Though Daniel Levy has been the face of Tottenham Hotspur for some while now, it is Joe Lewis that clearly pulled the strings at the club, however, after being indicted on potential charges of corruption, it’s believed that the north London giants may now need to be sold, even though Lewis’ decade’s long ownership effectively ended when he ceded majority ownership to a family trust.
It never rains but it pours at White Hart Lane it seems, though it’s doubtful anyone could’ve seen Wednesday’s news coming.
Joe Lewis in no longer the owner of Tottenham Hotspur.
Lewis – indicted by the US Government for insider trading yesterday – ceded majority ownership of the club to 'a family discretionary trust' 'of which certain members of [his] family are potential beneficiaries' in October. pic.twitter.com/g4aPVfqbCb
— Duncan Castles (@DuncanCastles) July 26, 2023
The US Attorney’s office has been accused of alleged insider trading which amounts to “corporate corruption. It’s cheating. And it’s against the law,” according to U.S. Attorney Damian Williams.
Statement of U.S. Attorney Damian Williams on U.S. v. Joseph Lewis pic.twitter.com/9rGTTYVx6h
— US Attorney SDNY (@SDNYnews) July 25, 2023
Forbes note that sports bankers believe a sale of the Premier League club is now likely because of these accusations, and Statista estimate that the north London giants are currently worth in the region of $2.7bn.
That’s a hefty amount for anyone to find should there be interest in the club, however, it’s entirely possible that a new direction could be the best thing to happen to the club in years.
Quite what a sale would mean for Levy’s position is anyone’s guess at this stage, but with supporters seemingly always keen to downplay the current Chairman’s contribution, they might find a ‘be careful what you wish for’ scenario comes into play further down the line.
At least everyone is aware of Levy’s modus operandi even if they’re not entirely sold on it, equally it’s about time this sleeping giant awoke.
Joe Lewis no longer “owns” the club. It was put into trust and he has 0% ownership so his legal issues have no bearing on the club. This is clickbait.
Since Lewis’s interests in the club and possibly his other holdings, have been transferred to a beneficiary trust for his children and the management of that trust has been out of his hands and into that of two trustees unconnected with his family since October 2022, how can he be regarded as the club’s owner? If he can’t, why would he have to sell it?
It seems to me extremely likely that Joe Lewis has been aware for some time of his being under investigation, and therefore took steps last year to protect his family’s financial interests.
Is this incorrect?
One of the poorest pieces of journalism I’ve seen in years. “Lewis’ decade’s long ownership to an end.” It’s like he couldn’t be bothered to look up how long ENIC has owned the club and then not to even knowing that Lewis gave over the ownership of ENIC to a family trust last year smacks of incompetence.