Tough one to answer but I don't see a permanent NFL team in London happening for a decade at least. I'd be shocked if it happens sooner than that with getting one all good to go to be the first European based one. It'll all unfold as and when I guess.
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Tough one to answer but I don't see a permanent NFL team in London happening for a decade at least. I'd be shocked if it happens sooner than that with getting one all good to go to be the first European based one. It'll all unfold as and when I guess.
Thats two big performances in a week, we haven’t had two big performances this season
I just read the THST meeting and yes, he did say that but that meeting and his answers has me convinced that ENIC have no intention on chasing trophies whatsoever, some of the other answers (inbetween the bullshit PR responses) make that VERY clear.
Let me show you what I mean.
Ok so first off he was asked what the strategy of the club is going forward to which he replied:
"DL felt It was important to consider the journey as a whole since ENIC took over in 2001. The Club now has the best training facilities and the best stadium in the world and has spent 13 out of the last 14 seasons in European competition.
The Club is run in a sustainable way, for the long term, DL believes the Club has something unique. Two major projects have been completed and more than ever it has the capacity to move to a higher level on the sporting front.
DL said that no Club has a divine right to win a competition or to be in a competition, but stressed THFC are in it to win"
Ok, sounds positive so far and promising, nothing of what he said is inaccurate and he's saying the right things about the future, like we can move to a higher level on the sporting front now and that we are "in it to win" but what follows seems like it's in direct contradiction to that.
So then DL was told that that fans were not judging transfer policy on one or two windows, but over a longer period when it seemed Spurs were unable to do what other clubs did, to which DL said.
"DL responded that Spurs has a net base spend of £200m in the last four years on players but maintained there is little correlation between money spent and winning "
First of all, that "net base spend" is wildly inaccurate, anybody who can do math knows that simply isn't true, at all (if someone cares to prove me otherwise, they can.)
Also his assertion that there is little correlation between money spent and winning, is also, inaccurate, look at the PL champions over the last 10 years, what do they all have in common? (Leicester aside) this is essentially the first sign of Levy saying "we aren't going to change our strategy" and this is why I am pessimistic about them changing their stance, despite what they keep telling us, basically, I think he's bullshitting. Also, he continues to complain about the obsession with high money transfers but is happy to benefit from them?
Anyway, moving on.
He was then asked about wages and transfer policy, specifically why we didn't sign a striker
MC asked why the Club is in a position where we have only one first-team striker
"DL said there are lots of attacking players in the squad. The club was disappointed not to be able to bring in another striker but pleased they were able to bring in another attacking player in the recent window"
I mean, this is pure deflection, he can say "the club was disappointed" but the reality is, he himself signs off on transfers and this is the reason I am skeptical about what they say in regards to ambition, he literally deflects away from us not doing business by simply saying "we got another attacking player" but that wasn't the question asked, the question asked is why do we only have one first-team striker.
He was then asked about how player recruitment works, which for me, is the most telling part of what's going wrong and why we need a DOF if we are to have any success under ENIC.
"DL explained that the process is unchanged. The Chief Scout – Steve Hitchen; the Head Coach - Jose Mourinho; the Chairman – DL; the Head of the Academy - John McDermott (if it concerned a youth player) along with the Head of Football Administration – Rebecca Caplehorn – were involved in the process.
SH and JM would discuss what areas needed strengthening and who might be an option, considering age, salary expectations, nationality, language etc.
The list would be narrowed down and then presented to DL
The list would be put in order and they’d then see what was possible
DL stressed how difficult it was to do a transfer both in and out, especially considering that the liquidity in the market has decreased.
The bolded stands out as a huge issue, simply because Steve Hitchen and (insert manager here) have already clearly communicated which players are viable under our structure, that list is then taken to Levy and HE orders that list and HE "sees what is possible" that is the issue here, Levy is the be all and end all when it comes to who we sign, it isn't what's best for the team, it's what's best for business, we need a football man and someone who knows talent in charge of that decision, that's why a DOF is an absolute must for me going forward.
This next part is why I question people when they claim the stadium means we will get huge investment in the squad now and that's why ENIC deserve more time, because what Levy says next contradicts that completely. When asked about the clubs financial position going forwards he was asked...
Many fans recognise how well the Club is run from a business point of view, but wonder why they are still hearing that Spurs can’t really compete on field.
To which Levy replied...
DL asked whether ‘compete’ meant spend lots of money? He re-emphasised that he doesn’t believe there’s a direct correlation between winning and spending money. It’s about making the right decisions
Funds were ring-fenced for the summer however not qualifying for Champions League would have an impact all round
Now, I ask you, does this sound like a man, or a company, that seems like they are going to go hell and leather to try and secure top talent and win us trophies in the immediate future? He hasn't given Jose targets for the season, such as finish in a CL place but is now also saying if we don't then transfer funds will be impacted?
