Date: 18th November 2018 at 1:12pm
Written by:

The Times are running with a March opening date for The New Destination™.

The Harry Hotspur blog ran a piece some weeks ago claiming that a corporate client had been advised that his box wasn’t going to be ready until at least March.

More recently, there was what any half intelligent soul would recognise as a controlled leak – courtesy of the former Spurs man Paul Miller – who was quoted in The Sun as saying that the arena wouldn’t be fit to open its doors until the end of February.

The consequences of all this are blindingly obvious, but let’s not miss out upon an opportunity to recap on the fiasco.

This means season ticket holders have another 5 months of applying for refunds, waiting for the one 19th of their ticket’s value to be issued to their account, and then withdraw the funds into an ordinary banking account.

This also means that more corporate clients are likely to demand straight refunds as they didn’t get the facilities to entertain their clients in that they paid for.

And finally, Pochettino and the team get to watch the attendances shrink every time they play at Wembley.

Great work from quite rightly the highest paid chairman in the division.

Thank goodness under Levy’s auspices we could never be threatened with any sort of insolvency because of colossal debt.

Oh, hang on…

HERE’S THE LATEST VIDEO WHICH IS RUFFLING A FEW LEVYOLOGISTS 

 
Comments
  • Aside from cerebrospinal fluid, what's on your mind?

  • Rhys Jaggar November 20, 2018 at 7:23 am

    Insolvency….you really need to learn to read financial statements. Just as you need to learn the basics of finance concerning Wembley first season, which will have cleared Spurs twenty five million pure profit minimum. Your twenty two minute video was long on opinion and free of cluckers Cost of Wembley first season was twenty million. Sixty thousand at same price per seat as WHL, plus some European sell outs. Do the maths. It was very profitable.

    If you say Glazers loading Utd with debt to fund their purchase is equivalent to an asset backed mortgage you are off your rocker. Utd had massive stadium already, were debt free, cheap tickets, most profitable sports organisation worldwide. Glazers bleed well over a billion in debt charges and dividends, raise ticket prices. They could have done a JV to commercialise, keeping half of profits, become very rich, fans still onside. But no, the mobsters kissed some bankers and screwed the fans. And you say a new stadium is worse than that?

    Twenty six thousand extra people will do what you have done for years to come. Watch live football.

    Stadium economics is as follows. Sixty to seventy million a year extra revenue all in, including concerts, NFZL ec, twenty million extra costs. So if debt service charges are forty to fifty million a year, no extra costs on club from new stadium. Payment is entirely from matchday revenues. Add on stadium naming rights deal as and when to cover uncertainties. You can add community benefits by running morning nurseries in corporate space to help young Haringey mothers if you are worried about community benefits. Play indoor bowls. Etc etc. Host dozens of wedding receptions, business conferences in corporate areas, even embrace that Geezer Hearn and host darts and snooker things if you are really desperate. Rent out boxes by the hour for business meetings. Get creative. Sweat the asset…..

    Reality is that debt will be reduced to service mortgage through stadium revenues. Maybe Spurs will do what Arsenal failed to do and sell Vieira and Henry at the top of the market, when Arsenal lost seventy million by keeping each a bit too long. Yes, Arsenal were a football club, not a business, but debt could have been forty million less and two young replacements found. Five hundred million debt will have service payments under fifty million, so stadium move will be neutral financially at that gearing.

    So assume you must make one hundred and fifty million transfer profits and you will be just fine.

    Of course, you want a new owner at all costs.

    Just remember US owners do not buy a club, they steal one. You fans will pay the banks for the privilege of giving them the club. Through the nose.

    Fancy KSA? A chinese geezer?

    Or will you cream six hundred million for Kane, Alli, Erikssen, Alderweireld, Lloris, Trippier, Dier, a couple more, spend two hundred million on young hungry talent and have a two fifty million debt to service? Generate cash as a new young hungry squad develops to 2024.

    The club is not insolvent and nowhere near it. It has numerous choices, none of which involve the bailiffs.

    You do your case no good by failing to produce detailed financial projections.

    Start producing them.

    And produce real cluckers of US LBOs, including £30m a year dividends for owners who loaded the club with debt.

    They are not very pretty……even if US is controlling UK media and telling them to turn UK football fans into Americans…..

  • MrChickenHead November 19, 2018 at 10:09 am

    Waite Jonathan don’t go.

    • Harry Hotspur November 19, 2018 at 11:02 am

      I emailed him once.

      That’s the sum total of my anecdote.

  • Tappaspur November 19, 2018 at 12:00 am

    Davies for chigwell?

    • MrChickenHead November 19, 2018 at 12:13 am

      Any time.

      • Tappaspur November 19, 2018 at 9:31 am

        How many millions on top would seal that deal d’ya reckon?

        • MrChickenHead November 19, 2018 at 9:54 am

          We’ll throw Sissy in as a make weight 2 for 1 deal, Daniel doesn’t do Money.

