Earick Dismisses Tottenham Hotspur Buyout Proposal After Approach
The long-serving executive managed Spurs' relocation to the club's new home in the year 2019.
Innovative business leader Brooklyn Earick has dismissed making a formal takeover bid for Spurs.
Tottenham had before “unequivocally rejected” an unofficial approach from a investment group headed by Earick last month and insisted the team was unavailable for purchase.
However UK takeover and merger rules required that, after an expression of interest rejected, the interested parties needed to make an offer by the October deadline or declare they would not do so.
Confirmation of the decision was provided in a announcement released by Tottenham to the financial markets, indicating the team is “no longer in an acquisition window.”
Earick posted an snapshot of the release on social media, adding: “I've had a pleasure discussing with Tottenham Hotspur and the Lewis family's delegates over the past few months.
“I maintain great respect for the organization, its leadership, and its followers, and desire continued achievements.”
Tottenham's directors acknowledged the consortium for its “cooperative stance” in negotiations and for “acknowledging the firm stance” of the shareholders that the club is unavailable.
Earick is a one-time music presenter who also served in aerospace studies for NASA before founding his technology firm, which specializes in innovation, communications, sport and recreation.
His approach was the third approach declined by the team's directors since the sudden departure of long-serving chairman the former chairman in the fall.
On 8 September, the organization turned down offers from previous club stakeholder Staveley's the investment firm and a syndicate led by Kennedy and Ng through Firehawk Holdings Limited.
The former chairman and his household own about a significant stake of Enic Sports & Developments Holdings Ltd – which has an almost 87% interest in Spurs.
He was the English top flight's top-tenured leader and is believed to have made over £50 million during his almost quarter of a century in the capacity.
Yet he was also the target of ongoing dissent by Tottenham supporters, particularly last term as Premier League performances proved unsatisfactory.
Tottenham won their first trophy in 17 years when they defeated Manchester United in the May Europa League final.
Associated Subjects
- The Premier League
- Spurs
- The beautiful game
