It’s a non cash expense - so who cares about a massive loss caused by an accounting concept which is to do with when you can expense capital spending for tax purposes - Depreciation has NOTHING to do with how much cash is available to spend so it’s a load of crap when Levy points at losses which include depreciation as the reason there’s no money available for transfers/player wages - it’s a f’in con.
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Management ENIC
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I have had another look at the accounts. On page 34 of the accounts it shows the Stadium was depreciated by £50m but then they had it revalued and the value magically went up by £50m leaving the value of the stadium the same as the previous year.
As to cash flow which I agree is very important on page 23 it shows cash declined from £173m to £78m at a time when they had just received the Season ticket money and were in the middle of a transfer window.
on Page 49 it lists the players bought & sold after the balance sheet date which included Solanke with a net cost of £42m.
They really do not have a load of cash lying around
Their options are
1 More borrowing including buying players on credit. They do a lot of this and I think a big reason why they buy certain players and not others depends on whether they have to pay the whole fee up front or not. You still have to pay the cost of borrowing and I expect that player deferred payments increase the fee overall.
2 ENIC put money in themselves. I read they did make a sum of £100m available previously and on page 46 in the 2023 accounts there is a share capital increase of £100m but but not sure if that is it. I cannot see any more on the horizon
3 They get external Investors which has not happened.
Therefore for things to change we either need to increase our income or someone needs to put money in.
I just don’t get why they are so desperate for us to remain trophy-less & be an average team. Desperate for us not to compete at the top with our biggest rival. Worlds gone mad!
With all due respect are you ever gonna fuck off ?
I was arguing this with many on here back in the no signings summer window years ago. I ended up sarcastically saying how well Chelsea have done despite their huge wage bill. & more recently Pep’s a genius winning all those trophies at city despite the huge wage bill. It’s an annoying way to give an example. But I don’t know how else to get the penny to drop.
Totally ignoring Chelsea & city transforming in to serial winners due to big mobey being spent! Pretending ££ has nothing to do with it.
They also then moan about clubs having unfair advantage with breaking FFP rules. Which I don’t get as spending all that money on players & their wages has no bearing on future success remember! Once again they confuse themselves & their arguments all to line up with ENIC & levy’s thinking. No true opinion of their own at all.
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Well there’s obviously some correlation, we sold a 100m striker and have since gone through two 60m strikers and have seen a precipitous drop in quality
Hopefully Daniel can rally the team for the second leg with stories of when he was put in charge of the pencil sharpener at school .
We can do this , we just need Daniel to inspire us
We can do this , we just need Daniel to inspire us
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He just needs to tell them how everyone got a watch in 2019 for trying
I can only guess that Ange convinced Levy it was a good idea to loan Werner, and to buy Johnson. Levy will very much help himself by hiring a more competent manager next time. Obviously Levy has had very mixed success doing anything himself. Paratici and Lange, even if they haven't been successful with every signing, have generally been a big help for him.
Great post. It's sad to think we are more cash poor than we might realize. I'm personally hoping for a couple big sales this summer to help replenish our balance while we continue our rebuild.
Levy- if you're out there- fucking HIRE US TO HELP YOU!
I see a lot of posts on this forum that suggest this is as low as it can get... personally, I don't think the demise is even close to bottoming out. I am not talking about league position etc... under previous ownership we were a solid 8th - 11th kind of team with the odd flirtation with the bottom five or six. Our status in midtable was built on not trying to be as good as the Sky 4, but being better than 10 or so other teams occupying the lower half of the table. We were experts at that. For me, those teams finishing 8th - 11th were far worse than this team finishing 15th or 16th. You see, back then we started every season knowing we weren't good enough to compete with the Sky 4. We dreamed of a cup run and maybe sneaking into the final UEFA Cup place. For the last decade or so we have been a team who does think we can compete and this is why this season hurts. If this season was recorded back in the mid 90s it would have been par for the course. Maybe the answer is lowering of expectations. We had our golden opportunity, a few times over but failed to take it and now we shuffle off into mid table with our joy being the annual demise of rivals and the odd cup run. Forget about Europe, forget about buying established world beaters, forget about keeping your best players. Back then, this was us and football seemed way more enjoyable than it is now. That will be my outlook on Spurs for the foreseeable future. No more delusions of grandeur.
No mate. Totally disagree.
You're saying we should lower our expectations and accept mediocre players and mediocre performance.
That's exactly what the cunt wants. And it's exactly why the cunt hired a dour, unqualified journeyman like Ange Postecoglou.
We're one of the wealthiest clubs on the planet. Charging the highest ticket prices in Europe, paying the highest boardroom salaries in England and have a rich history of challenging for and winning some of the biggest prizes for the majority of our history pre ENIC
if anything, we need to raise our expectations, raise our standard, and hound the unambitious, property developing bastards out of our club
it isn't really delusions of grandeur though that's the problem, it certainly would be should we still be at the old white hart lane but now we're just being conned and gaslighted into the idea that we are little old Tottenham on the levels of west ham, everton or even Aston villa when in truth we operate in a different dimension financially to most teams in this league
I understand your view but it seems as though Levy has browbeaten you into submission. This is exactly what that bald cunt hopes us fans feel. So we will just 'accept it' and shut up, whilst him and his cunty friends make a ton of money (that isn't invested into the club).
We're Tottenham Hotspur FC - a footballing giant - and we need to remember and hold on to that.
NEVER FORGET THIS:
“ It is better to fail aiming high than to succeed aiming low. At Spurs we set our sights very high, so that even failure will have in it an echo of glory.”
How many of those watches are still working I wonder? Even the best fakes don’t last, I can also imagine they all ended up with a nasty toxic rash on their wrists
I needed that!!! Cheers Goat
I don't think we disagree... the difference is that you still got fight, I haven't anymore... I'm just fed up of not caring about my club. I don't even care if we lose anymore... I feel nothing... this is the first season in 30 years that I haven't bothered watching a bunch of matches... I've always missed the odd one but this year I've missed 10-15...