Brooklyn Earick Rejects Spurs Buyout Proposal Post-Initial Contact
The long-serving executive directed Tottenham's transition to the Tottenham Hotspur Stadium in the year 2019.
Innovative business leader Earick has rejected making a formal takeover bid for Spurs.
The club had previously âunequivocally rejectedâ an unofficial approach from a syndicate headed by Brooklyn Earick last month and insisted the team was off the market.
But UK takeover and merger rules stipulated that, after an initial approach rejected, Earick's consortium had to submit a bid by 24 October or state they would refrain.
Verification of the choice was provided in a announcement issued by Spurs to the stock exchange, indicating the club is ânot in an offer period.â
He shared an snapshot of the announcement on digital channels, remarking: âIt's been a pleasure discussing with Spurs and the owners' delegates over the past few months.
âI maintain deep admiration for the club, its management, and its followers, and desire only the best.â
Spurs' leadership thanked the consortium for its âpositive engagementâ in talks and for âacknowledging the clear positionâ of the proprietors that the club is not for sale.
The entrepreneur is a one-time music presenter who also worked in aerospace studies for Nasa before founding his technology firm, which focuses on technology, entertainment, sports and entertainment.
The informal offer was the third approach turned down by the team's directors since the sudden departure of top executive Daniel Levy in last month.
On 8 September, the club turned down proposals from ex-Newcastle investor Staveley's the investment firm and a consortium headed by Kennedy and Ng through Firehawk Holdings Limited.
Levy and his household control about 30% of the parent company â which has an majority shareholding in the club.
He was the Premier League's longest-serving chairman and is reported to have made in excess of fifty million pounds during his long tenure in the capacity.
Yet he was also the target of frequent demonstrations by Tottenham supporters, particularly last season as Premier League performances turned out below expectations.
Tottenham secured their major honor in 17 years when they overcame the Red Devils in May's continental decider.
Associated Subjects
- The Premier League
- The North London club
- Football
