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ENIC

Ah okay, you’ve fully understood this ✅ You get that when people put money into a business with shareholders how things work. All good 👍 😊

I get that enic made available £150m a couple of years ago to spurs. If all of it was used their share would increase by a set amount %.
Only £100m was drawn so they got a slightly less increase.
They have now drawn another £100m this increased enics share % by 1.9%. The agreed percentage.

Now in enic we don't know if all of the £100m came from the lewises. Some from levy. Or £50m was drawn.

AS far as we know the percentages of enics ownership between levy trust and lewises trust hasn't changed.

We do not know if levys family trust in enic or spurs has been diluted.
 
Was listening to Stefan Borson on Talksport…I think it was him. Someone mentioned that this might be 100m per year to help us compete in the market and this is the first tranche.

To be honest, that doesn’t make sense to me. Unless the value of the club definitely increases by a bigger multiple than the amount of cash they’re putting in, I don’t see why they’d take the risk.

It may be more conspiratorial but I think there’s something in the idea that Levy was trying to engineer some sort of deal where he could get new investors in and still run the club. The fact that it was open that we were looking for minority investors makes it almost inevitable that takeover style optionally would come up in those conversations. And maybe the Lewis family were fine with it at first, but then did their own calculations and decided they would rather stay involved.

The sudden change still doesn’t make sense to me. As people have pointed out, Levy was only managing their investment. Maybe they were spooked by Saudi Sportswashing Machine. Maybe they thought Levy was under performing. Or maybe they think they stand a better chance of realising a bigger valuation with Levy out of the way? Still fascinates me.
 
Was listening to Stefan Borson on Talksport…I think it was him. Someone mentioned that this might be 100m per year to help us compete in the market and this is the first tranche.

To be honest, that doesn’t make sense to me. Unless the value of the club definitely increases by a bigger multiple than the amount of cash they’re putting in, I don’t see why they’d take the risk.

It may be more conspiratorial but I think there’s something in the idea that Levy was trying to engineer some sort of deal where he could get new investors in and still run the club. The fact that it was open that we were looking for minority investors makes it almost inevitable that takeover style optionally would come up in those conversations. And maybe the Lewis family were fine with it at first, but then did their own calculations and decided they would rather stay involved.

The sudden change still doesn’t make sense to me. As people have pointed out, Levy was only managing their investment. Maybe they were spooked by Saudi Sportswashing Machine. Maybe they thought Levy was under performing. Or maybe they think they stand a better chance of realising a bigger valuation with Levy out of the way? Still fascinates me.
People are still slipping into the thought that we have new owners (fair in some ways given how prominent DL was running the ship) but it's just a change of leadership in reality.

It looks like they didn't see eye to eye or on strategy or something of that ilk.

There is inherent risk to themselves in the action they've taken, as in DL was, by all accounts, a master on the business side.
They should have retained that and still restructured the football side (as they have) and benefitted from both.

As you say, massively interesting to know what's gone on.
 
What is ENICs exact trading name btw? The Athletic said its Bahamas based, but UK Companies House has Enic Group https://find-and-update.company-information.service.gov.uk/company/00164062/officers and Enic Limited listed with the registered address as Lilywhite House.
Think for mere mortals like me and others the ENIC story can get a bit confusing but info on the original purchase of Spurs is openly available.

Just to say that two ENIC companies are still shown on Companies House both registered at Lilywhite House and both have Levy & Collecott shown as active directors, one is ENIC Group 00164062 (original purchaser of Spurs and now shown as a dormant company) the other is ENIC Limited 04558176 neither are current owners of Spurs as far as I am aware.
ENIC Group formerly English National Investment Co. completed the purchase of Spurs from Amshold (Alan Sugar) in 2001, you can find it mentioned in the accounts published on 3rd Dec 2001 , also states that on 28th Feb 2001 Levy changed from non exec chairman of the club to executive chairman.

Somewhere along line the ownership was transferred to ENIC SPORTS INC. (ENIC) who are registered in The Bahamas and to my knowledge nobody has ever delved into their financials.

The transfer of ownership should be shown somewhere in the accounts published by ENIC Group on Companies House , pure guesswork that it is somewhere after 2011 when Levy delisted Spurs from being a publicly quoted company on AIM and the club became private company.

PS Clearly states ultimate owners are ENIC Sports Inc on club website and that is not a company registered at Companies House.

PSS Further info on the path through ENIC, in the accounts published 17th Aug 2007 by ENIC Group is the following.

The directors present their annual report and the audited financial statements for the six months to 31 December 2006 Whilst previous accounts were produced with a year-end of June which is in line with Tottenham Hotspur Football Club plc, following the disposal of this during the period, there is no longer a need to align the year-ends and accounts will now be prepared to 31December annually

PRINCIPAL ACTIVITIES
During the period the company acquired and sold its investment in Tottenham Hotspur Plc to ENIC International Limited to enable settlement of various group debts


ENIC International Ltd is not recorded at Companies House have to assume that is when we ended up with in a Bahamas registered part of ENIC.
 
