Brooklyn Earick Dismisses Spurs Buyout Proposal Following Expression of Interest
The long-serving executive managed Spurs' transition to the state-of-the-art venue in the year 2019.
US technology mogul Earick has rejected launching a buyout proposal for the North London club.
Spurs had earlier “clearly turned down” an informal expression of interest from a consortium headed by Brooklyn Earick last month and insisted the organization was unavailable for purchase.
But the nation's corporate governance laws stipulated that, following an initial approach rejected, the group needed to make an offer by the October deadline or state they would not proceed.
Official word of the decision was issued in a announcement made by Spurs to the London Stock Exchange, confirming the organization is “ceased to be in an offer period.”
Earick shared an image of the statement on digital channels, remarking: “It's been a honor interacting with Tottenham Hotspur and the owners' delegates over the past few months.
“I maintain great respect for the team, its leadership, and its fans, and desire only the best.”
Spurs' leadership expressed gratitude to the syndicate for its “positive engagement” in negotiations and for “acknowledging the firm stance” of the proprietors that the team is not for sale.
Earick is a former DJ who also served in space technology for Nasa before establishing Redacted RnD, which specializes in tech, media, sport and leisure.
The informal offer was the third expression of interest turned down by the club's board since the abrupt resignation of top executive Daniel Levy in the fall.
Earlier in September, the organization declined approaches from ex-Newcastle investor Staveley's PCP International Finance Limited and a consortium headed by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
Daniel Levy and his household control about 30% of Enic Sports & Developments Holdings Ltd – which has an majority stake in Tottenham.
Levy was the Premier League's most enduring chair and is reported to have earned over £50 million during his almost quarter of a century in the capacity.
Yet he was also the target of frequent demonstrations by Tottenham supporters, notably last campaign as Premier League performances proved below expectations.
Spurs won their major honor in 17 years when they beat United in last season's Europa League final.
Related Topics
- English top division
- Tottenham Hotspur
- Football
