JAY-Z, the well-known rapper and entrepreneur, has been involved in various investment activities throughout his career. The latest news suggests that he is planning to invest in a famous English soccer team.
According to a report by Football365 on Sunday (July 30), Jay-Z has shown interest in acquiring Tottenham Hotspur, the soccer team currently owned by British billionaire Joe Lewis through his family trust. It is worth noting that Lewis was indicted on 16 counts of securities fraud in the United States on Wednesday (July 26).
Lewis, who has pleaded not guilty, is also charged with three counts of insider trading by the Securities and Exchange Commission (SEC), according to The Guardian. If he is found guilty of these charges, he could face imprisonment and fines. Moreover, a conviction would likely lead him to give up his ownership of the North London Premier League team.
According to an associate of JAY-Z, the Hip Hop billionaire is aiming for that outcome from a financial perspective.
“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,” the associate told Football365.
“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.”
It is currently unclear how much JAY-Z would need to pay to purchase Tottenham Hotspur, and the identities of the other investors who might join him in this investment have not been disclosed yet.
This is not the first time JAY-Z has been involved in soccer deals. Recently, Roc Nation Sports entered into a “strategic partnership” with Italy’s top soccer league.
Together, Roc Nation Sports and Serie A will collaborate to elevate the league’s visibility in North America through various means, including digital content, marketing activities, and events. Their partnership initially began in 2019 and aims to strengthen the presence and popularity of Italy’s premier soccer league in the North American market.
“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,” said Roc Nation Sports president Michael Yormark.
Serie A, founded in 1928, is one of the world’s oldest and most prestigious soccer leagues, home to famous clubs like Juventus, A.C. Milan, Inter Milan, Roma, and Fiorentina.
Last season, Napoli, Diego Maradona’s former team, achieved a remarkable victory by winning the Scudetto. It was their first league title in 33 years, marking a significant and memorable achievement for the club.
Romelu Lukaku, the Inter Milan striker, is already represented by Roc Nation Sports and is rumored to be dating Megan Thee Stallion.
Earlier this year, Romelu Lukaku shared that he spent time with JAY-Z in New York, and during their interactions, JAY-Z encouraged him to return to Inter Milan. Lukaku spoke highly of JAY-Z, describing him as someone who is genuinely interested in football, particularly Inter, and also commending him for being a genuinely nice person.