This right here is the clearest example of him essentially telling people that the plan has NOT changed, it is going to remain as it always has done up until this point because that's the business plan that has left us in a healthy financial position, THAT is the priority, a healthy financial position for ENIC, the priority is NOT taking risks to try and compete at a higher level, which is what huge spending for ENIC is, too much of a risk, it contradicts his "in it to win" comment, he is misleading supporters imo.
Levy is against the idea of spending to win, he keeps reminding us of that in EVERY interview, which is what modern football is, like it or not it DOES have a direct correlation when paired with a good recruitment strategy, that's the key, high money + good recruitment strategy = on field success.
But you do need both, not just "the right decisions" as Levy puts it, you also need to spend on top talent, not speculative lower priced players, this is why I think people are going to be very upset in the summer, the worm is going to turn imo.
The last part on defining success:
MC asked, in the context of a trophyless decade, what success would look like in five years?
"DL said he wanted to win, but also wanted the Club to still be here for future generations – competing in domestic and European competitions at the highest levels"
The but is the keyword in that sentence, just earlier he was saying we are "in it to win" now he's giving us a "but" and that "but" is that ENIC will not break the bank to make sure we WILL win trophies because he "wants the club to be here for future generations" and what he means by that, imo, is that he wants profits to continue for future generations and is more than happy for the club to consider being in domestic and european competitions as a success because that = profits.
We know this to be true because just before he was asked about dividends not being paid to shareholders and the reason behind that is because
"the expectation was that income reinvestment would grow the equity value"
In other words, happy as long as the equity value is growing...right there in black and white, this is why I do not believe they have any intentions whatsoever of chasing trophies and that PROFIT is the main and only motivation.
NorseYid
said it earlier and I thought it was perfectly put, I will repeat what he said here."Money is invested into tangible assets, not football operations. On the contrary, the football ops are financing the asset development, e.g. the real estate projects.
Spurs are being run by investment bankers as an asset company. Not as a football club. The football club is just there to create money to increase the value of the company itself, not the other way around."
This is why people, like me, are worried about the future of this football club under ENIC, the football appears to be secondary to their own financial desires, I don't want this club to become ENIC FC, the entertainment venue, a place where a football club used to be.
Last edited:
Very in-depth post and a lot to go through in it. But I’m out bud. Sorry, just don’t have the energy. Nothing personal to you at all. Hope we all get the shiny baubles we all want in the coming years.I just read the THST meeting and yes, he did say that but that meeting and his answers has me convinced that ENIC have no intention on chasing trophies whatsoever, some of the other answers (inbetween the bullshit PR responses) make that VERY clear.
Let me show you what I mean.
Ok so first off he was asked what the strategy of the club is going forward to which he replied:
"DL felt It was important to consider the journey as a whole since ENIC took over in 2001. The Club now has the best training facilities and the best stadium in the world and has spent 13 out of the last 14 seasons in European competition.
The Club is run in a sustainable way, for the long term, DL believes the Club has something unique. Two major projects have been completed and more than ever it has the capacity to move to a higher level on the sporting front.
DL said that no Club has a divine right to win a competition or to be in a competition, but stressed THFC are in it to win"
Ok, sounds positive so far and promising, nothing of what he said is inaccurate and he's saying the right things about the future, like we can move to a higher level on the sporting front now and that we are "in it to win" but what follows seems like it's in direct contradiction to that.
So then DL was told that that fans were not judging transfer policy on one or two windows, but over a longer period when it seemed Spurs were unable to do what other clubs did, to which DL said.
"DL responded that Spurs has a net base spend of £200m in the last four years on players but maintained there is little correlation between money spent and winning "
First of all, that "net base spend" is wildly inaccurate, anybody who can do math knows that simply isn't true, at all (if someone cares to prove me otherwise, they can.)
Also his assertion that there is little correlation between money spent and winning, is also, inaccurate, look at the PL champions over the last 10 years, what do they all have in common? (Leicester aside) this is essentially the first sign of Levy saying "we aren't going to change our strategy" and this is why I am pessimistic about them changing their stance, despite what they keep telling us, basically, I think he's bullshitting. Also, he continues to complain about the obsession with high money transfers but is happy to benefit from them?
Anyway, moving on.
