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US technology mogul Brooklyn Earick has rejected making a formal takeover bid for the North London club.

Tottenham had before “clearly turned down” an preliminary inquiry from a syndicate led by Earick last period and insisted the organization was off the market.

But British acquisition regulations dictated that, following an expression of interest rejected, the group were obligated to present a formal offer by late October or declare they would not proceed.

Confirmation of the choice was made in a announcement made by Spurs to the stock exchange, confirming the team is “no longer in an offer period.”

The entrepreneur posted an picture of the announcement on social media, remarking: “I've had a pleasure discussing with Spurs and the owners' agents over the past few months.

“I maintain deep admiration for the team, its leadership, and its followers, and wish them nothing but success.”

Tottenham's directors expressed gratitude to the consortium for its “cooperative stance” in talks and for “honoring the definitive view” of the shareholders that the organization is not for sale.

Brooklyn Earick is a former DJ who also worked in space technology for the space agency before founding the innovation company, which focuses on innovation, media, athletics and entertainment.

Earick's proposal was the third expression of interest rejected by the club's board since the unexpected exit of executive chairman Daniel Levy in September.

Earlier in September, the organization declined approaches from previous club stakeholder the financier's PCP International Finance Limited and a group led by Roger Kennedy and Wing-Fai Ng through the holding company.

Daniel Levy and his family own about thirty percent of the parent company – which has an majority stake in Spurs.

Levy was the English top flight's most enduring chair and is estimated to have received in excess of fifty million pounds during his long tenure in the position.

Yet he was also the focus of regular protests by Spurs fans, particularly last campaign as Premier League performances proved below expectations.

Spurs won their initial silverware in nearly two decades when they overcame Manchester United in last season's continental decider.

Connected Themes

• The Premier League
• Spurs
• Soccer