Tottenham Takeover Talk

[Metalhead]

That is what they are saying now to avoid scrutiny. Just look back last year when it all came out & the line was "business as usual. just estate planning. joe lewis is still the owner." Clearly they did that move to try & shield the club. But it isnt going to work if the DOJ cant find the proceeds made from this illegal venture as they can seize other assets. Joe Lewis is still the owner of 70% of ENIC just like Daniel Levy is the owner of the other 30%.

 

[Bluto Blutarsky]

That is what they are saying now to avoid scrutiny. Just look back last year when it all came out & the line was "business as usual. just estate planning. joe lewis is still the owner." Clearly they did that move to try & shield the club. But it isnt going to work if the DOJ cant find the proceeds made from this illegal venture as they can seize other assets. Joe Lewis is still the owner of 70% of ENIC just like Daniel Levy is the owner of the other 30%.

A fewthoughts:

First, this investigation has been in the works for a while, and Joe would have been aware that he was likely to be indicted. That probably was the impetus to shifting ownership - to avoid scrutiny from PL when this all hit.

Second, Joe himself does not have the proceeds from the insider trading so there are no proceeds to chase down.

Third, Joe has already put up his yacht and planes as collateral for bail. The US won't have to look far to find sufficient assets. Joe also has interests in plenty of US real estate that would be easily seized/foreclosed.

Fourth, the most likely resolution here is a settlement where Lewis writes a rather sizable check - without any issues to ENIC - thus Spurs.

 

[CanadaSpurs]

Potentially his family members. The trustees dont have to distribute it to them, it is at their discretion. Theoretically it could sit in the Trust in perpetuity and nothing happen to it, which is the worst case scenario.

I mean there’s literally a rule against that so…

 

[jbstarr14]

So we're getting US owners, then.

Yeah, The Treasury Department.

 

[spursfan77]

I mean there’s literally a rule against that so…

Ok perpetuity the wrong word. For the length of the trust period then, but we don’t know how long that is, 25 years, 50 years. Might as well be for ever though if it’s sat in ENIC for that long with nothing happening to the club in terms of a sale. Nobody wants that.

 

[CanadaSpurs]

I mean there’s literally a rule against that so…

I joked, but apparently the Bahamas did away with the rule by statute, so you may well be able to establish a perpetual Bahamian trust.

 

[tony0379]

So we're getting US owners, then.

Knowing us, it'll be George W Bush

 

[SpursSince1980]

That is what they are saying now to avoid scrutiny. Just look back last year when it all came out & the line was "business as usual. just estate planning. joe lewis is still the owner." Clearly they did that move to try & shield the club. But it isnt going to work if the DOJ cant find the proceeds made from this illegal venture as they can seize other assets. Joe Lewis is still the owner of 70% of ENIC just like Daniel Levy is the owner of the other 30%.

No they can’t. Unless it’s under something like a RICO act conviction. They can’t and won’t touch an asset like ENIC, as the indictment is solely aimed at one person, not a group of people, whom played silly buggers by sharing insider trading information. He will bear the brunt of the punishment. He may be forced to sell/liquidiate assets. But something like ENIC is ring fenced, unless other board members acted with shared criminal intent. Then you get RICO. Then we would be in a pickle. But it won’t. So, no need to fret.

 

[Booney]

I joked, but apparently the Bahamas did away with the rule by statute, so you may well be able to establish a perpetual Bahamian trust.

“Perpetual Bahamian trust’s blue and white army!!”

Has got a bit of a ring to it

 

[sundanceyid10]

The worst of both worlds.

Indeed any scenario where Levy sticks around is the worst of all outcomes.
I just want the bloke gone ASAP.

 

[ShriekinKnight]

It's sad days when I am most excited by checking this thread every day and hoping there is some kind of news or breakthrough.

I know it's daydream kind of stuff but I just hope the sudden halt in in transfers is due to takeover talks (or minority investment) is more advanced than we know (but I know it's just Tottenham being Tottenham)

 

[Lea]

A fewthoughts:

First, this investigation has been in the works for a while, and Joe would have been aware that he was likely to be indicted. That probably was the impetus to shifting ownership - to avoid scrutiny from PL when this all hit.

Second, Joe himself does not have the proceeds from the insider trading so there are no proceeds to chase down.

Third, Joe has already put up his yacht and planes as collateral for bail. The US won't have to look far to find sufficient assets. Joe also has interests in plenty of US real estate that would be easily seized/foreclosed.

Fourth, the most likely resolution here is a settlement where Lewis writes a rather sizable check - without any issues to ENIC - thus Spurs.

