🔗 Share this article The American entrepreneur Rejects Spurs Buyout Proposal Post-Initial Contact Daniel Levy directed Tottenham's relocation to the club's new home in the year 2019. Innovative business leader Earick has dismissed launching a buyout proposal for Spurs. The club had previously “clearly turned down” an informal expression of interest from a investment group spearheaded by Earick last month and stated the team was not for sale. However the nation's corporate governance laws required that, after an initial approach rejected, the group were obligated to present a formal offer by 24 October or announce they would not do so. Official word of the decision was made in a statement made by Spurs to the London Stock Exchange, stating the team is “not in an takeover phase.” Earick shared an image of the announcement on social media, stating: “It's been a privilege engaging with Spurs and the owners' agents over the past few months. “I hold great respect for the organization, its management, and its followers, and desire continued achievements.” Spurs' leadership acknowledged the consortium for its “cooperative stance” in negotiations and for “honoring the clear position” of the shareholders that the organization is not for sale. Earick is a former DJ who also served in space technology for Nasa before creating Redacted RnD, which focuses on technology, media, sport and leisure. The informal offer was the latest approach turned down by the organization's leadership since the unexpected exit of long-serving chairman Levy in the fall. On 8 September, the organization rejected approaches from previous club stakeholder Amanda Staveley's PCP International and a group headed by Dr Roger Kennedy and the co-investor through Firehawk Holdings Limited. Levy and his household own about 30% of Enic Sports & Developments Holdings Ltd – which has an almost 87% stake in the club. The executive was the English top flight's longest-serving chairman and is believed to have received in excess of fifty million pounds during his nearly 25 years in the role. However he was also the target of regular protests by Tottenham supporters, particularly last term as Premier League performances proved disappointing. Spurs won their major honor in seventeen years when they overcame United in last season's continental decider. Connected Themes Premier League The North London club Football