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Innovative business leader Earick has dismissed launching a buyout proposal for the North London club.

Spurs had before “clearly turned down” an unofficial approach from a consortium headed by Earick last period and maintained the organization was not for sale.

However the nation's corporate governance laws required that, after an initial approach turned down, the interested parties were obligated to present a formal offer by the October deadline or announce they would not proceed.

Confirmation of the choice was issued in a release made by the club to the financial markets, indicating the organization is “not in an takeover phase.”

Earick shared an picture of the release on social media, stating: “It's been a privilege discussing with Spurs and the Lewis family's delegates over the past few months.

“I hold great respect for the club, its leadership, and its followers, and wish them only the best.”

Tottenham's directors expressed gratitude to the group for its “positive engagement” in negotiations and for “honoring the firm stance” of the shareholders that the organization is off the market.

Earick is a ex-disc jockey who also worked in aerospace studies for NASA before founding the innovation company, which focuses on technology, entertainment, athletics and leisure.

His approach was the third expression of interest rejected by the organization's leadership since the unexpected exit of executive chairman Levy in the fall.

In early fall, the organization turned down approaches from ex-Newcastle investor Amanda Staveley's PCP International Finance Limited and a syndicate headed by Roger Kennedy and Wing-Fai Ng through the holding company.

Daniel Levy and his relatives control about 30% of Enic Sports & Developments Holdings Ltd – which has an almost 87% shareholding in Spurs.

Levy was the Premier League's longest-serving chairman and is believed to have made over £50 million during his almost quarter of a century in the capacity.

Yet he was also the target of frequent demonstrations by Spurs fans, particularly last season as domestic league results proved disappointing.

Spurs won their first trophy in seventeen years when they defeated United in the May continental decider.

Connected Themes

• Premier League
• The North London club
• Football