Financial Results - Year End June 30, 2021

[TonySoprano]

Not too worried about the financial intricacies, we're in reasonable shape compared to most clubs.

But Levy says £400M spent on players since 2019. Maybe it is but for that investment we have absolutely fuck all to show for it. Just a load of shit players that have either underachieved or will never achieve. Unless we address the disaster that is our scouting and recruitment we'll always be fucked.

I don't think Paratici can do that on his own, it needs fundamental reform but i don't see it happening. Levy still thinks we have a squad full of talented players when in reality we have about 5 that any top club would want and a load of others nobody will touch with a bargepole.

 

[Airfixx]

Not too worried about the financial intricacies, we're in reasonable shape compared to most clubs.

But Levy says £400M spent on players since 2019. Maybe it is but for that investment we have absolutely fuck all to show for it. Just a load of shit players that have either underachieved or will never achieve. Unless we address the disaster that is our scouting and recruitment we'll always be fucked.

I don't think Paratici can do that on his own, it needs fundamental reform but i don't see it happening. Levy still thinks we have a squad full of talented players when in reality we have about 5 that any top club would want and a load of others nobody will touch with a bargepole.

It was reported this week that Fab is revamping the scouting etc. as we speak.

 

[ArtyB]

This McGuire bloke knows nothing about football finances, The Outsider Airfixx assure me everything is fine and Levy is doing a great job

Strange you should say that, that Maguire bloke did a recent pod where he basically said what a good job ENIC are doing...

 

[Airfixx]

Strange you should say that, that Maguire bloke did a recent pod where he basically said what a good job ENIC are doing...

.....Things not gone so well for you here Zomb .

...Perhaps read shit before gobbing off next time, eh.



Still; good to know that a few of you think that if it wasn't for Levy we'd be in the CL final every year.

 

[scarletjim]

That’s because your cunt boss royally fucked and failed the team and fans

So if our 'cunt boss' had done a good job then we would have been in the CL final every year for infinity and beyond would we? That's impressive, given that no team has managed to be in all previous CL finals...

 

[Airfixx]

Your opinion.

A factually informed one too.

 

[paddy spur]

 

[The Outsider]

Chelsea’s last 3 years have seen a 7% drop in revenue, Spurs are 22% down. Fantastic business Daniel, yeah but Covid

In other news - the billionaire backer puts 247m more into the club to cover losses - any possible connection?

Billionaire Roman Abramovich Still Pumping Money Into Chelsea Despite Losing Love For London

 

[The Outsider]

Chelsea’s last 3 years have seen a 7% drop in revenue, Spurs are 22% down. Fantastic business Daniel, yeah but Covid

Are you a Chelsea accountant? Chavs accounts haven't been released yet, how did you "create" this information? Surely you didn't just make it up

 

[Guido 🇺🇦]

Guido 🇺🇦

For games played with fans in 2019/20, #THFC average attendance of 59,385 was the third highest in England, only below #MUFC 72,726 and #WHUFC 59,925, but just ahead of North London neighbours #AFC 59,254.

Don't West Ham pay threepence happenney for a ticket?

They do! And many thousands of the ST's that were bought up were by non-West Ham fans because they were so cheap (the fee they paid was about the same as a black market ticket they would pay to watch their side for a one-off away game so was a no-brainer)!!

There is also about 10k(???) tickets "given" to the local community (I've guessed this number as I've forgotten the detail so I could be way out +/- but details of it are in the West Ham thread).

So, put all these elements together and the uplift on matchday revenue that West Ham from moving from Upton Park to the Shopping Centre Bowl is approx just £1m-£2m for the entire year!!!

 

[Airfixx]

Not before time,that’s a lot of revamping!!

We need to be scouting the shit out of all 3 lower divisions...... This HG issue is gonna repeatedly rear it's head otherwise.

 

[skywalker68]

Here he is again abusing Spurs fans who want to see us win trophies and call us ‘entitled’. Shameful scenes by paid ENIC accountants who do not understand the THFC history

He is very temperamental always spewing hatred towards anyone who dares to question.
And yet he or she is banging on about self entitlement and yet that post is one of the most self entitled posts I have seen on here truly shocking.

 

[Spursidol]

Our results are pretty strong. Other clubs have lost much more. Levy cant blame low spending on covid.

He can easily get a little bit more debt to cover the £150m lost. Every other club is going to be in the same position.

