When I began calling out Levy and ENIC for what they were, I was pretty much a lone voice, certainly online. That was never something that particularly bothered me as it quite often the case that things that aren’t great attract huge popularity. I’m thinking of ‘restaurants’ that sell a lot of hamburgers and all those people who began finishing sentences with ‘simples‘. Things that are better for us, and tend to last the test of time frequently tend to be a slower burn. Just ask all the people selling vegan food these days for details.
Fans can use all the hashtags they can lay their hands on, but the sorry reality is that they will be demanding a part-owner of a business to step aside and effectively be replaced by either someone else from within the business they almost certainly won’t like either or worse yet, some wannabe bureaucratic nightmare from supporters’ association.
Talk of new owners is equally bizarre. Tottenham already has an investor and their position is robust, to put it mildly. Let’s take a step pack, put down the hashtags and lose the outraged consumer routine, and look at some facts.
Spurs’ debt to the banks currently sits a little over £600million. Forgive my lack of interest in the why’s or the wherefores about interest rates and another half-baked chit-chat about interest rates. If AN Other investor were to arrive this afternoon in London, then their first task would be to take on or take away that amount in full, because it is attached to the club.
Then there is the business of what precisely ENIC has left them that isn’t in already hock to the banks, such as season tickets and corporate revenues. This is important because it means that even if someone waved a wand and one could admit 62,000 to our next home game, how much of that revenue is already spoken for?
And finally, once a forensic accountant has worked out what’s what, in true ENIC style, we need to look at the football team. A reputation for not winning anything and going through managers like poor quality socks dogs us.
An ageing squad, with increasingly few elite or internationals of note, most of whom would genuinely struggle to secure a place in any bona fide top-flight side.
If the £600million could be taken on the chin and if the remaining elements of turnover were agreeable, then and only then would one need to draw up the cost of selling off many undesirable players – and upgrading them – plus the acquisition of a coach that might be able to get a tune of them. This is sounding less and less like a walk in the park, isn’t it?
If AN Other investor was looking to take over a Premier League club, then a case could be made that taking over Arsenal would be a far more palatable proposition. ‘Only’ a £100million worth of debt, a reputation for winning the odd domestic trophy, plus a squad that might arguably be seen as less of a doer-upper than one in N17. Spotify is in talks with Arsenal.
None of this is expressed to rile anyone, rather highlights the true size of the problem facing us.
I’m glad that the THST went full #LevyOut, and if they don’t stick to it, then it’s a climb-down. With the lines of communication now cut off, the fans have been well and truly hoist by their own petard.
As I’ve been saying in recent videos, the fuss over the European Super League fiasco bemused me. After all, didn’t ENIC demolish our spiritual home, after repeatedly selling our best players? This is where we are, the Gooners up the road are close to getting dream investment, while Spurs fans are hoping for one night when we don’t wake up in a cold sweat.
not just entertainment. I want to win trophies especially league titles. That means top to bottom reform. Everything Bill Nich said should underpin the club. No deadwood , quality, allied with steel. If we cant win league , we win cups & keep trying. Not just accept United, arse etc are bigger. No more defeatism. Because of ENIC nobody believes anymore
If Lewis is a fan, why not use some of his billion to pay off the debts
Yes. I had more hope and enthusiasm when we were relegated back in 77. Its that bad.
LOLZ!
Yup
His father and his uncle are old friends of Lewis’s. Levy might be even be his godson. It always amuses me when people label Levy as a “hard headed accountant” when he actually got a degree in land management. I had a friend who got a similar degree to Levy’s and we always laughed by describing it as a degree in bee keeping.
Which is the reason I follow another club, Leeds Utd, as it’s the only relief I can get from this whole depressing saga. Truth is there is no escape, we are trapped in an endless enic loop with little Levy like some demented hamster on a wheel going round and round applying all his energy to making money for his masters. Any football success would be an accidental bi-product of Levy’s demented quest for making money for himself and Joe. Why Joe needs so much money is beyond me in his semi vegetated state?
It might be a tad more palatable, you know the nice stadium etc. if Levy wasn’t such an obnoxious little rat. Whoever picked him to do the job obviously didn’t ask for a character reference.
It’s always something being done to cover up a balls up with Levy. Particularly the football side. No discernible strategy for on field success that makes me conclude that isn’t important to the ENIC project.
When has Lewis presented any input or interest in this club? I reckon spurs is a name on a spreadsheet to that bloke. Levy is Mr Big, Lewis is merely a silent partner letting his son in law run amok
It’s a world class mess.
‘I think something will need to be done to appease the fans.’ Didn’t Levy try that by ‘resigning’ Bale? 😂
Our credibility as a club is the lowest it’s probably ever been. This after accumulating 1bn of debt building this stadium that was supposed to change everything for the better!? 🤔
Well run is irrespective with the clubs you’ve mentioned (except Leicester) I am not so deluded to accept that a top manager would pick Bayern, City or Chelsea over Spurs. More funds available and guaranteed to be challenging for silverware, not so much of a “project”
Leicester is fair, but really the comparative would be Arsenal, Everton, Villa, Borrusia Dortmund, AC Milan etc.