He was then asked about wages and transfer policy, specifically why we didn't sign a striker
MC asked why the Club is in a position where we have only one first-team striker
"DL said there are lots of attacking players in the squad. The club was disappointed not to be able to bring in another striker but pleased they were able to bring in another attacking player in the recent window"
I mean, this is pure deflection, he can say "the club was disappointed" but the reality is, he himself signs off on transfers and this is the reason I am skeptical about what they say in regards to ambition, he literally deflects away from us not doing business by simply saying "we got another attacking player" but that wasn't the question asked, the question asked is why do we only have one first-team striker.
He was then asked about how player recruitment works, which for me, is the most telling part of what's going wrong and why we need a DOF if we are to have any success under ENIC.
"DL explained that the process is unchanged. The Chief Scout – Steve Hitchen; the Head Coach - Jose Mourinho; the Chairman – DL; the Head of the Academy - John McDermott (if it concerned a youth player) along with the Head of Football Administration – Rebecca Caplehorn – were involved in the process.
SH and JM would discuss what areas needed strengthening and who might be an option, considering age, salary expectations, nationality, language etc.
The list would be narrowed down and then presented to DL
The list would be put in order and they’d then see what was possible
DL stressed how difficult it was to do a transfer both in and out, especially considering that the liquidity in the market has decreased.
The bolded stands out as a huge issue, simply because Steve Hitchen and (insert manager here) have already clearly communicated which players are viable under our structure, that list is then taken to Levy and HE orders that list and HE "sees what is possible" that is the issue here, Levy is the be all and end all when it comes to who we sign, it isn't what's best for the team, it's what's best for business, we need a football man and someone who knows talent in charge of that decision, that's why a DOF is an absolute must for me going forward.
This next part is why I question people when they claim the stadium means we will get huge investment in the squad now and that's why ENIC deserve more time, because what Levy says next contradicts that completely. When asked about the clubs financial position going forwards he was asked...
Many fans recognise how well the Club is run from a business point of view, but wonder why they are still hearing that Spurs can’t really compete on field.
To which Levy replied...
DL asked whether ‘compete’ meant spend lots of money? He re-emphasised that he doesn’t believe there’s a direct correlation between winning and spending money. It’s about making the right decisions
Funds were ring-fenced for the summer however not qualifying for Champions League would have an impact all round
Now, I ask you, does this sound like a man, or a company, that seems like they are going to go hell and leather to try and secure top talent and win us trophies in the immediate future? He hasn't given Jose targets for the season, such as finish in a CL place but is now also saying if we don't then transfer funds will be impacted?
This right here is the clearest example of him essentially telling people that the plan has NOT changed, it is going to remain as it always has done up until this point because that's the business plan that has left us in a healthy financial position, THAT is the priority, a healthy financial position for ENIC, the priority is NOT taking risks to try and compete at a higher level, which is what huge spending for ENIC is, too much of a risk, it contradicts his "in it to win" comment, he is misleading supporters imo.
Levy is against the idea of spending to win, he keeps reminding us of that in EVERY interview, which is what modern football is, like it or not it DOES have a direct correlation when paired with a good recruitment strategy, that's the key, high money + good recruitment strategy = on field success.
But you do need both, not just "the right decisions" as Levy puts it, you also need to spend on top talent, not speculative lower priced players, this is why I think people are going to be very upset in the summer, the worm is going to turn imo.
The last part on defining success:
MC asked, in the context of a trophyless decade, what success would look like in five years?
"DL said he wanted to win, but also wanted the Club to still be here for future generations – competing in domestic and European competitions at the highest levels"
The but is the keyword in that sentence, just earlier he was saying we are "in it to win" now he's giving us a "but" and that "but" is that ENIC will not break the bank to make sure we WILL win trophies because he "wants the club to be here for future generations" and what he means by that, imo, is that he wants profits to continue for future generations and is more than happy for the club to consider being in domestic and european competitions as a success because that = profits.
We know this to be true because just before he was asked about dividends not being paid to shareholders and the reason behind that is because
"the expectation was that income reinvestment would grow the equity value"
In other words, happy as long as the equity value is growing...right there in black and white, this is why I do not believe they have any intentions whatsoever of chasing trophies and that PROFIT is the main and only motivation.
"Money is invested into tangible assets, not football operations. On the contrary, the football ops are financing the asset development, e.g. the real estate projects.
Spurs are being run by investment bankers as an asset company. Not as a football club. The football club is just there to create money to increase the value of the company itself, not the other way around."
This is why people, like me, are worried about the future of this football club under ENIC, the football appears to be secondary to their own financial desires, I don't want this club to become ENIC FC, the entertainment venue, a place where a football club used to be.
Aint gonna be us.
