NASDAQ: Fireside Chat with Levy and Ledley
- Thread starter eddiev14
- Start date
I think Levy is a strong chairman but also putting a great spin on things. We have barely had a net spend for a long time now. We are no where close to spending more than our revenue so to say the current climate is unsustainable is not entirely the full picture.
We should still be in the position to make select signings that add genuine quality even if expensive vs. waiting for the market to correct. Its like buying a property or a stock during a boom where half way up things look toppy and then they can keep running. You might look right when things crash eventually but the rise up can leave you behind.
The way Levy runs the club is great but tomorrow is always a bigger focus than today for us. Has been the 25 years ive supported the club. Right now for the first time in years we have a squad for today so it would be nice to take a couple of risks, pay something a bit toppy without damaging our future prospects, but cement the squad to be in a real position to challenge for something this year vs. always having one eye on the future
We should still be in the position to make select signings that add genuine quality even if expensive vs. waiting for the market to correct. Its like buying a property or a stock during a boom where half way up things look toppy and then they can keep running. You might look right when things crash eventually but the rise up can leave you behind.
The way Levy runs the club is great but tomorrow is always a bigger focus than today for us. Has been the 25 years ive supported the club. Right now for the first time in years we have a squad for today so it would be nice to take a couple of risks, pay something a bit toppy without damaging our future prospects, but cement the squad to be in a real position to challenge for something this year vs. always having one eye on the future
we took risks before need to use our academy current tranfer market will eventually crash and burn
Hercules
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So you think.
bubble07
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- Dec 27, 2004
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Mourinho
"I think until now they spent zero pounds, right? For me the dimension of their investment is amazing. They keep everybody they want to keep. They keep Dele Alli, Kane and Alderweireld, they keep Eric Dier, they keep everyone they want to keep.
"They sold Kyle Walker [to Manchester City] I think because they wanted to sell. And probably because they think Trippier is as good as Walker. And he's younger than Walker. They keep everyone they want to keep"
He is scared of us
"I think until now they spent zero pounds, right? For me the dimension of their investment is amazing. They keep everybody they want to keep. They keep Dele Alli, Kane and Alderweireld, they keep Eric Dier, they keep everyone they want to keep.
"They sold Kyle Walker [to Manchester City] I think because they wanted to sell. And probably because they think Trippier is as good as Walker. And he's younger than Walker. They keep everyone they want to keep"
He is scared of us
The prize money we now receive is huge! We have sold a long list of players from Bentaleb to Walker for serious £££. £0.0 has been reinvested back into improving the squad.
I agree we should use our academy but just because Levy doesnt like current VFM doesnt mean he shouldnt suck it up and carefully reinvest into 1-2 quality players that even if expensive will contribute for the coming years....
It seems the lesson he has taken from the Sissoko debacle is rather than rush buy some dross at the end of the window for big money just dont spend any money at all!
rossdapep
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Fixed
BringBack_leGin
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Love all the amateur business advisers in this thread purporting to know better than a guy who has successfully run large corporates (including football clubs) for many decades, has a 1st in economics from Cambridge and has overseen the rise of this club to 2nd best in the country when what he took over had never even finished in the premier leagues top six.
If Levy thinks that the current spending can't go on forever, I trust him on that.
If Levy thinks that the current spending can't go on forever, I trust him on that.
FibreOpticJesus
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No just respectful and condescending at the same time!
TheVoiceofReason
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Pretty sure that every single word that comes out of Jose's mouth has some kind of alterior motive hidden underneath it.
There's 2 years left of the current tv deal, I'm sure they'll start the negotiations for the next deal towards the end of the new season, I've read a number of reports that viewing figures are down across the board. The next deal will not be 70% higher than this one (like this one was against the one before) I could see it being lower and a lot of clubs struggling with their finances. I think this is part of the reason levy is holding back spending. If the new deal is on par with this one, we could be in a strong position to spend a good amount going into the new stadium
Matrix
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Mate the Sugar years were the worst years as a Spurs fan. Before that we regularly were in the top 4 behind Liverpool, Everton and maybe the Goons so credit to him for getting us back up there.
We are in a position where we cannot rest on our laurels and currently we have a weaker squad than the one that finished second (minus Walker). Now do we stay static whilst the teams around us try to improve or do we move the goalposts for the teams playing catchup by adding to an already great set of players so we stay ahead?
We are not asking for a Man C or Man U type of overhaul, just 2/3 players to keep things fresh and keep other players on their toes.
