The American entrepreneur Dismisses Tottenham Hotspur Buyout Proposal Following Expression of Interest
Daniel Levy oversaw Tottenham's transition to the Tottenham Hotspur Stadium in the year 2019.
US technology mogul Brooklyn Earick has ruled out launching a buyout proposal for Spurs.
Tottenham had before “clearly turned down” an unofficial approach from a consortium led by the American last month and insisted the organization was off the market.
But UK takeover and merger rules required that, having had an expression of interest rejected, Earick's consortium were obligated to present a formal offer by 24 October or state they would not do so.
Confirmation of the determination was provided in a statement issued by Spurs to the financial markets, indicating the organization is “not in an offer period.”
He published an snapshot of the statement on social media, remarking: “It was a privilege interacting with Spurs and the owners' delegates over the past few months.
“I hold deep admiration for the organization, its leadership, and its supporters, and hope for nothing but success.”
Spurs' leadership acknowledged the syndicate for its “cooperative stance” in discussions and for “acknowledging the clear position” of the owners that the team is unavailable.
Earick is a former DJ who also served in spacecraft research for the space agency before founding Redacted RnD, which focuses on technology, entertainment, sports and recreation.
His approach was the third expression of interest rejected by the team's directors since the abrupt resignation of top executive Daniel Levy in last month.
In early fall, the organization declined approaches from former Newcastle United shareholder Staveley's the investment firm and a syndicate spearheaded by Dr Roger Kennedy and Ng through Firehawk Holdings.
Levy and his family hold about 30% of Enic Holdings – which has an almost 87% stake in the club.
He was the English top flight's longest-serving chairman and is reported to have received more than £50m during his almost quarter of a century in the role.
Yet he was also the target of ongoing dissent by Tottenham supporters, especially last season as home competition outcomes proved unsatisfactory.
Tottenham secured their first trophy in nearly two decades when they defeated Manchester United in May's continental decider.
Associated Subjects
- Premier League
- Spurs
- Football
