Financial Results - club announcement

[Stuart Leathercock]

You must have been really disappointed that the Club didn't post the huge Profits you thought they would to come out with this nonsense.

Company that only cares about Profits gets creative with accounts to show third massive loss in three successive years. Then injects £150 Million of its own money to balance the book to keep up the pretense. It really does not make sense does it, especially when we owe so much to the banks. If they think we have become financially unstable they will just step in and recall their loan. Do you really think the Club has deliberately tried to show a loss?

It was obvious the Club was in short time financial trouble, ENIC are not going the inject their own money unless it was absolutely necessary. We lost £197 Million during those three seasons and yet still spent £355 Million on Players without sales.

And yet despite those things there was still a willingness to try an improve the first team, even if we are using more loan to buy options due to the Clubs current financial position and yet you want to use that as a stick to beat ENIC with. It's not just the quality of the players we are bringing in any more that is being used as a stick to beat the Club with, they now need to be obtained in a particular way now that recruitment has improved.

Just to let you know that the accounts show that £100m was injected and not £150m.

 

[spursfan77]

Just to let you know that the accounts show that £100m was injected and not £150m.

I need explaining to me what has happened to the rest and what it means that it wasn’t drawn down. There’s a page in the accounts detailing it but I’ve no idea what 90% of it means!

 

[Stuart Leathercock]

I need explaining to me what has happened to the rest and what it means that it wasn’t drawn down. There’s a page in the accounts detailing it but I’ve no idea what 90% of it means!

Nothing has happened to the rest. It only existed as a 'possible' equity injection. Levy and Lewis set up a method to inject a possible £!50m of equity into THFC and announced it with a big fanfare. They then only injected £100m of that possible £150m.

 

[Trix]

Nothing has happened to the rest. It only existed as a 'possible' equity injection. Levy and Lewis set up a method to inject a possible £!50m of equity into THFC and announced it with a big fanfare. They then only injected £100m of that possible £150m.

Indeed just more bluster, that £50mil could well have bought us that much needed CB. Instead they just left it in the bank, and before anyone asks no we can't use it in a different window, that money is now gone as far as it being put into the team is concerned. We are back to being Tom and Barbara, looking over our fence trying to watch Jerry and Margo's new TV through the curtains.

 

[spursfan77]

Indeed just more bluster, that £50mil could well have bought us that much needed CB. Instead they just left it in the bank, and before anyone asks no we can't use it in a different window, that money is now gone as far as it being put into the team is concerned. We are back to being Tom and Barbara, looking over our fence trying to watch Jerry and Margo's new TV through the curtains.

Fucking pricks.

I wonder what the ffp limit they can go to is now, bet it is huge. SwissRamble will be doing his report this week so I expect it to be embarrassing on that front. Not that they care.

 

[ComfortablyNumb]

Indeed just more bluster, that £50mil could well have bought us that much needed CB. Instead they just left it in the bank, and before anyone asks no we can't use it in a different window, that money is now gone as far as it being put into the team is concerned. We are back to being Tom and Barbara, looking over our fence trying to watch Jerry and Margo's new TV through the curtains.

Tom and Barbara were much more fun, though.I miss the fun...

 

[ukdy]

SwissRamble will be doing his report this week.

Keiran Maguire of Price of Football was on Last Word pod tonight and will be talking about us on his own pod on Thursday. Not sure if anyone caught them tonight?

 

[spursfan77]

Keiran Maguire of Price of Football was on Last Word pod tonight and will be talking about us on his own pod on Thursday. Not sure if anyone caught them tonight?

Cheers. I find him a bit irritating for some reason. I’m not sure he knows as much as he lets on. Swiss Ramble seems to be much more switched on.

 

[Chirpystheman]

This sums it up. How anyone can defend this. Don't talk to me about self sustainability. They are set to make over 3bn profit if and when they sell the club. If they were really fans they would spend 200m and provide the tools to compete. Instead we will end up with Poch back and switching to 4 at the back as it's a cheaper option for Levy as he'll think we only need a GK by doing this.

