The easy summary of ENICs tenure:
- First 5 years – take a mid-table club with a mid-sized ground and bring it closer toward regular European football.
- Second five years – reach Champions League quarter-finals and win Carling Cup.
- Third five years – sell the best player to RM, reinvest proceeds badly, so have to find a manager to bring regular Champions League football on a shoestring budget, and bring forward plans for updating training facilities to best-of-breed and construction of the best stadium in world football.
- Fourth five years – deliver stadium (delayed and over budget), reach Champions League final, then lose manager. Hire a proven winner, then sack him a week before a cup final. Drift downwards under COVID-19 restrictions, which caused a loss of £150m in stadium-associated revenues. Starting reinvestment in a team with significant 2021 investments.
So after 20 years of ENIC: club infrastructure is now second-to-none. Five seasons of Champions League delivered (previous owners: zero). One trophy was won.
The test of ENIC is now: they don’t have any excuses anymore not to invest in the team. The training ground is done. The stadium is done. The club has been consistently near the top of the EPL for a decade and more. To build the commercial brand it needs a great story on the pitch….
Man City’s owners didn’t need to build a stadium – Manchester City Council did it for them. The same can be said of Newcastle.
Liverpool have no greater financial firepower than Tottenham, they do have a much richer history of trophies though.
At the moment, Liverpool are showing the way on the pitch. There’s no financial reason why Tottenham can’t do exactly the same. If they have the skills, the vision, and the persistence.
If ENIC doesn’t have the desire or the skill set to do that, then they cannot be surprised if the fans say: ‘Thanks very much, but time to bring in someone who does….’
Probably mate yeah.
Grealish (and dozens of others) anyone?
I don’t have any problem at all about the football side of things being top dog and certainly wouldn’t accuse Levy or ENIC of having done a good job of managing that. But this hysteria in this thread about allegedly being the ‘anchor tenant’ strikes me as being directed to a peripheral point. If in building the new stadium something has been constructed that allows much greater use of what are generally underused facilities (ie football stadia), I’m not going to lose sleep over it, especially if it generates revenue that allows more funds to be put into team. Personally, I preferred my seat in the old South Stand Upper to my seat in the new South Stand Upper and preferred my old standing place on the Shelf to both. However, just as you appear accepting of the inevitability of ‘progress’ in the form of the ESL, I have accepted progress in the form of the so-called improvement in the customer experience (yuk) of attending a match at the new ground.
The thing that really hacks me off is the mismanagement of the football side (the prime example being the failure to buy players through an 18 month period when we were a team that was clearly close to winning stuff, but also proven over a few seasons to not be close enough, although, the failure to build on the Modric/Bale team and instead buying Saha and Nelsen or sacking Mourinho are up there) and the blithe acknowledgement by our resident business genius that he and his fellow board members took their eye off ‘some key priorities’ while focussing on delivering the stadium. I have never been convinced by a good deal of the praise Levy gets for his so-called business acumen, but taking your eye off key priorities is unforgivable and in a normal business (and I know THFC/ENIC is not a normal business) should’ve led to the chop. I think we should be regularly kicking Levy hard in the nuts (metaphorically speaking of course) for the way the team has been allowed to fade since 2018, but getting excited about being described as an anchor tenant – meh. I remember saying a few years back that I thought we would look back on the Harry Kane years as the wasted years and, sadly, I it looks as though I’m going to be proved right.
I think the issue is that Spurs should be a football club, opposed to a football club being an attraction at a shopping centre
Clubs have four sources of income broadcast, sponsorship, merchandising and gate receipts. Broadcast monies which have exploded over the last ten years have now plateaued which leaves the three other sources. Against the non oligarch clubs we are miles behind in revenue from sponsorship and merchandising so the only way to close the gap was to increase gate receipts and the only way to do that was to build a new stadium.
The first thing that should be said was that redevelopment monies are exempt from FFP rules so had our fantastic owner gave or lent the club money these funds need not have affected the football finances. However we have an owner who sees the club as a speculative punt and is not interested in the footballing side so the club have to generate the funds itself. We are so blessed to have him.
Clearly the delivery of the stadium build as handled by Levy was a disaster. Costs escalated and the six month over delivery seriously damaged the club finances but the truth is that had we stayed at WHL we would have continued to fall further behind the old money clubs not forgetting the oligarch clubs. Clearly this would have impacted on our ability to buy and pay players
Revenue per game at the new stadium is according to Levy over 6 million pounds which I believe is 3 times more than it was at the Lane. Based on a a league season alone that’s 80 million pounds not forgetting any cup matches which generate further monies.
The Lane was a fine stadium but I think it’s doubtful how much it could have developed and what additional capacity could have been increased.
The fact is many clubs both here and abroad have built new stadia in recent years so our issue is not the idea but perhaps more relevantly it’s execution for which Levy should have paid with his job.
