American tech entrepreneur Brooklyn Earick has ruled out making a formal takeover bid for Tottenham.
Tottenham “unequivocally rejected” an informal expression of interest from a consortium led by Earick last month and insisted the club was not for sale.
But UK takeover and merger rules dictated that, having had an expression of interest rejected, Earick’s consortium needed to make an offer by 24 October or announce they would not do so.
Confirmation of the decision was made in a statement made by Tottenham to the London Stock Exchange, stating the club is “no longer in an offer period”.
Earick posted an image of the statement on social media, adding: “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.”
The club’s board thanked the consortium for its “constructive approach” in negotiations and for “respecting the clear position” of the owners that the club is not for sale.
Earick is a former DJ who also worked in spacecraft research for Nasa before founding Redacted RnD, which focuses on technology, media, sport and entertainment.
His approach was the third expression of interest rejected by the club’s board since the sudden departure of executive chairman Daniel Levy in September.
On 8 September, the club rejected approaches from former Newcastle United shareholder Amanda Staveley’s PCP International Finance Limited and a consortium led by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
Levy and his family own about 30% of Enic Sports & Developments Holdings Ltd – which has an almost 87% stake in Tottenham.
Levy was the Premier League’s longest-serving chairman and is estimated to have earned more than £50m during his almost quarter of a century in the role.
But he was also the target of regular protests by Spurs fans, especially last season as domestic league results proved disappointing.
The north London club won their first trophy in 16 years when they beat Manchester United in May’s Europa League final.
