Not in this instance. It's to reduce the need to continue to spend football money on non-footballing activities...which is what I said. Currently, the only income coming into the business has been generated by the football club and that's been the case for 20 years. Apart from a rights issue of £40m some years ago, the football team have generated every penny the club have spent or borrowed. After 20 years and some dreadful recent mismanagement, now, the football team needs investment to justify the ticket prices. ENIC can continue not to do so...and they probably will but the tide is turning with many fans and they would ignore that at their peril....
I appreciate the detail you give on this. I have a similar moral line on the furlough. But I've been in Board discussions where similar mistakes have been made so I'm not going to condemn anyone on that especially given how quickly it was reversed. As for the ESL and appointment of Mourinho, I agree they were both big errors but again I think they were mistakes that most owners would have made. I don't think either were over a moral line though...there has been no automatic relegation from the cricket county championship ever but no-one says that is immoral.
Unless I’m mistaken your career isn’t football-based so it’s likely an inaccurate comparison. We’ve had many players here for 5+ years, in fact there’s probably a good number who’ve been here even longer. In football, that’s a hell of a long time and a majority of those players bar a couple have seen their best days long gone, some haven’t even had a best day because they’ve never been good enough. Two different managers, both in personality and style, over the last two and a half years, have failed to get anything out of them. A third manager is very much likely to do similar if not given the tools to change things. You’re not going to get top four or even top six with players like Aurier, Dier, Sanchez, Toby, Winks, Sissoko, Dele and Lamela regularly featuring. 2-3 years ago you would’ve done thanks to some but whereas in say for instance an office environment, you can have someone work for you for 20+ years and operate at a similar level for say circa 15-18 of those years, you can’t do that in football. So your theory that these footballers just need a bit of loving or motivation doesn’t apply here when skill, fitness and/ or talent fades with time in a much shorter career span. Change is needed at this football club and for that change to begin we need a new manager to work with our new DoF efficiently enough to bring new talent and bin off the deadwood. We also need our chairman to ensure both the DoF and manager are sufficiently backed. It’s a massive summer window for this football club and thus far we’re seemingly starting it off extremely poorly. If we persist on the trajectory we’re going, good luck enjoying heated derbies against Crystal Palace when they become our main competitive rival.
Surely the model is that the football club borrows to invest and then reaps the benefits? The money spent on the team is quite close to the maximum allowed under ffp as far as I can see.
I agree that we need to strengthen but I don't agree that we need a new manager before we do that. I don't know of any enterprise where recruitment and coaching would be given to the same specialist manager and I think it's a huge mistake to think that football should be different.
The club is choosing to invest football income in long term non-football activities. They may or may not be successful....like massively increasing the cost of the stadium build to accommodate an NFL franchise. If the club don't get that franchise it will take decades to recoup that money from 2 games a year. This is where Irving Scholar went wrong and now, ENIC are waaaaay off course for the owners of a football club. The fans of that club are going to let them know it...and rightly so.
Recruitment and coaching isn’t given to the same specialist manager but they go hand in hand in working with one another. The person in charge of recruitment needs to be on the same wavelength as the person in charge of the coaching otherwise it fails. Therefore, whilst having a new DoF on board will hopefully lead to good things, he needs a manager he can work with in which both can then begin rebuilding this Tottenham team. Liverpool enjoyed some fantastic years recently because Edwards and Klopp worked superbly together. Monchi has worked well with most of the Sevilla managers. Likewise Zorc and the Dortmund ones. If Paratici just starts buying players now before a manager is hired and then whoever the new manager is can’t work with those new signings - frankly we’re ****ed.
But some fans think the extra money spent will be worth it because although there is more debt now, there will eventually be more income because the club in general will be richer and that’s when the club and having the nfl and concerts and extra buildings etc will benefit the football team.
Serious question here (and i know there will be some that can answer it), if you do get an NFL Franchise who will "own" it ENIC or THFC?
I don’t know, you would hope it’s all linked to the club so if someone came in and bought Spurs then they would own the stadium and franchise too etc
...and if ENIC spend that money on purchasing more land or on the £1 billion needed for an NFL franchise? In 20 years there's been absolutely nothing to indicate that they'll spend it on players' wages, which has long been our problem. Personally, I've had enough of the intimated possibility of some 'jam tomorrow' and I no longer believe it. Either they put some money into the football team or they need to **** off...
It's a bloody good question..... ....even if it's THFC. The club would have to borrow £1 billion and hope that it's a success and the franchise doesn't get moved to Iowa in a decade or so. It's a huge investment with a significant degree of long-term risk and a lot of short-term pain. What's good for Joe Lewis and ENIC isn't necessarily good for THFC, which carries the risk and debt.
I reckon the retractable pitch added about 200m to the debt which means capital costs and interest it costs about 15m a year. Two NFL games, two rugby matches, two boxing matches and 4 or 5 concerts will easily cover that. So it adds cash to spend on the team.
It isn't just cricket. Most professional sports world wide don't have relegation and promotion. Try telling an American schoolkid that their NFL or baseball heroes are not involved in a proper sport because of that.
How much do you rent the stadium out for? Surely ticket sales and catering etc go to the event in question as the security and marshalling will be paid for by them (at least that's how it works at other venues).
I'm reckoning that £200m is £100m light and that's going to take about a decade of non-sporting income to pay off and then....ENIC aren't going to spend it on football. They'll spend it on more capital assets. There is no tomorrow where we get the jam. That's their legacy.
I don't know the number obviously but the ticket revenue for the bigger events is upwards of 10m so I'd be amazed of we didn’t get at least 2.5m