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US technology mogul Earick has dismissed submitting an official acquisition offer for Tottenham.

The club had earlier “clearly turned down” an unofficial approach from a investment group headed by Earick last month and stated the club was unavailable for purchase.

But UK takeover and merger rules stipulated that, after an informal proposal turned down, Earick's consortium were obligated to present a formal offer by 24 October or announce they would not proceed.

Confirmation of the decision was issued in a statement released by the club to the financial markets, stating the organization is “ceased to be in an takeover phase.”

He shared an image of the statement on online platforms, remarking: “It was a pleasure interacting with the club and the Lewis family's representatives over the past few months.

“I maintain great respect for the club, its executives, and its supporters, and hope for continued achievements.”

Tottenham's directors expressed gratitude to the consortium for its “positive engagement” in discussions and for “honoring the firm stance” of the proprietors that the organization is not for sale.

Brooklyn Earick is a ex-disc jockey who also was employed in aerospace studies for Nasa before establishing Redacted RnD, which focuses on tech, entertainment, athletics and leisure.

His approach was the latest inquiry declined by the team's directors since the unexpected exit of executive chairman Daniel Levy in last month.

In early fall, the team declined offers from previous club stakeholder the financier's PCP International and a consortium led by Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.

Levy and his family own about a significant stake of the parent company – which has an nearly 87 percent shareholding in the club.

Levy was the English top flight's top-tenured leader and is reported to have received more than £50m during his nearly 25 years in the role.

But he was also the focus of regular protests by the club's followers, particularly last season as Premier League performances turned out disappointing.

Spurs secured their major honor in 17 years when they defeated the Red Devils in the May Europa League final.

Related Topics

• Premier League
• Spurs
• Soccer