Finaly somebody with common sense

 

[Pochemon94]

All the sounds regarding a sale all have the same thing in common. Levy staying with his current role. He will never give it up. I've given up hoping that he will leave when the team is sold. But this is his golden goose. If I was in his position you'd have to rip this asset from my cold dead hands. I think if the voices got loud enough and fans boycotted he would just stop showing up to games and work strictly out of his office until it blows over. I do think he is great in regards to kingdom that he has built but holy shit is he horrible on the football side and is surrounded by strictly yes people. Only hope is he gets caught drink driving or shtoops someone not his wife.

 

[Metalhead]

All the sounds regarding a sale all have the same thing in common. Levy staying with his current role. He will never give it up. I've given up hoping that he will leave when the team is sold. But this is his golden goose. If I was in his position you'd have to rip this asset from my cold dead hands. I think if the voices got loud enough and fans boycotted he would just stop showing up to games and work strictly out of his office until it blows over. I do think he is great in regards to kingdom that he has built but holy shit is he horrible on the football side and is surrounded by strictly yes people. Only hope is he gets caught drink driving or shtoops someone not his wife.

I think that anything that has taken as much of someone's life as the club has for him - I can see why he'd be reluctant to let go. It's absorbed his every waking moment for 20+ years. He'll be extremely reluctant to let go.

 

[yido_number1]

I think that anything that has taken as much of someone's life as the club has for him - I can see why he'd be reluctant to let go. It's absorbed his every waking moment for 20+ years. He'll be extremely reluctant to let go.

Another year of the abuse he got last year and we might change his mind. Constant levy out chants whilst supporting the team and cutting spending in the stadium is a great way to hit him.

I'm hoping he also benefited from this Lewis insider trading and we can force him out.

 

[Oscar22]

Another year of the abuse he got last year and we might change his mind. Constant levy out chants whilst supporting the team and cutting spending in the stadium is a great way to hit him.

I'm hoping he also benefited from this Lewis insider trading and we can force him out.

He really didn’t get that much abuse though did he, there was one moment where his wife touched his knee and uttered “Oh look Daniel, balloons” as six black balloons drifted across the half way line only to be forgotten the moment the wind picked up.

The occasional chants, mostly heard from the much louder away fans we have, usually last twenty seconds tops, then it’s back to the game. The only way he actually ever takes notice if anything is when people stop pouring money in for him.

Frankly, even that’s unlikely, because in football you have a wealth of fans who have been around since childhood, and supporting a team to that level isnt much different from religion, some people go to church on a Sunday, 60,000 odd choose our stadium instead - for most it isnt as simple as just not going anymore, its too inbuilt to their lives.

Now people are paying the highest season ticket prices in the land, there’s a hike on standard ticket prices now, and football shirts and merchandise are more expensive than ever. Yet you can guarantee next season we will have a sell out basically every week still.

It’s going to take a huge change in commitment from fans for Levy to realise the tide has turned, and I don’t see it happening. As for our “protests”, some balloons and twenty blokes with signs outside before kick off is good on them for trying, and at least caring, but Levy doesn’t even notice it.

 

[Ginola+Tonic]

I really don’t get the theory of we’re in some form of takeover talks so transfer business has been put on hold.
What’s it going to achieve?
Let’s say we started picking up business again next week which is expected, what was the point of the blank two weeks?
We have to at some point start business again in this window so why put ourselves back for the sake of a couple of weeks negotiations?

I really can’t see the lack of transfers being because of takeover talks at all.

 

[g_harry]

I really don’t get the theory of we’re in some form of takeover talks so transfer business has been put on hold.
What’s it going to achieve?
Let’s say we started picking up business again next week which is expected, what was the point of the blank two weeks?
We have to at some point start business again in this window so why put ourselves back for the sake of a couple of weeks negotiations?

I really can’t see the lack of transfers being because of takeover talks at all.

100% I agree and it's not like ENiC put any of their own money into transfers anyway and should any potential sale not go through then leaving yourself short.

It might be likely this Uncle Joe stuff prob has Dan (coys) ordering extra shredders and he has more concerns there and is taken away from what should be the focus.

 

[McFlash]

there was one moment where his wife touched his knee and uttered “Oh look Daniel, balloons”

That killed me!

 

[Metalhead]

Another year of the abuse he got last year and we might change his mind. Constant levy out chants whilst supporting the team and cutting spending in the stadium is a great way to hit him.

I'm hoping he also benefited from this Lewis insider trading and we can force him out.

You never know with the former but I'd be stunned with the latter.