I never defended it
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60 years i have supported the lillywhites i fancy a change fulham or brentford at least you can watch a decent game they sacked the wrong fella they will never do any good with danny levi in charge of the purse strings he is not cautious he is frightened to speculate look at the players he let go every time we play everton who pops up ghfili sigurdson why the f*** did we let him go
How many shares are there in THFC, anyone know? Or what the number was before ENIC delisted it?
I'd call, but apparently the shareholder helpline costs 12p/min.
Some digging says the last shares traded in 2016 at 200p, valuing the company at 426M. So approximately 213M shares? Spurs easily worth 5X now.
So if they were forced to list 50%+1 today trading would open around £10/share?
Not really sure 50%+1 would change a lot, Levy could keep his stake while Lewis liquidated some of his. They'd still be unassailable.
Not at all.
The 50%+1 is designed so the 50%+1 is a syndicated block vote not loads of individual ones. The majority view of the smaller investors goes.
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This year alone he hung onto Mourinho for 3 months too long after he should have gone(Brighton & Chelsea) and it left us in mind numbing limbo.
He then joins an ill thought through superleague. As the only English owner he should have known what the reaction would be. How can he know so little about fans after 20 years?
He follows that with an arrogant, dismissive statement, in no way backing down, just admitting a temporary setback.
Lets not forget classics from other years like 0 transfers for our best manager in 35 years after he asked for a painful rebuild. Or appointing AVB after he failed at Chelsea, or Santini, or Sherwood, or Mourinho. Who honestly thought these managers would work?
Not everything he has done is bad. He is miles better than Sugar, we've improved as a team, training ground and stadium, appointing Redknapp and Poch. However its time to go. I think he has lost touch, still doesnt really understand football or fans and we need new eyes and fresh ideas.
He then joins an ill thought through superleague. As the only English owner he should have known what the reaction would be. How can he know so little about fans after 20 years?
He follows that with an arrogant, dismissive statement, in no way backing down, just admitting a temporary setback.
Lets not forget classics from other years like 0 transfers for our best manager in 35 years after he asked for a painful rebuild. Or appointing AVB after he failed at Chelsea, or Santini, or Sherwood, or Mourinho. Who honestly thought these managers would work?
Not everything he has done is bad. He is miles better than Sugar, we've improved as a team, training ground and stadium, appointing Redknapp and Poch. However its time to go. I think he has lost touch, still doesnt really understand football or fans and we need new eyes and fresh ideas.
I think that works in the German model, because clubs began as membership clubs and then transitioned to commercial properties with traded shares.
It couldn't work the same way in England now, ENIC own Spurs and have spent £1B+ developing its infrastructure. You can't tell them they have to divest 50% of their company to the THST membership for nothing...they're entitled to recoup a fair market price.
So you have a THFC IPO at £10/share. If you only could own a single share, you'd need 200M shareholders. Can't get close. Can't get close even at £10000/share. So you HAVE to allow not only multiple shares, but many multiple shares.
Whats the cap of ownership stake in that 50%+1? 5%? 10%? 20%?
They are basically one of the same....Levy out salvages some, not all, but some self respect this club currently has left...
A measly 1.6billion then.
The idea that fans can buy back top level clubs is ludicrous. I’m afraid that ship has long since sailed.
2 Spurs fans : Lewis and Levy are as good as it gets in this day and age. What might have been a fun investment is now a multi-billion dollar corporation- expect to get fucked.
Just browsing the sc forum and most are defending this crap
We are cursed with levy for the long haul. He looks about 50. So 20 more years I bet.
An example?No need go on the enic posts. They may aswell have levy statues with his cock out on there
They will. We beat Norwich 1st game of next season & there will be a 'will we win the title' thread. & people saying how lucky we are to have ENIC, because don't you remember the canaries beating us in the 90's.... I do!
& they will quickly forget the breakaway league like they did no signings, not backing many managers, wanting to move to west hams stadium, Amazon documentary, the stated reasons they bought us, transfer record, jose appointment, furlough, stadium a year late, no sponsor for it.
Don't worry though, I'll be here everyday to remind everyone
Jesus. Only ever used this forum so take your word for it.
Did someone say enic out?!
:hugoshock:
Rancid.
ENIC didn’t spend 1bn quid.....the vast majority is bank loans borrowed against the club...
This whole myth about how much it would take to buy them out is mind blowing, these two fuckers are out of pocket what it took to buy sugar out of his majority share back in 2001 & his remaining shares in 2007, a combined whopping £57m to Sugar, or in football terms, Mossa Ndombele, and they hovered up the remaining shares in between.....Any new owners would automatically take on the debt (still borrowed against the club) as it’s attached to the club not Laurel & Hardy.....
Or he could simply hire people who actually know a thing about football or two like a director of football. But he is too arrogant for that. He thinks he is all knowing and that is why we have won fuck all with him in charge.
Whether the club has debt or not is irrespective of the matter. The total investment ENIC have contributed is irrespective. You can't devalue the property and force them to sell 50% of the company for 50% of what they paid for it 20 years ago.
You have to buy it at the current valuation of the club. Fair enough you can subtract whatever debt still is attached to the club from that valuation. Still, you're not bringing the value of the club down anywhere near what a "membership" setup will be able to purchase. You'd have to allow multiple shareholding up to 10-20% or more.
And remember, every other club on the pyramid would be listed at the same time. The number of investors each club will attract will then be limited a bit more.
You can't just reverse engineer German 50%+1 without nationalizing football and taking the clubs from their ownership. Which is basically the antithesis of how we do anything else in democratic capitalism, and would absolutely jam up the courts for years.