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Innovative business leader the entrepreneur has dismissed submitting an official acquisition offer for Spurs.

Tottenham had earlier “firmly declined” an preliminary inquiry from a consortium led by the American last month and stated the club was off the market.

However UK takeover and merger rules dictated that, having had an informal proposal turned down, the group were obligated to present a formal offer by 24 October or declare they would refrain.

Verification of the choice was provided in a release made by Tottenham to the financial markets, indicating the club is “no longer in an offer period.”

The entrepreneur posted an image of the release on digital channels, stating: “I've had a honor interacting with the club and the owners' representatives over the past few months.

“I have great respect for the team, its management, and its followers, and hope for nothing but success.”

Tottenham's directors thanked the syndicate for its “constructive approach” in negotiations and for “honoring the clear position” of the proprietors that the team is off the market.

Earick is a former DJ who also served in space technology for Nasa before establishing the innovation company, which concentrates on tech, entertainment, athletics and recreation.

Earick's proposal was the third approach turned down by the team's directors since the unexpected exit of long-serving chairman the former chairman in September.

Earlier in September, the team rejected proposals from previous club stakeholder Amanda Staveley's PCP International and a group headed by Dr Roger Kennedy and the co-investor through the holding company.

Daniel Levy and his relatives own about 30% of the parent company – which has an majority interest in Tottenham.

The executive was the Premier League's longest-serving chairman and is believed to have received more than £50m during his long tenure in the role.

However he was also the subject of regular protests by Spurs fans, notably last term as home competition outcomes turned out disappointing.

Tottenham won their initial silverware in 17 years when they defeated Manchester United in the May Europa League final.

Related Topics

• The Premier League
• Tottenham Hotspur
• Soccer