  • Accy November 18, 2018 at 11:16 pm

    East Stand
    Levy would rather miss out on potentially extra earnings because of what he regards as the risk involved in committing more cash to help the team win stuff. He is risk averse to the point of lunacy. As you say, he could have earned more revenue by backing the side more and probably would have but he’s a dullard. The ‘risk’ wouldn’t have been anything worth worrying about but only 0% risk is acceptable to him and ENIC. That’s why it’s taken them 17 years to make us regular C.L participants, also by accident I might add. No Poch and no Top 4…

    HH is bang right when he says the Chelsea model is the only model that works.

    Sustainable, and with tangible success.

    • Harry Hotspur November 19, 2018 at 7:56 am

      I put the graphics up for Liverpool and Everton’s Academies recently and they’ve also had little good news. The difference is that those clubs don’t peddle an Academy Myth to their fans. They buy players.

  • East Stand November 18, 2018 at 10:43 pm

    Benfica have a stadium that is bigger than ours and was built 15 years ago. The Portugese Supaliga has very little global appeal and Benfica have no association with NFL or any of that old fanny.

    Just think about it, without the spending on the team this stadium represents less ambition than a team that plays in a league with comparatively minuscule TV money compared to the Premiership.

    I’m not sure it’s even that impressive an achievement…

  • East Stand November 18, 2018 at 9:45 pm

    If ENIC had said after the bought Sugar out that their ambition was to win one League Cup and us to be Champions League regulars in 17 years time I wonder how it would have been received?

  • Is Gascoigne gonna have a crack? November 18, 2018 at 4:49 pm

    Oooooooh…. I get it. The final of this shambles is at Wembley. One big publicity stunt. Its a bit clearer now.

  • Is Gascoigne gonna have a crack?I November 18, 2018 at 4:39 pm

    On the plus side Kane will return even more drained.

  • Is Gascoigne gonna have a crack?I November 18, 2018 at 4:15 pm

    They’re saying England are on the verge of a first major final in 53 years?!? MAJOR FINAL!?? Please stop?? I beg you!?

    The world has gone bananas. What’s happening?? These people are bonkers moronic looneys!

    • Is Gascoigne gonna have a crack?I November 18, 2018 at 4:37 pm

      Spain B and Croatia B with no Mandzukic, Kovacic or Rakatic, in a nothing competition that is 0 years old. That constitutes achievement now on par with the 66 world cup. We’ve officially gone off the map into strangelands. Engineered balderdash.

  • Is Gascoigne gonna have a crack? November 18, 2018 at 3:43 pm

    The commentary on this radio station is truly tragic. Talk about over selling something. 2 set plays. Engineered result again to sell a bollox tournament. That’s one way they fix football, set play organisation. WWE. Nonsense.

    • Is Gascoigne gonna have a crack? November 18, 2018 at 4:00 pm

      All that was missing from that was the Undertaker to run out and pile drive Luna Modric. Farce.

      • Is Gascoigne gonna have a crack? November 18, 2018 at 4:00 pm

        Luka

        • East Stand November 18, 2018 at 9:22 pm

          I don’t know how you manage to get so wound up over the England team. Have you learned nothing?

          • Is Gascoigne gonna have a crack?i November 18, 2018 at 10:51 pm

            I don’t care about them, its just the nonsense surrounding this silly competition.

  • Harry Hotspur November 18, 2018 at 3:36 pm

    ‘On my daughter’s life’…

  • Andrew November 18, 2018 at 3:32 pm

    Why take Rashford off ,unless he needed a piss

  • Harry Hotspur November 18, 2018 at 3:22 pm

    England just lost about 60 yards – whilst sausaging throw ins.

  • Harry Hotspur November 18, 2018 at 3:21 pm

    BONZO FOR ENGLUND!

  • Is Gascoigne gonna have a crack? November 18, 2018 at 3:18 pm

    Ha! Now its all ‘the evolution of the team’ and the ‘learning’….20 minutes ago they were conquering heroes and all other past England players were green with envy. T w a t s

  • Andrew November 18, 2018 at 3:18 pm

    What has happened to the art of crossing the ball to the striker ???

  • Andrew November 18, 2018 at 3:15 pm
    guano Croatia score and now the blame Harry Kane for not scoring begins.

  • Harry Hotspur November 18, 2018 at 3:15 pm

    Nice tap in from Dier

    • MrChickenHead November 18, 2018 at 8:35 pm

      😂

  • PhilBealOG November 18, 2018 at 3:14 pm

    Great point at the end there H. After all the claptrap from the apologists about Levy keeping Spurs solvent with his penny pinching transfer dealings we now find the club up to their ears in debt due to his extravagances with the new stadium. I believe that several years of top flight European football were lost due to Levy’s past failures in the market and you have to wonder whether saving 5 or 10 million here and there outweighed the loss in revenue from missing out on Champions League football.

    • Harry Hotspur November 18, 2018 at 3:16 pm

      The jig is up, mate, that WAS the metric.
      Levy WAS the safe pair of hands.

    • East Stand November 18, 2018 at 9:41 pm

      Levy would rather miss out on potentially extra earnings because of what he regards as the risk involved in committing more cash to help the team win stuff.

      He is risk averse to the point of lunacy. As you say, he could have earned more revenue by backing the side more and probably would have but he’s a dullard.

