The American entrepreneur Rejects Spurs Acquisition Offer Post-Initial Contact
Daniel Levy managed Spurs' move to the Tottenham Hotspur Stadium in the year 2019.
Innovative business leader the entrepreneur has ruled out submitting an official acquisition offer for the North London club.
Tottenham had previously “clearly turned down” an unofficial approach from a syndicate spearheaded by Brooklyn Earick last month and insisted the organization was off the market.
But UK takeover and merger rules stipulated that, following an informal proposal declined, the interested parties needed to make an offer by the October deadline or announce they would not do so.
Official word of the determination was made in a announcement issued by the club to the financial markets, indicating the team is “ceased to be in an offer period.”
Earick published an image of the statement on online platforms, remarking: “I've had a honor interacting with Spurs and the owners' delegates over the past few weeks.
“I maintain deep admiration for the club, its management, and its supporters, and hope for nothing but success.”
Tottenham's directors acknowledged the group for its “constructive approach” in discussions and for “respecting the firm stance” of the proprietors that the team is unavailable.
The entrepreneur is a one-time music presenter who also was employed in aerospace studies for NASA before creating his technology firm, which specializes in tech, communications, sports and entertainment.
The informal offer was the latest inquiry declined by the organization's leadership since the unexpected exit of long-serving chairman the former chairman in last month.
Earlier in September, the organization turned down approaches from previous club stakeholder Amanda Staveley's the investment firm and a syndicate spearheaded by Roger Kennedy and Ng through Firehawk Holdings.
The former chairman and his household hold about 30% of Enic Holdings – which has an almost 87% shareholding in Tottenham.
Levy was the the league's top-tenured leader and is reported to have made in excess of fifty million pounds during his nearly 25 years in the role.
But he was also the focus of ongoing dissent by Tottenham supporters, notably last season as Premier League performances turned out below expectations.
The north London club won their first trophy in 17 years when they overcame Manchester United in the May European final.
Connected Themes
- English top division
- Spurs
- The beautiful game
