🔗 Share this article

US technology mogul Earick has ruled out launching a buyout proposal for the North London club.

Tottenham had before “firmly declined” an informal expression of interest from a consortium led by Earick last month and insisted the team was not for sale.

Yet UK takeover and merger rules required that, having had an informal proposal turned down, Earick's consortium were obligated to present a formal offer by late October or announce they would refrain.

Official word of the determination was provided in a release released by Spurs to the London Stock Exchange, confirming the organization is “ceased to be in an acquisition window.”

He published an snapshot of the statement on digital channels, adding: “It was a honor discussing with Tottenham Hotspur and the Lewis family's delegates over the past few months.

“I have great respect for the team, its leadership, and its fans, and hope for continued achievements.”

Tottenham's directors expressed gratitude to the syndicate for its “constructive approach” in discussions and for “respecting the clear position” of the shareholders that the club is unavailable.

The entrepreneur is a one-time music presenter who also served in spacecraft research for NASA before creating Redacted RnD, which focuses on tech, communications, athletics and leisure.

His approach was the third approach rejected by the club's board since the abrupt resignation of executive chairman Daniel Levy in the fall.

Earlier in September, the team declined offers from former Newcastle United shareholder Amanda Staveley's the investment firm and a group headed by Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.

Daniel Levy and his household own about 30% of Enic Sports & Developments Holdings Ltd – which has an nearly 87 percent stake in Tottenham.

Levy was the the league's top-tenured leader and is believed to have received more than £50m during his long tenure in the capacity.

But he was also the focus of regular protests by Tottenham supporters, especially last term as domestic league results were unsatisfactory.

Tottenham secured their initial silverware in 17 years when they defeated United in last season's European final.

Related Topics

• Premier League
• Spurs
• The beautiful game