The American entrepreneur Rejects Spurs Acquisition Offer Following Expression of Interest
Daniel Levy directed Spurs' transition to the club's new home in the year 2019.
US technology mogul Brooklyn Earick has rejected submitting an official acquisition offer for the North London club.
Tottenham had previously “firmly declined” an informal expression of interest from a syndicate led by the American last month and stated the organization was off the market.
But UK takeover and merger rules dictated that, having had an initial approach turned down, the group needed to make an offer by late October or state they would not proceed.
Official word of the determination was made in a release made by the club to the financial markets, indicating the organization is “not in an takeover phase.”
He posted an snapshot of the announcement on social media, remarking: “It's been a pleasure interacting with Tottenham Hotspur and the Lewis family's agents over the past few weeks.
“I hold great respect for the team, its leadership, and its supporters, and wish them only the best.”
The club's board expressed gratitude to the consortium for its “constructive approach” in discussions and for “respecting the clear position” of the shareholders that the team is unavailable.
The entrepreneur is a ex-disc jockey who also worked in spacecraft research for Nasa before establishing the innovation company, which concentrates on technology, entertainment, sports and leisure.
The informal offer was the latest inquiry rejected by the organization's leadership since the unexpected exit of top executive Levy in last month.
On 8 September, the club turned down approaches from ex-Newcastle investor the financier's the investment firm and a syndicate spearheaded by Kennedy and the co-investor through Firehawk Holdings.
The former chairman and his family control about a significant stake of the parent company – which has an majority interest in the club.
Levy was the Premier League's longest-serving chairman and is believed to have earned more than £50m during his nearly 25 years in the capacity.
But he was also the focus of regular protests by the club's followers, notably last season as home competition outcomes turned out unsatisfactory.
The north London club won their major honor in nearly two decades when they overcame the Red Devils in May's European final.
Associated Subjects
- English top division
- The North London club
- The beautiful game
