The American entrepreneur Rules Out Tottenham Hotspur Acquisition Offer Following Expression of Interest

US technology mogul Earick has ruled out making a formal takeover bid for the North London club.

Tottenham had before “clearly turned down” an unofficial approach from a syndicate led by Earick last period and maintained the club was not for sale.

Yet British acquisition regulations stipulated that, after an initial approach turned down, Earick's consortium were obligated to present a formal offer by the October deadline or state they would refrain.

Official word of the determination was issued in a announcement issued by Spurs to the financial markets, indicating the team is “no longer in an acquisition window.”

Earick published an image of the announcement on online platforms, stating: “It was a privilege interacting with the club and the Lewis family's representatives over the past few weeks.

“I hold great respect for the club, its management, and its supporters, and desire only the best.”

The club's board expressed gratitude to the syndicate for its “positive engagement” in negotiations and for “respecting the firm stance” of the owners that the organization is off the market.

The entrepreneur is a ex-disc jockey who also was employed in space technology for Nasa before creating the innovation company, which specializes in technology, communications, athletics and entertainment.

The informal offer was the latest approach rejected by the team's directors since the sudden departure of executive chairman the former chairman in last month.

In early fall, the organization turned down proposals from previous club stakeholder Staveley's PCP International and a syndicate spearheaded by Kennedy and Ng through the holding company.

Levy and his family own about 30% of Enic Sports & Developments Holdings Ltd – which has an nearly 87 percent interest in the club.

He was the Premier League's most enduring chair and is believed to have made over £50 million during his almost quarter of a century in the role.

Yet he was also the target of frequent demonstrations by Spurs fans, particularly last campaign as domestic league results turned out disappointing.

Spurs claimed their major honor in nearly two decades when they beat United in the May continental decider.

Connected Themes

• English top division
• Tottenham Hotspur
• Soccer