Sigh. The FA couldn't enact the German model if they wanted to.
I'm not going to explain it again. Just search the site.
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Management Qatar holds Spurs talks
- Thread starter Jimmy D
- Start date
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I'm not going to explain it again. Just search the site.
After 22 years you still believe that enic give a shit about the football?
:contefacepalm:
From what I understand from the limited information that is being provided; ENIC are not looking to sell a controlling stake of the club; but rather looking for external investors to buy a minority stake in the club.
In Sept 2019, the club refinanced its loans to the tune of approx 700m. A further loan of 175m was taken from the BOE to see us through the COVID crisis. My expectation is that we are looking to clear this debt in exchange for a 1/3rd stake in the club.
Over the life time of the loans, the club was looking at approx 300m in interest payers; so clearing the debt would be of significant interest to the club; with the deal cost us an average of £37m-a-year until 2042 to pay off the full amount.
In Sept 2019, the club refinanced its loans to the tune of approx 700m. A further loan of 175m was taken from the BOE to see us through the COVID crisis. My expectation is that we are looking to clear this debt in exchange for a 1/3rd stake in the club.
Over the life time of the loans, the club was looking at approx 300m in interest payers; so clearing the debt would be of significant interest to the club; with the deal cost us an average of £37m-a-year until 2042 to pay off the full amount.
I think this is the case . He’s been surprisingly subdued regarding how we operate, yes he’s make comments but he’s pretty supportive in how we operate
I’m sure he knows all about what’s going on but is waiting to see if the Qatari investment will go towards the squad or not
I Don’t give a shit who owns the club I want to win trophies and be in the champions league not finishing mid table every season which is on the cards once kane goes.
"The Club has committed to provide a response in the coming weeks. The Club says it is ‘very keen’ to address the issues raised but, for commercial reasons, will not be able to do this during the transfer window. In the meantime, the Club’s financial results will be released in February, and there will be a statement from Fabio Paratici on the completion of the transfer window. The Club will respond “in full’ to our questions at that point."
www.thstofficial.com
Something is going on.
THST letter to Club Board update - Tottenham Hotspur Supporters' Club
As part of an ongoing dialogue with Spurs, the THST Board recently sent four questions to the THFC Board which we, a number of Trust members
www.thstofficial.com
Something is going on.
The interest rate is 2.6% on the 600M (not 700M). Why would they rush to pay that off? Doesn’t make any sense
It will be used for players and further infrastructure, and / or taken by ENIC (hopefully more of the former).
Great point.
The man has made ENIC billions and given fans an extra 200 points+ in the PL. invaluable
I don’t believe this is right. The stadium finance is “good debt” - long term and at rates fixed when interest rates were at an all time low. it would be madness to clear this debt. Think about it like having a fixed rate mortgage on your house for the 25 year term. over time your income increases but the monthly repayments remain the same.
There are two ways for QSI to buy a minority interest in THFC. Either ENIC sells part of its circa. 90% shareholding or THFC plc issues new shares to QSI.
Let’s say THFC is worth £3.3bil and QSI buys a 30% shareholding in either model mentioned above.
If ENIC sells 30% of existing holding 90% holding
ENIC receives £1bil
QSI owns 30% of a business worth £3.3bil = £1bil of paper value
ENIC owns circa. 60% of a business worth £3.3bil = £2bil of paper value
Small shareholders own the balance of circa. £300m paper value
if THFC issues 30% of new shares to QSI
ENIC receives nothing
QSI owns 30% of a business worth £3.3bil = £1bil of paper value
ENIC owns circa. 60% of a business worth £3.3bil = £2bil of paper value
Small shareholders own the balance of circa. £300m paper value
THFC receives £1bn to invest in cinemas, apartment blocks and the occasional player
my view
Doing the latter dilutes the shareholding that ENIC holds in THFC without receiving any value. However you could say that injecting £1bil into THFC increases the value of the asset. Theoretically from £3.3bil to £4.3bil but 7nfortunatrly it doesn’t quite work like that.
