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Daniel Levy - Chairman

Danishfurniturelover said:
On what basis should the be a fine or points deduction?

We signed up for an invitational competition.

Do we now have to ask permission before we arrange pre season friendlies because we get more money then other clubs as we are more popular.

Did not agree with the project and if it had gone ahead then the Premier league would have been within their rights to chuck us out. But it did not go ahead.

I want to fcuk Pritti and Priya off of babestation but the wife can't divorce me for cheating till I do it. For that we have to wait for ripple to rise in price.
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I *think* (but could be wrong) that you need permission from the PL (or perhaps the FA) to play in a non UEFA/FA sanctioned tournament. Re: pre season friendlies, I suspect there is a rule that they cannot overlap with the league and any UEFA/FIFA international tournaments.

She could divorce you for unreasonable behaviour if you kept going on about wanting to fcuk them (I’m aware I could’ve left that sentence alone after 7 words :D)
 
Finney Is Back said:
Indeed, that is unfortunately the case. I wonder what sort of transfer budget we’ll have this summer with various ‘exceptional items’ in the accounts?
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From what I've read/heard it's about 8m max right?

I doubt it will make that much difference when you consider what we are losing in gate receipts each week.

The 300m we could have had from the ESL though, that could have been game changing, even Hitchens would have found a good player with that.
 
Finney Is Back said:
I *think* (but could be wrong) that you need permission from the PL (or perhaps the FA) to play in a non UEFA/FA sanctioned tournament. Re: pre season friendlies, I suspect there is a rule that they cannot overlap with the league and any UEFA/FIFA international tournaments.

She could divorce you for unreasonable behaviour if you kept going on about wanting to fcuk them (I’m aware I could’ve left that sentence alone after 7 words :D)
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If it had happened the PL would have given permission, anything else would have been massively against their own interests.
 
Baleforce said:
... and if it wasn't, would that not be the type of cheating that City/Chelsea are accused of?
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Actually our owners could inject quite a sizeable portion of capital into Spurs and not even have to hide it. We are in a very small group of clubs who are in significant credit in terms of FFP. Just a small dilution of the HUGE profit that ENIC have made from our club could put us in a real position of strength for years to come.
 
StephenH said:
And rightly so?

When financial realty’s are taken into account and covid, he is doing a belting job!
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Something quite interesting is that we had no debt when ENIC took over and now have over £800million’s worth of it. Should the stadium really have even cost that much?
 
Finney Is Back said:
Actually our owners could inject quite a sizeable portion of capital into Spurs and not even have to hide it. We are in a very small group of clubs who are in significant credit in terms of FFP. Just a small dilution of the HUGE profit that ENIC have made from our club could put us in a real position of strength for years to come.
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You make it sound like free money, what are the downsides?
 
treepits said:
Where should the club be in your opinion? As you say yourself, we have progressed under ENIC and we were one decent performance away from being CL winners, or is that one of the circumstantial parts to which you were referring? Be careful what you wish for
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I think we were instead ‘a few decent signings’ from winning the CL.... the galling thing is that two of those signings helped Liverpool win that CL instead of us. I do give Levy lots of credit in appointing Pochettino, as we would be properly financially screwed right now had we not had his 4 CLs in a row, though even then we were lucky that we didn’t get our first choice.

Levy has made some big mistakes in the past few years....

Not getting a stadium deal while our stock was high (probably cost the club £50m+).
Not backing a brilliant manager (with buys and sales) and then sacking him after finally actually giving him a reasonable net spend in a transfer window and before the manager could actually use any of the players.
Not listening to that brilliant manager who said we needed a painful rebuild
Expensive sackings of two managers in quick succession
Failed attempt at creating the ESL and whatever that ends up costing us.

The only crumbs of comfort here are that things might get a bit toxic in the stadium for Daniel assuming we’re back in there watching next season. Self preservation may see Daniel loosen the purse strings perhaps?.... though I’d assume only through further debt for the club as opposed to a capital injection, and I do question just how much debt a club can carry? (I think ours is biggest in whole of Europe).
 
Baleforce said:
From what I've read/heard it's about 8m max right?

I doubt it will make that much difference when you consider what we are losing in gate receipts each week.

The 300m we could have had from the ESL though, that could have been game changing, even Hitchens would have found a good player with that.
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Somebody (sorry can’t remember who) on here said £8m set up costs. I’ve no idea if true. I would imagine there would be some reasonably high penalties from JPM on the £3billion of funds they had put forward.... Banks don’t tend to like reserving large amounts of capital that doesn’t get used.

And let’s not go too high in our opinion of Hitchens :D
 
Finney Is Back said:
Something quite interesting is that we had no debt when ENIC took over and now have over £800million’s worth of it. Should the stadium really have even cost that much?
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About 15% of that debt is due to the pandemic. Whether the cost of the stadium is worth it or not is quiet simple, is the extra income from the stadium greater than the repayments.
The answer to that is yes, so the cost of the stadium isn't a problem.
 
Baleforce said:
You make it sound like free money, what are the downsides?
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For Spurs.... none.

For ENIC, their paper profit on Spurs might reduce from about £1.5 billion to £1.3 billion (though getting us back into CL and perhaps winning a big trophy might even see the value of the club rise?)
 
Finney Is Back said:
Somebody (sorry can’t remember who) on here said £8m set up costs. I’ve no idea if true. I would imagine there would be some reasonably high pelanties from JPM on the £3billion of funds they had put forward.... Banks don’t tend to like reserving large amounts of capital that doesn’t get used.

And let’s not go too high in our opinion of Hitchens :D
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We have no idea about the legal set up of the league, whether JPM was going to be a big shareholder etc so any speculation is... well, pure speculation
 
Finney Is Back said:
For Spurs.... none.

For ENIC, their paper profit on Spurs might reduce from about £1.5 billion to £1.3 billion (though getting us back into CL and perhaps winning a big trophy might even see the value of the club rise?)
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You can’t separate Spurs and ENIC, Spurs are ENIC, if it hurts one it hurts both.
 
DubSpur said:
We have no idea about the legal set up of the league, whether JPM was going to be a big shareholder etc so any speculation is... well, pure speculation
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We (may) well end up seeing in our accounts, though I think it will be well hidden. There will be penalty clauses from JPM, that’s how Banks work. I’m playing golf tomorrow morning with one of my old investment banker buddies so I’ll ask him what would be typical here.
 
Baleforce said:
You can’t separate Spurs and ENIC, Spurs are ENIC, if it hurts one it hurts both.
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That’s not true.... if ENIC diluted their holding by (say 20%) to have funds injected to Spurs by an investor it would do the very opposite of hurting Spurs. The inheritance for Daniel and Joe’s children may reduce a little however.
 
parklane1 said:
Indeed, but he will use it to have just another dig at ENIC/Levy.
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I’ve actually said already on here that if it costs us nothing then no harm done, so that’s not true at all.

Hopefully it will become transparent in the future in our accounts or, more likely, we’ll find out from one of the other 5 English clubs.

I think it should be transparent to the fans of the club how much of our budget has been utilised on this failed venture.
 
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