Tottenham takeover latest as £21bn businessman issues update

The potential takeover ofTottenham Hotspurby former DJ Brooklyn Earick is looking increasingly unlikely as one of his key investors has backed out of the deal.

Last month, the football world was rocked when it was revealed that Earick was planning to buy Spurs from the current owners. His bid came hot on the heels of long-standing chairman Daniel Levy's departure from the club, sparking rumours of a future takeover.

Earick has maintained that he's not just window shopping and would have the necessary funds to buy Tottenham when the time comes. It's thought that the American has approached several wealthy individuals to join his consortium.

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One such entrepreneur was rumoured to be Dan Gilbert, owner of the Cleveland Cavaliersbasketball team. However, it seems that Gilbert has now pulled out of the process.

Upon reaching out to Gilbert's sports and entertainment group, Rock Entertainment, The Telegraph said: "Rock Entertainment Group is constantly evaluating opportunities – both domestic and international – that strengthen our position as a leader in sports and entertainment.

"Recently, this included the review of a major UK-based sports property. After careful review, we elected not to pursue this opportunity."

The withdrawal of Gilbert, who is worth a staggering £21billion, will be a significant setback for Earick.

It is also understood that Earick and Gilbert have no connection beyond this proposal despite the former posting a picture of himself in a Cavaliers' hat on Instagram.

Earick does reportedly have 12 investors lined up to back his takeover attempt for Spurs. Nevertheless, he only has until October 24 to formally submit his offer or the bid will be thrown out completely.

Even if the money for the Spurs acquisition is fully secured and put forward to the club, it appears at this point that the ENIC Group have no desire to sell.

In a statement, the club's new non-executive chairman Peter Charrington said: "The board of the club and ENIC reconfirm that Tottenham Hotspur is not for sale and ENIC is not looking to sell its stake in the club."

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