Jay-Z adds to his investment portfolio with a stake in a prominent English soccer team. According to reports, Jay-Z's keen interest in purchasing Tottenham Hotspur, the soccer team that British billionaire Joe Lewis' family currently owns. However, Lewis faces 16 counts of securities fraud indictment in the US as of Wednesday (July 26). The SEC has charged Lewis, who denies the allegations, with three counts of insider trading: If convicted, he could serve prison time, pay fines, and additionally lose his stake in Tottenham Hotspur.
As a result of this, Jay-Z now strives to own the soccer team. “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,” reported Jay’s associate. “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. He believes this is achievable, especially with the backing of fellow investors.”
The cost of acquiring Tottenham Hotspur and the additional investors teaming up with Jay to secure the deal remain uncertain. Just recently, Roc Nation Sports teamed up with Italy's top soccer league, Serie A, for a "strategic partnership." They're planning to boost the league's reputation in North America using digital content, marketing, and events. Roc and Serie A started this business link-up back in 2019. “We are super excited to help Serie A expand its brand throughout America while helping to develop meaningful commercial partnerships along with enhanced brand visibility that will lead to continued growth for one of the world’s premier football leagues,” stated the Roc Nation Sports prez, Michael Yormak.
Revamped in 1928, Serie A is a classic soccer league with legendary clubs: Juventus, A.C. Milan, Inter Milan, Roma, and Fiorentina. Nevertheless, Napoli, Diego Maradona's old squad, reigned as Scudetto champions, securing their first title in 33 years. “We spent some time together in New York, and then he pushed me to return to Inter,” expressed Lukaku regarding Jay. “He’s a person who follows football a lot, he always follows Inter. He’s truly a nice person.” If Hov secures the deal with Tottenham Hotspur, this will add to his tremendous list of achievements as an entrepreneur and successful businessman.