      The ‘risk’ wouldn’t have been anything worth worrying about but only 0% risk is acceptable to him and ENIC. That’s why it’s taken them 17 years to make us regular C.L participants, also by accident I might add. No Poch and no Top 4…

    • East Stand November 18, 2018 at 9:43 pm

      Levy would rather miss out on potentially extra earnings because of what he regards as the risk involved in committing more cash to help the team win stuff.

      He is risk averse to the point of lunacy. As you say, he could have earned more revenue by backing the side more and probably would have but he’s a dullard.

      The ‘risk’ wouldn’t have been anything worth worrying about but only 0% risk is acceptable to him and ENIC. That’s why it’s taken them 17 years to make us regular C.L participants, also by accident I might add. No Poch and no Top 4…

  • Is Gascoigne gonna have a crack? November 18, 2018 at 3:14 pm

    Thatl guano them up. England 0 Croatia B team 1.

    • Is Gascoigne gonna have a crack? November 18, 2018 at 3:15 pm

      *s h u t

  • Is Gascoigne gonna have a crack? November 18, 2018 at 3:11 pm

    How many sitters has Sterling wasted today? I’ve listened to about 15 minutes all told and I’ve counted 2.

  • Andrew November 18, 2018 at 3:09 pm

    Is it me,or do England play a bit like Tottenham ??? Slow and sideways ,and sometimes one over the top.

  • Andrew November 18, 2018 at 3:04 pm

    If levy had come out and said two seasons at Wembley, no one would have said anything. Any person who has had any building work done at home probably knows that builders usually over run time wise, let alone a project of this magnitude.
    I’m surprised really, as enic are big into building projects that they thought it would be ready in September.
    But still, nice of the season ticket and corporate to help with the cash flow. It will be immense when ready, but levy has either been naive or planned on using the season tickets and corporate money to fund the stadium.

    • Is Gascoigne gonna have a crack? November 18, 2018 at 3:09 pm

      Exactly. He should av announced in the summer at the latest. Levy knew though, it was never going to be ready in September. This whole thing has been a rinse recoup exercise. No signings, interest free loan from season ticket buyers which they’ve made interest off. Swindle and swag.

  • Harry Hotspur November 18, 2018 at 2:50 pm

    Kane running about to no good purpose…

  • Tappaspur November 18, 2018 at 2:42 pm

    Was in Lilly white house earlier. (Hope in Tottenham meeting) What a lovely place to study. So modern. Beautiful in there. The old wedding vegetable clock looking lovely. (Do not touch) I kissed it :-). Went up on the green roof. Niiiiice. Good view of the twisty bridge. Only a hand full of workers working on the ticket office. All over actually. No rush at all. Well they have till August!

    • Tappaspur November 18, 2018 at 2:43 pm

      C o c k e r a l c l o c k.

  • Is Gascoigne gonna have a crack? November 18, 2018 at 2:20 pm

    Commentaters are now talking about England like an over encouraging everyone’s a winner parent patronises a child who never wins at sports day. Sad times.

    • Harry Hotspur November 18, 2018 at 2:31 pm

      It’s football, but not as we know it…

      • Is Gascoigne gonna have a crack? November 18, 2018 at 3:03 pm

        There accounting getting to a semi final of this 2 bit tournament to doing it in a WC. Waste of time.

        • Is Gascoigne gonna have a crack? November 18, 2018 at 3:04 pm

          *Their

  • Is Gascoigne gonna have a crack? November 18, 2018 at 2:12 pm

    Because the fixtures Utd and Arsenal have been rumoured as possible openers I call more spin on this. We will be at Wembley all season is my guess.

    • paul November 18, 2018 at 2:29 pm

      We should have to stay at Wembley all season and something’s very wrong if the FA don’t come out soon and say so very soon, otherwise Levy get’s away with another world class piss-take

      • Harry Hotspur November 18, 2018 at 2:31 pm

        Scudamore’s departure won’t aid Levy’s relationship with FA.

      • TopBanana November 18, 2018 at 2:50 pm

        I agree. We need to commit to Wembley, price tickets reasonably and get some atmosphere back in the place. Start a-fresh next season at the new ground.

        Levy’s attitude has been a disgrace. Tickets for southampton game priced cat B. Fans should boycott and send a message to the bald dictator.

        • Tappaspur November 18, 2018 at 3:06 pm

          Boycott? Not support the team? Do our players deserve that?

          • TopBanana November 18, 2018 at 5:59 pm

            I’m a season ticket holder, we’re being treated like guano They’re multi-millionaires. Don’t be such a flip melt.

          • TopBanana November 18, 2018 at 6:02 pm

            My response was moderated. It’s mugs like you that keep Levy sitting pretty. Oh couldn’t possible show my distain for the pi55-poor communication and the way the club treats its CRNs in case we upset the players. FFS.

            • Harry Hotspur November 18, 2018 at 6:12 pm

              *Should be fixed*

      • Is Gascoigne gonna have a crack? November 18, 2018 at 3:05 pm

        I’ve no idea how has got away with the mountain of mess he’s caused. We are lucky we ain’t had a point deduction.