You make it sound like they havd really pushed the boat out these last 2 windows. They have not....One thing at a time. Extra revenue means more spending on the team. It really is that simple, as proved by the last 2 windows.
Scott in "Levy did a great job" shocker.
They have spent less than most of our competitors and still signed players that are cheaper and not good enough !!
Like bergwijn instead of ziyech or simply not signing the clearly brilliant bruno Fernandes...same old shit, you're just used to us spending nothing and now think these last two windows were big spend which they were not.
Summer.
Ndombele - 60m ish
Sessegnon - 25m
Clarke - 10m
January.
Lo celso - 45m
Berwijn - 23m ish
Fuck me even Leicester and other crappy clubs spend this, we are a club in the champions league with this 400m turnover........!!!!
I just read the THST meeting and yes, he did say that but that meeting and his answers has me convinced that ENIC have no intention on chasing trophies whatsoever, some of the other answers (inbetween the bullshit PR responses) make that VERY clear.
Let me show you what I mean.
Ok so first off he was asked what the strategy of the club is going forward to which he replied:
"DL felt It was important to consider the journey as a whole since ENIC took over in 2001. The Club now has the best training facilities and the best stadium in the world and has spent 13 out of the last 14 seasons in European competition.
The Club is run in a sustainable way, for the long term, DL believes the Club has something unique. Two major projects have been completed and more than ever it has the capacity to move to a higher level on the sporting front.
DL said that no Club has a divine right to win a competition or to be in a competition, but stressed THFC are in it to win"
Ok, sounds positive so far and promising, nothing of what he said is inaccurate and he's saying the right things about the future, like we can move to a higher level on the sporting front now and that we are "in it to win" but what follows seems like it's in direct contradiction to that.
So then DL was told that that fans were not judging transfer policy on one or two windows, but over a longer period when it seemed Spurs were unable to do what other clubs did, to which DL said.
"DL responded that Spurs has a net base spend of £200m in the last four years on players but maintained there is little correlation between money spent and winning "
First of all, that "net base spend" is wildly inaccurate, anybody who can do math knows that simply isn't true, at all (if someone cares to prove me otherwise, they can.)
Also his assertion that there is little correlation between money spent and winning, is also, inaccurate, look at the PL champions over the last 10 years, what do they all have in common? (Leicester aside) this is essentially the first sign of Levy saying "we aren't going to change our strategy" and this is why I am pessimistic about them changing their stance, despite what they keep telling us, basically, I think he's bullshitting. Also, he continues to complain about the obsession with high money transfers but is happy to benefit from them?
Anyway, moving on.
He was then asked about wages and transfer policy, specifically why we didn't sign a striker
MC asked why the Club is in a position where we have only one first-team striker
"DL said there are lots of attacking players in the squad. The club was disappointed not to be able to bring in another striker but pleased they were able to bring in another attacking player in the recent window"
I mean, this is pure deflection, he can say "the club was disappointed" but the reality is, he himself signs off on transfers and this is the reason I am skeptical about what they say in regards to ambition, he literally deflects away from us not doing business by simply saying "we got another attacking player" but that wasn't the question asked, the question asked is why do we only have one first-team striker.
He was then asked about how player recruitment works, which for me, is the most telling part of what's going wrong and why we need a DOF if we are to have any success under ENIC.
"DL explained that the process is unchanged. The Chief Scout – Steve Hitchen; the Head Coach - Jose Mourinho; the Chairman – DL; the Head of the Academy - John McDermott (if it concerned a youth player) along with the Head of Football Administration – Rebecca Caplehorn – were involved in the process.
SH and JM would discuss what areas needed strengthening and who might be an option, considering age, salary expectations, nationality, language etc.
The list would be narrowed down and then presented to DL
The list would be put in order and they’d then see what was possible
DL stressed how difficult it was to do a transfer both in and out, especially considering that the liquidity in the market has decreased.
The bolded stands out as a huge issue, simply because Steve Hitchen and (insert manager here) have already clearly communicated which players are viable under our structure, that list is then taken to Levy and HE orders that list and HE "sees what is possible" that is the issue here, Levy is the be all and end all when it comes to who we sign, it isn't what's best for the team, it's what's best for business, we need a football man and someone who knows talent in charge of that decision, that's why a DOF is an absolute must for me going forward.
This next part is why I question people when they claim the stadium means we will get huge investment in the squad now and that's why ENIC deserve more time, because what Levy says next contradicts that completely. When asked about the clubs financial position going forwards he was asked...
Many fans recognise how well the Club is run from a business point of view, but wonder why they are still hearing that Spurs can’t really compete on field.
