Earick Rejects Spurs Acquisition Offer Following Expression of Interest
The long-serving executive managed Spurs' transition to the club's new home in 2019.
US technology mogul the entrepreneur has ruled out making a formal takeover bid for Tottenham.
The club had earlier “unequivocally rejected” an preliminary inquiry from a consortium headed by the American last month and stated the club was not for sale.
Yet UK takeover and merger rules dictated that, having had an informal proposal declined, the group needed to make an offer by 24 October or announce they would not do so.
Confirmation of the decision was provided in a statement issued by Spurs to the London Stock Exchange, stating the club is “not in an acquisition window.”
Earick published an image of the release on online platforms, remarking: “It was a honor discussing with the club and the Lewis family's delegates over the past few weeks.
“I maintain deep admiration for the club, its management, and its supporters, and wish them nothing but success.”
Spurs' leadership thanked the consortium for its “cooperative stance” in discussions and for “honoring the clear position” of the owners that the team is unavailable.
Earick is a one-time music presenter who also was employed in aerospace studies for Nasa before founding Redacted RnD, which concentrates on innovation, communications, sports and leisure.
The informal offer was the third inquiry rejected by the team's directors since the unexpected exit of long-serving chairman Levy in September.
Earlier in September, the organization declined offers from previous club stakeholder the financier's PCP International and a consortium spearheaded by Kennedy and the co-investor through Firehawk Holdings.
Levy and his family hold about thirty percent of Enic Holdings – which has an almost 87% shareholding in Spurs.
The executive was the the league's most enduring chair and is believed to have earned in excess of fifty million pounds during his nearly 25 years in the role.
However he was also the subject of ongoing dissent by the club's followers, notably last campaign as home competition outcomes proved disappointing.
The north London club claimed their first trophy in nearly two decades when they beat Manchester United in last season's European final.
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- Tottenham Hotspur
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