Jay-Z could be looking to take ownership of Tottenham Hotspur F.C., reports say.
The news comes after Joe Lewis, a British billionaire worth $6.1 billion and owner of Tottenham Hotspur, has been charged with engaging “in multiple schemes to violate the securities laws through insider trading and submitting false and misleading filings with the United States Securities and Exchange Commission,” a court document reads.
On Wednesday, July 26, Lewis pled not guilty on the charges before U.S. Magistrate Judge Valerie Figueredo in Manhattan federal court, Reuters reports.
His lawyer, David Zornow, is maintaining his client’s innocence stating the charges were an “egregious error” and states Lewis plans to defend the claims “vigorously in court” to combat the “ill-conceived charges,” according to BBC.
In the event Lewis is found guilty, Jay-Z — who has an estimated net worth of $2.5 billion — may enter the picture with an ownership group that includes American investors, according to The Express.
Per Forbes, Tottenham Hotspur’s valuation is $2.8 billion.
“More than a few of the very top clubs there – 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,” a close associate explained, according to The Express. “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.”
Jay-Z’s interest in owning a soccer club dates back to 2010. He had previously looked into buying stake in England-based Arsenal. However, his attempt didn’t succeed.
“I don’t know a lot about the business of soccer, but in the future if the right opportunity presented itself, then who knows,” Jay-Z expressed, according to The Express.
Now, “the future” could be nearing for Jay-Z.
“He believes this is achievable, especially with the backing of fellow investors,” the associate further shared with The Express.
