JAY-Z has made many investments over the course of his career — and his latest investment is reportedly going to be in a well-known English soccer team.
On Sunday (July 30), Football365 reported that Hov is interested in purchasing Tottenham Hotspur from British billionaire Joe Lewis, whose family trust currently owns the soccer team. Lewis, however, was indicted on 16 counts of securities fraud in the United States on Wednesday (July 26).
Lewis, who has pleaded not guilty to the charges, has also been charged with three counts of insider trading by the Securities and Exchange Commission (SEC), according to The Guardian. Both of these charges carry prison time and fines if Lewis is convicted — which would also mean that Lewis would have to give up his vested interest in the North London Premier League team.
And that, according to an associate of JAY-Z’s, is what the Hip Hop billionaire is hoping for, 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’s not clear, however, what the purchase price of Tottenham Hotspur will be in this circumstance, or what other investors will team up with JAY-Z to secure the investment.
What’s more, this isn’t the first soccer deal that Hov has become involved with. Earlier this month, Roc Nation Sports agreed to a “strategic partnership” with Italy’s premier soccer league.
They will join forces to raise the league’s profile in North America through an array of “digital content, marketing activations and events.” The Roc and Serie A initially entered into business together 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,” said Roc Nation Sports president Michael Yormark.
Founded in 1928, Serie A is one of the world’s oldest and most prestigious professional soccer leagues, home to iconic clubs like Juventus, A.C. Milan, Inter Milan, Roma and Fiorentina.
However, it was Napoli — Diego Maradona’s former team — who are the reigning Scudetto champions having clinched their first league title in 33 years last season.
Inter Milan striker Romelu Lukaku — who is currently rumored to be dating Megan Thee Stallion — is already one of the many global superstars repped by Roc Nation Sports.
“We spent some time together in New York, and then he pushed me to return to Inter,” Lukaku said of Hov earlier this year. “He’s a person who follows football a lot, he always follows Inter. He’s truly a nice person.”