Joe Lewis’ insider trading indictment will again drag Tottenham Hotspur through the mud, painting an irreparably grievous picture of the club’s ownership group.
If it weren’t so desperately horrific, it might be farcical. But there’s nothing funny about the latest Lewis revelations.
As per the Athletic:
"Tottenham owner Joe Lewis has been indicted for “orchestrating a brazen insider trading scheme” that involved passing information to “romantic partners and his private pilots,” United States attorney for the Southern District of New York Damian Williams has announced.Lewis, 86, is charged with 13 counts of securities fraud, each of which carries a maximum sentence of 20 years in prison; three counts of securities fraud, each of which carries a maximum sentence of 25 years in prison; and three counts of conspiracy, each of which carries a maximum sentence of five years in prison, per the indictment issued by the United States Attorney for the Southern District of New York’s office.In news that could have consequences for any potential sale of the club, the billionaire is alleged to have “abused his access to corporate board rooms and repeatedly provided inside information to his personal assistants and his friends,” too. “Those folks then traded on that inside information and made millions of dollars in the stock market because thanks to Lewis, those bets were a sure thing.”It is unclear yet whether the indictment could raise significant issues for Lewis. The Premier League has an owners and directors test which is designed to stop people convicted of such crimes owning a club. However, Lewis ceded official control to Bryan Glinton and Katie Booth in October 2022."
I mean, come on. How much more can ENIC withstand before finally walking away from Tottenham Hotspur?
Supporters deserve so much better than being led by a snake who has allegedly acted so brazenly, irresponsibly, completely flouting societal law.
It’s yet another slap in the face to the club, supporters, coaches, and players, who’ve been forced to put up with Lewis and his cronies for almost a quarter of a century. If that isn’t enough to make you projectile vomit, you’ve got a stronger stomach than most.
We’ll have to see how the dust settles, but, as usual, Lewis will lawyer up and vehemently deny all wrongdoing—considering Lewis’ age, 86, who knows whether he’ll ever have to face justice.
These types of indictments usually take years to sort out.
Meanwhile, supporters must find a way to persevere in the face of more humiliation, this collection of incidents by far the worst in a long line of egregious mishaps by the ownership group.
Lewis has just poured gallons of kerosene on the ENIC-out campaigners’ raging fire. And the minority who didn’t want to see the back of ENIC now will; how anyone can support ENIC after this debauchery is as inconceivable as asinine.
Hopefully, the Premier League intervenes and forces ENIC to sell Tottenham Hotspur, though I doubt the top flight’s governing body will step up and take such perceived drastic action.
But something needs to give, as supporting a side whose owner flouts the laws so recklessly, at least allegedly, cannot stand.
So here we are at yet another crossroads. Hopefully, this time something actionable occurs because such atrocities, if proven, are as inexcusable as they are unforgivable.
And no supporter should sit idly by while our owner struts around, conducting himself with such disgrace and treachery.