The American entrepreneur Dismisses Tottenham Hotspur Acquisition Offer After Approach
Daniel Levy oversaw Tottenham's relocation to the club's new home in the year 2019.
Innovative business leader Brooklyn Earick has rejected making a formal takeover bid for Spurs.
Spurs had before “firmly declined” an preliminary inquiry from a investment group headed by Brooklyn Earick last period and maintained the organization was not for sale.
But UK takeover and merger rules dictated that, following an informal proposal rejected, Earick's consortium were obligated to present a formal offer by late October or state they would not proceed.
Confirmation of the decision was provided in a announcement released by Spurs to the financial markets, confirming the team is “not in an acquisition window.”
Earick posted an image of the release on online platforms, stating: “It was a privilege discussing with Spurs and the Lewis family's delegates over the past few weeks.
“I hold high regard for the organization, its executives, and its fans, and wish them continued achievements.”
The club's board acknowledged the group for its “cooperative stance” in talks and for “respecting the definitive view” of the proprietors that the organization is off the market.
Earick is a one-time music presenter who also was employed in aerospace studies for the space agency before creating Redacted RnD, which focuses on technology, media, athletics and leisure.
Earick's proposal was the latest approach declined by the team's directors since the sudden departure of top executive Daniel Levy in the fall.
In early fall, the team turned down approaches from former Newcastle United shareholder the financier's the investment firm and a consortium led by Kennedy and Ng through Firehawk Holdings Limited.
Daniel Levy and his household control about a significant stake of Enic Sports & Developments Holdings Ltd – which has an almost 87% interest in Tottenham.
He was the English top flight's top-tenured leader and is estimated to have earned over £50 million during his nearly 25 years in the role.
Yet he was also the focus of regular protests by Spurs fans, particularly last season as Premier League performances turned out disappointing.
Tottenham claimed their first trophy in 17 years when they beat United in the May European final.
Related Topics
- Premier League
- The North London club
- Football
