HomeViralJay-Z Reportedly Positioning For Takeover Of Soccer Team
Jay-Z Reportedly Positioning For Takeover Of Soccer Team
July 31, 2023
Jay-Z is looking to take his big moves in sports out of the USA.
The business tycoon is making headlines again, but it is not about music or fashion. Reports have surfaced indicating that the rap icon might be strategically positioning himself for a groundbreaking move into soccer.
Jay-Z Reportedly Positioning For Possible Takeover Of English Premier League Team
While Tottenham Hotspur faces uncertainty as owner Joe Lewis denies alleged insider trading and securities fraud charges in the U.S., rumors are swirling that the multi-talented artist is eyeing a potential takeover opportunity.
The 53-year-old is gearing up for a bold move to acquire the English Premier League giant. A close business associate claims that Jay-Z – whose net worth now exceeds $2.5 billion according to Forbes – and some American investors are ready to step in if the club’s current owner is convicted of his alleged crimes.
This potential takeover comes thirteen years after the “Reasonable Doubt” artist expressed interest in investing heavily in Spur’s rival team, Arsenal. Back then, he admired Arsenal, led by his favorite player, Thierry Henry, but the bid did not materialize.
Nevertheless, as a joint owner of the Brooklyn Nets in the NBA, Jay-Z had hinted, “I don’t know a lot about the business of soccer, but in the future, if the right opportunity presented itself, then who knows?”
The tiny setback did nothing to discourage the hip-hop star, as he is still reportedly profoundly enamored with the “beautiful game” in England. According to the associate:
“More than a few of the very top clubs there – like Manchester United, Liverpool, and Chelsea – are now under U.S. ownership, and Jay would jump at the chance of a controlling interest at board level somewhere with the global reach of Spurs. 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.”
Although the estimated market value of Tottenham Hotspur has seen a slight increase to $2.8 billion (£2.18b) this year, the insider adds that Jay-Z believes that achieving this goal is entirely possible – with the support of fellow investors.
As for Lewis, Daily Express reports that the 86-year-old appeared in a New York court to deny 16 counts of securities fraud and three conspiracy charges.
These allegations are connected to alleged “insider trading” offenses between 2013 and 2021. Each charge could carry a maximum sentence ranging from five to 25 years in jail if convicted.
Damian Williams, the U.S. Attorney for the Southern District of New York, stated, “He used inside information to compensate his employees or shower gifts on his friends and lovers. That’s classic corporate corruption.”
The ‘Roc-A-Fella Records’ Co-Founder Crowned Greatest Rapper Of All Time
Earlier in the year, The Blast reported that “The Blueprint” rapper’s profound impact on the music industry and cultural landscape was acknowledged. Jay-Z boasts of a career spanning over three decades with numerous critically acclaimed albums, awards, and as an established entrepreneur. His reach extends to fashion, sports management, and music streaming.
The father-of-three is also not just about business judging by his many philanthropic efforts and activism. This is why, to mark hip-hop’s 50th anniversary, Billboard and Vibe joined forces for a special countdown to honor the greatest M.C.s of all time. At number one on the list was the Roc Nation President, living up to the self-assured statement in his song, “I will not lose.”
Having achieved 14 Billboard 200 No. 1 albums (the most among solo acts), sold over 140 million records, and earned 24 Grammys, he has undeniably solidified himself as a dominant force in the music industry.
While guiding artists like Rihanna and Kanye West to billionaire status, the “American Gangster” rapper has also left a lasting impact in the beverage industry with his best-selling spirits brands, D’usse and Armand de Brignac.
Being the first rapper inducted into the “Songwriters Hall of Fame” is a testament to Jay-Z’s genius-level talent. At the same time, his belief in the potential for everyone to achieve greatness has made him a role model for aspiring artists and entrepreneurs.