Who is Tottenham Owner Joe Lewis? Everything You Need to Know
Tottenham owner Joe Lewis has been indicted in the US for being the mastermind behind a ‘brazen’ insider trading scheme. The 85 year-old has been accused by US attorneys of passing on inside information and faces dozens of other charges including securities fraud. The news from across the Atlantic has cast uncertainty over the club, which has been run day-to-day by Lewis’s friend and business partner Daniel Levy for over 20 years, although Levy is not accused of any wrongdoing. So, who exactly is Spurs owner Lewis? Here is everything you need to know.
Who is Tottenham Owner Joe Lewis?
Lewis is thought to have been born above the Roman Arms pub in East London, leaving school aged 15 to start working in the family-run cafe. He transformed the business into one that specialised in selling luxury goods to American tourists and eventually sold the company for £30 million in 1979. The money made from the sale allowed Lewis to move to the Bahamas where he grew his wealth in currency trading.
Lewis made his real fortune on the collapse of the pound on ‘Black Wednesday’ financial crash in 1992 – a feat he repeated three years later when the Mexican peso suffered the same fate. He has two children and is married to his second wife Jane.
What is Joe Lewis’ Net Worth?
The Sunday Times Rich List estimates his worth to be around £5.096 billion. His estate includes land in Argentina, Bulgaria and the US, an extensive art collection and a £113 million superyacht which includes a full sized tennis court. His acquisition of land in Argentina was particularly contentious, with Lewis clashing with locals over access to a nearby lake.
Lewis, who still resides in the Bahamas, is also the largest shareholder in the British pub group Mitchells & Butlers and has further shares in US investment bank Bear Stearns.
When Did Joe Lewis Buy Tottenham?
In 1997, Lewis partnered with his son, Charlie, and Levy to found English National Investment Company (ENIC), which is now a subsidiary of the Tavistock Group. In 2001, ENIC bought a controlling stake in Tottenham from Alan Sugar, with the rest of Sugar’s shares purchased in 2007 to give the company its present 85% stakehold.
According to the indictment, Lewis ceased to be ‘a person with significant control’ of Tottenham last year, following a ‘reorganisation of the Lewis Family Trusts.’
What is Daniel Levy’s Role?
Levy has been the Tottenham chairman since 2001 and in the absence of publicity shy Lewis, he has very much become the face of the club. The 61 year-old, who is also the managing director and executive director of ENIC, takes on the day-to-day running of Spurs.
Levy has overseen the construction of the club’s state-of-the-art training facility in Enfield as well as the move into the new £800 million Tottenham Hotspur Stadium.
Conclusion
Joe Lewis is an enigmatic figure who has made a fortune through shrewd investments and currency trading. He has been at the helm of Tottenham for over two decades and his recent indictment by US authorities has cast uncertainty over his future involvement with the club. Despite this, Daniel Levy remains in charge of day-to-day operations and will continue to lead Spurs into a new era.
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