Brooklyn Earick Rules Out Spurs Buyout Proposal Post-Initial Contact

Innovative business leader Earick has rejected launching a buyout proposal for Spurs.

Spurs had earlier “unequivocally rejected” an informal expression of interest from a consortium led by the American last month and stated the club was unavailable for purchase.

But the nation's corporate governance laws dictated that, following an initial approach declined, Earick's consortium had to submit a bid by late October or declare they would not proceed.

Confirmation of the choice was made in a statement issued by the club to the financial markets, indicating the organization is “no longer in an offer period.”

The entrepreneur published an picture of the release on online platforms, adding: “It's been a pleasure interacting with the club and the Lewis family's representatives over the past few weeks.

“I hold great respect for the club, its management, and its followers, and hope for only the best.”

Tottenham's directors expressed gratitude to the group for its “positive engagement” in talks and for “respecting the firm stance” of the shareholders that the team is unavailable.

Earick is a ex-disc jockey who also served in space technology for Nasa before creating his technology firm, which specializes in tech, entertainment, sports and leisure.

Earick's proposal was the third approach declined by the team's directors since the abrupt resignation of executive chairman Daniel Levy in last month.

In early fall, the organization declined offers from former Newcastle United shareholder Amanda Staveley's PCP International and a syndicate led by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.

Daniel Levy and his relatives own about a significant stake of the parent company – which has an nearly 87 percent interest in Spurs.

Levy was the Premier League's top-tenured leader and is believed to have made in excess of fifty million pounds during his almost quarter of a century in the role.

Yet he was also the target of regular protests by the club's followers, especially last season as home competition outcomes turned out below expectations.

Spurs won their major honor in nearly two decades when they defeated United in the May European final.

Connected Themes

• The Premier League
• Tottenham Hotspur
• Football