Breaking this article everyone links to down a bit.
It should come as no surprise that no club in the history of English football has raked in as much profit as Tottenham have under ENIC. Even less so that no chairman has amassed a personal fortune like Daniel Levy has. They have milked the club dry over the past 22 years, using Tottenham as collateral for external real estate projects, using operating losses to carry over into their various other investment ventures, while diligently insisting that the club are too poor for actual footballing investment in the first team.
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There's one way Enic and Levy get rich off Spurs.
Borrowing for non football purchases and using the value of the club as collateral. Not taking any money out of the club, but using it as back up if the other deals don't pan out.
Be interesting to know how much has been made in this way. Money that'll have absolutely nothing to do with THFC.
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Few players exemplify the ENIC con than Eric Dier. The Englishman was signed in 2014 as a backup RB. He failed there, but was tried by Pochettino as a defensive midfielder. He failed there, as well, and was used only sparingly as a 4th choice CB. Pochettino never fully trusted him, and with good reason. Yet somehow, both Mourinho and Conte have been forced to start him as their lynchpin center back.
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And Ben Davies. And many more. Back ups now being the best we can put out.
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The fallacy lies in thinking that Levy is even trying to compete. This, ultimately, is the greatest con. There is something inherently nefarious about an ownership who hires managers, sets them up to fail, and then fires them at the first sign of trouble. Yet this has all gone largely unnoticed in the public eye, where scrutiny from the general media is almost non-existent. That is perhaps the most troubling part about all this. Mike Ashley was always under pressure. Levy is feted still as some sort of protector of his realm, a tough negotiator, a transfer guru. It beggars belief.
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Been saying it for years. It's cheaper to sack a coach than rebuild the squad. Way cheaper.
Anyone that thinks things will be better without Conte is in lalaland. Bad footballers can't play good football.
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I think the first point I made is the most pertinent. ENIC supporters constantly cite the fact they don't take money out of the club.
But they do use the club as a guarantee in other deals.
What happens if those deals go south?
What incentive is there to ever let go of Spurs, if we can be used as a safety net for them to make a killing elsewhere.
I've called them leeches and succubus' before and I'm now as convinced as ever.