Earick Rules Out Tottenham Hotspur Takeover Bid Post-Initial Contact
The long-serving executive directed Tottenham's move to the club's new home in the year 2019.
US technology mogul the entrepreneur has ruled out submitting an official acquisition offer for Spurs.
The club had earlier “unequivocally rejected” an informal expression of interest from a consortium spearheaded by the American last month and maintained the team was unavailable for purchase.
Yet the nation's corporate governance laws dictated that, following an initial approach rejected, Earick's consortium were obligated to present a formal offer by late October or declare they would refrain.
Verification of the choice was provided in a statement made by Spurs to the financial markets, stating the organization is “not in an acquisition window.”
He posted an picture of the release on social media, stating: “I've had a honor discussing with Tottenham Hotspur and the owners' delegates over the past few weeks.
“I have high regard for the team, its management, and its followers, and desire only the best.”
Tottenham's directors expressed gratitude to the consortium for its “cooperative stance” in talks and for “honoring the firm stance” of the shareholders that the club is not for sale.
Earick is a ex-disc jockey who also worked in aerospace studies for the space agency before founding Redacted RnD, which focuses on tech, communications, sport and leisure.
His approach was the latest inquiry rejected by the team's directors since the unexpected exit of long-serving chairman the former chairman in last month.
On 8 September, the club rejected offers from previous club stakeholder Amanda Staveley's PCP International Finance Limited and a group led by Roger Kennedy and the co-investor through Firehawk Holdings Limited.
The former chairman and his household hold about thirty percent of Enic Holdings – which has an nearly 87 percent interest in the club.
The executive was the the league's longest-serving chairman and is estimated to have received in excess of fifty million pounds during his almost quarter of a century in the position.
But he was also the subject of ongoing dissent by Spurs fans, notably last season as domestic league results turned out unsatisfactory.
The north London club claimed their first trophy in seventeen years when they overcame Manchester United in last season's European final.
Associated Subjects
- The Premier League
- Tottenham Hotspur
- Soccer
