British billionaire Joe Lewis, the owner of the Tottenham Hotspur soccer club, is facing sentencing in New York after pleading guilty to insider trading and conspiracy charges. Despite facing potential prison time according to sentencing guidelines, prosecutors have acknowledged his age, medical issues, and willingness to come to the U.S. to face the charges, which may result in no prison time for the 87-year-old.

During his plea in January, Lewis admitted to sharing secrets about publicly traded companies in 2019. Prosecutors have stated that his company, Broad Bay Limited, and Lewis will pay $50 million in financial penalties, the largest penalty for insider trading in a decade. They have also highlighted Lewis's status as one of the 500 richest people in the world, with assets including homes in multiple countries, a $250 million yacht, private planes valued at $90 million, and an art collection worth $100 million.

Defense attorneys have emphasized Lewis's declining health and the recommendation from the court's probation office for no prison time, three years of probation, and a $5 million fine. They have also mentioned that if Lewis avoids prison time, he will not be able to return to the U.S. to see his family, who live in the country.

Prosecutors have described Lewis's insider trading as a pattern of misconduct over several years, facilitated by sharing secrets with his girlfriend, personal pilots, employees, and friends. They believe that Lewis's actions were driven by a sense of being above the law due to his wealth and stature. Despite his high bail and assets, Lewis faces the possibility of not serving any time in prison due to his age and health issues.