They're really not. They're saying that ENIC can afford to put their hand in their pockets. Nobody has said that they should spend £400m.
That's all true but ENIC probably don't have access to even 200m of cash. I doubt the value of property they and the club are holding is more than a fraction of that and probably has a decent expected rate of return. If the covenants allow, borrowing a bit more is probably the best route.
Yes, but the Levyista`s keep using FFP to justify ENIC`s lack of investment into the football operation, when this clearly is not the case.
"If we raised the cash, we could currently spend £400m!, 50% more than our next nearest competitor Liverpool and double what Arsenal could spend." "I`ve been saying for years that Levy`s constant pleading of poverty is mugging the fans off, and that just about confirms it. " "If ENIC want to entertain CL nights, or even EL nights in our new stadium, they're going to have to find the cash from somewhere to replace sufficient of that £400m to give Conte a squad to compete." "I'm not and have never suggested £400m for transfers and/or wages. Half of that, in the right hands, would give the new coach a chance and would place us in the right situation regarding investment over the last few years." "Yes, but the Levyista`s keep using FFP to justify ENIC`s lack of investment into the football operation, when this clearly is not the case." They really are
I have. Neither says that we should spend £400m. "If ENIC want to entertain CL nights, or even EL nights in our new stadium, they're going to have to find the cash from somewhere to replace sufficient of that £400m to give Conte a squad to compete." "Yes, but the Levyista`s keep using FFP to justify ENIC`s lack of investment into the football operation, when this clearly is not the case." Sufficient of that £400m to give Conte a squad to compete is not £400m. It's a non-specific amount.
What they are doing is talking about this estimate of £400m like it's money in the coffers which we aren't spending because...probably something about the NFL, for example with comments such as "If we raised the cash, we could currently spend £400m!, 50% more than our next nearest competitor Liverpool and double what Arsenal could spend." "I`ve been saying for years that Levy`s constant pleading of poverty is mugging the fans off, and that just about confirms it." "Yes, but the Levyista`s keep using FFP to justify ENIC`s lack of investment into the football operation, when this clearly is not the case." The article itself does not say we have £400m, the article - which I have directly quoted, twice, hence having to break out the formatting because people ignored it - says that we could spend £400m and comply with FFP, which does not mean we have £400m. It's like how I can walk into the Aston Martin showroom in Marble Arch, but that doesn't mean I'll be driving a vanquish out that day unless I planned on celling most of my vital organs It's similar to the one doing the rounds a year or so ago about how we were the fourth richest club in Europe so why weren't we spending, when the actual statistic was we had the fourth highest income of any club in Europe off the back of reaching the CL final in 2019 - and it's a little difficult to say we weren't spending when the season afterwards we spent around £150m on players while recouping £60-60m tops
No, they're not. They're saying that ENIC's asset has gained massive value without them spending anything. Joe Lewis certainly could spend £400m. He won't, of course, but he could invest something.
Someone even posted an article about it... I don't think that we've got anywhere near it since it's introduction. The stadium and infrastructure don't count toward it.
Firstly, nobody's mentioning Lewis, they're mentioning Levy Secondly, no they're not, they're moaning about an estimate as if it is gospel, for example "Chucking in £200m isn't going to kill them or us." " Half of that, in the right hands, would give the new coach a chance and would place us in the right situation regarding investment over the last few years" "If we raised the cash, we could currently spend £400m!" What £200m? What £400m? It's an estimate, and yet the fact that estimate is being twisted into money which exists in front of your eyes even though the article quoted clearly says it's not actual money makes it abundantly clear what's going on here is an obvious attempt to manufacture a transfer window's worth of moaning about money which not only doesn't exist, but the article being quoted itself doesn't say exists
"ENIC's lack of investment"? Lewis owns ENIC. Nobody's saying that the money exists. The quotes that you're referencing explicitly talk about outside investment. "If we raised the cash", "Chucking in £200m isn't going to kill them". You're arguing against a position that nobody appears to hold.
I literally quoted Brian saying we can spend £400m, plus saying we need only spend half of that What £400m? It's an estimate, not an actual figure of money in the club's coffers, so what I am arguing is...well, three things i.) Stop twisting what an article says because, while the first time could be explained as a slip-up, the second and third time makes it obvious that it's intentional ii.) It's a bit difficult for any club to spend £400m if the club doesn't have £400m to spend in the first place iii.) Don't act surprised if we "only" spend £20m in January and you see that £400m figure being tossed about on here
absolutely correct. Infrastructure and stadium don't count towards FFP but it's always been used that money has not been diverted to support the build of the stadium but that everything was loans. Surely though, FFP is a function of how much the club has earnt and spent so having surplus FFP means money has been made but has not been spent and must go somewhere (like a development). I have only heard (to be fair not many on here) that money cannot be spent as the club would exceed FFP (whether by income or investment by ENIC themselves). I can understand ENIC not wanting to invest if they see this as purely a business if they are not going to get the return they expect. Whether if that is what you want is a matter of opinion from a fan though
ENIC is not limited by its current form or financing and doesn't exist as an entity in isolation from its major shareholder, Let's pierce the corporate veil, as it really doesn't reflect the reality of the situation and has 'disappeared' when it's been deemed advantageous to Lewis/Tavistock/ENIC. This was done in the Olympic Stadium 'pitch' where Tavistock guaranteed to underwrite the stadium rebuild costs to a maximum of £500m. Tavistock also loaned ENIC, or the club, £40m at the time of building the training ground as they'd spent all the cash on buying land in N17 and guaranteed building costs for the new stadium. Tavistock have intervened before to develop property, excusing a failure to do it when the football team needs finance, won't wash. Whilst Tavistock/ENIC should be injecting additional investment (and should have done so well before now), I believe that you are right that they will just load up the debt. It's not ideal, as the club gets to pay the interest not our billionaire investment company owner, but he and Levy have got to do something. ENIC continuing to falsely claim poverty, whilst doing nothing won't wash, just as it won't solve the club's problems.
"If we raised the cash, we could currently spend £400m!, 50% more than our next nearest competitor Liverpool and double what Arsenal could spend." "It's not FFP that might continue to stop us from spending on sporting success, it's that the money's being spent elsewhere" "All of that £400m FFP complaint money has been spent - and the balance of our spending and the priorities of the club haven't been on football, as the £400m figure indicates all too clearly." No I am not We even have the predictable kvetching about the stadium, too
The stadium and infrastructure have increased our revenue quite dramatically. Our spending on transfers and wages have also increased, but our FFP limit has gone up even more. Covid hit our revenue but it has still grown by £182m since 2016 from £210m to £392m. The previous year it was £460m. With more non-football events it could be even higher. Our spending on debt, transfer and wages can all go up at the same time. That's the whole point in the new stadium. It shouldn't divert funds, it should increase them.
