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American tech entrepreneur Brooklyn Earick has dismissed making a formal takeover bid for Spurs.

Spurs had earlier “clearly turned down” an informal expression of interest from a consortium headed by Brooklyn Earick last month and stated the club was unavailable for purchase.

But the nation's corporate governance laws required that, after an informal proposal declined, Earick's consortium needed to make an offer by late October or state they would not do so.

Confirmation of the decision was issued in a announcement made by Spurs to the London Stock Exchange, indicating the team is “ceased to be in an offer period.”

The entrepreneur shared an picture of the statement on online platforms, adding: “It's been a pleasure engaging with the club and the owners' representatives over the past few weeks.

“I hold deep admiration for the club, its leadership, and its supporters, and wish them only the best.”

Spurs' leadership expressed gratitude to the consortium for its “constructive approach” in talks and for “acknowledging the clear position” of the shareholders that the organization is not for sale.

The entrepreneur is a ex-disc jockey who also was employed in space technology for NASA before establishing his technology firm, which concentrates on technology, communications, athletics and recreation.

The informal offer was the third expression of interest declined by the club's board since the unexpected exit of top executive Daniel Levy in last month.

Earlier in September, the club turned down offers from former Newcastle United shareholder Staveley's PCP International and a syndicate headed by Dr Roger Kennedy and the co-investor through Firehawk Holdings Limited.

The former chairman and his family control about thirty percent of Enic Holdings – which has an majority interest in Spurs.

Levy was the the league's top-tenured leader and is estimated to have earned in excess of fifty million pounds during his long tenure in the role.

But he was also the target of regular protests by Spurs fans, notably last campaign as home competition outcomes turned out below expectations.

Spurs won their first trophy in nearly two decades when they overcame Manchester United in last season's Europa League final.

Associated Subjects

• The Premier League
• Spurs
• The beautiful game