Yep
I have no real interest or excitement towards this
Either buy Enic out or fuck off
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Management ENIC
- Thread starter The Fighting Cock
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I have no real interest or excitement towards this
Either buy Enic out or fuck off
Hey, stop pissing on my fireworks
Much as a I hate Levy, I suspect there’s more to that and it’s not as one sided as he’s made it
Wonderful player, but don’t believe a word he says.
Whilst a cash boost would be nice, the bigger issue is the CEO and Chairman
This man is an alcoholic and that condition brings a world of issues.
Or alternatively Josh will be parachuted into Spurs from Tavistock when Daniel decides to retire ?
Well shares can't be created out of thin air, so even if it's issuing new shares it will dilute ENIC's holding.
Agree that that valuation is absurd. Forbes' number is a rough estimate, but they're not going to be wildly inaccurate.
Given than loans now count against our PSR, it'd be pointless to bring in a capital injection of loans which put us to the sword. Zero double the authorities will treat us like Everton rather than City/Chelsea in terms of FFP and make an example of us.
Staying on the good side of PSR means we can inject £105M counted across 3 seasons. We're currently ahead £5M, so could actually bump that to £110M. At the £2.6B valuation, that's about a 4% stake. There's probably some creative accounting that can be done shifting assets with "debt" from THFC's books, including stadium naming rights, other sponsorships, etc. that can get you to a 9% stake for ±£250M that can be funneled directly to the squad.
But there isn't going to be a way to funnel more than that. If they're going to take on a larger share, and the plan is to use their money to fund the squad rather than provide Lewis more liquidity (entirely possible this is the actual goal), then it has to be a structured agreement spread out over the next decade.
Is that £105M correct? If you buy a player for £100M on a five year deal, that impacts only £20M per year no? So you could spend £500M
I don't think a new minority investor coming in by taking a stake of 10% to 15% by creating new shares is a problem for enic/Levy if it puts more money, say £600m or so, into Tottenham Hotspur Limited (which is a holding company for the group).
IMO part of the cash injection would go into property assets (outside PSR as I understand it - but should generate profits which can count as PSR revenues into the football side of things) with the rest (and let say its a 50/50 split) directly into football - probably mainly first team squad - and if we can get that to £250m (as you suggest), I think that's job done, given that if we are in europe we might be generating maybe £150m pa much of which can be invested in squad.
Just one PL title then I will gladly say "In the bleak midwinter"
And yet entirely unshocking
Exactly what I'd expect , I'd be shocked if it was otherwise
Just like Dragon's Den...I can see Levy there with a fat wad of cash weighing it all up?
I just cannot at all see ENIC selling the chunk of the club necessary to generate £600M. That would put the new owner's roughly on par with Levy's, which would honestly shock me.
My interpretation of "minority investors" has always been just that - they want someone who will chip in the extra cash to take them closer to the PSR limit and fund the 10-15% increase in wage:turnover without ENIC having to liquidate funds to inject themselves.
If you wanted to blow it all in one shot, you're given £105 cumulative over 3 years.
You could blow a shed load in 1 season (like Chelsea) but then you're greatly hamstrung each successive year. Or spread over 2 years like Woolwich and you're pinched on year 3. You may end up having to keep players signed who did not live up to expectation on your books because you cannot sell them (which I believe would prevent you from carrying forward any loss on the player) without increasing your PSR loss. The Qataris don't have a league to dump players into, like Chelsea's Saudi bosses do, so this is a very possible issue.
Simplest, most conservative, way to not paint yourself into a corner would be to use other opportunities such as stadium naming rights, and moving "losses" from other assets off the club's books to effectively double the £110M, spread it over the next 3 years and spend an extra £75M.
Levy isn't going to go to the wall though, so you can reel that back to £60M for safety's sake. At least 30% of that has to go to wages to support the increased wage bill created by additional spending. So £40M/year additional spending. Our average net spend has been £90M, so that gives us an average net spend of ±£130M over the next 3 years in exchange for 9% of the club and the naming rights.
Any way you cut it, I find the idea that there's going to be some Chelsea/City-esque explosion in spending. More of a gentle uptick market correction which puts us safely over Villa (destined for bankruptcy at their rate) and Newcastle.
This is very bad business....Gazza would have probably spent a couple of grand at the bar ...
On one hand this is a terrible look for the club. On the other hand I remain surprised by the number of professional footballers who expect to live on the cuff. Tottenham already paid him millions, didn't they? His own fault he twatted it away.
I get that he's hard off now, but it's a bit nonsensical to say the club ought to front tickets for someone who threw away £20M+ and yet still charge a supporter whose earned not a penny but paid in loads over the years.
And the "with all I did for that club" line....as if he done it for charity?