US consortium bids 4.5bn for Tottenham, ENIC says not for sale

A United States consortium led by tech entrepreneur Brooklyn Earick has lodged an informal expression of interest to buy Tottenham Hotspur, offering a package worth about 4.5 billion, the club confirmed Friday, but Tottenham’s majority owners rejected the approach and reiterated the club is not for sale. The consortium’s proposal would reportedly split into 3.3 billion to acquire the club and a further 1.2 billion earmarked for strengthening the playing squad and related costs, with an additional 250 million suggested for stadium naming rights.

Tottenham’s board told the London Stock Exchange that its majority shareholder, ENIC Sports Developments Holdings Ltd, had received and “unequivocally rejected” the approach. The statement added that ENIC is not looking to sell its stake. The City Code on Takeovers and Mergers requires the consortium to either announce a firm intention to make an offer or confirm it does not intend to do so by 5.00 p.m. on 24 October.

Earick, a 41 year old entrepreneur who has worked in technology and previously as a DJ, assembled a 12 member group that is said to include investors from the NFL and NBA. The plan advanced by the consortium envisages...