Spurs Figures & Chairmans Statement

[TheChosenOne]

from THFC Official Site.. lot of reading -

http://www.spurs.co.uk/news/articles/preliminaryfinancialresults171007.html

 

[orkneyspur]

Saw the summary of this on Sky this morning. Impressive results and all before this years telly increase!
Bye Bye Kemsley. :adios:

 

[lennon4england]

Tom Huddlestone and Jermaine Jenas were both offered and signed new, extended contracts. We very much hope Jermain Defoe will also extend his contract with the Club. We have progressively introduced an increased element of performance related remuneration into player contracts designed to reward success.

Our review of Stadium options is now substantially complete. I can report that a limited number of potential sites have been identified in the London Boroughs of Enfield and Haringey including the expansion possibilities of the existing stadium. These obviously remain highly sensitive on commercial grounds, but we are now working to a timetable that will see us commit to one option during the first half of 2008.

Interesting points.
Also i didnt realise Kaboul and Boateng were combined £14.

 

[SpurSince57]

£13.4m, apparently, but what's £600k between friends?

 

[Bus-Conductor]

Some highlights of the "is Levy's policy hurting us" :

Turnover £104 m (2006 £73m)

Profit £32 m (before football trading and depriciation)
(2006 4.6m)

Player spending since June 2006 81 m (that's just spending not net)

Now I know that I am being a little harsh, as Joey was never doubting levy's running of the financial side of the club, but one aspect feeds the other. it is only by investing wisely that we have performed bette on the pitch and superb fiscal management means we are well placed to be able to buy our way into or out of any playing needs. In other words, as with Sugar to a degree, it is only by astute fiscal management that the football club can grow, including on the pitch.

The difference between Sugar's management is that he trusted managers with all facets of the footballing side, which was ultimately his undoing, as he always gave them money to spend.

Levy, by adopting the DOF model, and an inherent value biased strategy has ensured that we do not suffer the pitfalls and whims of managers who's judgement (Thatcher 5m etc) can leave a footballing and financial black hole.

 

[llamafarmer]

£13.4m, apparently, but what's £600k between friends?

£300K each. I'll take that if nobody else is!

 

[tRiKS]

I've read it all and it's generally good stuff. the player spend of 67 mil (not including Kaboul and Prince) makes a mockery of the recent published bile about us spending 80m + in that time period.

I find the intangible asset side of things interesting. There must be a rule about value verses age and length of contract when working that out but it obviously ignores loss of form or injury. It seems a very fragile way to value a company. I guess if every other football club is value in the same way it's fair... everything is relative after all.

Over all i think that document has more good bits that i can use in arguments with other fans and fickle insiders than it has bad bits.

the Kemesley mention was polite...call me a cyinc but it was a bit RIP.

the mangement structure... was he specifically including Jol and cementing praise in that or was he making sure we focused from the top down in that the DOF was the key to stabilty which allows coaches to come and go?

 

[justfookinhitit]

Our review of Stadium options is now substantially complete. I can report that a limited number of potential sites have been identified in the London Boroughs of Enfield and Haringey including the expansion possibilities of the existing stadium. These obviously remain highly sensitive on commercial grounds, but we are now working to a timetable that will see us commit to one option during the first half of 2008.

This is the bit that interests me. It starts to crank up the pressure on Harringey council that if they won't play ball there are other options, both within and outside the borough. We'll only ever really be able to step up to the next level as a club when we have enabled ourselves to drive up the revenue and profit at the club (not saying that the figures aren't good, but they pale into comparison with the gooners, manure etc) and that can only happen with an increased stadium capacity.

 

[Bus-Conductor]

I've read it all and it's generally good stuff. the player spend of 67 mil (not including Kaboul and Prince) makes a mockery of the recent published bile about us spending 80m + in that time period.

I find the intangible asset side of things interesting. There must be a rule about value verses age and length of contract when working that out but it obviously ignores loss of form or injury. It seems a very fragile way to value a company. I guess if every other football club is value in the same way it's fair... everything is relative after all.

Over all i think that document has more good bits that i can use in arguments with other fans and fickle insiders than it has bad bits.

the Kemesley mention was polite...call me a cyinc but it was a bit RIP.

the mangement structure... was he specifically including Jol and cementing praise in that or was he making sure we focused from the top down in that the DOF was the key to stabilty which allows coaches to come and go?

But 67m plus 13.4 (kaboul + KPB) is 80+ mil.

 

[Dougal]

Woohoo! I’m rich! :dance:

http://telegraph.digitallook.com/te...13856&record_search=1&search_phrase=tottenham

 

[TheChosenOne]

One thing has just struck me.. The Carrick transfer to Man U was completed
offically on 31/7/2006 but the alleged £18.6mill fee wasn't mentioned clearly.

