That's the thing though. For years they didn't pay off the stadium (still haven't). They just paid off the interest as it was so low they didn't think it worthwhile to actually pay off the bulk. What they did do was hoard cash, (think at one point they had as much cash in the bank as the rest of the league combined). This could have been for a couple of reasons that were never made clear. Arsenal were being used as collateral for the la rams building their stadium. Or wenger getting a bonus on player trading (making profits). They had to have cash reserves due to their agreements with the banks to secure the loans. Or a mixture. But they could have paid off the stadium a lot earlier but chose not too.
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Daniel Levy - Chairman
- Thread starter Howard Webb
- Start date
That's the thing though. For years they didn't pay off the stadium (still haven't). They just paid off the interest as it was so low they didn't think it worthwhile to actually pay off the bulk. What they did do was hoard cash, (think at one point they had as much cash in the bank as the rest of the league combined). This could have been for a couple of reasons that were never made clear. Arsenal were being used as collateral for the la rams building their stadium. Or wenger getting a bonus on player trading (making profits). They had to have cash reserves due to their agreements with the banks to secure the loans. Or a mixture. But they could have paid off the stadium a lot earlier but chose not too.
Grays_1890
Chris Jones
Yeh I think alot of history reimagined as always where people want to hold all other clubs as a higher standard and slate Spurs, seems abit trendy. But also away from that did they not have a really bad period of having to lose players like Sanchez and then paying others beyond ridiculous wages so not to have their backs to the wall again which bite them hard. The idea they have done everything well and to a well thought out strategy is a lie until now when in fairness they stuck with a stripped back plan and went for youth and stuck with a manager their fans wanted gone ages ago. Thats the thing, maybe with what Levy mentioned about getting things wrong and their having to be a new a time of reflection and change thats our moment, the problem is the fans have to play their part and if Ange is our version of Arteta and we have a year or two of development then so be it, not sure it will go down well though.
And as for their years of success mentioned earlier, that bulk if not all that generally came during the ownership with Sugar (who did well, so not a dig) but Arsenal were a dot on a horizon then. The fact we finished so many seasons above them and the people now see them and the other bigger clubs as direct rivals on and off the spreadsheet (as mentioned on countless threads today), just goes to show there has been a progression people won't acknowledge but allude to in their own expectations.
I agree with all of that apart from the sugar doing well bit.
People forget what a seismic change the introduction of the PL was.
Utd, Arsenal, Liverpool etc were all on that gravy train when we were not. Chelsea and City have had £Bns spaffed over them by crooked owners.
To currently be mentioned in the same breath as any of those teams, let alone outperform them at times is a tremendous feat.
Grays_1890
Chris Jones
It's the side of the arguments I can't abide. I can absolutely accept the mistakes we have made over the years but having not seen the club come anywhere near a championship challenge since 1987 and having been stood on the terraces for years, seeing us have it handed to us every year by Arsenal, Chelsea, United, Liverpool and Saudi Sportswashing Machine in the the 90s, often by cricket scores, it's not true to say the clubs not moved forward. It was a pipe dream to get a point away at any of those during the early prem years let alone make the CL or being within/above them in full PL campaign. We have fans claiming zero progress whilst claiming being in the CL isn't really a thing (been said on here alot) which I find an interesting take at times.
Que the onslaught of "Trophies" and blaming one man in the boardroom for bottling a raft of finals
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Bedfordspurs
Vinnie Samways
The key is where are they?
In reality they are bound where they were when they went into the stadium
And they are spending money currently they didn’t have last season at least
We will see where they are this season when all other factors come into play that helped them last year (World Cup, No CL, players not okaying internationals, freakishly low injury record)
I suspect they will finish second or third again
metalgear
Luka Modric
Anything is possible now as Dier and Davies are too slow to play a very high defence line. Even Romero is suspect if he keeps on lunging into tackles impulsively.
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NaijaSpurs
Les Ferdinand
Kane no longer wanted to play for us so I do not blame Levy for selling, he got a good deal. We allegedly offered to double his wages but he wanted to leave.
Finney Is Back
Luka Modric
Collateral for the LA Rams stadium?… Really?!?
Also it wasn’t a massive amount of cash reserves they had to hold, I think it was £40m
Finney Is Back
Luka Modric
Problem is that Levy has historically shown he won’t have the same patience that Arsenal had with Artera.
Bedfordspurs
Vinnie Samways
T
It was over £100m to start with and reduced over time
It was staggered how much they needed
It was over £100m to start with and reduced over time
Diamond Lights
Alan Hutton
given Scott Munn seemingly not started his role, should Levy really be out on holiday in US when the season about to start and there's transfer dealings with your star player? could he not have holiday's say June after the season? just seems like really odd timing.
Yes i hate the bald clam but regardless.
Yes i hate the bald clam but regardless.
They don't have internet in Florida?
I'm sure some of our finance people are perfectly capable and authorised to sign off on stuff.
Grays_1890
Chris Jones
Loads of articles of Munn having started behind the scenes already too. Photos of him at friendlies.
The whole world spent 3 years working through zoom calls on deals, do you not think he is involved when needed?
parklane1
Tony Galvin
Who would have guessed.
Glenda's Legs
Paul Walsh
He only went to join his family for the weekend, didn't he?
Grays_1890
Chris Jones
This is something I agree with...I know wow haha. But in all the anti Levy stuff that I've read that alot have been speculation or
lies (not saying you BTW) This is the biggest truth and example of a terrible few years that's probably not been focused on.
The biggest issue I have is that after the last 4/5 years the Kane situation is indicative of the decline, to lose him under the whole situation of him going now or a free next year...its a crying shame. I would have loved those story to end better.
It is a crying shame