Music mogul Jay-Z is preparing to bid for Tottenham Hotspur if the club’s owner is convicted of fraud and insider trading, aa close business associate has told Daily Express US.
The rap icon, 53, who is worth in excess of £1.95billion, is backed by a group of US investors who are waiting in the wings to learn the fate of Spurs supremo Joe Lewis.
The move comes 13 years after Jay-Z expressed interest in becoming a major investor in North London rivals Arsenal.
He revealed he had become a huge fan of the team then led by his favourite player, Thierry Henry.
That bid fell flat – but Jay-Z, already a joint-owner of top NBA basketball team New Jersey Nets, insisted at the time: “I don’t know a lot about the business of soccer but in future, if the right opportunity presented itself, then who knows?”
His associate said the hip-hop billionaire, whose wife Beyoncé has a personal fortune estimated at £420million, is still – in the words of their hit – Crazy in Love with England’s “beautiful game”.
They said: “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.” Spurs’ estimated market value has risen slightly this year to £2.18billion – a sum well within reach for Jay-Z, whose real name is Shawn Carter.
His associate added: “He believes this is achievable, especially with the backing of fellow investors.”
Mr Lewis, 86, who was born above a pub in East London and amassed a fortune of more than £5billion from currency trading, appeared in a New York court last week to deny 16 counts of securities fraud and three further conspiracy charges relating to alleged “insider trading” offences between 2013 and 2021.
The charges each carry a maximum sentence of between five and 25 years in jail.
US attorney Damian Williams told the court: “He used inside information as a way to compensate his employees or shower gifts on his friends and lovers.”
Mr Lewis was released on bail and is likely to face trial later this year.
Spokespeople for him and for Jay-Z declined to comment on the future of Spurs’ ownership.
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