The American entrepreneur Dismisses Tottenham Hotspur Buyout Proposal Post-Initial Contact
The long-serving executive directed Tottenham's transition to the state-of-the-art venue in the year 2019.
US technology mogul Earick has ruled out launching a buyout proposal for Spurs.
Spurs had previously “firmly declined” an informal expression of interest from a syndicate led by Earick last month and insisted the organization was not for sale.
However British acquisition regulations required that, following an informal proposal declined, the interested parties had to submit a bid by late October or declare they would refrain.
Verification of the determination was provided in a announcement released by the club to the London Stock Exchange, stating the club is “no longer in an takeover phase.”
Earick published an picture of the release on digital channels, stating: “I've had a privilege interacting with Tottenham Hotspur and the Lewis family's delegates over the past few months.
“I hold deep admiration for the team, its leadership, and its fans, and desire only the best.”
Tottenham's directors expressed gratitude to the syndicate for its “cooperative stance” in talks and for “respecting the definitive view” of the proprietors that the club is off the market.
The entrepreneur is a former DJ who also served in space technology for the space agency before establishing Redacted RnD, which concentrates on technology, entertainment, sport and recreation.
His approach was the third inquiry rejected by the club's board since the unexpected exit of long-serving chairman Daniel Levy in last month.
Earlier in September, the club declined proposals from former Newcastle United shareholder the financier's PCP International Finance Limited and a consortium headed by Roger Kennedy and Wing-Fai Ng through Firehawk Holdings.
Daniel Levy and his household control about a significant stake of Enic Sports & Developments Holdings Ltd – which has an almost 87% shareholding in the club.
He was the the league's most enduring chair and is reported to have earned in excess of fifty million pounds during his long tenure in the role.
Yet he was also the subject of frequent demonstrations by Spurs fans, notably last term as home competition outcomes were disappointing.
Tottenham secured their first trophy in nearly two decades when they beat Manchester United in May's European final.
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- Premier League
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