The American entrepreneur Rules Out Tottenham Hotspur Acquisition Offer After Approach
The long-serving executive oversaw Tottenham's transition to the state-of-the-art venue in the year 2019.
US technology mogul the entrepreneur has rejected submitting an official acquisition offer for Tottenham.
Tottenham had earlier “firmly declined” an unofficial approach from a syndicate spearheaded by Earick last month and insisted the club was unavailable for purchase.
However the nation's corporate governance laws required that, having had an expression of interest turned down, the group were obligated to present a formal offer by 24 October or announce they would refrain.
Verification of the choice was made in a release released by Spurs to the stock exchange, stating the club is “no longer in an offer period.”
The entrepreneur posted an image of the release on online platforms, adding: “I've had a pleasure interacting with Spurs and the owners' agents over the past few weeks.
“I hold great respect for the club, its executives, and its followers, and wish them continued achievements.”
Spurs' leadership acknowledged the consortium for its “positive engagement” in negotiations and for “acknowledging the clear position” of the proprietors that the club is not for sale.
The entrepreneur is a former DJ who also served in spacecraft research for NASA before establishing Redacted RnD, which concentrates on tech, communications, athletics and recreation.
His approach was the third inquiry turned down by the team's directors since the unexpected exit of executive chairman the former chairman in last month.
On 8 September, the club rejected offers from former Newcastle United shareholder Staveley's the investment firm and a consortium headed by Kennedy and Wing-Fai Ng through Firehawk Holdings.
Levy and his household own about a significant stake of Enic Holdings – which has an majority stake in Spurs.
He was the English top flight's most enduring chair and is estimated to have made more than £50m during his nearly 25 years in the capacity.
However he was also the focus of frequent demonstrations by Tottenham supporters, particularly last term as Premier League performances were unsatisfactory.
Spurs won their first trophy in nearly two decades when they beat United in last season's European final.
Associated Subjects
- Premier League
- Spurs
- The beautiful game
