Despite hiring some of the best managers in the game, Tottenham have failed to win a trophy since 2008, when they lifted the League Cup. The club has been the subject of intense scrutiny in recent years due to its failure to win any silverware despite having some of the league’s best players and the world’s best managers.
While Tottenham have been largely unsuccessful in recent seasons, they haven’t managed to keep their names off the media for some reasons. And while losing Harry Kane to Bayern Munich this summer (alleged) created much media attention, this time around, it’s about one of the club’s major shareholders who’s at risk of going to jail.
What is Tottenham’s shareholder Joe Lewis charged with?
Joe Lewis is a Bahamas-based billionaire whose family-owned, Lewis Family Trust, owns 86.58% of Tottenham Hotspur Football Club. The billionaire, who is worth an estimated £5b, has been facing some serious charges, a 19-count indictment, including three counts of security fraud conspiracies and 16 counts of securities fraud.
Joe Lewis, whose family trust owns Tottenham Hotspur, has pleaded not guilty to charges of insider trading. pic.twitter.com/SO9SlLvb52
— Sky Sports News (@SkySportsNews) July 26, 2023
US prosecutors accused the British billionaire of an insider trading scheme to help fill his friends’ pockets with money, something the billionaire denies. He pled “not guilty” to all counts on Wednesday, after which the court granted him a huge £230 million bail.
According to The Guardian, his lawyers claimed these charges resulted from an error by the US government. Lewis is facing these charges, having invested in some companies such as Mirati Therapeutics, Australian Agricultural Company, Solid Biosciences, and BCTG Acquisition Corporation.
Did Tottenham release a statement on Joe Lewis’ alleged charges?
With Britain mourning the passing of the region’s first £1 million player, Trevor Francis, Tottenham have found themselves in the media spotlight for the wrong reasons. Tottenham’s summer couldn’t have taken a worse turn after the club hasn’t had many good things go their way so far this summer. The club has lost club captain Hugo Lloris and may lose their star forward Harry Kane to Bayern Munich before the commencement of the new season.
Tottenham have tried to distance themselves from the attention Lewis’ charges have brought in recent hours. Although they haven’t released an official statement, a club official said, “This is a legal matter unconnected with the club, and as such, we have no comment.”
