Tottenham owner makes £70m sale

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Joe Lewis

Tottenham Hotspur owner Joe Lewis isn’t one to frequent the North London club often as he currently lives in the Bahamas.

Spurs didn’t spend a single penny in the summer, but Lewis is still raking in the money.

The Sun report, when putting a David Hockney painting up for sale with a price tag of £14m, demand saw Lewis’ profits skyrocket as the piece eventually sold for a whopping £70m.

Forbes now say the 81-year-old is worth a staggering £3.5 billion.

Tottenham fans will be hoping to see some of this immense wealth put into their team in the next couple of transfer windows.

Especially when the likes of Toby Alderweireld, Jan Vertonghen, Mousa Dembele and Christian Eriksen may all need some hefty wage increases to convince them to sign new contracts.

It is unlikely that the £70m from the painting sale will be put into Tottenham Hotspur FC, but fans can dare to dream.

Pochettino will surely be looking to spend in January after a signing-less summer.

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10 COMMENTS

    • I agree with you, the club has to fund it’s own sustainability and that is our business model. Want a Russian Oligarch instead?

      Sadly it is easy to make nice cheap and unnecessary comments Tony! Easy to carp from the sidelines.

      1. Remember when the club nearly went bankrupt? Bob Maxwell came in for us. We got Alan Sugar and people moaned about him making money, but he saved the club.
      2. While ENIC have been in charge, we have built a world class stadium. Would you and your mates who think like you have got the funding without Joe Lewis and ENIC. No? Thought not.

      Having the long term support of Joe Lewis has seen us survive and prosper and compete. There have been ups and downs. But if you can’t see that we would not be where we are without financial muscle, well that’s a shame.

      Remember Leeds United? Live the dream, spend like there is no tomorrow. League Two awaits you mate.

  1. Maybe you should try reading the rules of Financial Fair Play which doesn’t allow for owners to pump in money, all clubs have to be self sufficient.

  2. I suspect that JL doesn’t put any of his money into the club. It’s his choice after all.

    Having said that…..maybe he should put some in? He is old enough and he won’t be around forever (years wise)…maybe he would like to see Spurs win something sometime soon?

  3. Joe Lewis could have and should have funded the stadium. Instead we have borrowed at interest rates and will be paying it off for years. No doubt Daniel Levy is a top financial man, but he is relying on Pochettino to keep us in CL on nearly the transfer budget Newcastle work on. It’s a,complete joke this year. Not in the stadium. Paying for tickets. Waiting for a refund. I half hope the stadium is half empty next year when people protest at the prices and how we have been treated. Yet we will all be there to experience it while that twat who is never at games counts his billions and suns it up in the Bahamas. Football is very much a business now and don’t we know it. We are all feeding his tight fisted empire.

  4. Joe Lewis has spent not one penny of his own money on THFC in the 17 years since ENIC took control. Our pre-tax net profits over the past 10 years being something on the order of 140 million pounds. Undoubtedly Lewis is a very shrewd businessman, however he is manifestly devoid of real ambition for the club on the field, other than as a commercial vehicle to facillitate shareholder profits for ENIC. Consequently the club has won 1 trophy in 17 years, the longest such barren spell for the Spurs since WW2.

    I am frankly tired of the tedious, “at least we didn’t do a Leeds” type comments, an example of which has been trotted out religiously above. There are numerous clubs that didn’t ‘do a Leeds’, in fact every club aside from Leeds themselves and Portsmouth and a number of them run by chairmen with less financial clout than Joe Lewis, who nevertheless manifested far greater ambition for their respective clubs.

    Lewis professes to be a fan, but patently he is not. If he was a fan, with a net worth in excess of 3.5 billion pounds, he would have invested at least a moderate portion of his own personal fortune in an effort to bring success on the field, which he has not. On a personal level, our octogenarian owner lives on an 150 million pound yacht, the walls of which are evidently adorned with multi-million pound paintings, like the aforementioned Hockney. Given his age and financial standing, one might have thought at least some personal investment, towards the footballing success of a club he has owned for 17 years, might have been forthcoming. Regrettably that does not seem to be the case.

    In summary, let us hope that Lewis, having extracted his pound of flesh, sells THFC in the near future to an owner with a greater commitment to putting a title/trophy winning product on the field. That is the ultimate metric of success in the football world, not cheese rooms, micro-breweries and corporate balance sheets.

  5. Levy is Lewis’sLaki, Levy has a good number and earns well, he will not put his job at risk or his bonus, however he has badly managed the new stadium, should have had a fixed price contract in place! Should have been communicating with the fans more effectively, returned Money to the fans who paid for season tickets in good faith instead we have to but buy tickets for Wembley, then arrange for our money to be refunded game by game! Spurs then have the money for 2games for a period of time! This is profitable for the club, but not for the fans! Profit, profit is all These 2 are interested!! A very unhappy life long Spurs fan!!!

  6. I was born in Tottenham but have lived in the US for the past 41 years, so see this from a distance. I do have 2 nephews who have Spurs season tickets and, therefore, hear the complaints about the season ticket kerfuffle. I wondered from the get-go how a stadium of this size and complexity could ever be built in about the 15 months or so that they had planned on initially. I wonder if builders even offer fixed price contracts on projects of this size and complexity. Still, with all the talk of 3,500 workers on site during the construction, I fail to see how it could ever be built in the allotted time. I would have thought that Levy (even with no construction experience that I have read about) would have qualms about that schedule. To me if should have been clear LONG befoe it was announced that the stadium would NOT open on time.

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