Earick Rejects Tottenham Hotspur Takeover Bid After Approach
Daniel Levy oversaw Spurs' transition to the Tottenham Hotspur Stadium in recent years.
American tech entrepreneur Earick has dismissed making a formal takeover bid for Tottenham.
Tottenham had earlier “firmly declined” an unofficial approach from a investment group headed by Earick last period and maintained the team was unavailable for purchase.
Yet UK takeover and merger rules stipulated that, after an expression of interest turned down, the group needed to make an offer by late October or announce they would not do so.
Confirmation of the determination was provided in a announcement made by Spurs to the London Stock Exchange, confirming the club is “ceased to be in an acquisition window.”
Earick shared an picture of the statement on social media, remarking: “It was a honor engaging with the club and the Lewis family's agents over the past few months.
“I hold high regard for the team, its executives, and its fans, and hope for only the best.”
Tottenham's directors thanked the group for its “positive engagement” in negotiations and for “acknowledging the clear position” of the proprietors that the club is not for sale.
The entrepreneur is a former DJ who also worked in aerospace studies for the space agency before founding the innovation company, which concentrates on technology, entertainment, sport and recreation.
Earick's proposal was the third inquiry turned down by the club's board since the sudden departure of top executive the former chairman in the fall.
Earlier in September, the organization rejected approaches from former Newcastle United shareholder the financier's PCP International and a group headed by Roger Kennedy and Ng through Firehawk Holdings.
Daniel Levy and his relatives control about thirty percent of Enic Holdings – which has an majority interest in the club.
Levy was the Premier League's most enduring chair and is reported to have earned in excess of fifty million pounds during his almost quarter of a century in the position.
Yet he was also the focus of ongoing dissent by Tottenham supporters, particularly last term as domestic league results turned out disappointing.
The north London club claimed their major honor in seventeen years when they beat the Red Devils in the May Europa League final.
Connected Themes
- English top division
- Tottenham Hotspur
- The beautiful game
