Possibly the most interesting itk you’ll read this window…

Good evening.

From the always excellent Spurs Community and I am purely guessing that the individual who posted is confident that Levy & Co. can’t find him, take him outside and have him shot in front of his family.

Hi Chaps, said i met up with my old crew last night. A few snippets and discussion points came out of it which are worth a quick share and debate IMO. As most will remember I used to work in the Currency (FX) side of the bank, with some footie clubs as clients. Obviously we only get involved with the financey side of things – hence summers massive “letters of credit” discussion as payment gurentees. Sadly i don’t have LOC access anymore cannot see that. But what we can do now is make some educated guesses from what the club is exploring through the currencies/sizes and locations.

1) A few days ago i mentioned that spurs were looking at EUR finance options with the corresponding bank in Portugal (its the same as the UK bank hence the knowledge). We looked at this deal in the summer and looking at the amounts i think its gotta be mouts. The same amount being discussed again. Remember from the finance side this is just spurs asking for quotes and ideas, kinda like if you were going to get a quote for a new conservatory – but that conservatory is Mouts shaped. They were looking to use a structure to lock in the GBP advantage over EUR. We were looking at this before Jan, and refreshing again. So while i can’t say “we got this” or anything like that, it seems the club are 100% looking and considering. You don’t bother sorting out the FX angle if you aren’t somewhat serious.

without getting too complex, big companies/football clubs always have ingoing and outgoing USD EUR GBP SGD etc due to various sponsorship. Sometimes you hold a surplus of one if you can transfer it back into another. So we are always peeing around with FX. This becomes apparent on point 3)

2) USD, Spurs are watching LHS CABLE (GBPUSD). This via guesswork would be to a south American club as this is what they quote in. As USD is favourable to convert back from their native currency. It also hides their true value and you can wind up a few extra costs via quoting in your non base (native) ccy. From what i can see we’re looking at a largish upfront with using FX to an advantge for longer payments (thing X upfront, Y over Z years). Why this tickled my pickle is that spurs are clever/educated in FX options. These options have something called “time value”. Simply the further away you can book something the better price (not 100% correct, but a point in this argument). We are looking to utalise Time Value to better the market for USD’s. Thus a summer deal would be a “guess” for whatever these dollars are for. But the upfrontpayment was a spot deal (aka now). 1+1=5 would lead me to think we could secure now and pay later. When we get the player no idea. But as i said at the top, i can only tell you my inturpretations from what i know from the FX movements. NOthing more. So all of this is me deducing – but again i would think there are legs/questions/working to our potential striker

3) Finally, its not just football clubs i used to be involved with, its the associated organisations. This point is more a pub discussion but i think its worth a note. The biggest bit of biz we used to do is converting the EUR TV money into GBP for the FA/prem league. A word from my old contact to the guy who talks to the banks (being vague i know on purpose). it was suggested that Weslar Snidar likes AVB. His best years, his best work was working for Jose. Thus these guys believe Jose recommended working under his old protege and this is a factor as to why we are ahead in the bookies race. Also it was noted that Levy has been sniffing and selling him the dream as per Lloris etc. A chance to be a hero on your own terms. Anyway i thought the Jose/AVB link was interesting and a relatively unconsidered angle.

3b) The club has been looking at tactical ways of using FX strutures to create a EUR advantage, kinda to “beat the market” buy which it means you are recieving/locking in rates that are above the market. We have a EUR surplus for whatever reason (tv money? dunno really) which means if we can lock in a low/favourable EUR/GBP rate we are effectively getting a net gain when converting. of course nothing is free, i’m just trying to get across the notion of creating an advantage by utalising FX to pay fees. It was noted that this could be a factor in paying WS or his wages. This again is more clever guys speculating.

After all of that i feel like those guys who say, “it may or may not”. But from my angle i guess we are like those guys who say xzy is looking for a house. They might be but doesn’t mean its going to happen. I hope that i’ve spread some light on somethings. As always happy to take some questions.

To me this smacks of credibility. And who knows, Moutihno, Sneijder and Leandro Dimebar?