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Tottenham Hotspur Stadium - Licence To Stand
- Thread starter Jordinho
- Start date
Superhudd
Simon Davies
Re: Northumberland Development Project - Archway Have Appealed
i.e net spend is zero on transfers. Levy lied when he said it wouldn't affect transfer spend. The Bale money helped cover his masterplan to get the stadium done without spending his money yet giving themselves (ENIC) a billion pound asset.
No difference to Glazers.
Fcuk all modern owners. Give clubs back to the fans.
i.e net spend is zero on transfers. Levy lied when he said it wouldn't affect transfer spend. The Bale money helped cover his masterplan to get the stadium done without spending his money yet giving themselves (ENIC) a billion pound asset.
No difference to Glazers.
Fcuk all modern owners. Give clubs back to the fans.
milo
Jack L. Jones
Re: Northumberland Development Project - Archway Have Appealed
I don't believe that the zero net spend on transfers is to fund the stadium. I think that is because it is a sustainable way of running a football club. The stadium will be paid for by the naming rights, loans and possibly an equity issue.
Gutter Boy
Tim Sherwood
Re: Northumberland Development Project - Archway Have Appealed
We're not having to generate money from transfers to pay for the stadium, like Arsenal had to.
The benefit of cyphering off money to TH Properties Ltd over the past 7-8 years is that we aren't going to get lumbered with 10 years of crippling loan repayments afterwards.
And why do you say back to fans? Have fans ever owned a club in this country? If you fancy it, why not start a Pledge site to try and raise the £1b?
We're not having to generate money from transfers to pay for the stadium, like Arsenal had to.
The benefit of cyphering off money to TH Properties Ltd over the past 7-8 years is that we aren't going to get lumbered with 10 years of crippling loan repayments afterwards.
And why do you say back to fans? Have fans ever owned a club in this country? If you fancy it, why not start a Pledge site to try and raise the £1b?
Superhudd
Simon Davies
Re: Northumberland Development Project - Archway Have Appealed
But most importantly you didn't respond to the point that the reason net spend is zero is because the money is being used elsewhere and therefore Levy lied.. or are you saying that it has not affected our transfer policy.
But most importantly you didn't respond to the point that the reason net spend is zero is because the money is being used elsewhere and therefore Levy lied.. or are you saying that it has not affected our transfer policy.
milo
Jack L. Jones
Re: Northumberland Development Project - Archway Have Appealed
Have you got any evidence of the club transferring money to TH Properties? I am only aware of the club transferring land.
Have you got any evidence of the club transferring money to TH Properties? I am only aware of the club transferring land.
K.D.D.D.D.Soc
Ian Walker
Re: Northumberland Development Project - Archway Have Appealed
I must have missed something in the last 60's odd years as I can't remember when this club was ever run for or by the fans!!!
I must have missed something in the last 60's odd years as I can't remember when this club was ever run for or by the fans!!!
Superhudd
Simon Davies
Re: Northumberland Development Project - Archway Have Appealed
they should be owned by fans to stop the cycle of being sold and then paying the cost with the profits.
they should be owned by fans to stop the cycle of being sold and then paying the cost with the profits.
Craig_J
Mido
Re: Northumberland Development Project - Archway Have Appealed
I whole heartedly agree. In Germany there has to be 51% owned by the fans and it certainly hasn't held German football back. There's so many things we can learn from Germany but we seem to say 'No that's not a good idea' and push all evidence away.
German *******s. They have a competitive league, fan ownership, standing areas, get stadiums built 10x faster, can drink beers in the stand, have the best national team in the world, better atmospheres at games, better economy, better food, a better leader, cheaper housing... Ah well least we can say they've never had One Direction, Nick Clegg or Ann Widdecombe.
I whole heartedly agree. In Germany there has to be 51% owned by the fans and it certainly hasn't held German football back. There's so many things we can learn from Germany but we seem to say 'No that's not a good idea' and push all evidence away.
German *******s. They have a competitive league, fan ownership, standing areas, get stadiums built 10x faster, can drink beers in the stand, have the best national team in the world, better atmospheres at games, better economy, better food, a better leader, cheaper housing... Ah well least we can say they've never had One Direction, Nick Clegg or Ann Widdecombe.
milo
Jack L. Jones
Re: Northumberland Development Project - Archway Have Appealed
That hasn't happened in our case though.