To which Levy replied...
DL asked whether ‘compete’ meant spend lots of money? He re-emphasised that he doesn’t believe there’s a direct correlation between winning and spending money. It’s about making the right decisions
Funds were ring-fenced for the summer however not qualifying for Champions League would have an impact all round
Now, I ask you, does this sound like a man, or a company, that seems like they are going to go hell and leather to try and secure top talent and win us trophies in the immediate future? He hasn't given Jose targets for the season, such as finish in a CL place but is now also saying if we don't then transfer funds will be impacted?
This right here is the clearest example of him essentially telling people that the plan has NOT changed, it is going to remain as it always has done up until this point because that's the business plan that has left us in a healthy financial position, THAT is the priority, a healthy financial position for ENIC, the priority is NOT taking risks to try and compete at a higher level, which is what huge spending for ENIC is, too much of a risk, it contradicts his "in it to win" comment, he is misleading supporters imo.
Levy is against the idea of spending to win, he keeps reminding us of that in EVERY interview, which is what modern football is, like it or not it DOES have a direct correlation when paired with a good recruitment strategy, that's the key, high money + good recruitment strategy = on field success.
But you do need both, not just "the right decisions" as Levy puts it, you also need to spend on top talent, not speculative lower priced players, this is why I think people are going to be very upset in the summer, the worm is going to turn imo.
The last part on defining success:
MC asked, in the context of a trophyless decade, what success would look like in five years?
"DL said he wanted to win, but also wanted the Club to still be here for future generations – competing in domestic and European competitions at the highest levels"
The but is the keyword in that sentence, just earlier he was saying we are "in it to win" now he's giving us a "but" and that "but" is that ENIC will not break the bank to make sure we WILL win trophies because he "wants the club to be here for future generations" and what he means by that, imo, is that he wants profits to continue for future generations and is more than happy for the club to consider being in domestic and european competitions as a success because that = profits.
We know this to be true because just before he was asked about dividends not being paid to shareholders and the reason behind that is because
"the expectation was that income reinvestment would grow the equity value"
In other words, happy as long as the equity value is growing...right there in black and white, this is why I do not believe they have any intentions whatsoever of chasing trophies and that PROFIT is the main and only motivation.
"Money is invested into tangible assets, not football operations. On the contrary, the football ops are financing the asset development, e.g. the real estate projects.
Spurs are being run by investment bankers as an asset company. Not as a football club. The football club is just there to create money to increase the value of the company itself, not the other way around."
This is why people, like me, are worried about the future of this football club under ENIC, the football appears to be secondary to their own financial desires, I don't want this club to become ENIC FC, the entertainment venue, a place where a football club used to be.
OK, I think this pessimistic view needs some challenge.
"DL felt It was important to consider the journey as a whole since ENIC took over in 2001. The Club now has the best training facilities and the best stadium in the world and has spent 13 out of the last 14 seasons in European competition.
The Club is run in a sustainable way, for the long term, DL believes the Club has something unique. Two major projects have been completed and more than ever it has the capacity to move to a higher level on the sporting front.
DL said that no Club has a divine right to win a competition or to be in a competition, but stressed THFC are in it to win"
Ok, sounds positive so far and promising, nothing of what he said is inaccurate and he's saying the right things about the future, like we can move to a higher level on the sporting front now and that we are "in it to win" but what follows seems like it's in direct contradiction to that.
So then DL was told that that fans were not judging transfer policy on one or two windows, but over a longer period when it seemed Spurs were unable to do what other clubs did, to which DL said.
The trajectory has been nothing but up, bar two or three transition years of Pleat, Sherwood and Mourinho. The facilities too cash and capital, the rationing is over. The man deserves the benefit of doubt to rebuild a squad to compete.
So then DL was told that that fans were not judging transfer policy on one or two windows, but over a longer period when it seemed Spurs were unable to do what other clubs did, to which DL said.
"DL responded that Spurs has a net base spend of £200m in the last four years on players but maintained there is little correlation between money spent and winning "
First of all, that "net base spend" is wildly inaccurate, anybody who can do math knows that simply isn't true, at all (if someone cares to prove me otherwise, they can.)
Also his assertion that there is little correlation between money spent and winning, is also, inaccurate, look at the PL champions over the last 10 years, what do they all have in common? (Leicester aside) this is essentially the first sign of Levy saying "we aren't going to change our strategy" and this is why I am pessimistic about them changing their stance, despite what they keep telling us, basically, I think he's bullshitting. Also, he continues to complain about the obsession with high money transfers but is happy to benefit from them?
