ENIC...

[Gassin's finest]

I'll bite, but after this I'm done. We just restructured nearly £700b in stadium loans, would we need to do this if we were receiving investment from ENIC to pay for the stadium.

Like... if Joe Lewis actually did own the club, like some seem to think, he could easily bung a couple of billion at it all. The reason he doesn't do that is because... he doesn't own the club.

 

[spuradik]

I'll bite, but after this I'm done. We just restructured nearly £700b in stadium loans, would we need to do this if we were receiving investment from ENIC to pay for the stadium.

That's more than what the U.S. spends on its entire military budget annually. Maybe Levy took chants Yid Army a bit too seriously.

 

[Trotter]

This just kind of dawned on me when people say we won’t actually spend the extra revenue on players. Well then what will they do with it ? They don’t take a dividend. The stadium has been refinanced. So unless they build up a massive cash reserve which lets face it they ain’t gonna get away with, what option is left but to spend it on players and wages.

Firstly historic performance, where until recent years we have not had the significant profits to pay dividends, and have had massive planned future infrastructure planned, is certainly no guarantee of future intentions. They could well try and get away with paying dividends at which time we should burn their cars, houses and Lewis's boat.
Other profitable clubs certainly do pay dividends.
They could at any stage syphon off cash to parent companies on the pretext of management fees, consulting fees, advisory fees, and we would be none the wiser really unless disclosed in accounts.
We could one day wake up and find all of Levy and Lewis's children, grandchildren, wives and dogs on the payroll earning a few million a pop.
But more realistically they could just spend the profits/cash on further projects to build up the non playing staff assets, rather than spend on players, or just build up the cash reserves fattening up the balance sheet for a future sale.
There is basically loads of options they have, that doesn't limit them to the massive stretch that you have concluded that they have no option but to spend all the money on new players and massively increased wages, have you ever known an investment company to spend when they can avoid it ?

 

[spursfan77]

Some people seem to think Enic/Levy are pocketing the cash ..

I think they truly do. You see it all over Twitter. Then if you tell them to go look at the accounts there's silence.

 

[JUSTINSIGNAL]

Some people seem to think Enic/Levy are pocketing the cash ..

Yep. It's fucking tiring to read the same misinformed nonsense from idiots that are just pissed off that we're not Man City, Chelsea or PSG.

 

[Dillspur]

That's more than what the U.S. spends on its entire military budget annually. Maybe Levy took chants Yid Army a bit too seriously.

? Oh dear

This was laughing at myself, incase anyone thinks otherwise *cough* MassadaTom *cough* ?

 

[hakano]

This just kind of dawned on me when people say we won’t actually spend the extra revenue on players. Well then what will they do with it ? They don’t take a dividend. The stadium has been refinanced. So unless they build up a massive cash reserve which lets face it they ain’t gonna get away with, what option is left but to spend it on players and wages.

Say you have a house that you bought for 1M, you have a mortgage on it for 700K which you comfortably can pay, you earn a lot of money but you decide you dont want to go crazy and one holiday a year will do. What do you do with your money? You invest, save and/ or you pay off your mortgage so when you get to sell your house you get to keep as much of it as possible.

This is Levy. Replace house with THFC.

 

[RichieS]

Say you have a house that you bought for 1M, you have a mortgage on it for 700K which you comfortably can pay, you earn a lot of money but you decide you dont want to go crazy and one holiday a year will do. What do you do with your money? You invest, save and/ or you pay off your mortgage so when you get to sell your house you get to keep as much of it as possible.

This is Levy. Replace house with THFC.

A good example. But shall we wait until it's actually happening before criticising based on assumption about what Levy will do?

 

[13VanDerBale13]

The end of the window will prove to be very interesting, they know they have to deliver this month & failure to do so will have big consequences for the club going forward

 

[Marauder]

Yep. It's fucking tiring to read the same misinformed nonsense from idiots that are just pissed off that we're not Man City, Chelsea or PSG.

There are so many responses to that ... A fairly simple one first, my friend. How has Danny boy's bonus been doing since ENIC took over? And how have the players wages been doing in relativity in that time?

 

[Trotter]

Anyone else see the banner in North East Corner (Block 519) last night ?

Don't know how to post picture of it in here (got it on WhatsApp, but it said "Thanks for NO memories, Time to say goodbye, LEVY OUT!"


No doubt this will lead to increased searches on our way in so these things can be confiscated, like what happened few years ago when Levy Out sentiment was increasing.

 

[dontcallme]

I have lots of good Spurs memories from the last decade.

 

[Tottenhamboy85]

 

[dontcallme]

I'm as disappointed as anyone that we didn't win a trophy but for me the last decade was much better than the 90s and 2000's.

 

[Lilbaz]

I have lots of good Spurs memories from the last decade.

Got to go bernabau, san siro, camp nou and loads of others. Remember parts.

 

[Archibald&Crooks]

Anyone else see the banner in North East Corner (Block 519) last night ?

Don't know how to post picture of it in here (got it on WhatsApp, but it said "Thanks for NO memories, Time to say goodbye, LEVY OUT!"

That's unfortunate. I mean, I criticise Levy plenty but 'no memories' is a bit harsh.

The stalk on I got when news broke about us being the biggest London club financially will long linger in the memory. When he gave himself a nice little Brucey bonus, I actually touched myself and I got positively moist when we won the Audi cup.

But being serious, it IS a bit harsh. A few occasions stick in the memory but I suppose I'm taking that literally and it's referring to trophies won and one League cup in god knows how many years is a pretty skinny return because 'good result' nights are to be had no matter who's in charge of a football club. Personally I think it's maybe starting to look like Levy's shelf life is approaching its end, but who knows, he's a game little fucker, they might have to prise the keys from his cold withered claws before he gives up control.

 

[dontcallme]

There are so many responses to that ... A fairly simple one first, my friend. How has Danny boy's bonus been doing since ENIC took over? And how have the players wages been doing in relativity in that time?

2012/13 our wage bill was £49m. 2017/18 it was £147m.

In 2016/17 Levy received just over £6m. Kane is reportedly on a salary of £10.4m, same as Ndombele and Son also earns more on £7.2m. That does not include their bonuses.

Edit: @Lilbaz has pointed out that the £6m Levy received was partly backdated bonuses. I think it's fair to say the likes of Kane's, Son's etc wages have gone up by a lot more than Levy's in that time period. All earn considerably more than Levy.

 

[Lilbaz]

There are so many responses to that ... A fairly simple one first, my friend. How has Danny boy's bonus been doing since ENIC took over? And how have the players wages been doing in relativity in that time?

The financials will be out in the next two months.
Think last year he got about £3m total. We're paying jose £15m.

 

[dontcallme]

The financials will be out in the next two months.
Think last year he got about £3m total. We're paying jose £15m.

According to The Times he got £6m in 2016/17

 

[Lilbaz]

According to The Times he got £6m in 2016/17

Yes for backdated bonuses involved with the stadium.