Could Jay-Z Be Buying Into The English Premier League?
Written by djfrosty on August 2, 2023
Source: Christian Liewig – Corbis / Getty
Jay-Z might be adding an English Premier League team to his roster, as the club’s current owner is in hot water with the U.S. government.
According to Yahoo, the Hip-Hop icon and business mogul is interested in being an owner of Tottenham Hotspur F.C., the Premier League soccer club. The news comes as its owner, British billionaire Joe Lewis, was 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,” according to the unsealed indictment. Out on $300 million bail after appearing in a federal court in New York last Wednesday (July 26th), Lewis is charged with 16 counts of security fraud and three counts of conspiracy for alleged crimes between 2013 and 2021.
As initial news of Lewis’ legal troubles began last October, the club issued a statement that he was “no longer a person with significant control at the club”. It raises the potential for the club to be purchased, with a current valuation of $2.8 billion by
Forbes along with the fact that other Premier League clubs like Manchester United, Chelsea, and Liverpool are under American ownership. Another selling point is the team’s star, striker Harry Kane, who is one of the best players in the world and the captain of England’s national men’s team.
Jay-Z, who would make a bid along with other investors, has been interested in owning a soccer team since 2010 when he made inquiries about buying a stake in Tottenham’s North London rivals, Arsenal. “I don’t know a lot about the business of soccer, but in the future if the right opportunity presented itself, then who knows,” he said at the time. Roc Nation has been active in Italy’s Serie A, recently signing a deal with the professional league. “He believes this is achievable, especially with the backing of fellow investors,” an unnamed associate of Jay-Z expressed. The consensus of observers is that he and his team are waiting to see the outcome of Lewis’ trial, for which a date hasn’t been set yet. The rapper and his representatives did not comment when contacted by reporters.
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