Fergie was good at evolving the team with one or 2 buys and that's what we need IMO. Not some last minute over priced deal on deadline day who we are looking to move on a season later.
Investment in this team is needed to kick on from last season.
What do we know though? Poch might actually be the one not wanting to add.....
tototoner
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- Mar 21, 2004
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BBC article on Levy comments in that interview
http://m.bbc.co.uk/sport/football/40722879
Chairman Daniel Levy has defended Tottenham's lack of transfer activity this summer and claimed the spending by other Premier League clubs is unsustainable.
More than £850m has been spent by top-flight sides in the transfer window, which ends on 31 August.
But Tottenham, who sold Kyle Walker to Manchester City for £45m this month, have not made any signings.
"We have a duty to manage the club appropriately," said Levy.
"Some of the activity that is going on at the moment is just impossible for it to be sustainable.
"Somebody spending £200m more than they're earning, eventually it catches up with you. And you can't keep doing it."
Accountancy firm Deloitte said Premier League sides are on course to surpass the record £1.165bn they spent last summer.
Manchester United manager Jose Mourinho said last week: "I'm used to clubs paying big for big players. Now everybody pays big money for good players."
Walker's departure aside, Spurs have retained the same squad that finished second to Chelsea in the league last season.
The club are in the process of building a new 61,000-seat stadium, which is expected to cost £750m and is scheduled to open next year.
Speaking at a Nasdaq Q&A in New York, Levy said: "Obviously when you're building a stadium of this magnitude and it all has to be privately financed - there's no state help whatsoever - it is a challenge.
"We have to find the right balance but I can honestly say it is not impacting us on transfer activity because we are not yet in a place where we have found a player that we want to buy who we cannot afford to buy."
Mauricio Pochettino's side, who are in the United States on their pre-season tour, beat France's Paris St-Germain 4-2 at the weekend, with 17-year-old midfielder Tashan Oakley-Boothe playing 45 minutes.
Levy said: "Our position on transfers is that we have a coach who very much believes in the academy, so unless we can find a player that makes a difference we would rather give one of our young academy players a chance.
"The academy is important because if we produce our own players we don't have to spend £20m or £30m on a player.
"An academy player has that affinity with the club and that's what the fans want to see."
http://m.bbc.co.uk/sport/football/40722879
Chairman Daniel Levy has defended Tottenham's lack of transfer activity this summer and claimed the spending by other Premier League clubs is unsustainable.
More than £850m has been spent by top-flight sides in the transfer window, which ends on 31 August.
But Tottenham, who sold Kyle Walker to Manchester City for £45m this month, have not made any signings.
"We have a duty to manage the club appropriately," said Levy.
"Some of the activity that is going on at the moment is just impossible for it to be sustainable.
"Somebody spending £200m more than they're earning, eventually it catches up with you. And you can't keep doing it."
Accountancy firm Deloitte said Premier League sides are on course to surpass the record £1.165bn they spent last summer.
Manchester United manager Jose Mourinho said last week: "I'm used to clubs paying big for big players. Now everybody pays big money for good players."
Walker's departure aside, Spurs have retained the same squad that finished second to Chelsea in the league last season.
The club are in the process of building a new 61,000-seat stadium, which is expected to cost £750m and is scheduled to open next year.
Speaking at a Nasdaq Q&A in New York, Levy said: "Obviously when you're building a stadium of this magnitude and it all has to be privately financed - there's no state help whatsoever - it is a challenge.
"We have to find the right balance but I can honestly say it is not impacting us on transfer activity because we are not yet in a place where we have found a player that we want to buy who we cannot afford to buy."
Mauricio Pochettino's side, who are in the United States on their pre-season tour, beat France's Paris St-Germain 4-2 at the weekend, with 17-year-old midfielder Tashan Oakley-Boothe playing 45 minutes.
Levy said: "Our position on transfers is that we have a coach who very much believes in the academy, so unless we can find a player that makes a difference we would rather give one of our young academy players a chance.
"The academy is important because if we produce our own players we don't have to spend £20m or £30m on a player.
"An academy player has that affinity with the club and that's what the fans want to see."
