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  • Writer's pictureJamal Saafir

More Green In Play For Jay-Z

The arts and entertainment world have given many natural entrepreneurs and business persons the opportunity to truly spread their investor wings and soar to new heights. We’ve seen Rihanna, Rick Ross, and Ye’ make notable strides in the way of investing and entrepreneurship. Another artist that has definitely taken advantage of the opportunities and possibilities attached to their still mounting success is Jay-Z, also known as Shawn Carter.

As reported by Vibe, Mr. Carter reportedly has intentions of purchasing Premier League soccer club, the Tottenham Hotspurs, if the team’s present owner forfeits ownership of the franchise.

According to Football365, JAY-Z is currently “preparing an audacious bid” to purchase the club from British billionaire Joe Lewis, who was recently charged with securities fraud and conspiracy after being accused of providing insider trading tips. Lewis – whose family trust owns Tottenham – was granted bail by a judge in New York after pleading not guilty to the charges. The 86-year-old faces 16 counts of securities fraud and three counts of conspiracy.

A business associate close to Carter says that Jay-Z would “jump” at the opportunity to own a professional soccer team.

“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,” the source told the outlet.

The source went on to say, “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.”

“He believes this is achievable, especially with the backing of fellow investors.”

Carter’s bid would be included in an offer to Lewis from a potential ownership group comprised of himself and other “American investors” looking to purchase the club.

Jay-Z is no stranger to ownership of a professional sports franchise, as the artist once held a minority stake in the New Jersey and Brooklyn Nets from 2004 until 2013. The Brooklyn native sold his share of the team to former Nets star and head coach Jason Kidd for a reported $500,000.

Prosecutors say Lewis is alleged to have used his access to privileged information to give stock tips to people close to him, with the indictment mentioning one girlfriend making $849,000 on one of those tips.

Lewis’ legal counsel David Zornow, from the Skadden, Arps, Slate, Meagher & Flom firm, said: “The government has made an egregious error in judgment in charging Mr. Lewis, an 86-year-old man of impeccable integrity and prodigious accomplishment.

“Mr. Lewis has come to the US voluntarily to answer these ill-conceived charges, and we will defend him vigorously in court.”

However this all plays out, Jay-Z continues to add to his portfolio in ways no one probably ever imagined. Salute!

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