The American entrepreneur Rejects Spurs Buyout Proposal Post-Initial Contact
Daniel Levy directed Spurs' transition to the state-of-the-art venue in 2019.
American tech entrepreneur Earick has rejected launching a buyout proposal for Tottenham.
Tottenham had earlier “clearly turned down” an preliminary inquiry from a consortium headed by the American last month and stated the club was unavailable for purchase.
However UK takeover and merger rules stipulated that, following an expression of interest declined, the group had to submit a bid by late October or declare they would refrain.
Official word of the choice was made in a announcement released by Spurs to the stock exchange, confirming the club is “no longer in an acquisition window.”
Earick posted an snapshot of the statement on online platforms, remarking: “I've had a honor engaging with the club and the owners' delegates over the past few months.
“I hold deep admiration for the club, its leadership, and its supporters, and hope for nothing but success.”
Spurs' leadership expressed gratitude to the consortium for its “cooperative stance” in talks and for “acknowledging the firm stance” of the owners that the organization is not for sale.
Earick is a ex-disc jockey who also served in space technology for NASA before creating Redacted RnD, which specializes in tech, entertainment, sport and leisure.
The informal offer was the latest inquiry declined by the team's directors since the sudden departure of executive chairman Levy in last month.
In early fall, the club turned down offers from former Newcastle United shareholder Amanda Staveley's PCP International Finance Limited and a consortium spearheaded by Roger Kennedy and the co-investor through the holding company.
The former chairman and his relatives hold about 30% of Enic Holdings – which has an majority shareholding in Spurs.
The executive was the English top flight's most enduring chair and is believed to have made over £50 million during his nearly 25 years in the position.
Yet he was also the focus of ongoing dissent by the club's followers, particularly last campaign as home competition outcomes were unsatisfactory.
The north London club claimed their initial silverware in seventeen years when they defeated the Red Devils in last season's Europa League final.
Associated Subjects
- The Premier League
- Tottenham Hotspur
- The beautiful game
