Gutter Boy
Tim Sherwood
He's 86. In terms of pondering exit strategies, that's already don't buy green bananas territory.
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ENIC
- Thread starter mattls
- Start date
He's 86. In terms of pondering exit strategies, that's already don't buy green bananas territory.
Also he handed control over to the trust fund (or whatever it was).
metalgear
Luka Modric
while its true that the owner haven;t taken out cash for themselves, how much investement and risk are they putting into the football side of things?
much is made out of the property development, f&b and events but it remains unclear if these contribute to footballing matters, or are they just stand-alone businesses that improves ENIC's asset value and hence owner equity.
of course each business needs to be self sufficient first and we are still in early days, but it would be great to see some evidence of Enic's strategy to enable Spurs to be competitive - i.e. consistently participating in the top four.
its not about record transfer amounts as much as a competitive budget that keeps us there. of course there is debt and we have some excellent deals there, but if makes us uncompetitive in football, I would rather Enic postponed the cinemas and nfl pitch and focus on using the new stadium revenue to push our football performance to a higher level first.
much is made out of the property development, f&b and events but it remains unclear if these contribute to footballing matters, or are they just stand-alone businesses that improves ENIC's asset value and hence owner equity.
of course each business needs to be self sufficient first and we are still in early days, but it would be great to see some evidence of Enic's strategy to enable Spurs to be competitive - i.e. consistently participating in the top four.
its not about record transfer amounts as much as a competitive budget that keeps us there. of course there is debt and we have some excellent deals there, but if makes us uncompetitive in football, I would rather Enic postponed the cinemas and nfl pitch and focus on using the new stadium revenue to push our football performance to a higher level first.
Bedfordspurs
Mark Falco
The property stuff is self financing
There is a property business attached to the club
So things like the cinema and new pitch just add more income and profit to the club to spend on players
You keep on saying about evidence but you can literally see it on the pitch
Your earlier comment is valid… they haven’t put much in at all. Round numbers, assuming we take all the £150m recent investment it’s about £200m. To own a £3B asset. It’s a phenomenal return when they sell
The ongoing comments about owner investment though are valid but we’re very going to happen with ENIC. Their model is self funding growth which we have seen.
They were never going to put big money in as they don’t have big money. We are their only asset in reality
Yes Joe Lewis could liquidate some other assets to get money to put into the club, but why would he? It wouldn’t make the club more valuable and he would have lost that cash
It’s why I agree we won’t win anything big with ENIC in charge as they can’t fund the next level leap
But they have IMO invested all the money they club gets back into the club
Bedfordspurs
Mark Falco
No he set up a trust and that owns the shares
It’s a tax efficient way to share his stake when he dies
Grays_1890
Chris Jones
Revenues go back into the club, thats why now in the last three windows we have not had to balance the ins and out.
We were paid to include the NFL pitch by the NFL and the NFL gives us extra revenue, makes no sense postponing or not including.
Finney Is Back
Luka Modric
While we were paid a sum by the NFL, it was vastly smaller than the cost of the specialist engineering. However one would assume the investment will pay for itself several times over with the additional events that feature allows.
Grays_1890
Chris Jones
Exactly, it's the vastly over priced F&B at the games and the concerts that will pay back into revenue which will benefit the transfer kitty
I think the food and drinks are reasonably prices, quality is good and it's no pricier than London in general.
Bedfordspurs
Mark Falco
And we get the hire fees
And profit on the F&B
They all go back into the club.
It's a bit late for postponing the nfl pitch, anyway it's not just an nfl pitch, see the world heavyweight boxing fights, the concerts. It generates a lot of income (couple million per event?) and generates as much publicity as well. The publicity is the important thing when a stadium sponsorship is being negotiated.
I do love all these "it's only a couple of million, pay the transfer fee" and "concentrate on the pitch and ignore those commercial events/income", in other words spend more while making less. It beggars belief the lack of cop on with comments like this.
Our interest payments on the stadium are £18m a year. Nfl alone brings in £10m a year.
metalgear
Luka Modric
perhaps the issue is after it goes back to the club, how much goes to football. afterall, its because of football is the reason for why the other businesses are possible.
if most of it is going back into other businesses, then i would say its benefiting the owners more than the club.
it sounds like a corporate M&A tactic that a company is bought for its prized asset so that the investors can leverage it to make money in other areas. the company that was acquired doesn't really grow and the investors cash out eventually after maximizing the investment potential in every possible area.
I hope they maximize the investment potential in every possible area. It means more income and safeguards the future of the club. If the bubble does burst and tv income etc drops a lot of clubs will be in trouble, we won't.
Bishop
John Lacy
Just to play The Devil's Advocate but if the TV bubble were to burst that would likely imply a general collapse of the British economy and all entertainment would probably suffer including the ancillary events that would be held at a stadium like our own such boxing fights, music concerts etc. So I don't think we would be as insulted from the effects as you think we would be.
However I don't think that is likely to happen. The TV money will eventually stop growing (we have already seen this in the past) but for it to totally collapse, it's highly unlikely.
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Bedfordspurs
Mark Falco
How are you relating football TV rights to the UK economy collapsing???
I mean the economy is on its knees already and the money is still being paid
The key for the prem is the overseas market which is where the growth is
Bishop
John Lacy
I'm saying for the TV rights to actually totally collapse you would likely need a catastrophic financial picture for the overall economy. As you say even now with the problems we are experiencing, TV rights for football aren't struggling.
People need their escapism even more in difficult times.
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Gutter Boy
Tim Sherwood
It's more it just goes out of fashion and becomes unpopular. It's already happening - young people don't play the sport (participation has gone off a cliff edge the last 10-15 years) nor do they watch full/live matches (only YouTube/TikTok clips). A big scandal (cough FIFA) could accelerate this massively. In 10 years time football might have to do a T20 type reboot with futsal or something.
Gutter Boy
Tim Sherwood
They went down quite significantly last time from the previous round