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Stan Kronke in secret talks with Joe Lewis over ending Tottenham stadium funding impasse

By Dr Billy McGraw

In a wholly unexpected development it seems that Joe Lewis has been in touch with Stan Kronke to discuss what a source has called “areas of mutual interest in England”.

Joe Lewis, who is 80 and said to be worth £4.5bn is a British citizen who lives in the Bahamas and is the power behind Tottenham Hotspur.  Stan Kronke is an American citizen, who is ten years younger and worth maybe twice as much, and is the majority owner of Arsenal.

So what brings these two together?

Joe Lewis began making his money selling selling luxury goods to American tourists, before moving into currency trading including having an involvement in Black Wednesday when the UK was removed from the European Exchange Rate Mechanism.  His involvement in Tottenham may well relate back to his own humble origins in London’s east end.

Stan Kronke is the owner of a range of sports clubs such as the Denver Nuggets of the NBA, Colorado Avalanche of the NHL, Colorado Rapids of Major League Soccer, Colorado Mammoth of the National Lacrosse League and the Los Angeles Rams of the NFL.

On the face of the men have little in common from their histories: Kronke is of a Lutheran background, and has three degrees from the University of Missouri.  Lewis left school early, had no further or higher education and is of a Jewish background.

But there are connections.   The Kroenke Group has developed numerous shopping centres and apartment buildings, particularly around Wal-Mart stores.   He is also chair of the interestingly name THF Realty (note the initials) an independent real estate development company that specializes in suburban development. In 2016, THF’s portfolio was valued at more than $2 billion, including more than 100 projects totalling 20 million square feet, primarily in retail shopping centres.

Furthermore Kronke has a lot of experience in moving clubs around.  For example in January 2016 after a complex and convoluted set of deals and legal arrangements it was agreed by the NFL that the Rams should be allowed to relocate from St. Louis back to Los Angeles.

The situation at Tottenham, where there has been suggestion that the club is facing some difficulties over the fact that its stadium redevelopment cost has risen from under £400m to over £800m, and issues concerning getting suitable bank loans.

This has raised questions about their own relocation from White Hart Lane to Wembley and back again. for there are also questions about whether the work at the old White Hart Lane stadium will be done in time to make the move to Wembley viable as a one year project.   Premier League rules do not allow clubs to have two “home” stadia during one season.  There is also pressure from Chelsea, who also want to use Wembley for perhaps three years while their stadium is rebuilt.

The story that is emerging is that 80 year old Joe Lewis has spoken with Stan Kronke about issues relating to both the financing of stadia and the moving of clubs with a view to resolving the issues at Tottenham once and for all.  As part of this it is suggested that Joe Lewis is concerned about leaving a difficult financial situation at Tottenham to his heir, Vivienne Lewis Silverton.

Vivienne Silverton is on Tavistock’s board of directors and is divorced, while Joe Lewis’ son lives in Argentina.  Tavistock is a group that itself owns over 200 companies.

While it seems that everyone in the Lewis and Kronke camps is clear that there can be no joint ownership of Premier League clubs, it does seem that an era of co-operation is being examined with the possibility of Kronke’s NFL experience being used to bring American football to White Hart Lane with a view to further mutual explorations in other parts of London.

The ultimate aim of a London Group of football and other sports clubs cannot be ruled out – at least for today, although as Mr Kronke said in a recent interview, “context is everything”.


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9 comments to Stan Kronke in secret talks with Joe Lewis over ending Tottenham stadium funding impasse

  • Leon

    Nice April Fool Tony😂

  • Leon

    ….it’s about time you changed to BST

  • Shhhh don’t tell anyone. And don’t wake anyone either.

  • Minesy

    Not as good as the UK leaving the EU, Trump being President …. hold on ….

  • Samuel Akinsola Adebosin

    With due respect, what has this article posting got to do with the current on the feild poor Arsenal results which has seen them currently placed 6th on the PL table instead of them to be number one on it?

    Uncertainties as regards to Le Prof’s, Ozil and Sanchez contrasts extension are currently reigning at Arsenal as Le prof’s statement in his latest press conference on the possibilities of him extending his staying at Arsenal as their manager beyond this summer has made me to suspect he wants another 3 years deal and not 2 to extend his current deal there if Arsenal got a 4th place finish and won the FA Cup this season.

    If Arsenal did at the long run got the 4th place finish and also win the FA Cup this season, Le Prof will use that as bait to get the Arsenal board to give another 3 years contract deal which I think they will despite him not able to guide Arsenal to a PL and CL wins this season which is the main reason behind the agitations against him to leave Arsenal at the end of this season by the disgruntled Arsenal supporters who want him out.

    But the big question an Arsenal supporter like myself is asking is, will Le Prof change from his current ways in managing Arsenal which are looking to old method and conservative in nature to a more morden and pragmatic ways of managing Arsenal after he might have gotten the new 3 years deal so that Arsenal will go past getting a 4th place finish and winning any of the domestic Cup completions which are good to get and win on their own, but also win the priced PL and CL titles next season? If he sincerely believed in his heart he can achieve these 2 big results for Arsenal next season after Arsenal might have gotten a 4th place finish and win the FA Cup this season, he can remain the Arsenal manager beyond this season.

    He said in his last press conference that Arsenal are yet to make contact with the players they’ve identified to sign next season. Why the delays in doing that? Time is of the essence. Arsenal should not be dragging their feet as to who and who they want to sign next season provided those players are world class ones. Delaying in Arsenal negotiating early and closing the deals ahead of the summer window like they did in the Granit Xhaka’s case will help Arsenal from being out bidded by their big and richer rival clubs during the heat of the transfer bidding war in the summer.

    Right now Arsenal have 3 world class Gunners in Ozil, Sanchez and Mustafi who have won the world cup and regional tournaments Cup with their countries in recent times. To make Arsenal stronger in challenging successfully for the PL and CL next season, Arsenal will need to sign 3 more world class players in addition to the 3 they already have on ground. A left back, a deep lying and a striker-winger in the top goalscoring quality of Romelu Lukaku will be most desired to see at Arsenal next season in addition to the other top quality players there who are not yet world class grade.

  • para

    Isn’t April fools day meant to commemorate how they fool us every day or something like that? 🙂

  • Ben

    What a load of shite “Joe Lewis, who is 80 and said to be worth £4.5bn is a British citizen who lives in the Bahamas and is the power behind Tottenham Hotspur. Stan Kronke is an American citizen, who is ten years younger and worth maybe twice as much, and is the majority owner of Arsenal.” Like that’s going to help you close a 12 point gap!!!!!

    “On the face of the men have little in common from their histories: Kronke is of a Lutheran background, and has three degrees from the University of Missouri. Lewis left school early, had no further or higher education and is of a Jewish background.”
    What does that have to do with anything! What a muppet

  • Jared

    Samuel, I’d mark Laurent Koscielny down as ‘World Class’ before Mustafi. Nothing wrong with Mustafi but Kos is regarded by his peers as a top CB, Lukaku once said that he rated Kos as the player he feared playing against the most. He’s getting on in age but shows no signs of dropping off yet. Probably do need to think about a replacement soon, Holding looks promising but the jury is still out. Chambers was having a good season at ‘Boro before the injury. Krystian Bielik is also said to be playing very well at Birmingham City.

  • Ah Ben…. what is the word for someone who reads an April Fools joke and is quite unable to grasp that it is an April Fools joke. Even though it is published on April Fools Day.

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