ENIC...

[Deleted member 27995]

Be gone next summer if things don’t improve

Either respond or block me, I'm not having some child who dislikes ownership starting having a shitfit because his line of thought is just one of pure angst.

 

[bubble07]

If an investor gave ENIC 300m on the condition that every penny went on transfers in return for a 20% stake they would say no.

 

[totty]

Jesus.......it's really depressing to be on any spurs chat be in whatsapp groups, social media or forums.

Endless doom and gloom of blame on Levy/Jose/Lewis/ENIC and little blame on the players on the pitch.

Let's be rational.

- True, the club didn't buy in a single season, but wasn't the fans saying "buy who Poch wanted and not any second choice?" Fact is that we have a billion pound debt with the stadium to service and money doesn't drop from Levy's arse. Are Poch's targets available at our wage structure of 200k a week? If we raise the wage structure, how will top earners Hugo and Harry feel?

- And the club stumped up 55m for Ndombele with a 5 year, 200k a week contract who was Poch's choice with a full preseason that fans were crying out for, didnt they? Anyone dare raise a hand and said they are impressed with Tanguy's attitude and commitment so far? You can be the most talented but if the mentality isn't right, the talent won't be out. Just look where Ravel Morrison and Mario Balotelli are.

- We now have a gleaming billion white elephant ,epitome of "Spursy". Can we blame Jose/Levy/Lewis for someone consuming a half cooked bat that lead to the pandemic?

- Jose's in for 7 months, true, the football aint fantastic and we know all about the injuries. Since the restart, can we blame Jose for Dier (who had a good 80mins) that got sold a dummy by Pogba or a brain fart from Michael Oiliver?

- Before anyone says Poch shouldn't be sacked, he's the best manager in my lifetime as a Yid since that Gazza FK. What was his body language like since April 2019? If he's saying he's reached the pinnacle if we on the Champions League, what would the players think? And no away wins from Jan '19 to Nov '19?

- Ok, say some people get their wish and we sack Jose, what would be the payoff be? Who is available out there to come in to rebuild the team? And rebuilding needs money, where's the money coming from?


It's all easy to say with hindsight but fans need to understand, modern football isn't about guts and glory anymore.

That's all died with the influx of broadcast revenue since 1990.

It is a business unless a sugar daddy owns the club. Period.

No Money, No Honey.

The stadium was supposed to generate this revenue, fans were waiting and waiting for the stadium and i don't believe any Yid wouldn't want the stadium but they also have to understand, someone has to pay for it.

BREXIT and COVID are two scenarios that only Dr Hugo Strange could foresee and these two events are costing the club.

 

[DiVaio]

If an investor gave ENIC 300m on the condition that every penny went on transfers in return for a 20% stake they would say no.

Every owner would say no.

 

[SecretLemonadeDrinker]

Thanks for these details mate. You appear to be really well informed. Are these figures in the public domain, or do you perhaps work for ENIC? And when you say you expect ENIC to stick around until they've maximised potential profit, how do you think that "capital appreciation" will be realised? Naming right? The completion of the 3rd phase of the NPD and sale of that housing? A better NFL deal? What are your thoughts?

Ha! No, nothing to do with ENIC! Just another long suffering Spurs fan who just happens to have an interest in business as well as football. Most of the info is in the public domain but difficult to find now and some of it is a bit thin on detail. But this is what I managed to cobble together:

In December 2000, ENIC became the largest shareholder in Spurs by agreeing to buy a 27% shareholding from Alan Sugar for £22m. They already owned just under 3%, bringing their total shareholding to 29.9% - for which they had probably paid in the region of £25m. Sugar retained a 14% shareholding.

Sugar sells for £22m as Levy steps in

Sir Alan Sugar last night picked up the telephone in Florida where he is on holiday and completed the deal that gave Enic a majority stake in Tottenham Hotspur. But supporters expecting a massive influx of money for new signings are likely to be disappointed.

www.theguardian.com

In January 2004, a rights issue raised £15m for the club. ENIC took up their full option but since many shareholders didn't, ENIC (as underwriters) actually contributed a total of £11m of the £15m raised. This naturally had the effect of increasing their overall shareholding - though I can't remember (and can't find) by how much.

Share issue approved

Tottenham Hotspur (Spurs) Football Club is located in North London. The club is also known as Spurs. Tottenham's home ground is White Hart Lane. The club motto is Audere est Facere (To dare is to do).

www.tottenhamhotspur.com

In June 2007, ENIC bought Sugar's remaining 14% shareholding for £25m. This brought their shareholding to 66%. They subsequently had to make an offer at the same price to all other shareholders. ENIC subsequently bought further shares from various shareholders (including Easyjet's Stelios).

