ENIC...

whitestreak

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Dec 8, 2006
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It’s not £40m+ it’s just over £30m.
These are bonds not redeemable for 20 + years paying a blended coupon of 2,2% the servicing cost are £14m PA. The capital repayments may come from the naming rights deal at say £400m there is basically 20 years to sort this out.
Of course we need to deliver on the pitch. IMHO the next really important event will be the appointment of Luis Campos in a couple of months. If he comes, then the "Jigsaw" will take definable shape. At that point we will see the chequebook open and the club start to really motor. That could be by this summer.
For any optimists out there a question. With a fully fit side when and if the season re-commences, how many points can we amass. Bearing in mind we were doing ok under Jose before this injury glut wiped us out.
Napoleon once said that his best generals were his lucky ones! Well Mourinho may well be EFFingg lucky ...if the dice fall his way he could come 5th and qualify for the CL. We came 4th and did not qualify. Trouble is that would be so un-spursy. But typical for Mourinho
 

Saoirse

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Aug 20, 2013
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Apologies if someone has already asked the question in this thread or another, but are recent/current events likely to be slightly less grave for Spurs (because of moving to the new stadium just in time) than for other clubs (Aston Villa will surely be in huge financial trouble for a variety of reasons), or more grave (repayments on the new stadium and no matchday income for the foreseeable future)?

I'd have thought we're in a far stronger financial position than we would have been in the old stadium. But I'm open to being corrected.
The key thing to look at for a PL-level club is the wage-to-turnover revenue, since this is the key expendidure which can't easily be lowered in a crisis. Ours is very good. If we're in trouble, it's because literally the entire sport it.
 

SirHarryHotspur

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Aug 9, 2017
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1,217
Reckon the ENIC out brigade will have to go and lie down in a darkened room for a few years, with the virus crisis football club values have plummeted, can't see ENIC selling out for some time, so more teeth gnashing at every transfer window for a few more seasons.
 
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wrd

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Aug 22, 2014
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As recently as 18 March I said: “We shall all need to work together to ensure the impact of this crisis does not undermine the future stability of the Club.” The decision by governments around the world to effectively close down economies with unheard of peacetime impacts on civil liberties in order to minimise the terrible effects of the COVID-19 pandemic is the right one to protect human lives. The crushing devastation on industries in many countries, the inter-dependence of international trade and travel in every aspect of our daily life is only now beginning to be felt. Every person on this planet will be affected and in my lifetime I cannot think of something so impactful.

When I read or hear stories about player transfers this summer like nothing has happened, people need to wake up to the enormity of what is happening around us. With over 786,000 infected, nearly 38,000 deaths and large segments of the world in lockdown we need to realise that football cannot operate in a bubble. We maybe the eighth largest Club in the world by revenue according to the Deloitte survey but all that historical data is totally irrelevant as this virus has no boundaries.

The Club’s operations have effectively ceased, some of our fans will have lost their jobs and most will be worried about their future. Our sponsors will be concerned about their businesses and our media partners have no certainty when we may play games again or whether we will be allowed to play in front of our fans. In the meantime, the Club has an annual cost base running into hundreds of millions of pounds.

We have seen some of the biggest clubs in the world such as Barcelona, Bayern Munich and Juventus take steps to reduce their costs. Yesterday, having already taken steps to reduce costs, we ourselves made the difficult decision – in order to protect jobs – to reduce the remuneration of all 550 non-playing directors and employees for April and May by 20% utilising, where appropriate, the Government’s furlough scheme. We shall continue to review this position.

We hope the current discussions between the Premier League, PFA and LMA will result in players and coaches doing their bit for the football eco system.

I have no doubt we will get through this crisis but life will take some time to get back to normal. I hope we will never take for granted so many basic things such as getting off the train at Seven Sisters, walking along Tottenham High Road, entering our stadium with our family and friends, and buying a beer and pie ahead of watching Spurs play at home.

Many families will have lost loved ones, many businesses will have been destroyed, millions of jobs lost and many Clubs whether big or small may struggle to exist. It is incumbent on me as Chairman to ensure we do everything we can to protect our employees, our fans, our partners, our Club for future generations – and equally important – our wider community where we have such an immense sense of responsibility.

I wish everyone good health, a speedy return to normal life and watching Spurs at home in front of our fans. Stay safe.
 

wrd

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I want everybody to know, the above was Levy and that I personally did not cut the salaries by 20%
 

dontcallme

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Mar 18, 2005
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I am certainly no economist but have been wondering how this will affect clubs and if we will come out better or worse in comparison to our competitors.

We have the stadium debt but one of the best turnovers compared to wage bill in the league.

Will Levy’s sensible/unambitious way of running club benefit us in time of crisis?
 

coys200

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May 22, 2017
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8,436
Wait till you see levy just got £4m salary + £3m for stadium.

* Although as owns 30% and takes no dividend it could be justified
 

ILS

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Jun 21, 2008
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The players should be offering their salaries to the needy at this time.
They will argue that their contracts are heavily weighted by performance bonuses, so in effect have already taken a significant pay cut due to the lack of action.
 

Klinsmannesque

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Jul 26, 2013
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676
The players should be offering their salaries to the needy at this time.
Players will have their own expenses and financial commitments I am sure, so foregoing their whole salary is a bit much - but there is certainly scope for them to be offering as much financial support as they can.

We hope the current discussions between the Premier League, PFA and LMA will result in players and coaches doing their bit for the football eco system.

I hope that this comes to fruition as they are in a good position to help so many.

Side note: Wonder if Levy will try for a 3 month mortgage holiday on the stadium....
 

LukaKranjcar

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May 8, 2010
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516
Hes right though isnt he? This has the potential to change life forever in so many ways, let alone just football. Whether or not we buy X player from X club is so irrelevant.
 

punky

ONE MICHAEL DAWSON!
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Sep 23, 2008
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I'm probably the biggest BSOL here but this is absolutely fucking disgusting from Levy.

The club made a world-record profit of £114m in 17/18 season and £68m in 18/19 season. The club is one of the most rececession-proof industries and regardless of how long this virus goes on, will be just fine.

To reduce the lowest paid staff salaries by 20% and then shift the rest of what they will be paid onto the country so effectively everyone in the country will be paying their wages is despicable. On top of this there may be a long delay before they can get their furloughed wages from the government.

Also whilst it's not the players responsibility to sustain the club's staff, they should have a look in the mirror right now too.
 
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