The American entrepreneur Rules Out Tottenham Hotspur Buyout Proposal After Approach
The long-serving executive managed Tottenham's transition to the club's new home in the year 2019.
US technology mogul the entrepreneur has dismissed making a formal takeover bid for Tottenham.
The club had before “firmly declined” an preliminary inquiry from a consortium spearheaded by Earick last period and maintained the club was off the market.
But British acquisition regulations dictated that, having had an informal proposal turned down, the interested parties had to submit a bid by 24 October or announce they would not do so.
Confirmation of the choice was issued in a announcement issued by Spurs to the London Stock Exchange, confirming the team is “ceased to be in an offer period.”
He shared an snapshot of the release on social media, adding: “I've had a pleasure discussing with the club and the owners' agents over the past few months.
“I hold high regard for the team, its leadership, and its supporters, and wish them only the best.”
The club's board acknowledged the syndicate for its “constructive approach” in negotiations and for “honoring the clear position” of the shareholders that the club is not for sale.
Earick is a one-time music presenter who also was employed in space technology for the space agency before creating the innovation company, which concentrates on tech, media, sports and entertainment.
The informal offer was the latest expression of interest turned down by the club's board since the sudden departure of executive chairman the former chairman in last month.
On 8 September, the team declined proposals from ex-Newcastle investor Amanda Staveley's PCP International and a consortium led by Dr Roger Kennedy and Ng through Firehawk Holdings.
Daniel Levy and his family control about a significant stake of Enic Sports & Developments Holdings Ltd – which has an majority shareholding in the club.
He was the English top flight's most enduring chair and is estimated to have made more than £50m during his long tenure in the capacity.
Yet he was also the focus of ongoing dissent by the club's followers, particularly last campaign as home competition outcomes turned out disappointing.
Spurs claimed their initial silverware in seventeen years when they overcame United in May's continental decider.
Connected Themes
- English top division
- Tottenham Hotspur
- Football
