Brooklyn Earick Rules Out Spurs Buyout Proposal Post-Initial Contact
Daniel Levy managed Tottenham's move to the state-of-the-art venue in the year 2019.
American tech entrepreneur Earick has dismissed launching a buyout proposal for Tottenham.
The club had earlier “unequivocally rejected” an unofficial approach from a investment group led by Brooklyn Earick last period and maintained the team was off the market.
However UK takeover and merger rules dictated that, after an initial approach rejected, the group were obligated to present a formal offer by 24 October or declare they would not proceed.
Official word of the determination was made in a release issued by Spurs to the stock exchange, indicating the team is “ceased to be in an offer period.”
Earick shared an snapshot of the statement on online platforms, stating: “It's been a honor discussing with Tottenham Hotspur and the Lewis family's representatives over the past few weeks.
“I have great respect for the organization, its leadership, and its supporters, and wish them only the best.”
Spurs' leadership acknowledged the syndicate for its “constructive approach” in talks and for “honoring the firm stance” of the owners that the team is not for sale.
Brooklyn Earick is a ex-disc jockey who also worked in aerospace studies for NASA before founding his technology firm, which concentrates on tech, entertainment, sports and entertainment.
His approach was the third expression of interest turned down by the team's directors since the abrupt resignation of executive chairman Levy in last month.
Earlier in September, the club declined approaches from previous club stakeholder Amanda Staveley's the investment firm and a group led by Kennedy and the co-investor through Firehawk Holdings.
Daniel Levy and his family own about a significant stake of the parent company – which has an nearly 87 percent interest in the club.
Levy was the Premier League's longest-serving chairman and is estimated to have earned over £50 million during his long tenure in the capacity.
But he was also the subject of ongoing dissent by Tottenham supporters, particularly last season as domestic league results proved disappointing.
The north London club won their major honor in 17 years when they beat Manchester United in May's Europa League final.
Related Topics
- English top division
- Spurs
- Soccer
