The American entrepreneur Rules Out Tottenham Hotspur Acquisition Offer After Approach
The long-serving executive oversaw Tottenham's transition to the state-of-the-art venue in recent years.
US technology mogul Earick has rejected making a formal takeover bid for Tottenham.
Spurs had before “firmly declined” an preliminary inquiry from a consortium led by Earick last month and insisted the club was not for sale.
Yet UK takeover and merger rules dictated that, after an informal proposal rejected, the interested parties needed to make an offer by 24 October or announce they would refrain.
Verification of the decision was issued in a statement issued by Spurs to the stock exchange, stating the club is “ceased to be in an acquisition window.”
Earick posted an picture of the statement on social media, adding: “It's been a honor engaging with Spurs and the owners' representatives over the past few months.
“I maintain high regard for the team, its executives, and its fans, and wish them only the best.”
Spurs' leadership thanked the consortium for its “positive engagement” in talks and for “acknowledging the definitive view” of the owners that the team is unavailable.
Earick is a one-time music presenter who also served in spacecraft research for NASA before establishing his technology firm, which focuses on tech, communications, athletics and entertainment.
His approach was the latest inquiry declined by the club's board since the sudden departure of long-serving chairman Daniel Levy in the fall.
On 8 September, the team rejected proposals from ex-Newcastle investor Staveley's the investment firm and a group headed by Kennedy and Ng through Firehawk Holdings Limited.
Daniel Levy and his relatives control about 30% of the parent company – which has an nearly 87 percent interest in Spurs.
The executive was the Premier League's longest-serving chairman and is reported to have received in excess of fifty million pounds during his almost quarter of a century in the position.
But he was also the target of ongoing dissent by Tottenham supporters, notably last term as domestic league results proved disappointing.
The north London club won their initial silverware in seventeen years when they overcame United in May's Europa League final.
Connected Themes
- The Premier League
- Spurs
- Soccer
