Sugar believes the reluctance of the Lewis family to spend big on Tottenham's squad could be that he is in talks to sell the club.
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Defeat at Manchester United now sees Tottenham sitting in 15th place on the Premier League table.
Posting to X, Sugar stated: “Really can't understand why Joe Lewis, the billionaire, is not throwing money into Tottenham. We hardly dealt in the January window.
“Maybe he has a buyer in mind for the club. @SpursOfficial.”
Beyond the Lewis family, former Tottenham chairman Daniel Levy is fielding offers to sell his minority stake.