Brooklyn Earick Dismisses Spurs Buyout Proposal After Approach
The former chairman directed Spurs' relocation to the Tottenham Hotspur Stadium in 2019.
US technology mogul Brooklyn Earick has ruled out launching a buyout proposal for Spurs.
Spurs had previously “unequivocally rejected” an informal expression of interest from a investment group headed by Earick last month and maintained the team was not for sale.
However British acquisition regulations stipulated that, after an informal proposal declined, the interested parties needed to make an offer by the October deadline or announce they would refrain.
Confirmation of the choice was made in a announcement released by Spurs to the financial markets, indicating the organization is “no longer in an acquisition window.”
Earick posted an picture of the release on digital channels, adding: “I've had a honor engaging with Tottenham Hotspur and the Lewis family's agents over the past few months.
“I maintain deep admiration for the club, its management, and its supporters, and hope for only the best.”
Tottenham's directors thanked the syndicate for its “positive engagement” in negotiations and for “acknowledging the firm stance” of the shareholders that the team is off the market.
Brooklyn Earick is a one-time music presenter who also was employed in spacecraft research for NASA before establishing the innovation company, which concentrates on innovation, communications, athletics and leisure.
His approach was the latest expression of interest rejected by the organization's leadership since the abrupt resignation of executive chairman Daniel Levy in September.
In early fall, the club rejected approaches from ex-Newcastle investor Amanda Staveley's PCP International Finance Limited and a syndicate spearheaded by Kennedy and the co-investor through Firehawk Holdings Limited.
Daniel Levy and his family control about 30% of Enic Sports & Developments Holdings Ltd – which has an almost 87% stake in Tottenham.
Levy was the English top flight's longest-serving chairman and is believed to have made over £50 million during his almost quarter of a century in the capacity.
However he was also the focus of regular protests by Tottenham supporters, especially last campaign as Premier League performances turned out below expectations.
Spurs won their first trophy in 17 years when they beat the Red Devils in May's continental decider.
Associated Subjects
- English top division
- Spurs
- Football
