Joe’s probably struggling with solid food these days.Joe probably haggling for a couple grand extra for some sandwiches in one of the restaurants ...trying to get a bidding war going ...
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Management ENIC
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As it often does, the truth sits somewhere in the middle of those two extremes.
Why? Can’t they aren’t across to the new owners? Clubs debt not the owners
100%. The main issue was Levy, and he’s gone
He had the clubs and fans interest at heart, but was a poor operator in many areas and held us back and handicapped us (again he did v well in certain areas so middle ground)
That's it, didn't read any more.
If he's connected in any way with NASA, I'm 100% in.
Total fan boy, me.
In no way whatsoever does this sound like the career path of an intelligence agency asset.
But the club's valuation includes that debt, because it isn't tied to the owner. If it was a £20k car, you'd pay for the car and the seller would settle the debt out of that money.
With the club, the asset is worth an amount, then you take debts into account, and that's the purchase cost. Same as how Poundland got sold for £1 in june.
Looks a sensible sort!
It's what we want isn't, someone filthy rich but who doesn't care whether he leaves a penny behind when they're dead?...
Weird reporting isn't it? Presumably £1.2bn is a war chest intended to improve on the squad, so effectively it's only a £3.3bn take over bid. Do they ever include the budget to spend on squad as part of the take over value? Like when citeh, barcodes and chelscum were bought?
Well if you say that. Have you seen the film Indecent Proposal??
Have you got a wife who looks like Demi Moore per chance???
Asking for a friend.
Chelsea they were all talking about £1.5bn investment into the club. Although Chelsea isn’t a good example as it was a fire sale on the cheap to stop the club going into administration driven by the U.K. government.
View: https://x.com/GeorgeSessions/status/1971454999629820317
Perhaps worth explaining that Tottenham Hotspur were once listed on the AIM Market (part of the London Stock Exchange). When Spurs were 'delisted', with 87% eventually ending up owned by ENIC, the regulatory authorities extracted an undertaking that despite no longer being listed, that Spurs would be subject to the UK Takeover Code.
So 87% is owned by ENIC and 13% owned by 'outsiders' - including circa 3.4% owned by Anthony Ashcroft (son of Lord Ashcroft) which is a strategically important holding. The reason I say that is that once the majority shareholder owns more than 90% then Company Law allows the majority to 'squeeze out' (ie sell to the majority shareholder) the minority then less than 10% - worth saying the buy out of minority has to be done on similar terms as majority is sold for (ie same price per share). So any buyer is likely to want to buy both ENIC's shares and Ashcroft's shares.
Back to the way Takeover Code works. Basically if an official bid is made to enic to buy them out, then the takeover code comes into operation which means that bids for the company (Spurs) need to take a certain form and if rejected the bidder needs to decide if its going to continue with further bids or back off - and if they back off need to publicly announce they will not bid for a period of time.
By the sounds of it, NO official bid has been made - there might have been meeting(s ) where bidder said 'how would you feel if we offered £3.3m ?) but there has not been an official bid. But either Lewis family or bidder has leaked to The Sun (better known for Page 3 than financial news) the story.
There is another wrinkle which is that the ENIC company owning the 87% stake in Spurs is a Bahamas registered company. Bahamas do not have a takeover code but a more loose form of supervision for company bids - but could decide to take UK Takeover Panel advice.
Despite Lewis family saying that spurs are not for sale, I'd imagine that for the 'right' bid Lewis family would sell all or a minority stake in Spurs.
So expect a succession of stories of bids ..... until Lewis family decide to either sell or invest ...... and with the Macquarie deal in place (to cover January window likely funds available say £120m), its likely they wil not have any pressure to make a decision until the end of this season, and maybe longer if they put in place other investment.
So this thread may well look like the Transfer thread !
Sure but atm the bid is only paper talk.
Its said that if we want to buy Kane back we need to bid in January. So timing of any bid could be crucial
Yeah turn the £4.5bn into £5bn and you'll probably find all of a sudden we are actually for sale.Joe probably haggling for a couple grand extra for some sandwiches in one of the restaurants ...trying to get a bidding war going ...
It’s weird that the value and timing of the Kane’s clause is now known. I’m not about to make 5 from 2+2 but I find that odd.
Or possibly in this case "Not for sale to you/an unserious bidder".All this means is "not for sale at that price"
This guy seems like a bit of a chancer.
They did in the Chelsea takeover but that's the only one that I can remember. He promised to commit X amount of money to player investment and another amount to the stadium.