 

[IamSpurtacus]

This sums it up. How anyone can defend this. Don't talk to me about self sustainability. They are set to make over 3bn profit if and when they sell the club. If they were really fans they would spend 200m and provide the tools to compete. Instead we will end up with Poch back and switching to 4 at the back as it's a cheaper option for Levy as he'll think we only need a GK by doing this.

King Cnut thinks the tides of spending will be turned back by some imaginary enforcement of FFP that has yet to manifest, or shackle clubs actually willing to invest to win

 

[dovahkiin]

 

[ukdy]

Tottenham Hotspur Finances 2021/22

More Songs About Buildings And Food

swissramble.substack.com

Full blog link

 

[spursfan77]

This sums it up. How anyone can defend this. Don't talk to me about self sustainability. They are set to make over 3bn profit if and when they sell the club. If they were really fans they would spend 200m and provide the tools to compete. Instead we will end up with Poch back and switching to 4 at the back as it's a cheaper option for Levy as he'll think we only need a GK by doing this.

If they wanted to they could spend over £300 million on players and still be within FFP. But they don’t. Wages to turnover down 10%. It’s all cost cutting. Repeatedly.

 

[vegassd]

If they wanted to they could spend over £300 million on players and still be within FFP. But they don’t. Wages to turnover down 10%. It’s all cost cutting. Repeatedly.

That particular ratio went down because the turnover figure increased so much due to fans being back in the stadium. I'm sure we could have paid all our players 20% more if we wanted, but it wouldn't have made them play any better!

The main feeling I get from that Swiss Ramble article is (as always) that the numbers are complicated and I would guess the vast majority of us lot here don't really understand it all. So I think anybody trying to pick an individual data point and use it to make any sort of argument (for or against anything) is pretty futile. Lies, damned lies and statistics.

The other feeling I get is that football is pretty much fucked. To see clubs earning such huge amounts of money but still posting tens of millions of losses is mad... and it seems to be a hell of a lot worse on the continent. I struggle to see how FFP can be properly introduced if it's going to have a negative impact on such a large number of teams.

We may have built our house upon the rock, but with so many other clubs being built on the sand there's surely no way that the authorities can let them all wash away. FFP will end up with enough loopholes that being a self-sustaining club isn't going to be of much benefit at all - on the pitch at least.

 

[Drink!Drink!]

This sums it up. How anyone can defend this. Don't talk to me about self sustainability. They are set to make over 3bn profit if and when they sell the club. If they were really fans they would spend 200m and provide the tools to compete. Instead we will end up with Poch back and switching to 4 at the back as it's a cheaper option for Levy as he'll think we only need a GK by doing this.

and meanwhile, same report

“Daniel Levy’s remuneration rose 21% from £2.7m to £3.3m, presumably thanks to the Champions League qualification, which means that the chairman has trousered a cool £40m in the last 13 years….Levy’s £3.3m director’s remuneration is once again the highest in the Premier League”

 

[Spursmatty87]

The price of football will be looking in detail of our financial report in their pod on Thursday.

 

[Trix]

and meanwhile, same report

“Daniel Levy’s remuneration rose 21% from £2.7m to £3.3m, presumably thanks to the Champions League qualification, which means that the chairman has trousered a cool £40m in the last 13 years….Levy’s £3.3m director’s remuneration is once again the highest in the Premier League”

"SELF sustainable football club"

 

[Albertbarich]

I'm twenty minutes in to the Last Word on Spurs pod with Keiran Maguire and he has already said he hates Chelsea and he thinks our board don't want to win the league.

A good conversation so far

 

[Trix]

I'm twenty minutes in to the Last Word on Spurs pod with Keiran Maguire and he has already said he hates Chelsea and he thinks our board don't want to win the league.

A good conversation so far

Lol his closing line on the board.......


"Off the pitch they've delivered." "Can I swear?" (yes) "On the pitch they've fucked it up".

 

[Stuart Leathercock]

Can we actually work out from these results what we make from the non football events?

Kind of yes....

The non football events go into the Commercial income in our accounts. The difference between the commercial numbers the previous year and this year was £32m in total (with the stadium pretty much entirely closed the year before). £12m of the difference were Getir and Cinch deals, £3m was an increase in merchandising sales and 'other income' increased from £15m to £32m.

From that I think we can tell that the combined revenue from other events and catering was therefore £17m.