Gutter Boy
Tim Sherwood
Re: Northumberland Development Project - Archway Have Appealed
It's in our last financial report that that's the vehicle we are using for the stadium build (presumably for tax purposes). You'd imagine there's got to be money in there to start paying out from it.
It's in our last financial report that that's the vehicle we are using for the stadium build (presumably for tax purposes). You'd imagine there's got to be money in there to start paying out from it.
milo
Jack L. Jones
Re: Northumberland Development Project - Archway Have Appealed
http://m.tottenhamhotspur.com/the-club/investor-relations/annual-reports/
Do you mean the annual report?
http://m.tottenhamhotspur.com/the-club/investor-relations/annual-reports/
Re: Northumberland Development Project - Archway Have Appealed
There's your problem right there.
There's your problem right there.
Gutter Boy
Tim Sherwood
Re: Northumberland Development Project - Archway Have Appealed
Yeah - page 20 of the 2013 one:
"During the year, properties owned by the Group were sold to TH Property Ltd, a company with which the Group is under common control. Cash consideration on disposal was determined at market value and totalled £27,589,000, resulting in a profit on disposal of £5,590,000"
Also mentioned here:
http://www.tottenhamhotspur.com/news/financial-results-shareholder-and-stadium-update-020414/
"As a result, Phase 1 of the NDP and a number of properties to the west of the High Road have been divested, at arm's length, to a Group company, TH Property Limited a subsidiary of ENIC International (‘’ENIC’’), the Company’s principal shareholder."
Yeah - page 20 of the 2013 one:
"During the year, properties owned by the Group were sold to TH Property Ltd, a company with which the Group is under common control. Cash consideration on disposal was determined at market value and totalled £27,589,000, resulting in a profit on disposal of £5,590,000"
Also mentioned here:
http://www.tottenhamhotspur.com/news/financial-results-shareholder-and-stadium-update-020414/
"As a result, Phase 1 of the NDP and a number of properties to the west of the High Road have been divested, at arm's length, to a Group company, TH Property Limited a subsidiary of ENIC International (‘’ENIC’’), the Company’s principal shareholder."
Superhudd
Simon Davies
Re: Northumberland Development Project - Archway Have Appealed
it should be the case. Agree or disagree?
it should be the case. Agree or disagree?
milo
Jack L. Jones
Re: Northumberland Development Project - Archway Have Appealed
They will make a big profit when they sell based on the rising value of the asset but I think that this is very different from using the profits of the club to finance the purchase.
Re: Northumberland Development Project - Archway Have Appealed
The property company is either just a debtor to the club or would have taken cash from ENIC.
There's nothing underhand or strange about this, we just have a football club dealing with football matters and a property club dealing with property matters. The only benefit to ENIC is that they don't have to share any future propoerty value increases with the other shareholders (and neither should they).
Land's been sold to the property company at market value (as it's a related party and there's no way the auditors would have signed off otherwise).
The property company is either just a debtor to the club or would have taken cash from ENIC.
There's nothing underhand or strange about this, we just have a football club dealing with football matters and a property club dealing with property matters. The only benefit to ENIC is that they don't have to share any future propoerty value increases with the other shareholders (and neither should they).
milo
Jack L. Jones
Re: Northumberland Development Project - Archway Have Appealed
I am sure that I read that the club transferred the property because they did not want the debts held against the club.
I am sure that I read that the club transferred the property because they did not want the debts held against the club.
Superhudd
Simon Davies
Re: Northumberland Development Project - Archway Have Appealed
So purchasing land under the clubs name and other shareholders then profiteering from that isn't wrong or just a bit taking the **** out of the club, other shareholders and us the fans .
I say B0llocks
So purchasing land under the clubs name and other shareholders then profiteering from that isn't wrong or just a bit taking the **** out of the club, other shareholders and us the fans .
I say B0llocks
Re: Northumberland Development Project - Archway Have Appealed
Just an added bonus that profits don't go to the other shareholders then!
I guess if you have a fluctuating cash flow (like a football club would) then you wouldn't want large long-term debts influencing the cost of short-term debt.
Just an added bonus that profits don't go to the other shareholders then!