Financial Results, shareholder and stadium update (from Official Site)

[djee]

http://www.tottenhamhotspur.com/news/financial-results-shareholder-and-stadium-update-020414/

 

[sloth]

Liked this bit: "...play the style of football for which we are famous..." I wonder if we should explicitly state what that is somewhere? At least then future managers will know what's required of them before they start...

 

[nidge]

I thought the anti ENIC/Levy brigade said ENIC never invested money into the club or am I misunderstanding this bit.........

In addition to acquiring the non-core properties and financing the Phase 1 build, ENIC has supported the Club by way of an interest free, unsecured loan of £40m. This loan will be converted, subject to shareholder approval, into non-voting preference share capital. A circular will be dispatched to shareholders in due course.

 

[dricha1]

Would be good if any SC financial whizz-ers could explain, in layman terms, the major points out of the news.

Things I see are;
No mention of the increased TV money?
Loan from Enic is being written off (I think)
Enic, not Spurs, have bought a load of property/land in prep for stadium

Oh and the stadium could be up in 3 years!!!

 

[GobbyJJ]

Liked this bit: "...play the style of football for which we are famous..." I wonder if we should explicitly state what that is somewhere? At least then future managers will know what's required of them before they start...

Does this mean we're going back to the club we all fell in love with? I do bloody hope so! Been his harshest critic but if Levy does what he says he will go up in infinitely my estimation. LVG?

 

[sloth]

Would be good if any SC financial whizz-ers could explain, in layman terms, the major points out of the news.

Things I see are;
No mention of the increased TV money?
Loan from Enic is being written off (I think)
Enic, not Spurs, have bought a load of property/land in prep for stadium

Oh and the stadium could be up in 3 years!!!

Accounts are always around 12 months behind, so TV money won't feature until next year. Loan from ENIC is being turned into an investment for which shares will be issued.

 

[yankspurs]

I thought the anti ENIC/Levy brigade said ENIC never invested money into the club or am I misunderstanding this bit.........

Thats all well and good. But we have to see the results. Maybe we'll actually spend more than we sell this window for a change?(not keeping my hopes up)


Cant wait till next years report when the Summer 2013 dealings are reported. Profits gonna be alot higher.

That bit also proves AtlantaYid's ITK about the man on the boat providing an interest free loan. Of course, he was slammed on here when Daniel said fuck a net spend and sold Bale to give us a net profit.

 

[BujuBanton]

Just in time for season ticket renewals.

The cunning fucker

 

[SlunkSoma]

3 years is quite a time to wait, given when we started this project in earnest. Won't be until about 2022 until we are properly seeing the benefits of this. Get used to our current 'predicament', we are here for a while.

It is good news though, and not being laden with debt is not to be sniffed at. Anyone expecting an influx of players in the summer need to manage their expectations, because this squad we have is going to be it for a while.

 

[beats1]

Now this is Huge, and as I expected they are playing this down abit they aren't releasing the figures officially but this year will be huge for them as the:
Wage bill went down(Bale, Gallas, Defoe, Dempsey, Bentley, Parker and etc)
TV Money comes in (around £35mill extra)
Biggers sponsorship deal(stub hub and AIA)
Bigger profit from transfers

I thought the anti ENIC/Levy brigade said ENIC never invested money into the club or am I misunderstanding this bit.........

Tbf a property loan of £40milll against something worth alot more isn't surprising and no doubt the college and supermarket will be helping paying it off, in terms of the money put in to the stadium enic are line to make their money back and potentially then some

 

[sloth]

Thats all well and good. But we have to see the results. Maybe we'll actually spend more than we sell this window for a change?(not keeping my hopes up)


Cant wait till next years report when the Summer 2013 dealings are reported. Profits gonna be alot higher.

That bit also proves AtlantaYid's ITK about the man on the boat providing an interest free loan. Of course, he was slammed on here when Daniel said fuck a net spend and sold Bale to give us a net profit.

On average we spend more than we sell, I believe in terms of transfer fees we're one of the top spenders.

Over the piece it is necessary we make a profit, but in any given year we should be prepared to borrow to invest as long as that investment is sensible. ENIC have shown exactly this willingness over the years.

What would you have done differently?

 

[TheGreenLily]

I thought the anti ENIC/Levy brigade said ENIC never invested money into the club or am I misunderstanding this bit.........

I am anti-Levy'ish...

I just wish he would just worry about the financial side and leave the f-ing football side of things well alone and support the bloody manager.

Like get the players the manager wants and needs, rather than buying them for profits.

 

[berranet]

47.000 on the season waiting list..!? Sounds a bit much..!? If we get the stadium 2017 fine..! But last week I thought it was 2016...

Remember same man said "we are not to intend to sell our best players..." Someone please tell Levy next time wich they are..!

 

[Stoof]

I am anti-Levy'ish...

I just wish he would just worry about the financial side and leave the f-ing football side of things well alone and support the bloody manager.

Like get the players the manager wants and needs, rather than buying them for profits.

Problem is, they're so intrinsically linked that the lines become blurred ...

I hate these blurred lines.

 

[TheGreenLily]

Problem is, they're so intrinsically linked that the lines become blurred ...

I hate these blurred lines.

Agreed, me too

Can't we get a giant rubber and rub these lines out? Or doesn't it work that way?

 

[hillbilly]

Its always good to get an official update. So we have official confirmation that all we are waiting for is Mr Pickles to approve the CPO for Archway Sheet Metal. I think he is stuck in a bog somewhere in Somerset at the moment.

 

[Stoof]

Agreed, me too

Can't we get a giant rubber and rub these lines out? Or doesn't it work that way?

I know you want it.

 

[tototoner]

Would fans be happy with finishing 6th - 10th for 5 seasons if it meant building a new stadium because I cannot see how we can afford the investment in players needed to push on to be Top 4 regulars and build the new stadium.

I can see a number of frustrating seasons ahead

And to Levy - investing in the squad, developing the squad and strenghtening in key positions looks nice on paper but the reality is you sell our most influencial players so its always 1 step forward and 2 back. Fed up with his empty promises.

 

[dagraham]

Tbf a property loan of £40milll against something worth alot more isn't surprising and no doubt the college and supermarket will be helping paying it off, in terms of the money put in to the stadium enic are line to make their money back and potentially then some

Yeah, its important people realise that this loan is being converted to equity and is not the same as ENIC/Joe Lewis providing a £40m net investment in the playing squad.

I'm not making a judgement on one way or another but it doesn't prove ENIC are any less or more serious about investing in the football team.

One thing this statement highights is just how difficult it is for a London club to get a new stadium project up and running. It's so much easier in other parts of the country with less built up areas and problems with CPO's etc. Frustratingly, the gooners really came up trumps in this regard and at the right time as well. Wankers.

 

[Ossie'sAardvark]

Yeah, its important people realise that this loan is being converted to equity and is not the same as ENIC/Joe Lewis providing a £40m net investment in the playing squad.

I'm not making a judgement on one way or another but it doesn't prove ENIC are any less or more serious about investing in the football team.

One thing this statement highights is just how difficult it is for a London club to get a new stadium project up and running. It's so much easier in other parts of the country with less built up areas and problems with CPO's etc. Frustratingly, the gooners really came up trumps in this regard and at the right time as well. Wankers.

Is that like a partial remortgaging of my house? Also is that the same amount that Boris was giving us to tidy up the area or did that fall through? I'm clueless to what has happened re: stadium.