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Management ENIC

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ENIC In or ENIC Out

  • Total voters
    208
TonySoprano said:
That’s great if the money is used to fund the football club. They can have a Beyoncé or Jay Z concert every night for all I care.

But I don’t think that money does go back into funding team building, at least not all of it.
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I read the club's financial results that were published this spring but from what I can gather it doesn't state what the events revenue was spent on. That element was lumped in with the Commercial and Other income total. There's a mention of the players that were signed from the summer 2023 to summer 2024 but I don't think the club are obliged to state if the stadium events revenue was used on any of those signings, or for anything in particular.
 
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AberdeenYid said:
Nevertheless, the hotel build isn’t what’s stopping us spending more on fees or salaries.
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Not stopping us, but part of the canard of the protestations about ENIC not "taking money out of the club" is that they never run out of capital expenditures they can spend lavishly on to boost the value of their shares, while always remaining ideologically committed to the idea that industry standard player spending is wasteful and unnecessary.
 
FightingIllini said:
Not stopping us, but part of the canard of the protestations about ENIC not "taking money out of the club" is that they never run out of capital expenditures they can spend lavishly on to boost the value of their shares, while always remaining ideologically committed to the idea that industry standard player spending is wasteful and unnecessary.
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Does anyone know how the capex is being funded? Does anyone know where the revenue from these goes when complete? I’d suggest nobody on here has the first clue.

All I know is that ENIC have always been trying to survive and thrive on what money we can make. Self sufficiency has always been the strategy. Do these expenditures for part of that plan? Again, nobody on here has a clue.
 
Tottenham Massive said:
And before people with their heads in the stand start telling us it is being invested into the team / player wages etc....How come all these other clubs with no such revenue are investing more in their teams than us 🤷‍♂️
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The other owners have more money outside of their club ownership and put money in the club. ENIC’s main investment is the club’s shares and their input has been much less. That is why they need to sell 5o someone who can, not only buy the club but also invest money.
However we are spending more than many of the teams that ended higher than us in the league. Just hope we do not get an owner with shares in other clubs like Palace who are at risk of being chucked out of Europe.
 
FightingIllini said:
That was true for many years, but with Lewis' shares now held in trust it's now the trustee(s), acting as a fiduciary of the trust's beneficiaries, who have that operational control.

You would not generally associate that kind of situation with dramatic upheaval of management at a business like Spurs, leaving a longtime steward like Levy who's done well by the asset value for decades at the helm would seem like prudent trusteeship even if it's not ruthless sporting competitiveness.

And of course even though the trust *technically* takes control of the club out of Lewis' hands, no one is pretending this is anything other than a vampire oligarch's tax evasion scheme, and the people who administer these trusts know not to bite the hand that feeds them.

That's a lot of throat clearing to get to the point: I think it's now the trustee(s) or their relevant board representation with the power to fire Levy, as opposed to Lewis himself as when he was the majority shareholder.

But still, I assume all of this is about selling a minority share to generate some funds.
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It's not an irrevocable trust - I don't know where that idea comes from, it has never been reported as such. The shares are in a trust for tax and planning purposes, that doesn't wrest control of those shares from the person who put them in the trust. There will be a trustee or board, but they, also, served at the discretion of the grantor (Lewis) and can be removed and replaced. Lewis will also maintain the ability to shutter the trust and recover his shares.

Seriously - there's been way too much discussion of the trust as though its an operational change rather than simply a tax dodge. The man lives on a yacht in the Caribbean to avoid taxes...he didn't put his shares in a trust for any other reason.
 
AberdeenYid said:
Self sufficiency has always been the strategy.
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And self-sufficiency is, always has been and always will be a euphemism for more being taken from the fans in the form of ticket prices and other merchandise with less being returned to them in the form of resources on the pitch than any other club on planet earth.

Club financials come and club financials go and every single time without fail no other club has a wages to turnover ratio lower than ours.

Every penny of that "self sufficiency" goes into ENIC's pocket the moment they sell.

MemphisWill said:
It's not an irrevocable trust - I don't know where that idea comes from, it has never been reported as such.
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Extensive reporting, and the club itself publicly, stated that Joe Lewis is no longer a "person of significant control" over the club

"A PSC is defined as someone who "has the right to exercise significant influence or control over the activities of a trust, and the trustees of that trust, hold, directly or indirectly, more than 50% but less than 75% of the shares in the company"."

www.standard.co.uk

Billionaire owner Joe Lewis ceases ‘significant control’ of Tottenham

Billionaire Joe Lewis has ceased to be “a person with significant control” of Tottenham Hotspur following what the club has described as a "reorganisation of the Lewis Family Trusts", which hold the shares in Spurs.
www.standard.co.uk www.standard.co.uk
 
McCOYS said:
Apparently they've been making £55m per off season for the stadium events, ( I read that in a Goldman Sachs report). I've also read online that there is going to be more events because Haringey Council had capped tthe events at 16 but now the club have obtained a licence to have 30 events. So the £55m will be about doubled.

Whether that revenue is spent on players I don't know.
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:levyhands:
 
McCOYS said:
Apparently they've been making £55m per off season for the stadium events, ( I read that in a Goldman Sachs report). I've also read online that there is going to be more events because Haringey Council had capped tthe events at 16 but now the club have obtained a licence to have 30 events. So the £55m will be about doubled.

Whether that revenue is spent on players I don't know.
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:levylol:

 
Only way we’re going to find out if he’s staying is tweet from Ornstein really. The club aren’t going to tweet that he’s staying on, he’s already contracted to 2027.

If he goes then obviously that’ll come from the club, but I’d have thought there would be a lot more noise from the likes of Romano if he was going.
 
For those interested. Having just been on the train from Liverpool Street via Northumberland Park tonight I am very grateful for what Levy and co have bought to Tottenham.

Usually its litter, depressing looking dodgy folks and frankly horrible grey streets.

Tonight hundred of great looking ladies in cow girl hats, boots and short skits ( and I am sure some fine looking chaps too before someone suggests I am not a modern thinking inclusive type ).

Thank you Daniel. Thank 🙏 you. Never has the £14 return journey been of such value.

Rock on Beyoncé
 
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They are awful. So obvious they’re setting us up for a horrendously cheap and unambitious summer and as usual they’re unbelievably indecisive in the market and at finding a new coach.
 
Deuterz said:
They are awful. So obvious they’re setting us up for a horrendously cheap and unambitious summer and as usual they’re unbelievably indecisive in the market and at finding a new coach.
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They aren’t awful. Awful is Ashley, outright incompetence - they aren’t clueless, they’ve intentionally chosen this strategy. They are deceitful bastards though, enough is enough… you’ve made billions, liquidate it and free us
 
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