Digger: Sugar sacks off Spurs

Sir Alan Sugar has sold his remaining 14.6% stake in Spurs to Enic for £25m.

www.theguardian.com

In August 2009, there was another rights issue to raise £15m towards the new stadium costs. ENIC contributed £14m.

Digger: Approval of new stadium would set stage for sale of Spurs

Speculation rising that planning permission would trigger sell-off

www.theguardian.com

After this and various other smaller share purchases, ENIC's shareholding had risen to 85.5%.

Finally, in 2014, ENIC loaned a further £40m to the club which was subsequently converted into equity. This contributed to enabling the club to clear all debt accrued by the building of the training ground, along with the property purchases and planning costs for the stadium build.

Financial results - Shareholder and Stadium update

New 5-year shirt sponsorship deal

www.tottenhamhotspur.com

It's impossible to discover the exact overall cost to ENIC of their involvement in Spurs because there will have been so many smaller share deals that didn't make the news. But if I had to take a back of a beer mat guess, I'd say that it's probably nudging £150m.

 

[spursfan77]

Our fan base was firmly behind and defended Levy to the hilt when he self imposed a transfer ban on us for no reason other than we were too good. They’ll defend that man even if he bankrupts us.

Now you’re making things up. Everyone on here was absolutely livid we brought nobody in the summer of 2018.

 

[SecretLemonadeDrinker]

Thanks for these details mate. You appear to be really well informed. Are these figures in the public domain, or do you perhaps work for ENIC? And when you say you expect ENIC to stick around until they've maximised potential profit, how do you think that "capital appreciation" will be realised? Naming right? The completion of the 3rd phase of the NPD and sale of that housing? A better NFL deal? What are your thoughts?

Forgot to reply to the second part of your post.

My feeling that ENIC likely still see further potential for significant growth in the value of the club isn't based on anything specific. It's more that the club (and the stadium) is still a long way from realising its potential. Whether Levy is the right man to help the club to achieve that potential is another matter altogether!

 

[nailsy]

Kyle Walker says "hi"...

Sold by Levy for petty cash to strengthen a direct rival - and our football hasn't reached the same heights since.

If ever there was a shining example of Levy's avarice and callous disregard for sporting success, this is it. Case in point.

It was a world record fee for a defender.

 

[spursfan77]

If an investor gave ENIC 300m on the condition that every penny went on transfers in return for a 20% stake they would say no.

Im not going to hit disagree but they have said in the past that they are open to outside investment. I’m certain they wouldn’t be talking about giving away 20% of the club though. Man City sold a 10% stake to Silver lake for £369m. So it would be that amount or less. Although like you say, I am sceptical about or else why not sell of a % to help fund the stadium build etc.

 

[[email protected]]

Forgot to reply to the second part of your post.

My feeling that ENIC likely still see further potential for significant growth in the value of the club isn't based on anything specific. It's more that the club (and the stadium) is still a long way from realising its potential. Whether Levy is the right man to help the club to achieve that potential is another matter altogether!

Thanks for the replies, SLD. They were really informative. And as for your last sentence; most definitely, mate, I couldn't agree more!

 

[yankspurs]

Now you’re making things up. Everyone on here was absolutely livid we brought nobody in the summer of 2018.

For a minute until Donna released a statement under Levy’s name and everyone was singing his fucking praises again

 

[spursfan77]

For a minute until Donna released a statement under Levy’s name and everyone was singing his fucking praises again

It’s all in the 2018 window post morgen thread I suspect if anyone wants to read the shitfest

There was ITK at the time that the board weren’t too worried about what we all thought about not bringing players in anyway.

 

[[email protected]]

Now you’re making things up. Everyone on here was absolutely livid we brought nobody in the summer of 2018.

Mate that's not exactly true! The usual cabal of ENIC shills and foam-at-the-mouth Levy Apologists were adamant that the summer 2018 transfer clusterfuck was completely unavoidable and certainly not their great leader's fault. You must be lucky enough to have Lighty on ignore, or else, never read one of his Missed-Transfer Excuses Extravaganza. It's blistering in its defiance and absurdity; like an old pisshead screaming at the moon. When it comes to failed transfers, The Cult Of Levy is Trump-like in its blind devotion to absolving their idol of even a sniff of perceived culpability, and rabid in their defence of the "Great Man" if you ever dare to criticise him. Check out some of the old posts, mate. The outrage and indignation is quite scary!

