After former Tottenham Hotspur owner Joe Lewis was indicted for insider trading, Premier League executives have admitted they were shocked by the news.
A report from Bloomberg last week revealed that Joe Lewis had been indicted in New York on charges of insider share dealing and conspiracy. Lewis handed himself in to the authorities after the charges were brought against him.
A Tottenham spokesperson responded to the situation and insisted the club would have no comment as this was a legal matter which is ‘unconnected’ to the football club (Sky News).
According to a report from Telegraph Sport on the matter, Spurs will avoid any reprimand from the Premier League as Lewis is no longer actually the owner of the club.
The Lewis Family Trusts was restructured last October and Lewis gave up his majority control over the ENIC group that owns Tottenham Hotspur. Katie Louise Booth and Bryan Antoine are currently listed as the persons of significant control at the club.
Premier League shocked by Joe Lewis charges
Now, the latest report on the situation comes from the Daily Mail, and reveals the Premier League had no idea these charges were being brought against Lewis.
Apparently, executives of England’s top league had “no prior warning” that Lewis was being indicted on “16 counts” of insider trading.
Lewis “no longer comes under Premier League rules” but it is believed “enhanced due diligence” has been carried out to assess the impact of the 86-year-old’s actions and ensure he does not have any “influence” at Spurs.
Lewis’ lawyers insist an “egregious error” has been made by US authorities and he is keen to “defend the charges.”
Spurs Web Opinion
This is a really messy situation and I’m just glad it doesn’t directly impact the club. Hopefully, it is all resolved swiftly so the media circus can move on and leave the football club to get on with footballing matters.
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