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American tech entrepreneur the entrepreneur has ruled out making a formal takeover bid for Tottenham.

Spurs had before “clearly turned down” an preliminary inquiry from a investment group headed by Earick last month and stated the organization was off the market.

However UK takeover and merger rules dictated that, following an expression of interest rejected, the group needed to make an offer by late October or state they would refrain.

Verification of the determination was issued in a release issued by Spurs to the financial markets, indicating the team is “not in an offer period.”

He posted an snapshot of the release on online platforms, stating: “I've had a privilege discussing with the club and the Lewis family's delegates over the past few weeks.

“I maintain great respect for the team, its executives, and its followers, and hope for nothing but success.”

The club's board expressed gratitude to the consortium for its “cooperative stance” in negotiations and for “acknowledging the firm stance” of the proprietors that the organization is not for sale.

The entrepreneur is a one-time music presenter who also served in spacecraft research for Nasa before establishing Redacted RnD, which specializes in tech, communications, sports and entertainment.

His approach was the latest inquiry declined by the team's directors since the sudden departure of long-serving chairman the former chairman in September.

In early fall, the team turned down proposals from former Newcastle United shareholder Staveley's the investment firm and a consortium spearheaded by Roger Kennedy and the co-investor through Firehawk Holdings.

Daniel Levy and his relatives hold about 30% of Enic Holdings – which has an nearly 87 percent stake in Spurs.

He was the Premier League's longest-serving chairman and is believed to have made more than £50m during his nearly 25 years in the capacity.

But he was also the subject of regular protests by Tottenham supporters, notably last season as home competition outcomes were unsatisfactory.

Spurs won their major honor in nearly two decades when they overcame United in May's continental decider.

Associated Subjects

• Premier League
• The North London club
• The beautiful game