 

[Deleted member 27995]

I see we're now all harping back to 2018 as all on Levy ...

 

[JayB]

I see we're now all harping back to 2018 as all on Levy ...

It doesn't have to all be on Levy for him to shoulder a huge amount of the blame. I wrote about this in the Mourinho thread where we're having a similar debate, but Poch's supposed stubbornness that summer came as the result of years of frustration with our transfer dealings. He was repeatedly given bargain basement alternatives to the players he actually wanted. Njie, Janssen, Nkoudou, Aurier, Sissoko as a right winger, none of them were his top choices and none of them worked out.

We also can't forget that Levy fucked around on the Grealish deal that summer and Villa told us to do one after they'd been rescued. If Levy had just stumped up the 25m they were demanding in June 2018 it would have made a massive, massive difference over the past two seasons.

Had it not been for years of failed transfer dealings Poch never would have reached his breaking point. Levy bears blame for the fact that he was not able to work together with Poch to develop a list of legitimate, quality alternatives to the first choice targets in 2018 or in any summer leading up to it. Our scouts were piss poor for years, we had no coherent transfer strategy, and the relationship between Levy and his manager deteriorated completely. All of that has cost us massively, and Levy absolutely deserves a lot of blame for it even if the blame is not his alone.

 

[Deleted member 27995]

It doesn't have to all be on Levy for him to shoulder a huge amount of the blame. I wrote about this in the Mourinho thread where we're having a similar debate, but Poch's supposed stubbornness that summer came as the result of years of frustration with our transfer dealings. He was repeatedly given bargain basement alternatives to the players he actually wanted. Njie, Janssen, Nkoudou, Aurier, Sissoko as a right winger, none of them were his top choices and none of them worked out.

We also can't forget that Levy fucked around on the Grealish deal that summer and Villa told us to do one after they'd been rescued. If Levy had just stumped up the 25m they were demanding in June 2018 it would have made a massive, massive difference over the past two seasons.

Had it not been for years of failed transfer dealings Poch never would have reached his breaking point. Levy bears blame for the fact that he was not able to work together with Poch to develop a list of legitimate, quality alternatives to the first choice targets in 2018 or in any summer leading up to it. Our scouts were piss poor for years, we had no coherent transfer strategy, and the relationship between Levy and his manager deteriorated completely. All of that has cost us massively, and Levy absolutely deserves a lot of blame for it even if the blame is not his alone.

I'm watching KWP play really well against City for Southampton ... The sun doesn't shine out of Pochs arsehole whether levy was a **** to him or not.

 

[JayB]

I'm watching KWP play really well against City for Southampton ... The sun doesn't shine out of Pochs arsehole whether levy was a **** to him or not.

I'm not saying Poch is blameless, and agree that his youth development in particular was a huge failing. But that doesn't mean we should ignore the totality of the circumstances when considering our transfer business between ~2016-2019. There's plenty of blame to go around, and Poch certainly shares in some of it, but Levy is the man running the show and is the one who bears ultimate responsibility.

 

[Deleted member 27995]

I'm not saying Poch is blameless, and agree that his youth development in particular was a huge failing. But that doesn't mean we should ignore the totality of the circumstances when considering our transfer business between ~2016-2019. There's plenty of blame to go around, and Poch certainly shares in some of it, but Levy is the man running the show and is the one who bears ultimate responsibility.

Poch had more control at this club than any manager since ... Levy takes all sorts of blame, just tired of this airbrushed version that people trot out about Poch.

 

[[email protected]]

Poch had more control at this club than any manager since ... Levy takes all sorts of blame, just tired of this airbrushed version that people trot out about Poch.

I'm not sure Poch believed that was the case, mate:
"Pochetinno said at the end of July that the club ought to change his job title back to coach from manager as he was in the dark over transfer activity? “I am not in charge and I know nothing about the situation of my players,” Pochettino said. “Sell, buy players; sign contract, not sign contract – it is not in my hands. It is in the club’s hands and Daniel Levy’s hands.”"

 

[Deleted member 27995]

I'm not sure Poch believed that was the case, mate:
"Pochetinno said at the end of July that the club ought to change his job title back to coach from manager as he was in the dark over transfer activity? “I am not in charge and I know nothing about the situation of my players,” Pochettino said. “Sell, buy players; sign contract, not sign contract – it is not in my hands. It is in the club’s hands and Daniel Levy’s hands.”"

Ah at the end ... Yes, of course that's what I meant mate.