ENIC...

[SirNiNyHotspur]

Seems now they don't have a clue what to do after the stadium build, no coherent plan to push on, you have to question were we led along all along, assume they will be looking to sell rather than invest what's needed in the team, think they are past being able to use propaganda videos and in for a tough ride this year.

 

[Derryank]

No long term plan on the field.

Time to go

 

[onthetwo]

im sort of amazed at how things are unfolding under Levy and at how the governance of the Club (and lack of a strong Board) is manifesting itself in the decision making at the top. For me, the ESL debacle exposed it for all to see but its becoming clear that that was only the tip of the iceberg,

 

[dovahkiin]

Club announcement - Finance update - CCFF repaid, short-term debt replaced with long-term | Tottenham Hotspur

The Club has completed on an institutional fund raising of £250m, with an average tenure of over 20 years and an average interest rate of circa 2.8%. The debt stack includes a new 30-year tranche, with a bullet repayment in 2051 and is a unique financing for any sports entity with the long-term...

www.tottenhamhotspur.com

 

[SecretLemonadeDrinker]

Seems now they don't have a clue what to do after the stadium build, no coherent plan to push on, you have to question were we led along all along, assume they will be looking to sell rather than invest what's needed in the team, think they are past being able to use propaganda videos and in for a tough ride this year.

There can be no question that COVID has thrown a huge spanner in the works. They can't be blamed for that. Whatever plans they might have made will have had to have been redrawn.

The problem is the ongoing, absolute clusterfuck of a mess that Levy has made of redrawing them.

 

[Donki]

Club announcement - Finance update - CCFF repaid, short-term debt replaced with long-term | Tottenham Hotspur

The Club has completed on an institutional fund raising of £250m, with an average tenure of over 20 years and an average interest rate of circa 2.8%. The debt stack includes a new 30-year tranche, with a bullet repayment in 2051 and is a unique financing for any sports entity with the long-term...

www.tottenhamhotspur.com

So the debt can has been successfully kicked down the road.

 

[SecretLemonadeDrinker]

Club announcement - Finance update - CCFF repaid, short-term debt replaced with long-term | Tottenham Hotspur

The Club has completed on an institutional fund raising of £250m, with an average tenure of over 20 years and an average interest rate of circa 2.8%. The debt stack includes a new 30-year tranche, with a bullet repayment in 2051 and is a unique financing for any sports entity with the long-term...

www.tottenhamhotspur.com

Very telling that this article hasn't made it onto Spurs twitter yet. Would normally have been the first to post the story. The club clearly know that financial news like this, despite being very positive, would only further antagonise what is already an angry wasps nest of a fan base on Twitter so long as the manager search continues so shambolically.

On the flip side, raising this level of funding on top of the debt that we already have does show how well we have been run financially. For financial institutions to demonstrate such a level of confidence in a football club (given that the business is notorious for profligacy) is extraordinary. However, if Levy continues to mismanage the football side of things so horribly, it will soon have a serious adverse effect on finances.

 

[BromleySpur]

No doubt it's been said many times before, but whenever Levy talks about protecting the club's future, what he really means is protecting ENIC's investment. The club is a well-established business with substantial income streams, multiple assets, significant brand value and a loyal, worldwide customer base. Unless something unforeseeable happens, that isn't going to change. If the debt ever became unmanageable, ENIC could sell the club for a nominal sum, but of course they don't want to do that.

 

[Blockbuster]

Anyone know how much roughly, we have to pay each year for our debt?

I'm trying to work out if we are actually skint, or being played?

 

[SecretLemonadeDrinker]

Anyone know how much roughly, we have to pay each year for our debt?

I'm trying to work out if we are actually skint, or being played?

Interest on the stadium debt is c. £16m per annum.

Interest on this new debt seems to be c. £7m per annum.

Other than covenants (committing the club to financial prudence) that might be attached to the loan agreements, our debt isn't what is hamstringing us. It's COVID.

 

[onthetwo]

Anyone know how much roughly, we have to pay each year for our debt?

I'm trying to work out if we are actually skint, or being played?

2.8% is reasonable given the state of our finances but bond markets suggest that rates are going higher which was probably why weve done this sooner rather than later.

 

[SUIYHA]

Club announcement - Finance update - CCFF repaid, short-term debt replaced with long-term | Tottenham Hotspur

The Club has completed on an institutional fund raising of £250m, with an average tenure of over 20 years and an average interest rate of circa 2.8%. The debt stack includes a new 30-year tranche, with a bullet repayment in 2051 and is a unique financing for any sports entity with the long-term...

www.tottenhamhotspur.com

The Athletic reckon this will free us up to give Son a new contract.

My god we need some good news at the moment...

 

[Grey Fox]

Interest on the stadium debt is c. £16m per annum.

Interest on this new debt seems to be c. £7m per annum.

Other than covenants (committing the club to financial prudence) that might be attached to the loan agreements, our debt isn't what is hamstringing us. It's LEVY

corrected for you

 

[SirNiNyHotspur]

There can be no question that COVID has thrown a huge spanner in the works. They can't be blamed for that. Whatever plans they might have made will have had to have been redrawn.

