The American entrepreneur Dismisses Tottenham Hotspur Buyout Proposal Following Expression of Interest
Daniel Levy oversaw Tottenham's transition to the state-of-the-art venue in the year 2019.
US technology mogul Earick has ruled out launching a buyout proposal for Tottenham.
Tottenham had earlier “clearly turned down” an preliminary inquiry from a syndicate led by Brooklyn Earick last month and insisted the team was unavailable for purchase.
Yet the nation's corporate governance laws dictated that, after an informal proposal turned down, Earick's consortium needed to make an offer by the October deadline or announce they would refrain.
Confirmation of the decision was issued in a release released by the club to the stock exchange, indicating the organization is “not in an offer period.”
The entrepreneur posted an picture of the announcement on online platforms, remarking: “It's been a pleasure interacting with Spurs and the Lewis family's delegates over the past few weeks.
“I maintain high regard for the team, its executives, and its fans, and hope for only the best.”
Tottenham's directors thanked the group for its “positive engagement” in talks and for “acknowledging the clear position” of the shareholders that the organization is unavailable.
The entrepreneur is a ex-disc jockey who also served in aerospace studies for the space agency before establishing the innovation company, which concentrates on technology, media, athletics and entertainment.
The informal offer was the latest approach rejected by the organization's leadership since the unexpected exit of top executive Levy in last month.
On 8 September, the team declined approaches from former Newcastle United shareholder the financier's the investment firm and a group headed by Dr Roger Kennedy and the co-investor through Firehawk Holdings Limited.
Levy and his relatives control about 30% of Enic Sports & Developments Holdings Ltd – which has an almost 87% interest in Tottenham.
Levy was the Premier League's top-tenured leader and is reported to have earned more than £50m during his nearly 25 years in the position.
However he was also the target of frequent demonstrations by Tottenham supporters, notably last season as Premier League performances were below expectations.
Tottenham won their first trophy in nearly two decades when they defeated Manchester United in the May continental decider.
Associated Subjects
- English top division
- Spurs
- Football
