Joe Lewis’ journey from leaving school at 15 to having an estimated worth of £5billion has included currency trading, property development, Toby Carvery, the Nolan Sisters and – most notably – Tottenham Hotspur Football Club.
The 86-year-old is rarely in attendance when Spurs – the club in which he has majority ownership – host Premier League rivals at their state-of-the-art stadium.
The 62,850-seater venue opened in 2019 just six miles up the road from Bow, where Lewis was born in 1937. He went on to purchase Spurs from fellow east-end businessman Lord Sugar in 2001 for £22million.
Unlike Sugar, however, he seldom watches the team he owns, with chairman Daniel Levy the more recognised senior figure at the club, with Lewis based in the Bahamas or aboard his superyacht, Aviva.
His varied business ventures have previously seen Lewis launch the singing career of the Nolans in his London club, hand Robert Earl – the founder of Planet Hollywood – his first job and host the Tavistock Cup golf tournament, in which the likes of Tiger Woods, Ernie Els, Sir Nick Faldo and Sergio Garcia have all played.
Lewis himself emerged from humble backgrounds, taking over – and eventually selling – the family catering company which gave him his first pay-cheque after leaving school.
Currency trading saw Lewis amass the majority of his early fortune and he benefited hugely on the events of ‘Black Wednesday’ – the sterling crisis in September 1992 which was caused by the British government withdrawing currency from the European Exchange Rate Mechanism – which Lewis had backed would occur.
It is through Tavistock Group – in which he is the primary investor – that Lewis owns Spurs, the ENIC Group purchasing the club 22 years ago.
Investments – largely in the United States – in finance, restaurants (including British chains Toby Carvery and All Bar One), resorts, energy, manufacturing and agriculture also form parts of the Tavistock Group, founded in 1975 and named after the Tavistock Catering firm in which Lewis had worked alongside his father.
ENIC’s ownership of Tottenham has led to an increasingly fraught relationship with fans who believe not enough money is being invested into the team to allow them to challenge for major honours.
The 2008 League Cup remains the only trophy won since Lewis took ownership of the club and, while Levy, in a more high-profile role, has been criticised for some time, the last few seasons have seen ENIC also come under increasing pressure.
The news of Lewis’ charges over alleged insider trading will do nothing to help build that bridge with supporters.
New head coach Ange Postecoglou will no doubt have to answer questions on the subject, while the uncertain future of Harry Kane, the club’s all-time record goalscorer, only adds to the unrest.
