years when they beat the Red Devils in the May European final.
Associated Subjects
- The Premier League
- Tottenham Hotspur
- Soccer
