So Arry got paid for the final year of his contract, with no Levy clauses as to reduced payment if he got work within N months of the sacking date ?? If so, that is at least 3m quid gone from the kitty immediately.
Correct. Contrary to popular myth, there was no real aggro between Harry and Levy and they shared a mutual respect up to the end. Levy (and full credit to him), felt duty bound to pay up Harry in full and also imposed no "gagging" order, no reduced payment if he took another job etc etc. There were no clauses imposed and the whole business was done in adult and civilised manner. To the end, he liked Harry and trusted him to be sensible with his post-sacking comments in the media. This is why I asked at the beginning of this thread if this financial loss included a presumably unbudgeted for compensation to management.
"This is why I asked at the beginning of this thread if this financial loss included a presumably unbudgeted for compensation to management." That would be a lazy way of saying tis why Spurs didn't balance the books. The reality is that compared to 2009/10, an extra 20m odd of revenue generated has been eaten up in other OPEX costs. We now have to wait for the accounts to appear, to see exactly where the money went.
There's nothing middle of the road about it. ENIC bought the club with a view to raising the club's value for their gain, that involves not taking out big dividends and looking for the club to fund it's own development with the help of a bit of extra capital here and there through a few cheeky share issues to themselves. If I remember rightly the club was valued at around £80mill when they first bought Sugar's stake about 12 years ago and when there were rumours they were selling a year ago it was supposed to be for around £450mill which would've given ENIC, as the majority shareholder, a huge profit on their investment, far better than trying to take big dividends out of the club and getting us going nowhere, like Arsenal. Profit schmofit ENIC have put the growth of the club first and there are plenty of other clubs have made big mistakes trying to get their side into the top 4, like Lerner at Villa who's spent a lot of money and ended up still going backwards.
I did not say the 'Olympic Stadium bid' was a total waste of money., as one can always derive value from any such experience. I did not say that the 'Olympic Stadium bid' was solely responsible for the lose acquired over the passed financial year. To suggest Tottenham Hotspurs (Club and Company) would throw away large sums of money on a infertile bid just 'to put pressure on a London Council' is in short, naive. Is this what you're saying ?. The "Town and Country Act 1947, (with recent admendments)" are fairly implemented and more over, there's been a 'football ground/stadium' on the land (opposite White Hart Lane) since 1899. Harringay Council would be hard pressed to now rescind any of the easement(s) gained or permission(s) granted by them, for such a venue under the current laws and circumstance in this case. Issues regarding the increase in traffic numbers to and from the ground (more predestians and road traffic) are sur-mountable and there will be the inevitable consideration given to Puplic transport, Health, safety and security etc., to the site, its perimeter and surrounding area. The process is the same for all Planning applications of this size and nature and can not be off set. The amount of tax payers money directed specifically at the 'redevelopment of the stadium' is negligible., any such money would not from part of the primary building costs anyway......, unlike the City of Manchester Stadium which was built almost entirely from public money.
Not bad. Now if we could only get sponsorship from some non-profit making middle eastern airline that nobody has really heard of for say £500 million, it would make our balance a much healthier £494 million.
I understand now SC. Income =£150 M Outgoings = £150 M Pay-offs = £4 M consisting of: Clive Allen = £0 Joe Jordan approximately £100,000 Kevin Bond approximately £100, 000 Arry Redknapp = Three shillings and sixpence Rosie the dog, Monaco Ltd. = £3,799,999.83
You must be an accountant........ You've manage to pull these figures from no-where and they make a modicum of sense.
