DubaiSpur
Ian Walker
Right so on this particular point then you must agree that prior to the recent period of austerity Levy was doing a good job? Oversaw a consistent upward curve in our fortunes, establishing us as a top 6 club and was reinvesting the clubs money in the team. The 'problems' started when there wasn't surplus cash to fund negative net transfer windows year in year - so going back to the initial topic, with that in mind - why do you think he won't reinvest the money once there is surplus cash again? (Stadium finished/bigger revenue firewood-gatherers)
Do you think in that instance we'd see the club posting high profits at the expense of investing in the team?
We have already seen the club posting profits at the expense of investing in the team, and it's not something Levy is averse to (far from it, imo). The problem arises with the youth team model and Levy's cast iron determination to avoid over extending the club when it comes to chasing players he doesn't see as worth it (because lord forbid, that might mean ENIC actually providing some security for the club using future income to fund the purchase, or funding it themselves): we've seen with Schneiderlin that the most perfunctory effort to get a manager's first choice, followed by a gleeful dash to the 'cheap' option, is something Levy will happily do at any time, to any manager, be it a new one asking for players to implement his vision or an established one asking for those one or two reinforcements to really get stuck into a title challenge.
Now, with a youth team-base recruiting system, the assumption goes from 'the youth team isn't good enough to go straight into the first team' to 'the youth team has players of good enough quality to get into the first team straight away'. The problem with this is that it probably allows for a manager's request for players to be batted away with the new excuse, namely 'the youth team are good enough - use them'.
And I don't trust Levy not to use that excuse at every possible opportunity all the way up to the completion of the stadium, and (this probably is the crux of your question) probably well after its completion as well. And I don't think the fans will trust him with the high profits generated from the sales of our youth team players and their replacement by other youth team players, because that needs a trust between fans and chairman that imo doesn't exist today (a trust that the chairman will spend the profits at the most opportune time to buy who the manager wants).
If you're asking whether Levy will use the stadium funds once it's fully paid off, I don't think he'll be here once it's fully paid off: the whole point of building the stadium is to turn ENIC's relatively small investments into a gigantic profit made off the back of the completion of a financially secure stadium via the sale of the club to somebody else, so ENIC sticking around at that point would hurt their own bottom line to an extent (which possibly gives Joe Lewis far greater chills than anything that happens to us, the club he and Levy own).