Relevant to our discussions on if we should/shouldn't have a sporting director/Director of Football.
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Management Levy / ENIC
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Relevant to our discussions on if we should/shouldn't have a sporting director/Director of Football.
Also, Man City's amount is effectively self-dealing at worst, or blatant cronyism at best. Easier to fake the money than make the money.
I honestly don't know if I could resist rubbing that bald head for luck.
I honestly don't know if I could resist rubbing that bald head for luck.
I was about to remark on the lack of red in that video and our seeming progress breaking through cultural barriers in Asia, then that guy pops out of nowhere at the end wearing that wild red scarf and I almost vomited.
Levy RN
Wow, the amount of gambling companies in that list.
Wow I knew that gaming has really taken off in Malta, but not by that much that they can sponsor three Premier League clubs. Obviously where the money is, as opposed to tourism.
As usual an excellent piece from the Rambler, he is of course relying on the figures reported in 2018 which were the numbers for the 2017/18 season, the latest figures that are available. We didn't start our new contract spree until the 18/19 season, and spent bugger all on transfers and new wages until the 19/20 season, we won't see those comparisons for another two years ... when you also factor in the impact the new stadium will have this season, it's a pretty safe bet that we've closed the gap with the other five and moved further ahead of the rest ...
What was apparent was just how different we are to all other clubs. To the point that he had to exclude us to show the trend both in terms of the clubs outside the top 6, as well as those inside it.
Shows just how massively we've overachieved ... now is the time to catch up, let's hope last summer was just a taste of things to come ....
This jumped out at me as well. The questions is whether or not the newfound revenue (consistently playing in UCL and making it to the knock out rounds, new stadium revenue, and better commercial sales due to improved brand from more success) will translate into higher wages (actual wages plus amortised transfer fees) over the long run. You can see that the growth in revenue from UCL is substantial. Levy can increase both wages and profits.
Need a couple more windows for that to be fully assessed but feel that this will be the tread. It was up 21% a couple of years ago and since then we've given significant new contracts to key players and brought in Ndombele who's reported to be on £200k pa. We will, of course, no doubt lose some wages soon too. It wouldn't surprise me if we sold Aurier, Sissoko both on big wages. Then there are Toby, Vertonghen and Eriksen question marks remaining.
I believe wages from here on out will increase, I fully expect us to still operate differently than other clubs. Despite our increased revenues we are still operating on a totally different level to that of City, Utd, Liverpool, so we can't emulate their model.
Exclusive: Boost for Tottenham as they refinance £400m of debt
The move by the Champions League finalists will ease the pressure on repaying the £637 million they borrowed to build their new stadium...
theathletic.co.uk
Exclusive: Boost for Tottenham as they refinance £400m of debt
By Jack Pitt-Brooke 3h ago 11
Tottenham Hotspur have started to spread the financial burden of their new stadium by refinancing more than £400 million of bank debt.
Spurs borrowed £637 million from Bank of America, Goldman Sachs and HSBC to pay for their £1 billion new stadium that opened in April. That bank facility was initially due to be paid back by April 2022.
But Bank of America has launched a new private placement scheme to turn roughly £400 million of that debt into bonds with staggered maturities ranging between 15 and 30 years. They reached out to institutional investors in the US with a conference call last week.
While this deal will not immediately decrease the level of Tottenham’s net debt, which is approaching £600 million, it will relieve the immediate pressure for Tottenham to pay the money back in less than three years’ time. The move also takes advantage of low interest rates in the US and puts the club’s finances on a stable long-term footing.
This arrangement follows up on a commitment that the club made in the financial update released in October 2018. That statement, which revealed the club had increased its bank facility from £400 million to £637 million, alluded to a re-financing programme this year.
“Working with our Banking Partners and our financial advisor, Rothschild & Co, we shall be converting this development facility, which currently expires in April 2022, into notes with a mixture of debt maturities,” Spurs said last year. “The residual amount of gross debt to be converted or extinguished will depend on a number of factors including several commercial discussions.”
Spurs’ arrangement has been compared to Manchester United’s May 2015 refinancing, when the Red Devils raised $425 million of bonds through a private placement scheme. Private placements are typically available to borrowers of a higher credit quality, and so both Tottenham and Manchester United benefited from having an investment grade rating. That has allowed them to borrow over a longer period of time, and at lower interest rates. In contrast, Italian sides Inter Milan and Roma have recently had to issue high yield bonds instead, with shorter maturities.
Tottenham Hotspur and Bank of America both declined to comment.
Anyone who knows a decent amount about finances knew that this was bound to happen, the stadium is now a tangible asset in operation and the club has now got a match day revenue forecast for the season, never mind the other events (NFL, rugby) that it will be hosting, to show to the creditors.
Yeah, I don't have a great understanding of how this works, but it was reported in numerous places that, once the stadium was fully up and running, the finance would be restructured to more favourable terms for the club.
Good news to hear that it's been sorted.
Also nice to know that nearly 40% of the development has already been paid for
That’s why the club have been in transfer austerity for a decade, this summer was our first significant spend since the 2009 window (Keane pt.2, Defoe pt.2, Chimbonda pt.2, Palacios).