I haven’t done that maths admittedly but if we’re going to fill or close to fill a 60,000+ seater stadium each week with naming rights, increased kit sponsorship, NFL games and so forth, aren’t I correct in assuming our turnover will be significantly higher?
Surely our balance sheet from next season will be significantly better. In fact, many season tickets for the new ground have already sold so our wage threshold should increase relatively.
We’re not going to be poor old Tottenham anymore.
Trying to understand Spurs finances is like going down the rabbit hole. We haven't paid for Hotspur Way yet, which was the subject of a loan deferred from another ENIC company. We owe £400m on the NDP development before building the hotel and housing that are intended to pay for a lot of it. Plus there's potential developments like The Goods Yard and other bits of N17 that the club owns. What ENIC sell, when and for how much could be critical for the club's future.
How does that all shake out? I've no idea. The stadium will be a money making machine, especially when/if we get all of/a share of the ownership of an NFL franchise. However, the next 10 years are there to be navigated. ENIC haven't taken any money out of the club that I know of, preferring to re-invest and increase income, profit and share value. At which point, if Daniel Levy says we can't afford to pay Toby £150k per week but are willing to pay him £110k, I reckon it's because he believes that to be the case.
ENIC could recapitalise by way of a share issue and pay off all the debt but they aren't going to do it. It's probably because borrowing money is still cheap right now, they just don't see it as necessary and unlike a certain former Chairman, they seem to know what they're doing. Unsuccessful, dabbling by Scholar almost destroyed 100 years of our club. It's their money....their call, I guess. It's not like they're making a bad job of things right now, is it?
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