Source: Kevin Mazur / Getty
Billionaire Jay-Z might have another money-making investment in development.
His latest comeuppance may come as a result of British Billionaire Joe Lewis, who just so happens to own Tottenham Hotspur F.C.
However, Lewis may have to give up ownership of the soccer team since he was recently accused of orchestrating an insider trading scheme in the United States in relation to an Australian cattle company.
“Between at least in or about 2013 and 2021, Joseph Lewis, the defendant, a billionaire businessman and investor, engaged 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,” reads the court documents.
For his alleged crimes, Lewis has been charged with 16 counts of security fraud and three counts of conspiracy for his acts within that nine-year time span. He was presented in front of U.S. Magistrate Judge Valerie Figueredo in Manhattan federal court last month and pled not guilty.
If found guilty of the charges, the team may be up for grabs; and that’s where Hov comes in.
“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,” reports The Express.
According to Forbes, Jay is worth about $2.5 billion and the Spurs are worth north of $2.8 billion, so he could be one of the biggest investors within a group hoping to take ownership of the overseas club.
This wouldn’t be the first club that has American owners –since top organizations like Manchester United, Liverpool and Chelsea all have majority owners in the States.
The moment would be full circle for Hov who first showed interest in buying English squad Arsenal back in 2010, and despite his bid not being accepted, he welcomed the idea in the future, saying at the time, “I don’t know a lot about the business of soccer but in [the] future, if the right opportunity presented itself, then who knows?”
Hov’s interest in soccer may have also played a part in Roc Nation Sports recently forming a strategic partnership with Italian Soccer League Serie A.