I know this is performance related and reckon the funds will probably becoming to THFC in instalments

 

[Stoof]

I find the intangible asset side of things interesting. There must be a rule about value verses age and length of contract when working that out but it obviously ignores loss of form or injury. It seems a very fragile way to value a company. I guess if every other football club is value in the same way it's fair... everything is relative after all.

I think the intangible assets will include IP and Goodwill too. :up:

:lol: @ Amortisation of intangible assets. No wonder people get scared of accounts: player loans?

 

[arthurgrimsdell]

One thing has just struck me.. The Carrick transfer to Man U was completed
offically on 31/7/2006 but the alleged £18.6mill fee wasn't mentioned clearly.

I know this is performance related and reckon the funds will probably becoming to THFC in instalments

It was clearly mentioned and taken into account in the Accounts. A figure of £12 million net profit is mentioned, which is net of the written down original cost of his transfer. Since United won the Premiership and Carrick played for England last season, the only add-ons I would envisage would be if United won the CL in the near future.

 

[arthurgrimsdell]

I think the intangible assets will include IP and Goodwill too. :up:

:lol: @ Amortisation of intangible assets. No wonder people get scared of accounts: player loans?

Intangible assets are the original transfer fees paid out for incoming players less the amortisation (writing down) of those fees over the length of the original contract. So, for example, Ledley King would be valued at zero, because we have never paid a transfer fee for him. Berbatov would be valued at £10.9 million less , say, one fifth of £10.9 million (if his contract was 5 years). So his value in the accounts would be about £8.7 million. We can see that this vastly undervalues these assets, and this is commented on in the notes, where it is stated that the players are insured for "hundreds of millions".

 

[arthurgrimsdell]

This is the bit that interests me. It starts to crank up the pressure on Harringey council that if they won't play ball there are other options, both within and outside the borough. We'll only ever really be able to step up to the next level as a club when we have enabled ourselves to drive up the revenue and profit at the club (not saying that the figures aren't good, but they pale into comparison with the gooners, manure etc) and that can only happen with an increased stadium capacity.

I think you'll find that our profit before tax at about £27 million is about five times the equivalent figure for Arsenal. The figure they broadcast to the world was their operating profit, which is before interest payments. Their pre-tax profit was about £5 million which they kept quiet about, because it shows they are still on a knife edge and a year without CL football would still be a disaster. This is why they had such a motive (and the opportunity) to poison our players 18 months ago, though that is all water under the bridge (or down the drains) at this stage.

Against that, We have declared a dividend for the first time in about twenty years, and our tax bill will be considerably higher than Arsenal's because of our bigger profits, so the difference in what each club retains will be less.

 

[Stoof]

Intangible assets are the original transfer fees paid out for incoming players less the amortisation (writing down) of those fees over the length of the original contract. So, for example, Ledley King would be valued at zero, because we have never paid a transfer fee for him. Berbatov would be valued at £10.9 million less , say, one fifth of £10.9 million (if his contract was 5 years). So his value in the accounts would be about £8.7 million. We can see that this vastly undervalues these assets, and this is commented on in the notes, where it is stated that the players are insured for "hundreds of millions".

So there's no IP? :-( Aww.

That's not the overly historical meaning of intangibles though?

Oh OK, amortisation is the regular 'divider' of the value. So an amortised loan is one that's paid back in regular intervals in regular amounts, for example?

 

[DC_Boy]

So there's no IP? :-( Aww.

That's not the overly historical meaning of intangibles though?

Oh OK, amortisation is the regular 'divider' of the value. So an amortised loan is one that's paid back in regular intervals in regular amounts, for example?

Hi Stoof - What's IP?

 

[DC_Boy]

Excellent figure - when Deloitte publish their 'world's rich list' we might be up to 11th this time round - a fantastic achievement considering no CL and a too small stadium

 

[TheChosenOne]

It was clearly mentioned and taken into account in the Accounts. A figure of £12 million net profit is mentioned, which is net of the written down original cost of his transfer. Since United won the Premiership and Carrick played for England last season, the only add-ons I would envisage would be if United won the CL in the near future.

Well that facking well told me did'nt it ?

I dunno nuffink anymore.

quote bbc sports website 2006...
Manchester United chief executive David Gill has defended the transfer fee paid to Tottenham for Michael Carrick.

Gill revealed that the basic fee for the 25-year-old midfielder was £14m, rising to £18.6m depending on the success of the club and the player. "The figure is £14m and that is appropriate," Gill said on Wednesday.

 

[DC_Boy]

Rather than wading thru the accounts can someone give me the headline assets figures - thanks

Incidentally I'll use this space here to publicly admit my doubts about Kaboul's price seem to have been wrong - seems we did pay £8m+ for him - which was an awful lot -

Maybe the Board was flush with all the profits they knew were coming