You cant compare transfers in the long run because everthing has changed. The club is now much richer than before. And as ENIC have shown in the summer and winter windows, they do spend money. Lo Celso, Ndombele, Sess, Bergwijn and Gedson are testament to this. Unfortunately it will take 4 or 5 windows before we get a team together because the squad needs a complete overhaul.
Strategy - our strategy is the right one. Just because we are the only club that does it. Doesnt mean its wrong. We punch above our weight over the last 10 years because we buy potential and develop it. We will continue buying potential, its just we buy more expensive and better potential. We are the English Borussia Dortmund and I am happy with that approach. Its sensible.
He was then asked about wages and transfer policy, specifically why we didn't sign a striker
MC asked why the Club is in a position where we have only one first-team striker
"DL said there are lots of attacking players in the squad. The club was disappointed not to be able to bring in another striker but pleased they were able to bring in another attacking player in the recent window"
I mean, this is pure deflection, he can say "the club was disappointed" but the reality is, he himself signs off on transfers and this is the reason I am skeptical about what they say in regards to ambition, he literally deflects away from us not doing business by simply saying "we got another attacking player" but that wasn't the question asked, the question asked is why do we only have one first-team striker.
He was then asked about how player recruitment works, which for me, is the most telling part of what's going wrong and why we need a DOF if we are to have any success under ENIC.
"DL explained that the process is unchanged. The Chief Scout – Steve Hitchen; the Head Coach - Jose Mourinho; the Chairman – DL; the Head of the Academy - John McDermott (if it concerned a youth player) along with the Head of Football Administration – Rebecca Caplehorn – were involved in the process.
SH and JM would discuss what areas needed strengthening and who might be an option, considering age, salary expectations, nationality, language etc.
The list would be narrowed down and then presented to DL
The list would be put in order and they’d then see what was possible
DL stressed how difficult it was to do a transfer both in and out, especially considering that the liquidity in the market has decreased.
The bolded stands out as a huge issue, simply because Steve Hitchen and (insert manager here) have already clearly communicated which players are viable under our structure, that list is then taken to Levy and HE orders that list and HE "sees what is possible" that is the issue here, Levy is the be all and end all when it comes to who we sign, it isn't what's best for the team, it's what's best for business, we need a football man and someone who knows talent in charge of that decision, that's why a DOF is an absolute must for me going forward.
This next part is why I question people when they claim the stadium means we will get huge investment in the squad now and that's why ENIC deserve more time, because what Levy says next contradicts that completely. When asked about the clubs financial position going forwards he was asked...
Many fans recognise how well the Club is run from a business point of view, but wonder why they are still hearing that Spurs can’t really compete on field.
I'm happy for DL to vet transfers. I'm happy we have a comittee. Weve bought plenty of talent in the past and Levy was a part of that. We are one of the most successful clubs in England in the transfer market and Levy should take some credit for that. It was a clusterfuck we didnt buy a striker, but on the whole over 15 years we get more right than wrong.
DL asked whether ‘compete’ meant spend lots of money? He re-emphasised that he doesn’t believe there’s a direct correlation between winning and spending money. It’s about making the right decisions
Funds were ring-fenced for the summer however not qualifying for Champions League would have an impact all round
Now, I ask you, does this sound like a man, or a company, that seems like they are going to go hell and leather to try and secure top talent and win us trophies in the immediate future? He hasn't given Jose targets for the season, such as finish in a CL place but is now also saying if we don't then transfer funds will be impacted?
This right here is the clearest example of him essentially telling people that the plan has NOT changed, it is going to remain as it always has done up until this point because that's the business plan that has left us in a healthy financial position, THAT is the priority, a healthy financial position for ENIC, the priority is NOT taking risks to try and compete at a higher level, which is what huge spending for ENIC is, too much of a risk, it contradicts his "in it to win" comment, he is misleading supporters imo.
Levy is against the idea of spending to win, he keeps reminding us of that in EVERY interview, which is what modern football is, like it or not it DOES have a direct correlation when paired with a good recruitment strategy, that's the key, high money + good recruitment strategy = on field success.
But you do need both, not just "the right decisions" as Levy puts it, you also need to spend on top talent, not speculative lower priced players, this is why I think people are going to be very upset in the summer, the worm is going to turn imo.
The last part on defining success:
MC asked, in the context of a trophyless decade, what success would look like in five years?
I think you misunderstand and mis interpret what Levy is saying. Hes saying he wont risk everything for short term success. He would rather build us up slower with better foundations. You cant argue that he hasnt. The club is a million times stronger, more influential and competitive than when he took over.
