Earick Rules Out Tottenham Hotspur Buyout Proposal Following Expression of Interest
The former chairman oversaw Spurs' relocation to the club's new home in the year 2019.
American tech entrepreneur the entrepreneur has ruled out making a formal takeover bid for Tottenham.
Spurs had earlier “firmly declined” an unofficial approach from a consortium spearheaded by the American last month and stated the organization was not for sale.
Yet the nation's corporate governance laws stipulated that, following an initial approach rejected, the group had to submit a bid by 24 October or declare they would refrain.
Verification of the decision was provided in a statement released by Tottenham to the stock exchange, stating the club is “not in an takeover phase.”
He posted an snapshot of the announcement on digital channels, adding: “It's been a privilege engaging with Tottenham Hotspur and the owners' representatives over the past few months.
“I maintain deep admiration for the team, its leadership, and its supporters, and hope for only the best.”
Tottenham's directors expressed gratitude to the syndicate for its “positive engagement” in discussions and for “honoring the definitive view” of the shareholders that the team is not for sale.
The entrepreneur is a former DJ who also was employed in space technology for the space agency before establishing the innovation company, which specializes in technology, media, sports and entertainment.
Earick's proposal was the latest inquiry turned down by the team's directors since the abrupt resignation of executive chairman the former chairman in the fall.
On 8 September, the organization turned down offers from ex-Newcastle investor Staveley's PCP International Finance Limited and a consortium spearheaded by Dr Roger Kennedy and Ng through Firehawk Holdings Limited.
Daniel Levy and his relatives hold about 30% of Enic Sports & Developments Holdings Ltd – which has an nearly 87 percent shareholding in Spurs.
Levy was the the league's most enduring chair and is reported to have received over £50 million during his nearly 25 years in the position.
Yet he was also the target of frequent demonstrations by Tottenham supporters, particularly last term as domestic league results were unsatisfactory.
Spurs secured their major honor in nearly two decades when they beat Manchester United in May's European final.
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