Club watch

Swiss Ramble's published a piece about our 2021-2 financials
https://swissramble.substack.com/p/tottenham-hotspur-finances-202122

 

Just remember before you get too excited that this investment would be just that, an investment with a view to making money out of football.

 

I wonder what nonsense the ENIC in brigade will come up with to oppose this latest takeover rumour.

 

It’s ****ing Eugene Levy!!!

Jim’s Dad! The legend!

 

It's also worth pointing out that, less than two weeks ago, he was looking to invest in Everton

Doesn't necessarily fill me with hope that his first choice was a complete ****ing basket case

Also, his Wikipedia page is cause for concern

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Which is what we have now. ENIC are in this for the money and much of that is now likely to come from non-sporting investment - i.e. development of hotels, golf courses, housing, etc.

Maybe having owners who saw the club as a purely sporting entity would be good for us, even if they don't have the spending power of some purchasers?

I'm ambivalent to who owns us. I just want the owner to concentrate on developing a way for us to be successful on the field. Currently, we don't have that and whilst Daniel Levy remains in de facto control, I don't see that changing.

Are these people the answer? I have no idea but if they offer ENIC enough money, they'll be the owners. I wouldn't put any stock in ENIC turning down the magic number because they don't like the cut of the purchaser's jib. It's always been about the money.

 

I am guessing that they look at football clubs as a commodity. Everton are at a low point so you might be able to pick them up cheap. Spurs are on the verge of a big breakthrough and they are in London so again a good investment. BUT you might expect Levy to push their offer to the point where it's not so attractive. We'll see.

 

Reportedly the offer is $3bn + taking on the stadium debt

Or, to put it another way, not a leveraged buyout. I mean, which club would be so dense that they'd accept one of those...?

The main issue is 30% of the bid is funded by unspecified Gulf state dark money

 

I don't except it is as simple as that. They are determined to run Spurs on a self sustaining basis and that means making a profit and investing that into the club. In my view that's the best way to manage a club in the PL. They are ambitious for the team within those conditions. That's quite different to the United model where the owners have taken and are taking massive funds from the club and saddled United with debt and left their stadium to decline.

 

Spurs are effectively "zero sum" to Uncle Joe.
He has nothing seriously at stake if Spurs do not
win the PL. CL etc within some N year target.

IMHO the closest you can get to that is a period of
CL money starvation akin to what them lot have
suffered since 2017.

 

ENIC have been using club funds to buy land that serves no sporting purpose since the very earliest days. Recently, they agreed to allow the club to draw down up to £150m of ENIC's money, which doesn't have to be repaid. The reason for the investment was for transfers 'and other purposes'.

Despite our desperate need for centre halves, the club has only drawn down £97m of that money...and surprise, suprise, Daniel's been on BT Sports indicating that the hotel development is going ahead...and other secret developments are in the offing.

I'm fed up of the football club being a funding mechanism for ENIC's real agenda. I want us to concentrate on being a football club...

 

Then you do not want an American owner.

 

Oh ****, I just realised something: we're going to have Baddiel bitching about an Iranian buying a club with a large Jewish following, aren't we...?

 

The Glazers undertook a "debt leverage" scheme.
They had to do that because they were not wealthy
enough at the time to buy Man Utd outright.

If Man Utd suffer serious CL starvation, the
creditors will then probably seek to remove the Glazers.

 

I'd have been happy with the Americans who bought Liverpool...and the Kroenke's are now heavily investing in sporting success...as is Boehly.

There is life beyond the reign of Levy and ENIC...

 

That is what I said.

 

Of course there is but a consortium suggests investors looking for returns not crazy sports fans looking for reflected glory.

 

This is the only thing that matters:
Jahm Najafi = Eugene Levy

 

Are you suggesting that the Kroenkes and FSG are "crazy sports fans looking for reflected glory?"