Brooklyn Earick Dismisses Spurs Acquisition Offer Following Expression of Interest
The long-serving executive managed Tottenham's transition to the club's new home in 2019.
American tech entrepreneur Brooklyn Earick has ruled out making a formal takeover bid for Spurs.
Spurs had before “clearly turned down” an preliminary inquiry from a consortium spearheaded by the American last month and insisted the organization was not for sale.
Yet the nation's corporate governance laws dictated that, after an expression of interest rejected, the group needed to make an offer by the October deadline or declare they would refrain.
Confirmation of the choice was provided in a announcement made by Tottenham to the financial markets, stating the team is “not in an acquisition window.”
He posted an image of the statement on social media, remarking: “I've had a privilege interacting with Spurs and the owners' representatives over the past few months.
“I hold great respect for the organization, its executives, and its followers, and wish them nothing but success.”
The club's board acknowledged the consortium for its “positive engagement” in discussions and for “respecting the firm stance” of the shareholders that the organization is unavailable.
The entrepreneur is a ex-disc jockey who also was employed in spacecraft research for the space agency before establishing the innovation company, which concentrates on tech, communications, sport and recreation.
Earick's proposal was the third expression of interest declined by the club's board since the unexpected exit of top executive Levy in last month.
In early fall, the club declined proposals from ex-Newcastle investor the financier's the investment firm and a group spearheaded by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
Levy and his relatives control about 30% of the parent company – which has an nearly 87 percent shareholding in the club.
He was the English top flight's longest-serving chairman and is believed to have made over £50 million during his nearly 25 years in the capacity.
However he was also the focus of ongoing dissent by Tottenham supporters, notably last term as Premier League performances proved below expectations.
Spurs secured their major honor in seventeen years when they defeated the Red Devils in last season's European final.
Related Topics
- The Premier League
- The North London club
- Football
