Earick Rules Out Spurs Acquisition Offer Post-Initial Contact
Daniel Levy directed Spurs' move to the club's new home in 2019.
US technology mogul Earick has ruled out launching a buyout proposal for Tottenham.
Tottenham had earlier “clearly turned down” an informal expression of interest from a consortium led by Earick last period and stated the organization was not for sale.
But the nation's corporate governance laws stipulated that, after an informal proposal rejected, Earick's consortium had to submit a bid by late October or state they would refrain.
Confirmation of the determination was made in a statement made by Spurs to the London Stock Exchange, confirming the team is “not in an acquisition window.”
The entrepreneur shared an snapshot of the announcement on online platforms, stating: “It was a privilege engaging with the club and the owners' delegates over the past few months.
“I maintain deep admiration for the organization, its leadership, and its fans, and wish them nothing but success.”
The club's board thanked the group for its “constructive approach” in discussions and for “acknowledging the definitive view” of the proprietors that the team is not for sale.
The entrepreneur is a former DJ who also was employed in spacecraft research for Nasa before creating the innovation company, which specializes in innovation, entertainment, sport and recreation.
Earick's proposal was the third inquiry rejected by the organization's leadership since the unexpected exit of top executive Levy in September.
Earlier in September, 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.
Daniel Levy and his household control about 30% of the parent company – which has an majority interest in Tottenham.
The executive was the English top flight's top-tenured leader and is estimated to have received in excess of fifty million pounds during his nearly 25 years in the role.
Yet he was also the subject of frequent demonstrations by the club's followers, notably last campaign as Premier League performances proved below expectations.
Tottenham won their major honor in 17 years when they defeated Manchester United in May's Europa League final.
Connected Themes
- The Premier League
- Tottenham Hotspur
- Soccer