Brooklyn Earick Rules Out Tottenham Hotspur Acquisition Offer Following Expression of Interest
The long-serving executive oversaw Tottenham's transition to the club's new home in 2019.
US technology mogul Earick has dismissed making a formal takeover bid for the North London club.
Spurs had earlier “unequivocally rejected” an preliminary inquiry from a investment group led by Brooklyn Earick last month and stated the team was unavailable for purchase.
But UK takeover and merger rules dictated that, having had an initial approach declined, Earick's consortium had to submit a bid by late October or state they would not proceed.
Official word of the decision was provided in a statement issued by Spurs to the stock exchange, stating the club is “ceased to be in an takeover phase.”
He published an image of the release on digital channels, stating: “I've had a pleasure interacting with the club and the Lewis family's agents over the past few months.
“I have high regard for the organization, its leadership, and its supporters, and hope for continued achievements.”
The club's board expressed gratitude to the group for its “constructive approach” in negotiations and for “honoring the firm stance” of the owners that the club is not for sale.
The entrepreneur is a one-time music presenter who also was employed in spacecraft research for Nasa before creating the innovation company, which focuses on innovation, communications, athletics and leisure.
His approach was the third expression of interest rejected by the club's board since the unexpected exit of executive chairman Levy in the fall.
On 8 September, the team rejected offers from previous club stakeholder Amanda Staveley's PCP International Finance Limited and a group headed by Dr Roger Kennedy and Ng through Firehawk Holdings Limited.
The former chairman and his family hold about 30% of Enic Sports & Developments Holdings Ltd – which has an nearly 87 percent shareholding in Tottenham.
He was the the league's longest-serving chairman and is reported to have earned more than £50m during his nearly 25 years in the position.
Yet he was also the target of frequent demonstrations by Tottenham supporters, notably last term as Premier League performances were unsatisfactory.
The north London club won their first trophy in nearly two decades when they defeated the Red Devils in last season's European final.
Related Topics
- English top division
- Tottenham Hotspur
- The beautiful game
