Earick Dismisses Spurs Buyout Proposal Post-Initial Contact
The former chairman oversaw Spurs' relocation to the state-of-the-art venue in recent years.
American tech entrepreneur Brooklyn Earick has dismissed submitting an official acquisition offer for Tottenham.
The club had earlier “firmly declined” an unofficial approach from a investment group spearheaded by Brooklyn Earick last period and insisted the team was unavailable for purchase.
Yet the nation's corporate governance laws stipulated that, having had an expression of interest rejected, Earick's consortium needed to make an offer by 24 October or declare they would refrain.
Confirmation of the decision was provided in a release released by Tottenham to the financial markets, indicating the team is “not in an acquisition window.”
The entrepreneur posted an picture of the statement on social media, remarking: “It's been a honor engaging with the club and the Lewis family's delegates over the past few months.
“I hold high regard for the club, its management, and its followers, and wish them only the best.”
The club's board thanked the syndicate for its “constructive approach” in negotiations and for “respecting the definitive view” of the proprietors that the club is off the market.
Earick is a ex-disc jockey who also worked in aerospace studies for Nasa before founding the innovation company, which focuses on technology, entertainment, athletics and recreation.
His approach was the third expression of interest rejected by the club's board since the sudden departure of long-serving chairman the former chairman in last month.
Earlier in September, the organization turned down proposals from ex-Newcastle investor Amanda Staveley's PCP International Finance Limited and a group spearheaded by Roger Kennedy and the co-investor through the holding company.
The former chairman and his household own about a significant stake of Enic Sports & Developments Holdings Ltd – which has an nearly 87 percent shareholding in Tottenham.
The executive was the the league's longest-serving chairman and is estimated to have earned more than £50m during his almost quarter of a century in the position.
However he was also the target of regular protests by Tottenham supporters, particularly last campaign as domestic league results were below expectations.
The north London club secured their major honor in 17 years when they overcame Manchester United in May's European final.
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- The Premier League
- Spurs
- The beautiful game
