The American entrepreneur Dismisses Spurs Takeover Bid After Approach
Daniel Levy directed Tottenham's relocation to the state-of-the-art venue in the year 2019.
American tech entrepreneur the entrepreneur has rejected making a formal takeover bid for the North London club.
Tottenham had before “firmly declined” an informal expression of interest from a investment group led by Earick last month and insisted the club was unavailable for purchase.
Yet British acquisition regulations stipulated that, after an initial approach declined, the group needed to make an offer by 24 October or declare they would not do so.
Confirmation of the decision was made in a announcement released by the club to the stock exchange, confirming the team is “ceased to be in an takeover phase.”
Earick posted an picture of the announcement on online platforms, stating: “I've had a pleasure interacting with the club and the owners' agents over the past few weeks.
“I maintain great respect for the team, its leadership, and its fans, and hope for continued achievements.”
The club's board acknowledged the consortium for its “constructive approach” in talks and for “honoring the firm stance” of the owners that the team is off the market.
The entrepreneur is a one-time music presenter who also worked in space technology for the space agency before creating the innovation company, which specializes in technology, entertainment, sports and recreation.
His approach was the third expression of interest rejected by the club's board since the sudden departure of executive chairman Levy in the fall.
In early fall, the team turned down offers from previous club stakeholder Staveley's PCP International and a syndicate led by Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
The former chairman and his family control about thirty percent of the parent company – which has an almost 87% stake in Spurs.
He was the the league's most enduring chair and is estimated to have made in excess of fifty million pounds during his almost quarter of a century in the role.
However he was also the subject of regular protests by Tottenham supporters, especially last campaign as home competition outcomes were disappointing.
Tottenham claimed their initial silverware in nearly two decades when they defeated United in May's continental decider.
Connected Themes
- The Premier League
- The North London club
- Football
