PREMIER LEAGUE
Jay Z considers bid to buy Tottenham Hotspur
The rap icon is reportedly interested in purchasing the Premier League club, whose current owner Joe Lewis is the subject of insider trading charges.
Hip-hop impresario Jay Z is considering an audacious bid to buy Premier League side Tottenham Hotspur.
The 53-year-old is already joint owner of NBA team Brooklyn Nets but is known to be interested in expanding his sporting empire into soccer. Tottenham have been controlled by ENIC Group, owned by London trader Joe Lewis, since 1991 but the 86-year-old’s position has come under threat in recent days.
Earlier this week Lewis was charged with 16 counts of securities fraud and three further charges related to allegations of insider trading. He has been released on bail pending a trial later this year.
If Lewis is found guilty he could be forced to part with the North London club that he has owned for more than three decades.
The Express reports that Jay Z is part of a group of investors from the US who are interested in taking over from Lewis. The report quotes a close business associate of the rapper, who claims that Jay Z would “jump at the chance” to own Spurs:
“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.
“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.”
The Tottenham Hotspur squad continues its pre-season preparations under new head coach Ange Postecolglou with serious question marks surrounding the long-term ownership structure.
What is Jay Z’s net worth?
Tottenham Hotspur, a Premier League side and regular qualifier for the Champions League, are among the most valuable football teams in the world. Earlier this year Forbes valued the club at $2.803 billion.
So could Jay Z really be in a position to buy the club?
Forbes put Jay Z’s net worth at $2.5 billion, while his wife Beyoncé is though to be worth around $540 million. In theory, the couple could just about afford Tottenham at its current valuation but Jay Z is only likely to be one part of any consortium looking to buy Spurs.
Jay Z was interested in a similar move to take control of Spurs’ North London rivals Arsenal back in 2010. That attempt failed to gain traction but Jay Z confirmed that the idea of owning stake in the world’s game did interest him:
“I don’t know a lot about the business of soccer but in future, if the right opportunity presented itself, then who knows?”
No official bid is expected before Lewis’ trial later this year, but Jay Z will be ready to ‘Takeover’ if the Premier League side becomes available.