We just made record profits - seems like you got the wrong ITK again in Bangkok
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Keep up that was 2018/19 - 2019/20 no fans, no NFL, no stadium income at all ... what do you think the accounts will look like?
That will be 2020/2021.
We had an NFL game October 2019. And we played matches until March 2020........
Errr - the current financial year is yet to conclude so based on the most current results we made record profits. Covid will only reflect on the books next year
As a former Oakland A's fan I can tell you you would not want Billy Beane involved in a team you care about. I stopped watching baseball because of how he ran that team. Then they make some fucking movie about him. He was a complete failure as a player too, was supposed to be a future star... We would sign these amazing prospects, they would come up and look good then they would sell them. Never quite winning anything important but making enough money to continue the cycle. Close a quarter of the stadium down so you can act like you're selling more seats (eliminating the less expensive tickets as well). Then as a fan you get to imagine if you kept all of those players who are now winning championships with other teams. This would be a nightmare I couldn't imagine. Obviously the words Billy Beane trigger me slightly
I actually think it has potential to work better in football as its a far bigger game/market - you can sell players to other leagues and not have them playing against you/strengthen a rival
When our fiscal year accounts for last year were issued we announced our largest ever revenue, bringing in £460.7m total during the 2019 fiscal year. That represents a substantial £80m increase over revenue from 2018 but still did not contain a full season in the new ground.
Our accounting year ends 30th June so in the year just finished you are right to include the NFL game, we will however have lost almost a third of the 2019/20 stadium revenue and possibly be down on revenue by as much as £220m compared with 2019, there are substantial TV payments due which could be booked into 2020 accounts or carried into 2021. Our costs have hardly reduced at all meaning our £172m gross profit would be turned into a £50m gross loss, there are some mitigating factors we will apply to the accounts for debt, depreciation and asset revaluation but it's most probable we will still make a very substantial loss ... full accounts won't be released until next April.
Our financial year ended June 30th - it always does every year - you knew that right?
This website can be as cranky as fuck IMO, my criticism of Levy is acceptable in the real world , even those that don't agree can see where I'm coming from same with Lamela really. I don't mind Sissoko personally but I'd never get that defensive about someone who didn't rate him at all.
Too many virgin fanboys and cranks on here, imagine being so desperate to defend a business man and shield him from any form of criticism, some seriously weird cult like behaviour around Levy on here.
Too many virgin fanboys and cranks on here, imagine being so desperate to defend a business man and shield him from any form of criticism, some seriously weird cult like behaviour around Levy on here.
As a former Oakland A's fan I can tell you you would not want Billy Beane involved in a team you care about. I stopped watching baseball because of how he ran that team. Then they make some fucking movie about him. He was a complete failure as a player too, was supposed to be a future star... We would sign these amazing prospects, they would come up and look good then they would sell them. Never quite winning anything important but making enough money to continue the cycle. Close a quarter of the stadium down so you can act like you're selling more seats (eliminating the less expensive tickets as well). Then as a fan you get to imagine if you kept all of those players who are now winning championships with other teams. This would be a nightmare I couldn't imagine. Obviously the words Billy Beane trigger me slightly
Levy's been following the Billy Beane approach for a while now. It's literally the model his approach is built upon. Comolli was mates with Beane, and that structure of buying young, promising players and selling them for big profits was clearly in place for a long time.
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The reality is next years accounts are likely to look a lot worse......
220 million sounds like bs tbh
The CL final run was a huge boost to the previous years accounts.
Tottenham fiscal year financials show Spurs with fourth largest revenue in Premier League
A deep Champions League run will do that.
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The CL final run was a huge boost to the previous years accounts.
Tottenham fiscal year financials show Spurs with fourth largest revenue in Premier League
A deep Champions League run will do that.
Yeah of course I read it was something in the neighborhood of 85 million at the time bit generous to go to 220 million to save Levy's bacon tho
I think it has to do with TV payments, and obviously match day income, and the fact that some of the income from 2020 will have moved into next years accounts as we closed the books June 30th. The number 220m came from within the club Spurs take out colossal loan as club forecasts €220m losses and were given out when we borrowed money in June.
It's not a bottom line 'loss' it's a loss in revenue ... early estimates say we will make a small net loss, probably far less than many of our rivals. Of course with FFP suspended for 12 months clubs will be allowed to combine 2020 and 2021 accounts into a single year for FFP and use Covid-19 adjustments (as yet undefined) to offset losses. It's why the sugar daddy clubs can spend fortunes now and not worry about it until April 2022 ...
There will be some “interesting” accounting going on. That’s for sure.
Guessing most of our signings/sales were made after the last accounts date. So straight away that will go into the money out section..... probably £100million out net spend?? Not sure how that’s accounted for. Split over the term of the contract??
How two clubs can buy a player from each other for 100m and yet both make 70m profit?
Football clubs are the kings of dodgy accounting ... in the world of football accounting the value of a player is depreciated over their contract, older players are front loaded as their value decreases whilst younger players are back loaded as with luck their value goes up - so how does a 100m swap make both clubs 70m profit,
Let's use Smith at Club A and Jones at Club B
Smith is sold by Club A to Club B for 100m, club A shows income of 100m (but get zero cash it's a swap)
Jones is sold by Club B to Club A for 100m, club B shows income of 100m (but get zero cash it's a swap)
Smith had one year left on his contract for which Club A has a book value of 10m - so 100m in 10m out they show a profit of 90m - they buy Jones for 100m on a five year contract which they assign at 20m a year, so another 20m out leaving a healthy 70m profit.
Jones had one year left on his contract for which Club B has a book value of 10m - so 100m in 10m out they show a profit of 90m - they buy Smith for 100m on a five year contract which they assign at 20m a year so another 20m out leaving them also a healthy 70m profit
They will both have to account 20m a year for the next four years to pay off the value of the contract.
Normal businesses wouldn't do this as it creates a 70m tax liability, However for clubs spending way beyond what they earn this is a neat trick to get around FFP, you will see more and more of these inflated value swap deals, you already have, where clubs are desperate to avoid loses and a breach of FFP rules.
Spurs depreciate contracts over one year less than their length, it means we can sell players relatively cheaply when their contracts run down and still have that cash available for transfers, not to cover off a residual book value. The huge advantage of having home grown players, or indeed players who extend their contracts, is that you are no longer writing down their book value once it's reached zero.
For example Kane has zero book debt whatever we sold him for we could spend, conversely Ndombele probably still has a book debt of 40m so if we sold him now for 45m, then on the books we would only have 5m to spend.
So 6 home games empty plunged us into worst financial results in 20 years? LOL - nice try
They are probably better off that loan has the lowest interest rate possible, so far we've lost less than 10 matches.
No way we can count not getting to a CL final as lost revenue thats just bs, not getting in the CL at all ok acceptable but it will be offset slightly by Europa
If we lose a whole season worth of matches we probably only average 25 home games a year and some tv money can't see that adding up to 220 million , even if each match makes 4 million (which is generous) you still have to acknowledge that out of that 100 million revenue a huge percentage of that can't be translated into profit after vat cost of staging the event etc.