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Oh no, what a personal disaster: Brooklyn Earwig has said he does not intend to make an offer to buy us

What a shame, a grifting twunt who clearly does not understand basic footballing business (i.e. his promise of £1.2bn in transfer funds betrays he does not know what PSR is) will not be buying our club
 
PowerSpurs said:
Because it doesnt affect the amount we could spend on transfers which is limited by the stadium covenants. It will allow us to build the hotel etc though.
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For far too long ENIC have refused to properly capitalise and fund the club. They have wasted opportunities at sporting success through placing the weight of the ever increasing cost of development on the shoulders of what should have been football money.

Creating separately sourced funding for the myriad of projects ENIC have planned, takes the yoke from around the football team's necks. Pissing good PSR approved funds away on other stuff has hobbled us for too long.

It may be that we can't spend the capital injections (in part or whole) directly on transfer fees or wages, but indirectly we will. Every PSR penny should be spent on those costs. No more sub 50% wage costs and ****ty 3rd rate signings.

If ENIC are going to put their money where COYS Daniel, Charrington and VV put their mouths, we can start acting like the club that's in the Top 10 of the world's richest clubs.
 
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"Thanks for that Brian" said:
For far too long ENIC have refused to properly capitalise and fund the club. They have wasted opportunities at sporting success through placing the weight of the ever increasing cost of development on the shoulders of what should have been football money.

Creating separately sourced funding for the myriad of projects ENIC have planned, takes the yoke from around the football team's necks. Pissing good PSR approved funds away on other stuff has hobbled us for too long.

It may be that we can't spend the capital injections (in part or whole) directly on transfer fees or wages, but indirectly we will. Every PSR penny should be spent on those costs. No more sub 50% wage costs and ****ty 3rd rate signings.

If ENIC are going to put their money where COYS Daniel, Charrington and VV put their mouths, we can start acting like the club that's in the Top 10 of the world's richest clubs.
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PSR isn't the issue. The stadium loan covenants require EBITDA to cover a multiple of the interest. Based on outcomes i think the multiple is 1.75 or thereabouts.
New capital doesn't change that.
The interest on the loans is miles below current market rates so they are nearly impossible to renegotiate. Getting the hotel built is good as it will add real income down the line but it will make no difference in the short term.
 
"Thanks for that Brian" said:
For far too long ENIC have refused to properly capitalise and fund the club. They have wasted opportunities at sporting success through placing the weight of the ever increasing cost of development on the shoulders of what should have been football money.

Creating separately sourced funding for the myriad of projects ENIC have planned, takes the yoke from around the football team's necks. Pissing good PSR approved funds away on other stuff has hobbled us for too long.

It may be that we can't spend the capital injections (in part or whole) directly on transfer fees or wages, but indirectly we will. Every PSR penny should be spent on those costs. No more sub 50% wage costs and ****ty 3rd rate signings.

If ENIC are going to put their money where COYS Daniel, Charrington and VV put their mouths, we can start acting like the club that's in the Top 10 of the world's richest clubs.
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There are two benefits of this (and hopefully further) capital injection:

1) By funding ENIC's portfolio of non-football projects, it will get them in the pipeline and completed far sooner than relying on football-driven profit to fund them (which runs the risk of what we've seen over the past 5-6 years with no regular CL income stream causing general stagnation). This in turn should enable us to pay off the stadium loans sooner and get the covenant millstone off our neck.

2) An instant increase in wages, which is an area we've lagged in for a ridiculously long time and one that only impacts EBITDA minimally. I calculated last season that we could increase our wage ceiling by appx 25% overnight which puts us in the same conversation as Liverpool and Chelsea as opposed to Newcastle and Villa.
 
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That trip to Newcastle just gets worse, doesn't it?
 
We've drawn Villa at home in the FA Cup 3rd round. Not ideal.
It'll be on the weekend of the 10th January, probably at a ridiculous, inconvenient time.
 
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