"Tottenham "unequivocally rejected" an informal expression of interest from a consortium led by Earick last month and insisted the club was not for sale. But UK takeover and merger rules dictated that, having had an expression of interest rejected, Earick's consortium needed to make an offer by 24 October or announce they would not do so. Confirmation of the decision was made in a statement made by Tottenham to the London Stock Exchange, stating the club is "no longer in an offer period"."
"Earick posted an image of the statement on social media, adding: "It's been a privilege engaging with Tottenham Hotspur and the Lewis family's representatives over the past few months. "I have great respect for the club, its leadership, and its supporters, and wish them nothing but success." The club's board thanked the consortium for its "constructive approach" in negotiations and for "respecting the clear position" of the owners that the club is not for sale."
Brooklyn Earick's consortium ruled out making a formal takeover bid for Tottenham after an informal expression of interest was rejected. UK takeover and merger rules required either a formal offer by 24 October or an announcement declining to proceed. Tottenham notified the London Stock Exchange that the club is "no longer in an offer period." Earick posted the statement on social media, expressing respect for the club, its leadership and supporters, and wishing them success. The club's board thanked the consortium for a constructive approach and for respecting the owners' clear position that the club is not for sale. The approach was the third rejected since executive chairman Daniel Levy's departure; Levy and his family own about 30% of Enic, which holds almost 87% of the club.
Read at www.bbc.com
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