Bulls and Bears make money – Pigs get slaughtered”
Old Wall Street Saying
Another guest blog; our very own Bill.
Good afternoon All,
Several weeks ago I put up a post explaining a little about how the business dymanic at Spurs actually works and why there is no drive for success on the field. I was ritually hammered by the blue-eyed Levi-ittes who were bowled over by the fact that he had just managed to kick the can down the road on the new stadium for another three years.
I love this club and I want it to succeed. But Joe and Daniel are not the white knights that some people think they are. And if you can get your head around this then you will know that we are not and never been looking forward to a big season and we never will whilst they are on the scene.
This is how it how the whole thing works:
Joe, owns Tavistock – which in turn owns a huge number of other businesses including ENIC. Tavistock invests, builds and acquire companies for which they demand a hefty and regular financial return or management fee for want of a better phrase. This is perfectly legal and reasonable and it’s how billionaires (like Richard Branson for example) remain billionaires. THFC is just one cog in the wheel that pays its’ dues. Should that ever stop then Daniel would be replaced and a new Chairman would be parachuted in and remain in place until he fluffs up the payment. This operation runs like butter and makes Tavistock rich which in turn makes Joe rich.
So much so that in 2008 Joe lost $800m (eight hundred million dollars) in an attempt to acquire just 10% of Bear Stearns – an American bank that subsequently went under during the financial crash. Within 2 years he had made up the entire loss. Today he is at least $1billion richer. Joe has an understanding on how to make money that even the most intelligent people cannot grasp. He is quite simply a financial guru.
However, a financial guru is not the same thing as a benefactor. Accumulating abundant wealth is not the same thing as spending it. Making money isn’t the same as enjoying it. Joe’s dreams end at accumulating wealth and do not drill down to the on field success at one of his lesser businesses. THFC is merely just a name on a spreadsheet full of other names is titled “Investment Vehicles”.
Daniel, is the casino manager to Joe’s casino owner. He keeps the money flowing and probably works to more limitations because of it. He knows that if he keeps the money moving and never asks for money then he will remain in situ. To that extent a good part of his work must be commended, the training ground, the youth academy and the foundations for the new stadium are outstanding examples of how to play the long game.
His short game however is a nightmare. Such is his difficult nature that he is granted the status of ‘persona non-grata’ by most who have come into contact with him. He is a poor negotiator and I have knowledge of several directors from other clubs who have walked out of a negotiation feeling the need to rid their frustration by letting out a primeval scream before punching a wall and hitting the scotch.
To that extent – when it comes to the transfer window Daniel Levy is bad for business. He is the guy who you do not call for a deal. Once the Chairman of Real Madrid called him and we ended up with VDV. But that was in 2010 and that was 8 transfer windows ago and nobody has called him since. This is past glory and he is no longer considered to be the can do guy who can make things happen. Daniel lacks the genuine appetite and conviction for on field success and is driven more by job security and money than glory.
To that extent he is a Tavistock man first and a Tottenham man second. And that will never change.
This club needed to bust a gut to get deals over the line 3 weeks ago. And it didn’t happen. Something may well happen soon – but a Chairman who is driven and is passionate about success would have made it happen sooner.
We are a Europa League Club with a Europa League Chairman. A Champion’s League Chairman acts more decisively as does his team. Teams that win things behave differently to Tottenham. We are different and it’s not working and it’s no longer funny.
It is this behaviour and the very culture of this business that is setting the limitations of what can and cannot be achieved not the transfer market, or agents or anything else.
We are weak because the Chairman is weak. Money will not make him strong, or courageous, or charming, or decisive or inspiring or a leader.
We are on a sound footing. But with the exception of Leeds Utd and maybe 10 more clubs – so is everybody else.
