The American entrepreneur Rules Out Spurs Buyout Proposal After Approach
The former chairman directed Spurs' move to the Tottenham Hotspur Stadium in the year 2019.
Innovative business leader Brooklyn Earick has ruled out launching a buyout proposal for Tottenham.
Spurs had before “unequivocally rejected” an unofficial approach from a syndicate spearheaded by Brooklyn Earick last period and insisted the club was unavailable for purchase.
However the nation's corporate governance laws stipulated that, after an initial approach declined, the interested parties were obligated to present a formal offer by late October or declare they would not proceed.
Verification of the choice was made in a announcement released by Tottenham to the London Stock Exchange, indicating the organization is “no longer in an acquisition window.”
The entrepreneur posted an picture of the statement on online platforms, stating: “It was a pleasure discussing with Spurs and the owners' delegates over the past few months.
“I maintain high regard for the team, its leadership, and its supporters, and desire only the best.”
Tottenham's directors expressed gratitude to the group for its “constructive approach” in negotiations and for “acknowledging the clear position” of the owners that the team is not for sale.
The entrepreneur is a ex-disc jockey who also was employed in spacecraft research for NASA before creating the innovation company, which focuses on technology, communications, sports and recreation.
The informal offer was the latest expression of interest rejected by the club's board since the sudden departure of top executive Daniel Levy in last month.
In early fall, the club rejected approaches from former Newcastle United shareholder Staveley's the investment firm and a syndicate spearheaded by Kennedy and Ng through the holding company.
The former chairman and his relatives control about 30% of Enic Holdings – which has an nearly 87 percent stake in Tottenham.
He was the the league's top-tenured leader and is estimated to have made over £50 million during his almost quarter of a century in the role.
But he was also the subject of regular protests by Tottenham supporters, particularly last term as Premier League performances were unsatisfactory.
The north London club secured their initial silverware in nearly two decades when they overcame United in May's Europa League final.
Related Topics
- English top division
- Tottenham Hotspur
- The beautiful game
