Earick Rules Out Tottenham Hotspur Buyout Proposal Post-Initial Contact
The long-serving executive directed Spurs' relocation to the club's new home in recent years.
American tech entrepreneur the entrepreneur has ruled out submitting an official acquisition offer for the North London club.
Tottenham had before “unequivocally rejected” an unofficial approach from a syndicate headed by the American last month and maintained the team was off the market.
However the nation's corporate governance laws dictated that, following an expression of interest declined, the group had to submit a bid by the October deadline or announce they would not do so.
Official word of the decision was made in a release made by the club to the financial markets, stating the organization is “no longer in an acquisition window.”
The entrepreneur published an snapshot of the release on digital channels, remarking: “It's been a privilege interacting with the club and the Lewis family's agents over the past few weeks.
“I hold deep admiration for the organization, its leadership, and its followers, and wish them continued achievements.”
Tottenham's directors expressed gratitude to the consortium for its “cooperative stance” in talks and for “honoring the firm stance” of the shareholders that the organization is unavailable.
Earick is a ex-disc jockey who also served in spacecraft research for Nasa before creating Redacted RnD, which focuses on technology, communications, sports and leisure.
His approach was the third inquiry rejected by the organization's leadership since the unexpected exit of long-serving chairman Daniel Levy in last month.
On 8 September, the club turned down offers from former Newcastle United shareholder the financier's PCP International Finance Limited and a syndicate spearheaded by Roger Kennedy and Ng through Firehawk Holdings.
The former chairman and his family own about 30% of the parent company – which has an majority shareholding in Tottenham.
He was the Premier League's top-tenured leader and is reported to have made more than £50m during his nearly 25 years in the role.
However he was also the subject of frequent demonstrations by Tottenham supporters, especially last term as home competition outcomes turned out unsatisfactory.
Spurs claimed their major honor in seventeen years when they overcame Manchester United in May's Europa League final.
Related Topics
- English top division
- Tottenham Hotspur
- Soccer
