The American entrepreneur Rejects Tottenham Hotspur Buyout Proposal Post-Initial Contact
The former chairman managed Spurs' relocation to the state-of-the-art venue in the year 2019.
American tech entrepreneur the entrepreneur has rejected launching a buyout proposal for the North London club.
Tottenham had before “clearly turned down” an informal expression of interest from a consortium spearheaded by the American last month and maintained the team was off the market.
But the nation's corporate governance laws required that, after an initial approach declined, Earick's consortium had to submit a bid by late October or announce they would refrain.
Official word of the choice was provided in a release issued by Tottenham to the London Stock Exchange, confirming the team is “not in an acquisition window.”
He published an snapshot of the announcement on social media, stating: “I've had a pleasure interacting with the club and the Lewis family's delegates over the past few weeks.
“I have great respect for the organization, its management, and its followers, and desire nothing but success.”
Tottenham's directors acknowledged the group for its “positive engagement” in talks and for “respecting the firm stance” of the owners that the team is unavailable.
The entrepreneur is a former DJ who also served in space technology for NASA before creating Redacted RnD, which focuses on innovation, communications, athletics and leisure.
The informal offer was the latest inquiry declined by the club's board since the abrupt resignation of executive chairman the former chairman in the fall.
On 8 September, the organization turned down proposals from ex-Newcastle investor the financier's PCP International and a consortium spearheaded by Kennedy and Ng through the holding company.
Daniel Levy and his relatives hold about 30% of Enic Holdings – which has an majority stake in Spurs.
The executive was the the league's top-tenured leader and is reported to have received more than £50m during his long tenure in the position.
However he was also the target of frequent demonstrations by Tottenham supporters, especially last campaign as home competition outcomes proved disappointing.
Spurs secured their first trophy in 17 years when they beat Manchester United in May's continental decider.
Connected Themes
- English top division
- The North London club
- Football
