FFP isn't the issue. It's the stadium covenants and ENIC putting money in doesn't change that. I do agree that everyone including ENIC has underestimated the difficulty of becoming a permanent top 4 team that wins trophies. But the only solution is to find an investor who can afford to pay off the stadium loans and add another £500m to spend. That essentially limits the field to those who are sportswashing ill gotten gains.
...and we're back to failing to understand that being able to spend £400m isn't the same as actually having £400m to spend
So the season could effectively be over tonight. 3 British teams left on the Europa League….how many come 10pm?
Rangers could have a mare of a run. Celtic have a semi-final on the weekend. They don't. The next fixture sees Celtic face Dundee Utd. Anything but a loss and they win the title. Next game? Rangers at Ibrox.
Just seen Tolisso's red card. Absolute bollocks. https://www.reddit.com/r/soccer/comments/1k1nufu/tolissos_red_card_vs_manchester_united_from_other/ That's what VAR should be doing.
Spurs win in Germany has just about knocked me out.Well done.And something finally to make our great travelling fans happy.....Why are you doing your best to commit suicide United?
No, seriously, how did we have one of the most straightforward European results this evening? As for the polar opposite, look no further than Rapid Wiener against Djugarden - 1-0 up after the first leg - had somebody sent off in the 7th minute - were 1-1 on the night and 2-1 up on aggregate at half time - were 2-1 down on the night and 2-2 on aggregate at full time - went 4-1 down on the night in the first half of extra time - had a second player sent off in the 100th minute
So Penited through courtesy of a dodgy sending off and a more than dodgy penalty which turned the game in their favour, vintage fare.
ENIC could pay off the stadium loans. They just choose not to do so. They could seek additional capital from external investors, but are only interested in doing so at such an excessive value that there are no takers. They could sell up, but own vast amounts of development projects in the area and the front of the football club gets them advantages that aren't available to others. It all comes down to the fact that sporting ambition is not a priority. Making money for ENIC is what we're about.
ENIC has nowhere near enough resources to pay off the stadium loans. Very few people would choose to do so even if they had the resources...the interest rate is so low that unless you had no other means of investing the money it would be bonkers to do so. Having additional capital makes no difference to the football club unless the loans are paid back or the covenants renegotisted. It would allow more investment in the hotel and other projects though. As I said I don't think they saw any of this as limiting because they expected ffp would help them compete. But Chelsea and Man City are still behaving as if the rules don't apply to them.
So the likely reason is the latter. Which once again means clan Lewis have little personally at stake financially for the Spurs project.
Having said that ENIC could pay off the stadium debt, I didn't think that I needed to say, specifically, that outside investment could do the same. I was wrong, it seems. ENIC can raise plenty of money. The y just have to shelve some developments they have planned...or sell them on...(as if...) The interest costs on the debt are now in excess of £50m p.a., based on the most recent accounts. That's a not inconsequential sum of money. If we fail to get European football next season and possibly, the season after, the academy had better start earning its corn and then some, and there can be no more expensive 'mistakes' in appointing coaches or buying **** playersbecause we like their wage demands. In business, as in life, many things are possible. It's all about priorities. ENIC don't invest in footballing success as a priority. It's not because they can't, it's because they see it as less lucrative than spending the money on other things, no matter how it's dressed up.
I agree with most of that. ENIC are trying to increase the value of the Club as a priority. However that can't happen from here unless we can be more successful on the pitch. However a business plan needs to more than stating we won't make mistakes or we will make better decisions or the academy needs to produce another Harry Kane. If a 50% share issue with the new shares sold for £1.5b was possible then that would allow the loans to be paid off and 500m spent on players. However would the club be worth £4.5b after that...? I am not sure so it might be a hard sell. The difference Arsenal is that if they raise £200m they can spend all of it on the team.
Well they own about 60% of the club so that's well over a billion. Good or bad management of the club could change that by 100s of million so that seems quite a lot at stake
Their financial world would not come crashing down if they were forced to fully pay the new WHL loan themselves, would it ?? Let the 'new WHL is just like "black wednesday" ' commence ...
Well,Hammers did win the egg cup so their ego must still be up a little.They can (maybe) watch Chelsea do the same very soon as they wonder "what the hell are Tottenham doing in a semi final with their crappy team?".......and "will that same crappy team get murdered on Sunday by that Champions League chasing team?"