You just have to accept that football has ups and downs. At the moment Levy is trying to build his 3rd team. We had the modric and bale team, then the dembele and walker team. That has all been consigned to history. Now we have to start from scratch, again. In the future we will have better continuity, because we wont be building a new stadium and training ground as well as trying to build a team. You have to see the wood from the trees. Stop living game to game, and look at the bigger picture.
"DL said he wanted to win, but also wanted the Club to still be here for future generations – competing in domestic and European competitions at the highest levels"
The but is the keyword in that sentence, just earlier he was saying we are "in it to win" now he's giving us a "but" and that "but" is that ENIC will not break the bank to make sure we WILL win trophies because he "wants the club to be here for future generations" and what he means by that, imo, is that he wants profits to continue for future generations and is more than happy for the club to consider being in domestic and european competitions as a success because that = profits.
We know this to be true because just before he was asked about dividends not being paid to shareholders and the reason behind that is because
These comments are just childish. You should be happy he is building for the future.
"the expectation was that income reinvestment would grow the equity value"
In other words, happy as long as the equity value is growing...right there in black and white, this is why I do not believe they have any intentions whatsoever of chasing trophies and that PROFIT is the main and only motivation.
NorseYid
said it earlier and I thought it was perfectly put, I will repeat what he said here.You need to understand business speak. Investment and reinvestment means better players, better stadium and better facilities to allow the club to compete. Successful clubs are worth more money. Its a very negative view you have. The equity value will grow more with a successful team.
Fans just need to be patient and give the guy a chance. He got us to a european cup final. Years of champions league football. And 13/14 years in european competition.
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This cycle was crippled by the stadium. Its that simple. Theres nothing we could do about it.
Theres 150m spend there in 12 months. Thats about as much as we can spend per year. I dont see how you can complain.
Not many clubs in the world can spend that much money.
The club had a 5 year plan for Pochettino when he first took over to get us playing in the Champions League. That was achieved and sustained a good 3-4 years earlier. With a roadmap like that we simply would never have forecasted such revenue streams, such profit margins, our planning wouldn't have been built around the figures we have generated.
We currently have hugely healthy numbers. Take away the unexpected delivery of top 4 sooner than we had hoped and our numbers Profit wise wouldn't look all that.
It wasn't a pop up stadium, we had to be cautious in our financial planning. What people don't realise is that the last few seasons of financial growth has probably secured us a far better loan repayment interest rate andnduration than we would have got. The stadium was a must and whilst other teams can focus their attention completely on the team, simply put we can't and couldn't because of the huge debts that mounted up attached to the clubs name and well being.
The money may not have given us immediate success, but it's definitely given us less time to feel the strain of one of football's largest debts hanging over our heads. We got a far better repayment deal than those lot down the road did, spread across 25-30 years is a beaut of a deal. Without that extra money banked, I doubt the parties loaning us the vast volumes we got from them would have been so accepting of the new time frames agreed.
Success comes in many different forms, being able to balance affordable repayments with keeping a team competitive and able to spend money like seems to be the case is one of them. People just want silverware though and that's understandable but when the real world comes calling you simply have to answer and respect that. It's a unique disadvantage short term that gives us a unique advantage long term, just how it is Posh guy.
Spot on mate. Too many people just the last game as success or failure. You have to look at the structure of the club to make long term predictions. The structure of the club could not be better.
Lack of CL will be a 60m hit to the coffers. But you have to take the positives. It was mentioned in the THST report how hard it is to get rid of players. They just dont want to leave London, a big stadium a nice training ground. The flip side is you have lots of players that want to come. People like Bergwijn that strike'd to join us.
A massive thing for us was securing the 25-30 year bond repayment last year. It was a massive deal struck that really helps us and our ability to manage both player trading and stadium loan repayments all at one. It's probably given us a far brighter future until we are old men than people realize.
What would dent us more? £25m a year for 30 years or £50m for 15 years. Imagine how any club would fare instantly being £50m down regardless of how well on or off the pitch their club had performed.
Most clubs have one baby, the football team. Ours has two, the football team and the infrastructure. Compare out debts to that of Atletico Madrid for example with their new build or West Ham/ Man City with their gifted stadiums and it's clear to see we have to play a different ball game for large parts. That's boring stuff though, most only like the football so don't give a shit about how or why it affects everything that surrounds it.
All some want to do is take the piss about Lady Gaga or Guns N Roses being booked at the new place instead of considering how much it benefits the club and ultimately the football that we will see far sooner because of the facilities that allows for those things to happen. The NFL delivery is a jewel, it cuts out so many potential issues it's unreal but hey, it don't not involve goalposts or a white ball so people don't really give a shit. Face value and all that.