Given Lewis transferred the 70% shareholding he has in ENIC to his kids at the back end of last year and therefore selling part of the ENIC stake in THFC as part of his personal succession planning is much more likely than trying to get a big cash injection so we can have a wild splurge on the transfer market.
sorry to disappoint. I highly doubt that QSI coming in will be a Santa Claus for our transfer Kitty.
Yup , I’d be surprised if the cash injection would be used to pay off the debt that we have a fixed repayment structure , the yearly repayment of £37m is one, half decent player . I mean if they did it would just prove that ownership of infrastructure is more important than what happens on the pitch .
From our last financial statements, debt is closer to 950m. Recent injection of 150m will NOT be used to finance the debt and will be used for squad investment.
• Short-term debt - Government CCFF (£175m) and BAML (£50m)
• Stadium debt of £706m
• As with past years, no dividend has been paid with all operating profits being reinvested in the Club
ERGO
• Repayments on our DEBT eat into our profits to the tune of 40m per year
• Low profit = less money to spend on squad under FFP rules
• Shareholders are NOT being paid a dividend
Reduce the debt, increase the profit, pay the dividend, put money into squad (not banks pockets).
The CCFF debt is short term debt. That’s government lending to help businesses through Covid. low interest.
As a shareholder in THFC I can confirm I’ve never received a dividend in the ENIC years. I did in the Scholar and Sugar years. Do you want THFC to return money to shareholders? I don’t know what you are arguing here.
The debt was taken on to build the stadium. Without the debt we would have a capacity in our ground of circa. 34k. If we weren’t mid-table already we soon would be!
Agree with the bold bullets, I don’t know the details of the CCFF/BAML but it would be lunacy to repay the 700M.
FFP is simply not a barrier for us
Rich people understand good debt and bad debt. Poor people don’t and scramble to pay their mortgages (may make sense based on latest interest rates to be fair but not at 2.6%). You could invest the 700M elsewhere and get a far greater return than 2.6% to greatly offset the interest
It means before she dies..its Shakespeare
Might go that way but if it does you can kiss goodbye to Conte and Kane.
"The Club has committed to provide a response in the coming weeks. The Club says it is ‘very keen’ to address the issues raised but, for commercial reasons, will not be able to do this during the transfer window. In the meantime, the Club’s financial results will be released in February, and there will be a statement from Fabio Paratici on the completion of the transfer window. The Club will respond “in full’ to our questions at that point."
THST letter to Club Board update - Tottenham Hotspur Supporters' Club
As part of an ongoing dialogue with Spurs, the THST Board recently sent four questions to the THFC Board which we, a number of Trust members
Something is going on.
I wouldn’t worry about the accounts, by the time they come out they’ll be 8 months out of date as to the current financial position of the club. So pretty irrelevant as to what the club is doing today. They will just show a historic position of June last year. Which will show great profits because of the transfer window.
Maybe they want to delay a response to coincide with what is breaking in the news this week and don’t want to give an answer to the Trust that might be different in a months time. Or maybe they just don’t want to tell the Trust anything, which is probably what’s going on.
Infrastructure is ignored for ffp
Explained: What Tottenham Hotspur's £150m capital increase really means for the club
Will Spurs suddenly spend big on players? The Athletic breaks down the key questions arising from the club's announcement on Tuesday...
theathletic.com
Most of their spending over the last decade has been on infrastructure, principally the new training ground and stadium, and that doesn’t count towards a club’s outlay under FFP rules.
For Europe its likely to be income rather than profit based
https://www.football.london/Woolwich-fc/news/uefa-spending-Woolwich-chelsea-tottenham-23471234
Do you know why it takes so long to publish?
I’ve actually been critical off kanes performances of late but I’ve taken a step back and realised how can you be critical of the man he’s carried us for years on his own we would be mid table every season without him .his high standards have dropped recently due being over played injurys etc. but who am I to criticise him .