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US technology mogul the entrepreneur has rejected launching a buyout proposal for Tottenham.

The club had previously “firmly declined” an informal expression of interest from a consortium led by the American last month and insisted the club was unavailable for purchase.

But the nation's corporate governance laws stipulated that, after an expression of interest declined, the group needed to make an offer by late October or state they would not proceed.

Confirmation of the decision was provided in a announcement released by Spurs to the London Stock Exchange, stating the team is “no longer in an takeover phase.”

He posted an snapshot of the release on online platforms, remarking: “It was a privilege interacting with the club and the owners' delegates over the past few months.

“I maintain great respect for the team, its executives, and its fans, and wish them only the best.”

The club's board acknowledged the syndicate for its “constructive approach” in talks and for “honoring the firm stance” of the owners that the team is not for sale.

Brooklyn Earick is a former DJ who also was employed in aerospace studies for NASA before establishing his technology firm, which concentrates on technology, media, athletics and leisure.

Earick's proposal was the third inquiry declined by the organization's leadership since the sudden departure of top executive Levy in the fall.

Earlier in September, the club turned down approaches from ex-Newcastle investor Amanda Staveley's the investment firm and a group led by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings.

The former chairman and his relatives control about a significant stake of the parent company – which has an majority shareholding in Spurs.

The executive was the Premier League's top-tenured leader and is estimated to have earned in excess of fifty million pounds during his long tenure in the position.

But he was also the subject of ongoing dissent by Spurs fans, especially last campaign as home competition outcomes proved unsatisfactory.

Spurs claimed their initial silverware in seventeen years when they overcame Manchester United in May's European final.

Associated Subjects

• The Premier League
• The North London club
• Football