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People are still slipping into the thought that we have new owners (fair in some ways given how prominent DL was running the ship) but it's just a change of leadership in reality.

It looks like they didn't see eye to eye or on strategy or something of that ilk.

There is inherent risk to themselves in the action they've taken, as in DL was, by all accounts, a master on the business side.
They should have retained that and still restructured the football side (as they have) and benefitted from both.

As you say, massively interesting to know what's gone on.

I still see it as a power shift at the board room level from ENIC to Tavistock. The latter has 21 investments linked here - https://www.tavistock.com/investments/

Obviously, THFC is one of them and we know that they own >70% of ENIC and the club.

It just feels like Tavistock were very happy with the way that ENIC were running the club for a long time. We then got into this post stadium world and they probably felt like we all have in the post Poch years. We saw the intent, but the results were underwhelming. I'm still guessing that Tavistock eventually questioned the way Levy was runnng the show and we now see the Lewis children and Charrington taking a much more prominent role. The latter are all Tavistock people, not ENIC.

It definitely feels to me that the head office have helicoptered themselves into the subsidiary to fix some things. The £100m is part of that package. I also have a feeling that over time they will start to appreciate the tough job Levy had as they get their hands dirty.
 
I still see it as a power shift at the board room level from ENIC to Tavistock. The latter has 21 investments linked here - https://www.tavistock.com/investments/

Obviously, THFC is one of them and we know that they own >70% of ENIC and the club.

It just feels like Tavistock were very happy with the way that ENIC were running the club for a long time. We then got into this post stadium world and they probably felt like we all have in the post Poch years. We saw the intent, but the results were underwhelming. I'm still guessing that Tavistock eventually questioned the way Levy was runnng the show and we now see the Lewis children and Charrington taking a much more prominent role. The latter are all Tavistock people, not ENIC.

It definitely feels to me that the head office have helicoptered themselves into the subsidiary to fix some things. The £100m is part of that package. I also have a feeling that over time they will start to appreciate the tough job Levy had as they get their hands dirty.
Do you buy any of the sentimental stuff....that they're 'Spurs' thru and thru etc etc....and they wanna see 'more wins' ??
 
I rarely watch these things and this one was no exception usual contradictions and rubbish spoken . Nothing to do with ENIC but would just like to know about Steve's medical knowledge , he questioned Muani's dead leg , according to Steve when he was at school when you played football and got a dead leg you just shook your leg about a bit and was back playing in about 10 minutes , if only he went to the training ground and told the medical staff that was the cure.. :):):):):):)
And the school teachers both seem to be high level financial experts on the state of the nation, where do they find these people.

Down my local, it's full of experts on any subject.
 
Anybody think that the mass turn out on the High Rd two days after Europa League win might have made a lasting impression on Viv & Charles, maybe they didn't fully realise what this club means to the fans after such a major long trophy drought, don't do parades after League Cup wins.
 
Anybody think that the mass turn out on the High Rd two days after Europa League win might have made a lasting impression on Viv & Charles, maybe they didn't fully realise what this club means to the fans after such a major long trophy drought, don't do parades after League Cup wins.

I think it's more that their dad's disgrace and dotage is allowing them to grasp the reins a bit more.
 
I think it's more that their dad's disgrace and dotage is allowing them to grasp the reins a bit more.
Maybe, Viv & Charles officially have had control since 5 October 2022 , have to wonder why they have suddenly become very visibile , I like to think the first street parade in over 30 years might have had some effect.

PS That during the parade, tears were streaming down their cheeks and they were thinking we must do better than Daddy :)
 
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Anybody think that the mass turn out on the High Rd two days after Europa League win might have made a lasting impression on Viv & Charles, maybe they didn't fully realise what this club means to the fans after such a major long trophy drought, don't do parades after League Cup wins.
Do you mean the 'lasting impression' of the sheer size of crowd with the potential to monetise? :)
 
Do you buy any of the sentimental stuff....that they're 'Spurs' thru and thru etc etc....and they wanna see 'more wins' ??

I think someone has sold them on some other models. It would not be easy to show the correlation between the process of investment into a football operation, the success on the field and the global growth in that order. They would have had it explained to them in some case studies of our biggest rivals here and other clubs overseas. I bet Pool topped that list in terms of what John Henry and FSG have achieved. I doubt they've dug too deeply into the uglier side like the Randy Lerner experience.

So yes, I do reckon that they believe more wins makes them richer billionaires. That's the mentality,
 
Anybody think that the mass turn out on the High Rd two days after Europa League win might have made a lasting impression on Viv & Charles, maybe they didn't fully realise what this club means to the fans after such a major long trophy drought, don't do parades after League Cup wins.

You definitely joined in on the protest didn’t you?
 
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