The problem is the ongoing, absolute clusterfuck of a mess that Levy has made of redrawing them.

Just curious without Covid how would you see things went different? Would we have bought Skriniar? Would Mourinho have done better? Would ESL not have happened? Would we actually have a plan and the ambition to follow through out of this mess? I think if we're honest we know how most of them would have went. Covid has not made us any worse off than anyone else, our debt has been absorbed longterm so we're better off than many and more than covered by our increased future income (credit to ENIC there) but I'm just hearing more excuses for our continued failure. Fair play though for acknowledging the mess Levy has made of things, but really hard to imagine him doing a worse job last few years.

 

[SecretLemonadeDrinker]

Just curious without Covid how would you see things went different? Would we have bought Skriniar? Would Mourinho have done better? Would ESL not have happened? Would we actually have a plan and the ambition to follow through out of this mess? I think if we're honest we know how most of them would have went. Covid has not made us any worse off than anyone else, our debt has been absorbed longterm so we're better off than many and more than covered by our increased future income (credit to ENIC there) but I'm just hearing more excuses for our continued failure. Fair play though for acknowledging the mess Levy has made of things, but really hard to imagine him doing a worse job last few years.

No point speculating as to who we might or might not have bought had COVID not happened. All we can say for certain is that Spurs would have earned £200m more over the past 15 months and that that would have opened the way to considerably more and better options in the transfer market. There is also an unconfirmed ITK report that COVID scuppered (or at least stalled) a naming rights deal worth £25m+ per annum.

No question that Levy has made an almighty hash of the footballing side of things over the past couple of years. Deserves all the criticism currently coming his way. But it would be churlish not to acknowledge that COVID put a huge spanner in the works.

 

[TheAmerican]

Club announcement - Finance update - CCFF repaid, short-term debt replaced with long-term | Tottenham Hotspur

The Club has completed on an institutional fund raising of £250m, with an average tenure of over 20 years and an average interest rate of circa 2.8%. The debt stack includes a new 30-year tranche, with a bullet repayment in 2051 and is a unique financing for any sports entity with the long-term...

www.tottenhamhotspur.com

To compare to our last financial report for those interested: https://www.tottenhamhotspur.com/media/33788/financial-results-year-end-30-june-2020.pdf

Still don't know how the fuck a club our size is so skint when you see clubs with considerably smaller stature bringing players in. Either Levy has absolutely fucked us or there is a complete refusal by our owners to ever invest another penny into the club.

 

[TheAmerican]

No point speculating as to who we might or might not have bought had COVID not happened. All we can say for certain is that Spurs would have earned £200m more over the past 15 months and that that would have opened the way to considerably more and better options in the transfer market. There is also an unconfirmed ITK report that COVID scuppered (or at least stalled) a naming rights deal worth £25m+ per annum.

No question that Levy has made an almighty hash of the footballing side of things over the past couple of years. Deserves all the criticism currently coming his way. But it would be churlish not to acknowledge that COVID put a huge spanner in the works.

From recent discussions it sounds like the stadium debt/income is completely separate from player transfers. If we keep operating on a player sales -> reinvenstment strategy we'll be right back to midtable with the likes of Southampton for the considerable future. You need to invest to compete.

 

[TheAmerican]

FYI here's a list of the establishments that Lewis's restaurant group owns.

Brands of Mitchells & Butlers

Whether you're in the mood for a pint in a comfortable country pub or sharing tapas in a stylish city bar, we have a brand to suit any occasion or mood. Find out more.

www.mbplc.com

Pub, bar, or restaurant tonight? Find your local

No matter where you’re going, who you’re going with, or the occasion you’re celebrating, there’s a Mitchells & Butlers pub, bar, or restaurant near you. Find your new favourite local inside....

www.mbplc.com

Maybe time to stop supporting him in all areas until he invests in the club.

 

[olliec]

Levy needs to go. This club is going so backwards under him. We can’t even sell Sissoko because he’s overvalued him. He shouldn’t be in football because all of his decision making is an absolute shambles. Nobody likes working with him. No wonder Brendan and a hat full of other managers turned us down. Levy is an absolute nightmare to work with. Remember what Sir Alex Ferguson said about him. It seems he’s totally right! "That whole experience was more painful than my hip replacement!” I know he won’t go but I won’t have such an interest in this club until he’s gone. I just can’t support him in anyway at all anymore.

 

[DiVaio]

We can’t even sell Sissoko because he’s overvalued him.

That's not what this news said at all

He shouldn’t be in football because all of his decision making is an absolute shambles.

That's why we have new DoF.

Nobody likes working with him. No wonder Brendan and a hat full of other managers turned us down. Levy is an absolute nightmare to work with. Remember what Sir Alex Ferguson said about him. It seems he’s totally right! "That whole experience was more painful than my hip replacement!”

Yeah, Alex Ferguson said about negotiating with Levy, not working with him. Poch and Jose seemed to be ok when worked under Levy.
Other managers turning us down? Nagelsmann, Flick because they got a better job and that's all