Earick Rules Out Spurs Acquisition Offer After Approach
Daniel Levy directed Spurs' relocation to the Tottenham Hotspur Stadium in 2019.
Innovative business leader the entrepreneur has ruled out launching a buyout proposal for the North London club.
The club had previously “clearly turned down” an informal expression of interest from a consortium spearheaded by Earick last month and stated the team was unavailable for purchase.
Yet UK takeover and merger rules required that, having had an expression of interest declined, the interested parties needed to make an offer by late October or announce they would not do so.
Confirmation of the choice was made in a release released by the club to the stock exchange, stating the club is “not in an offer period.”
The entrepreneur published an picture of the announcement on digital channels, stating: “It's been a honor interacting with Spurs and the Lewis family's delegates over the past few weeks.
“I hold deep admiration for the club, its leadership, and its supporters, and hope for only the best.”
Spurs' leadership expressed gratitude to the group for its “constructive approach” in negotiations and for “honoring the definitive view” of the shareholders that the club is not for sale.
The entrepreneur is a one-time music presenter who also worked in space technology for NASA before establishing his technology firm, which specializes in tech, media, sports and recreation.
His approach was the third approach declined by the club's board since the unexpected exit of executive chairman Daniel Levy in last month.
On 8 September, the club rejected approaches from ex-Newcastle investor Staveley's PCP International and a syndicate led by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
Daniel Levy and his family control about a significant stake of Enic Holdings – which has an almost 87% stake in Spurs.
The executive was the the league's top-tenured leader and is reported to have made in excess of fifty million pounds during his long tenure in the position.
But he was also the focus of regular protests by Tottenham supporters, notably last campaign as home competition outcomes were disappointing.
Spurs secured their initial silverware in seventeen years when they beat Manchester United in May's continental decider.
Connected Themes
- The Premier League
- Tottenham Hotspur
- The beautiful game
