The American entrepreneur Dismisses Tottenham Hotspur Acquisition Offer Post-Initial Contact
The former chairman directed Tottenham's relocation to the state-of-the-art venue in 2019.
US technology mogul Earick has dismissed launching a buyout proposal for the North London club.
Tottenham had earlier “clearly turned down” an unofficial approach from a investment group led by the American last month and stated the organization was off the market.
Yet UK takeover and merger rules stipulated that, following an initial approach turned down, the group had to submit a bid by 24 October or state they would refrain.
Verification of the decision was made in a statement issued by Spurs to the London Stock Exchange, confirming the team is “no longer in an acquisition window.”
Earick shared an picture of the statement on social media, stating: “It's been a honor engaging with Spurs and the Lewis family's delegates over the past few weeks.
“I hold great respect for the club, its management, and its followers, and desire only the best.”
Spurs' leadership expressed gratitude to the group for its “positive engagement” in negotiations and for “honoring the definitive view” of the owners that the club is unavailable.
The entrepreneur is a former DJ who also worked in aerospace studies for Nasa before establishing Redacted RnD, which specializes in tech, media, sports and entertainment.
His approach was the latest inquiry declined by the organization's leadership since the unexpected exit of top executive Daniel Levy in last month.
Earlier in September, the club turned down proposals from ex-Newcastle investor Staveley's PCP International Finance Limited and a group headed by Kennedy and the co-investor through Firehawk Holdings.
Daniel Levy and his family hold about thirty percent of Enic Holdings – which has an nearly 87 percent shareholding in the club.
He was the Premier League's top-tenured leader and is estimated to have made more than £50m during his nearly 25 years in the role.
But he was also the focus of ongoing dissent by Spurs fans, notably last term as home competition outcomes proved unsatisfactory.
The north London club won their first trophy in nearly two decades when they defeated United in May's continental decider.
Related Topics
- The Premier League
- Spurs
- Soccer