Brooklyn Earick has formally withdrawn his record-breaking £4.5 billion bid to buy Tottenham Hotspur after the Lewis family made it clear they will not sell the club “under any circumstances.” The American businessman’s 12-member consortium had been in advanced talks, but Spurs’ owners reiterated their firm long-term commitment to keeping control.
Earick made record £4.5bn bid for Tottenham
Brooklyn Earick had tabled a world-record offer worth £4.5 billion, including £3.3bn for the club and a further £1.2bn in funding for transfers and wages. Despite a series of discussions with Tottenham’s representatives, the Lewis family refused to entertain a sale. Following their stance, Earick confirmed via a Stock Exchange statement that he would no longer pursue a formal bid.
AdvertisementGetty Images NewsSale turned down by Tottenham board
Tottenham confirmed the end of discussions and thanked all parties for their professionalism. “The Board of Tottenham Hotspur Limited (the ‘Club’) notes the recent announcements from the Firehawk and Mr Earick’s consortiums that they do not intend to make an offer for the Club,” read the statement. “The Board thanks them for the constructive approach taken in the discussions with the Club's and the Lewis family's representatives and respecting the clear position of the Lewis family that the Club is not for sale. Following the announcements made by the consortiums, the Club is no longer in an offer period under the City Code on Takeovers and Mergers.”
Getty Images NewsEarick led the consortium with Dan Gilbert
Earick had formed a US-led group of 12 investors to finance the record-breaking move, with backing reportedly including NBA franchise owner Dan Gilbert. However, growing uncertainty and the Lewis family’s refusal to negotiate forced the group to pull back. Sun Sport reports that talks were held with legal counsel Douglas Armstrong before Earick agreed to step away.
Earick could still return to takeover at Tottenham…
While Earick has withdrawn, the Stock Exchange confirmed his consortium “reserves the right to acquire shares” in the future under takeover regulations. The American also voiced a message after pulling out from the move, which read: "It’s been a privilege engaging with Tottenham Hotspur and the Lewis family’s representatives over the past few months. I have great respect for the Club, its leadership, and its supporters, and wish them nothing but success."
