Stability is a feature definitely. And teams with volatility have fared a lot worse than teams with stability. Think about Manchester United since they want from stable to volatile. Or Everton (who were a similar size club to us when ENIC took over (I know that’s before your time).
ENIC have overseen sustained, long-term progress. That’s the key to this.
Creating volatility gives you space to dream but it doesn’t lead to long term success. The only teams who have combined volatility with long term success are those who have been rich enough to soak up their expensive failures. That’s not us.
Everton have done exactly what Spurs have done and instead of endorsing your assertion, that ENIC somehow = stability, it actually points to the opposite of that if you look at the evidence.
Everton's real problem is that although they are a big club, with money to spend, they can't compete financially on an equal footing with Liverpool, Manchester City or Manchester United the other three big clubs in the North West of England.
Everton have become the fourth choice club, for ambitious foreign players, in the North West, as the Premier League has progressed and become increasingly the wealthiest and most prosperous football league in the world.
London clubs already have an advantage, over all clubs from the North West and the rest of the country, when it comes to attracting the most ambitious players from abroad, which makes Everton's task even harder. Newcastle's emergence will arguably compound Everton's problems and may explain why they are dropping like a stone.
My point is this. Despite having resources it is Everton's decline in the pecking order of Northern England's biggest football clubs that makes their position difficult in respect of attracting the best players.
Under ENIC Spurs have accepted playing second fiddle to Woolwich and Chelsea, in our own regional pecking order, when it comes to signing the most ambitious players. Spurs are now reduced to battling with West Ham for foreign players who would prefer to live in London. If the player attracts serious interest from either Woolwich or Chelsea then Spurs don't very often complete these deals.
Spurs are third in the pecking order of the 4 biggest London clubs.
Everton are fourth in their pecking order.
That tells me Spurs are one step away from being West Ham; under ENIC's tutelage.