Tottenham Hotspur sells private placements to repay CCFF loans

Tottenham Hotspur FC has raised a further £250m of US private placements, to pay off Bank of England loans signed during the coronavirus pandemic.

www.globalcapital.com

Already raised an extra £250m in bonds back in May to refinance the government covid loan etc.

Spurs reported a loss of £82m for year ended 30 June 2021, but that includes depreciation and amortisation costs of the same amount - so our 'cash' loss is pretty much a break even, which is really good news. And whilst match day revenues will be down versus pre-covid expectations Spurs will have been profitable on the season so far.

 

[Super Jan Fan]

Don’t think we need to worry about transfer debt. We have the means to pay it from revenue, it us just smart defer payments if you can. It’s very common. Only ours id high because of Ndombele and loCelso both of which were bad purchases/scouting. We will have to swallow the losses on that. As long as we have stopped bad scouting it is not a problem.

 

[Super Jan Fan]

750M paid by Man Utd on interest!!! Hahahahaha

Makes sense if you are the owners. Buy it on debt and just service the interest through the club itself. In the end, sell up and let the new owner pay it off. You never have to pay for the club in any way out your own pocket, it just pays for itself, and you make big profit in the end for no real risk, owning this big brand in the meantime. Not best for the club, obviously.

 

[Super Jan Fan]

Agree but it’s not the done thing in football….. quite funny Utd fans have to take this straight up the ass. 750M buys you better players than Mcguire and Wan Bissaka

It’s awful, I’d hate it to happen to my club.

 

[RomanzoCriminale]

Yeah, it’s all good. Obviously the better you do scouting and youth development, and sell at the right time, the better but it’s never 100% efficient. Your wins cover your losses. Had we sold Dele at his peak for instance that would have turned out to be a great move but it is what it is. It doesn’t matter. Still made a profit of course. Winks when sold will be mostly all profit. Lo Celso a loss. Bergwijn fairly neutral etc.

Both Lo Celso and Bergwyn though won't show as a loss in the accounts. Players are depreciating assets just like if a company buys a laptop over 4 or 5 years.

If Lo Celso cost £40 million his cost will be capitalised and then that will have been written down/amortised over 5 years in the accounts, meaning his value after each year on the club accounts is:

Year 1 - £32 million
Year 2 - £24 million
Year 3 - £16 million
Year 4 - £8 million
Year 5 - £0

Therefore if we sell him after year 3 for £23 million, the club will have £7 million sale profit but will report an annual profit of £23 million (£16 million eoy year 3 amortised value + £7 million sale profit).

So even though we bought higher and sold lower, the accounts will show a profit.

 

[Spursidol]

Thanks for posting, that's quite an invaluable breakdown of the terms. Useful for any argument around our debt with fans of other clubs (and some of the posters on here).

To add to that document there is the press release on a further bond issue of £250m and some snippets out of the y/e 30 June 2021 to give you a complete picture of what is in the public domain.

All extra detail, but headlines remain debt is long term (average repayment date 22 years) and at very low interest rates which would be unobtainable today.

Club announcement - Finance update - CCFF repaid, short-term debt replaced with long-term | Tottenham Hotspur

The Club has completed on an institutional fund raising of £250m, with an average tenure of over 20 years and an average interest rate of circa 2.8%. The debt stack includes a new 30-year tranche, with a bullet repayment in 2051 and is a unique financing for any sports entity with the long-term institutional debt markets.

The funds have been used to repay the £175m CCFF funding from the Bank of England, which was used to address some of the shortfall in income caused by the pandemic and will also partially repay a bank loan held by the Bank of America which had a shorter term, moving it to fixed rate 15-year money, locking in low interest rates and extending the tenure of the debt.


Per Accounts – Earliest tranche to repay is 2029. Average maturity of all debt is 22.3 years. £50m of Merril Lynch £112m Term loan repaid.

 

[r-u-s-x]

Pretty much completely offset by an increase in TV revenues though. We'll see a huge drop off on TV revenues in next year's accounts which will hopefully be offset by a much larger increase in stadium receipts

Revenues will be annualised won't they? TV revenues will remain constant unless I missed a TV deal ending with a big cut?

 

[Blanchflower]

Pretty much completely offset by an increase in TV revenues though. We'll see a huge drop off on TV revenues in next year's accounts which will hopefully be offset by a much larger increase in stadium receipts

It's not offset - the payment was just delayed


They really, really need fans at football matches and other events to commit to spending....