The owner of North London club Tottenham Hotspur Joe Lewis has been charged with insider trading by US federal prosecutors on Tuesday, July 25th. As the news breaks more details regarding a potential outcome of this charge will become apparent.
What sources do know is that he has been accused of giving away insider information from the businesses he owned or consulted with to grow the wealth of his friends, family, and workers. Anyone from his love interests to his limo drivers is among those suspected of benefiting from Lewis’ alleged crimes.
Tottenham Owner Joe Lewis Accused of Insider Trading
Information Regarding Several Businesses Dispersed
Lewis is part of an investment firm, Tavistock Group, and he is alleged to have given out information on several companies the firm is associated with. Those companies include major ones such as Solid Biosciences, Australian Agriculture Co, and Mirati Therapeutics.
While usually not directly involved in the operations of Tottenham at the football level, Lewis has involved himself in the potential sale of their star striker Harry Kane as he sees the major impact it could have on the club.
Repercussions Could Reverberate Throughout World Football
There is much speculation surrounding the future of Tottenham’s financial status following the charges brought against Lewis.
If it sees the club placed in a financially tight spot, then players already on the move out this summer could be let go at cheaper prices to compensate for lost funds. Harry Kane, for example, is already heavily linked with leaving the club, and he could see a drop in the price tag currently placed on his services as European clubs may smell blood if Lewis is found guilty.
Guilty Or Not, This Will Be Remembered
The accusations brought against Lewis, no matter the outcome, could be a weight on his name for the rest of his life. A recent and very sensitive example in world football would be that of Benjamin Mendy.
The Manchester City defender was enjoying a modest role at the club, but his career as part of several title-winning teams already placed him well above the average footballer. Then, the rape allegations came, and it forced Mendy out of the squad, the club, and even England entirely.
This year Mendy was cleared of all of the charges brought against him. His career in Manchester, however, is irreparable, and he is currently playing for newly-promoted Ligue 1 team Lorient.
Lewis will have every opportunity to get the charges dropped against him via a trial, just as Mendy did. But like Mendy, the accusations alone could force Lewis out of his ownership role for Tottenham. Who would buy the club should that happen is anyone’s guess, but a race to find a suitable person or group of people would be launched immediately, and would likely overshadow the rest of their season as can be expected when there are ownership problems.
Main image credit: Hzh – Wikimedia Commons, CC BY-SA 4.0.
