LOS ANGELES, CALIFORNIA: If Tottenham owner Joe Lewis is convicted of insider trading, Jay-Z might may make a bid to acquire the club. A business associate of the hip-hop tycoon reportedly said, "More than a few of the very top clubs there (England) – like Manchester United, Liverpool and Chelsea – are now under US ownership, and Jay would jump at the chance of a controlling interest at board level somewhere with the global reach of Spurs."
The associate added, "It remains to be seen whether Mr Lewis will walk away free. If he doesn't, Jay has said he wants to be in a position to move quickly if he feels the price is right. He believes this is achievable, especially with the backing of fellow investors," per the Daily Mail.
Who owns Tottenham Hotspur FC?
The English National Investment Company (ENIC), led by billionaire Lewis, is the largest stakeholder of Tottenham. ENIC first purchased a majority 29% stake in the club in 1991 after paying an estimated $27M to former owner Sir Alan Sugar. Following an evaluation process by ENIC, they proceeded to acquire club shares over the next 10 years, ultimately purchasing Sugar's remaining 12% in 2007 for $27M. In an effort to maintain fan involvement within the club structure, ENIC owned about 85% of the club's total share capital at the beginning of 2021, with the remaining shares being held by thousands of small investors, as reported by Sporting News.
Is Jay-Z involved in the soccer business?
Jay-Z already is involved in the soccer business. In July, his company, RocNation Sports, forged a "strategic partnership" with the Italian league, Serie A. RocNation also represents Romelu Lukaku, the Belgium and Chelsea striker, who had previously expressed his admiration for the 'Empire State of Mind' hitmaker's knowledge of the game. The soccer player said, "We spent some time together in New York... He's a person who follows football a lot, he always follows Inter (Milan). He's truly a nice person."
Jay-Z's net worth is approximately $2.5B, while Forbes said Tottenham was worth $2.8B in 2022. His wife Beyonce's bet worth is reportedly said to be $500M.
What is Joe Lewis accused of?
Lewis was indicted in New York last week on 16 counts of insider share dealing and conspiracy. ENIC, which owns 70% of the Tottenham Hotspurs, was founded by Lewis. Harry Kane, the team's standout striker, is reportedly anticipated to leave Tottenham for Bayern Munich when his contract expires. Tottenham finished last season in eighth place in the Premier League.
However, the team owns a cutting-edge stadium in north London that doubles as a Premier League soccer stadium and is among the world's best sports venues. After a mid-table finish the previous season, there are no European events in 2023. The squad last won a trophy back in 2008.
Some of the other elite soccer teams owned by Americans include Todd Boehly at Chelsea, John Henry and Fenway Sports Group at Liverpool, the Glazer family at Manchester United and Stan Kroenke at Arsenal. Jay-Z has admitted he supported Arsenal, Tottenham's prime opponent.
