Beyonce’s Husband Jay-Z To Buy Tottenham Football Club
Beyonce’s husband, Jay-Z is set to bid for the acquisition of English football club Tottenham Hotspur football club.
The rapper who’s worth in excess of £1.95 billion is preparing to purchase the North London club should the owner, Joe Lewis, be convicted of fraud and insider trading.
Advertisement
The black American music icon, 53, is backed by a group of US investors.
No bid is imminent yet until the coast is clear that the club’s owner is indeed convicted.
The club’s owner, 86, reportedly made a fortune of over £5 billion from currency trading but was charged a week ago for securities fraud and three further conspiracy charges for alleged “insider trading” offences that happened between 2013 and 2021.
He denied the 16 counts he was charged with. Each count carries a maximum of 25 years in jail if convicted.
Advertisement
“He used inside information as a way to compensate his employees or shower gifts on his friends and lovers,” US attorney Damian Williams told the court.
Although he was released on bail, he’s likely due back in court for trial later in the year.
That has thrown the club in turmoil.
To avoid uncertainty, the club may be up for sale with Jay-Z signifying early intention to buy.
“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,” his associate told the Express.
Advertisement
“It remains to be seen whether 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.”
Although Tottenham’s market value has risen slightly in 2023 to £2.18 billion, Jay-Z, whose wife, Beyonce’s personal fortune is estimated at £420 million, is believed to possess the capital to buy the club.
“He believes this is achievable, especially with the backing of fellow investors,” said associate of Jay-Z whose real name is Shawn Carter.
The sports lover came close to buying a major stake in Arsenal, another north London club 13 years ago but is a joint-owner of an NBA franchise, the New Jersey Nets.