Your disagreement is based on two managers. James didn’t say we’d always get our reported top choices. He said there will never be a shortage of managers willing to take the job and he’s right.
Martinez, Sarri, Allegri, Howe, Potter, Parker, Ten Hag, Benitez etc. would all likely accept if offered.
Christ, we talk about how Poch wasn’t backed but he and his backroom staff still insist they will be back one day so it can’t be that bad.
I think something will need to be done to appease the fans. It looks like we are going to end up with a rather uninspired managerial appointment and regardless of what we think about the THST, from an outside looking in perspective any Supporters Trust publicly slating the ownership of their club is going to look horrendous. I don’t see things being swept under the rug anymore.
I think in the main fans have always paid their money to ENIC and been ok with everything so long as we play good football and have a squad of talented players to excite and entertain us. I think now we have an aging squad producing some of the worst football i’ve ever seen, people are jumping on what people like H have been saying for years.
Something will have to give, I’ve never seen such a fractured fanbase.
Couldn’t disagree more. Nagelsmann had already turned down the Spurs job before he accepted the Bayern one and Brendan Rodgers has announced this afternoon that he is not interested in the Spurs job either. The penny has drooped with a lot of people that we are a dysfunctional club led by a megalomaniac and that no manager can succeed working for Levy.
However, we are al deluded. The fans “have no compwehension” of how difficult it is to complete an incoming transfer deal and our head coach “hates” his job.
Levy didn’t really have a mask to slip in the first place, he’s always been there to mislead the fan base.
If they have the choice between a well run club like Bayern, Citeh, Leicester, Chelsea etc and the state of Spurs then they’ll pick a competitor every time, unless we pay more.
There’ll never be a shortage of managers willing to take the Spurs job.
Even knowing the particular difficulties you will face with the chairman they’ll still be lining up.
Agree with your conclusions.
And the rest. Club is valued at £1.6bn, they’ll want £2bn
That’s why I suggested that Lewis tells Levy to step aside from the footballing matters.He is in the position to do so particularly when Levy’s actions impact negatively on the club.He would not enjoy that.
I read about 2 years ago the club were paying and it was her who pushed it. She sat in the Directors Box for many years before ENIC came along so obviously had some connection with the club high up and that’s no doubt how the Chancer met her. Annoying as I had my eye on her :-)))))))
ps good luck with the wife project, it can be done, just persevere.
By ‘arranged’, I assume you mean she/her husband/the club, are paying for his welfare? Wow, didn’t know that. Good for her. Unfortunately, i think she’ll have as much influence with her husband as I do with my wife.
We had a young talented manager who couldn’t persuade Levy to invest.
We had one of the greatest managers of all time who Levy was deeply, uncontrollably in love with who couldn’t make a difference.
Whoever this Chancer hires, DOF, the world’s next greatest manager, it will make sod all difference.
All I can say is thank God his wife is a Spurs supporter (who financially arranged for Jimmy Greaves to be looked after by the way, so she has my respect) who has probably put a bit of pressure on this pseudo fan over the years.
I used to work for a micro-manager, they had their own process for every part of the job I did which they forced us all to follow. I very quickly realised that they were good at their job (managing the department’s spending etc) but they were awful at my job. I could do things twice as fast and to a higher standard if I did them the way I knew from years of experience, but this manager wasn’t having it. Their way or the highway, so I got out of there as soon as I could.
Lucky for my ex-manager none of their new hires would know this unless they asked an ex-employee which would be unlikely. Unlucky for Levy in that all potential football managers will now know what he’s like and be hesitant to get involved in such a work environment, same can be said for directors of football, scouts etc. We’ll have to pay over the odds for the best or get in a cheap unproven manager instead who’s willing to put up with Levy to get a “top 6” club (yeh right!) on their CV.
Levy thinks he’s doing Spurs a favour by wheeler dealing on transfers taking them to the last hour of deadline day and demanding managers start this player or that player against said manager’s better judgement. Until we’re shot of him I don’t see Spurs succeeding on the pitch, or of course if pigs fly and Levy sucks up his pride and admits he needs talented individuals around him to make footballing decisions for the best interests of the club.
If only we followed Spurs for the fun of business!
Not only all of above in this article but ALSO Levy with a straight face would demand a billion minimum to purchase the club. I have no doubt he’d want £40m for Winks!
I’m no Levy lover,but i don’t think anyone can deny that he has improved the value of THFC along with the new stadium and that is his business acumen.
However where he has failed miserably is on the footballing side with his constant micro-managing of all things football.Even from outside the country Lewis can’t fail to be aware of the negativity surrounding the club.
A simple solution would be for Lewis to pull Levy aside to concetrate solely on the business element and bring in a DOF who knows the game and a proper scouting setup.A new manager could work with the DOF as they would both be pulling in the same direction and even limited funds could be wisely spent on agreed targets.
If ENIC are not going anywhere soon,this would seem to be the best solution to our predicament.Otherwise we are fcuked.