It's going to be really interesting to see how Levy copes with the club's wage bill in the next 2-3 years. I'm also interested in whether the club even ratchets up spending once a large portion of the stadium is paid off and revenues surpass 400 million pounds a year. There's been this long-standing belief among Spurs fans that additional gate receipts and other ancillary stadium revenues will allow the club to massively increase the wage bill and compete with top clubs in the transfer market when it comes to fees. I don't think this is going to be the case. There's nothing binding ENIC to take the windfall from the new stadium and plough it right back into the playing squad (Arsenal's board/ownership certainly didn't). They've seen a 500% increase in the last decade in television money coming into the club's coffers, but corresponding spending on wages and transfers has been just a fraction of that (our wage bill has only risen roughly 10% from 2010-2011 to 2015-2016 according club financial statements). Now one can argue that they are taking that surplus cash and building a debt free stadium, which they will 100% own (great for them), and once the debt is cleared, they'll begin spending massive amounts in earnest. I don't know if Levy's own words in the above article and history suggest he'll be overseeing that.
As far as future television deals, I think it's folly to project a collapse. Look at the NBA, MLB and NFL. All have had sagging or flat ratings for some time and all have seen exponential increases in television revenue because they are established brands with loyal followings. The EPL is going through a worldwide boom. Just read this article on a projected tripling of overseas television money in the next 5 years (http://www.dailymail.co.uk/sport/fo...ue-earn-billions-thanks-foreign-TV-deals.html). What I think is more likely to happen than a collapse in television revenue is a massive fan backlash to all the money being earned and spent that ultimately results in clubs acquiescing to ticket price caps. Gate receipts already make up a dwindling share of the top clubs revenues. Placating supporters with cheap tickets while gobbling up television and commercial cash seems like a way to keep fans loyal, and we've already seen the league implement this for away tickets starting this past season.
As far as future television deals, I think it's folly to project a collapse. Look at the NBA, MLB and NFL. All have had sagging or flat ratings for some time and all have seen exponential increases in television revenue because they are established brands with loyal followings. The EPL is going through a worldwide boom. Just read this article on a projected tripling of overseas television money in the next 5 years (http://www.dailymail.co.uk/sport/fo...ue-earn-billions-thanks-foreign-TV-deals.html). What I think is more likely to happen than a collapse in television revenue is a massive fan backlash to all the money being earned and spent that ultimately results in clubs acquiescing to ticket price caps. Gate receipts already make up a dwindling share of the top clubs revenues. Placating supporters with cheap tickets while gobbling up television and commercial cash seems like a way to keep fans loyal, and we've already seen the league implement this for away tickets starting this past season.
Shadydan
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- Jul 7, 2012
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Our net spend was £6.7m last summer.
Great point! Interesting though. Far more insightful and interesting in a football forum discussing the club than blindly stating Daniel Levy is clever and had a degree from Cambridge so I will trust him
Metalhead
But that's a debate for another thread.....
- Nov 24, 2013
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You might be right, just like we have been getting dire warnings about the London housing market being unsustainable for years without anything getting in the way of its growth. Nevertheless, Levy is never going to treat Spurs like a plaything. Even if there wasn't a new stadium to finance, even if he wasn't responsible to ENIC he still wouldn't as it's not in his nature.
eddiev14
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- Jan 18, 2005
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- Thread starter
- #40
Pochettino's reaction to being told what DL said I find pretty interesting.
He was told that DL had said we don't need to sign players and will use the academy instead (which as we know is not exactly what he said, typical journos).
Poch replied, and it came across like he was a bit miffed:
I didn't hear that.
When was this? This morning?
I didn't hear because I wasn't at the Nasdaq. I arrived late. I didn't hear him.
Then you know for me it's so difficult to read in English. Only my assistant Jesus sometimes explains what happens in the media.
But I didn't hear and I don't know.
It's better if you ask him, if you have the possibility, or I will ask him tomorrow, if I have the possibility, if it's true or not.
I think it's important to speak about context. I don't know how was the interview from him, whether it's true or not. I did not hear that from him in private.
I think I explained many, many times my philosophy. My philosophy is to try to adapt myself in the club that offer the job.
He was told that DL had said we don't need to sign players and will use the academy instead (which as we know is not exactly what he said, typical journos).
Poch replied, and it came across like he was a bit miffed:
I didn't hear that.
When was this? This morning?
I didn't hear because I wasn't at the Nasdaq. I arrived late. I didn't hear him.
Then you know for me it's so difficult to read in English. Only my assistant Jesus sometimes explains what happens in the media.
But I didn't hear and I don't know.
It's better if you ask him, if you have the possibility, or I will ask him tomorrow, if I have the possibility, if it's true or not.
I think it's important to speak about context. I don't know how was the interview from him, whether it's true or not. I did not hear that from him in private.
I think I explained many, many times my philosophy. My philosophy is to try to adapt myself in the club that offer the job.
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