Has it been confirmed that the concerts and events money goes into transfers? I agree with everything you say, but I find that bit hard to believe. Maybe it helps pay off the loan.
THST meeting with the Spurs Board: Report - Tottenham Hotspur Supporters' Club
On the evening of Monday 2 March 2020, representatives of the Trust Board met with representatives of the Spurs Executive
www.thstofficial.com
According to this, non-footballing events are generating income. All profits are ploughed back into the football club so either way it helps our financial obligations which ultimately means more can be used elsewhere.
So there you have it for all the naysayers. Every penny the club earns is re invested.
ENIC benefit as shareholders on the equity value. I cant understand why fans interpret that as we are not ambitious.
2.6 Fan perception of club financial position:
• MC said that many fans recognise how well the Club is run from a business point of view, but wonder why they are still hearing that Spurs can’t really compete on field
• DL asked whether ‘compete’ meant spend lots of money? He re-emphasised that he doesn’t believe there’s a direct correlation between winning and spending money. It’s about making the right decisions
• Funds were ring-fenced for the summer however not qualifying for Champions League would have an impact all round
• KL said that most fans didn’t expect the Club to spend big but there have been several times over the past decade when we seemed to be a couple of players away from greater success and failed to bolster in those areas. Have others been smarter in their recruitment?
• DL commented that external perceptions of transfers can be different to the facts and also to what a manager might wish to do
• MG asked what the sustainable cashflow was. DL replied that was commercially sensitive, but the Club would maximise the money coming in to reinvest
• DMC stated that every penny made was reinvested back into the Club. Dividends were not paid to shareholders
• MG asked about the strategy of ENIC as majority shareholders given the lack of financial return in the form of dividends
• DL responded that the expectation was that income reinvestment would grow the equity value but that there was no intention to sell and that no valuation had been made of the equity value
• Non-footballing events are generating income. All profits are ploughed back into the football club
• KL asked for an example of how those revenues from other events worked
• DMC said a rent is charged for use of the stadium and the Club takes a percentage of food and beverage per event
• MG asked if financial results could be published sooner, to give a better indication of the current position. DMC said there would be a full financial update in March, as usual.
• There is no update on sleeve and stadium sponsorship at this stage
ENIC benefit as shareholders on the equity value. I cant understand why fans interpret that as we are not ambitious.
2.6 Fan perception of club financial position:
• MC said that many fans recognise how well the Club is run from a business point of view, but wonder why they are still hearing that Spurs can’t really compete on field
• DL asked whether ‘compete’ meant spend lots of money? He re-emphasised that he doesn’t believe there’s a direct correlation between winning and spending money. It’s about making the right decisions
• Funds were ring-fenced for the summer however not qualifying for Champions League would have an impact all round
• KL said that most fans didn’t expect the Club to spend big but there have been several times over the past decade when we seemed to be a couple of players away from greater success and failed to bolster in those areas. Have others been smarter in their recruitment?
• DL commented that external perceptions of transfers can be different to the facts and also to what a manager might wish to do
• MG asked what the sustainable cashflow was. DL replied that was commercially sensitive, but the Club would maximise the money coming in to reinvest
• DMC stated that every penny made was reinvested back into the Club. Dividends were not paid to shareholders
• MG asked about the strategy of ENIC as majority shareholders given the lack of financial return in the form of dividends
• DL responded that the expectation was that income reinvestment would grow the equity value but that there was no intention to sell and that no valuation had been made of the equity value
• Non-footballing events are generating income. All profits are ploughed back into the football club
• KL asked for an example of how those revenues from other events worked
• DMC said a rent is charged for use of the stadium and the Club takes a percentage of food and beverage per event
• MG asked if financial results could be published sooner, to give a better indication of the current position. DMC said there would be a full financial update in March, as usual.
• There is no update on sleeve and stadium sponsorship at this stage
Are you sure ? All our competitors spend that and more when needed, and usually on quality that improves them. That is unless you consider our competitors to be west spam etc then yes they don't spend that..we also haven't spent in 2 years so need to catch up a bit, and should have some of that money we didn't spend kicking around in a spare drawer at levys palace....
You can always follow man city?
The problem with that excuse with that the stadium and the training projects have been around since 2008 and the financial commitments is still there.
It’s an easy and convenient excuse which has little merit given that the last side was built in that time. It’s been evident for years now that the quality of our recruitment and scouting hasn’t been m good enough. It’s been evident for years now that there was little forward planning to address this cycle.
As always it about resources - we couldn’t spend ( even though we have and spent massively last summer) when in fact the problem was never that.