That would be true if Levy was being paid an amount equal to a huge proportion of the profits and somehow funnelling that back to ENIC but his salary is not big in the general scheme of things.
Thomas Frank & Johan Lange (& Fabio Paratici) Watch
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Not in the short term they don't. Since ENIC bought the club, their input aside from the purchase of the shares, was a loan of £50m (subsequently repaid). Apart from about 10 events in the new stadium, every penny that ENIC have spent or borrowed has been earned by the football club and football team.
In the last 3 years alone, that's created an estimated FFP surplus of £400m. If the ticket prices weren't as high as they are, and performances weren't as poor as they are, fans might continue to wear it. However, that's not what's happening.
ENIC have had a great ride and created a massive profit for themselves...but everything comes to an end and now, it's time for ENIC to put something back in to make up for the rubbish football business that they've overseen since the stadium was built...or reap the reward. If they don't bring some capital investment into the club to rectify the situation that they have created and back this coach, they can expect fans to act so as to express their dissatisfaction and bring about change.
Got to be honest and admit i missed the THL part of the structure
A lot to take in with a 5 min skim though in my defence
No, FACTS.
"It's similar to how City pass FFP because the arabs give some dubious sponsorship to City but as it's not been directly given from the owners it's fin["
Not similar at all (though I can see why you as a Chelsky
supporter would attempt to use it so)
Personally I think a lot of the issues have been created by the club backing transfers demanded by previous coaches (Pochettino and Mourinho) rather than having a DoF to manage transfers. Levy got that wrong but almost everyone on here thinks that is the right way to go.
One more quick question.
Which part of the group is FFP based on?
THL, THFACL, THSL, or the whole group?
THFACL hold the players registration.
The basic issue is whether you believe the general quality
and style of play at a club should transcend the transience of
a manager, where possible to do so.
I do, and believe this is a "mission statement" for a DoF
(as well as supporting in the transfer market the immediate
needs of a current manager) ,
Everyone has a hand in it. Poch made some terrible choices in Ndombele, Lo Celso, Janssen and others. Levy/Hitchen bought Aurier, Rodon, Bergwijn, Sissoko and loaned Bale.in. No doubt Mourinho picked a few as well. They're all to blame but Levy oversaw it and whilst the coaches paid with their jobs, Levy's got to pay to get it right with a loss of equity.
We’ve got in a new DOF and we’ve got in a new no nonsense elite manager
yet this window is going exactly like our previous windows have when Levy and that useless turd Hitchin have been at the forefront of dealings. So with that in mind, I’m a bit dubious as to wether Levy has actually managed to keep his clueless bald head out of the transfer dealings as was mooted.
yet this window is going exactly like our previous windows have when Levy and that useless turd Hitchin have been at the forefront of dealings. So with that in mind, I’m a bit dubious as to wether Levy has actually managed to keep his clueless bald head out of the transfer dealings as was mooted.
That is one mixed up business structure
On a quick skim the company's could be sold off in blocks which could end up in a total disaster for you.
You do get the NFL money
I found this bit interesting though
THSL owns and operates the stadium and contributed £96m in revenues in 2019-20. It earns income from ticket sales, corporate hospitality and, we presume, match day food and drink sales
So much for the bigger stadium bringing in more matchday revenue.
Bit difficult when for most of that period any activity took place under covid regulations with a mostly empty stadium.
Think you missed my point a little there, i was pointing out that the stadium revenue goes to one of the companies but not the one who owns the players registrations which i would think is the company taken into account for FFP but have since been told the whole group is assessed.
Sounds strange to me but hey.
Of course it's similar. Rather than take out dividends (we're taking nothing out of the club), he's made himself one of the highest paid chairman of the game which is effectively taking money out of the club. Does Levy deserve to be the 2nd highest paid chairman in the PL?
no that is absolutely fair enough, 3m (i just did a quick google) is not massive in the grand scheme of things. It's what a 1% on the turnover of the club. Still, it's a fair sum when tottenham decide to haggle over a few million on players.
The group is effectively the corporate successor of THFAC.
The other entities in the group exist solely due to the
financial consent/will of old THFAC.
A club director being paid salary or dividends
from the profits of the club has nothing to do with FFP.