The American entrepreneur Dismisses Spurs Buyout Proposal After Approach
The former chairman oversaw Spurs' relocation to the Tottenham Hotspur Stadium in recent years.
US technology mogul the entrepreneur has rejected submitting an official acquisition offer for Tottenham.
Spurs had before “firmly declined” an preliminary inquiry from a consortium headed by Earick last month and stated the club was not for sale.
But British acquisition regulations stipulated that, after an informal proposal turned down, Earick's consortium had to submit a bid by the October deadline or announce they would refrain.
Verification of the decision was issued in a announcement issued by the club to the stock exchange, indicating the club is “not in an acquisition window.”
The entrepreneur posted an snapshot of the release on social media, adding: “It was a pleasure interacting with the club and the owners' representatives over the past few months.
“I hold deep admiration for the club, its leadership, and its supporters, and desire only the best.”
Spurs' leadership acknowledged the group for its “cooperative stance” in discussions and for “honoring the clear position” of the proprietors that the club is unavailable.
The entrepreneur is a former DJ who also served in space technology for NASA before establishing the innovation company, which specializes in innovation, media, sport and entertainment.
Earick's proposal was the third expression of interest turned down by the team's directors since the sudden departure of executive chairman the former chairman in last month.
In early fall, the team turned down approaches from previous club stakeholder Staveley's the investment firm and a syndicate led by Roger Kennedy and Wing-Fai Ng through the holding company.
The former chairman and his household control about a significant stake of the parent company – which has an almost 87% interest in the club.
Levy was the English top flight's longest-serving chairman and is believed to have earned more than £50m during his long tenure in the position.
But he was also the subject of ongoing dissent by Spurs fans, especially last term as home competition outcomes proved below expectations.
Spurs claimed their major honor in nearly two decades when they defeated the Red Devils in May's Europa League final.
Connected Themes
- Premier League
- The North London club
- Soccer