Fenway looked at a new stadium but after they redeveloped Fenway Park in Boston they knew this was a better option for them. Levy could have done this but Levy had a masterplan. A plan that has more than backfired, but he still remains in a job. Anfield will get a new redevelopment soon and that will take it to 60000.
Just because we usurped Liverpool in the EPL table does not mean we compete with them financially. As others have highlighted, Liverpool are a bigger club globally. Playing £100m a season catch up is a big deal, but we are now £500m behind that!
To compete on the global stage with Liverpool we needed to win trophies over a sustained period. We had our chance, but Levy missed the boat.
Is the club on a lease and paying an owner (presumably ENIC) to occupy the stadium? I don’t know the precise arrangements at WHL, do you?
As far as I know, there is no exact definition of the term. However, an anchor tenant is usually the first, biggest or most prestigious tenant in a building development that it is hoped will draw in other tenants. I suspect that it the context of the arrangements at WHL, he just meant that while the stadium was designed to be a fully functional NFL stadium, THFC is the foundation stone and they hope to draw in other ‘business’ on top of that.
What exactly do you think is meant by anchor tenant?
Must be someone working on the online PR and ‘socials’ on behalf of the club. No comments, just downvotes because they don’t have the time to actually engage…
22 years and counting…
How do you know all this stuff, that contradicts every bit of evidence we have to go on? Even club statements are regarded and dismissed as a misrepresentation of the facts.
When Liverpool played pre season at the MCG in Melbourne a few years ago it was rammed out. We have a following there but there’s no way we draw that many people to something like that
Their global profile puts ours to shame and this will be reflected in their income levels. Why? Because their primary achievement has been winning things, two Champions Leagues in 12 years or whatever and six in total.
We may have finished above them under Poch a few times but that wasn’t the usual situation. If someone only started watching Spurs in 2015 they might have a slightly twisted view of it. Liverpool dwarf us in terms of their global earning power…
We are absolutely in the same financial and football league as Liverpool. The comparison is not way off at all. Historically we had finished above Liverpool for 8 out of 10 consecutive seasons, culminating in the season of that 4-1 thrashing at Wembley, whilst the stadium was being built.
The season of the Champions League final, after we had invested no money in players for two consecutive transfer windows, we banked 113 million GBP profit, the highest in world football, ahead of Liverpool.
It should also be noted that the Spurs ownership group of Lewis and Levy (with a combined net worth of $7 billion) are more than twice as wealthy as John Henry ($2.8 billion), owner of Liverpool.
The difference is that Henry prioritised a winning product on the field, like he did with the Boston Red Sox and ENIC prioritised constructing real estate. The financial disparity ‘card’ is a myth, PR spin relentlessly promoted by ENIC, to justify lack of ambition and divergent priorities.
Are we or aren’t we? It’s not a term, it’s a description of the arrangement in place. Nobody wishes us to be anchor tenants but we are. You seem to be wishing it isn’t true.
If you supported Leicester City, you’d have already experienced it by now. Rather than being made to wait until you won’t even be able to wipe your own a*se…
I’m sure you won’t get chucked off if you make a perfectly reasonable explanation as to why you still don’t believe the club are anchor tenants. Even after the club putting it out via it’s official channels…
“plus brave enough to spend big look how well that went with Tanguy, levy can get the same value at a 1/5th of that cost isn’t that better?”
The perfect excuse to not be ‘foolish’ enough to spend that much ever again right? Penny pinching on the scouting is what made that transfer so unpredictable, I doubt Paul Mitchell would have sanctioned it.
Tangy’s mentality issues were the main reason Barcelona, Juve etc were hesitant to take him. It was common knowledge, but Levy likes things done on algorithms, as if he’s buying stocks and shares. Our head scout who “hates his job” is happy to go along with that..
I can answer those,
1)Most owners don’t put their own money in, look what happens when they do.
2)Youre judging a level of being a fan, not sure plastic content involved at this time.
3)Business writeoffs this is probably planned for in business planning predictions so just a running cost.
4) You always meet the criteria of any bonus scheme, if you can write it yourself just makes it easier.
5)But wished it would be on time, like wishing for trophies, incompetence got in the way of intention.
6) The club is run like a company, again when you own these things through shares you don’t put your own money in.
7)the debts coming were known so we had to keep cash reserves, plus brave enough to spend big look how well that went with Tanguy, levy can get the same value at a 1/5th of that cost isn’t that better?
8)yeah but the stadium is shiny, shiny I tell ya. So good value, and at the time it was thought it wouldn’t cost that much, otherwise we would have got it on Grand Designs.
The stadium built, planned for correctly, on time and in budget would have probably worked. It’s not hurt Athletico Madrid so it does work. But all the issues around it plus not getting sponsorship has snatched defeat from the jaws of potential victory. That sits at the chairman’s feet as his remit and anywhere else they would have gone.
Buy the way I can read in a few languages.
Re the stadium I worked on I called my mace guy a little while back and spoke with him about it. football was always the main priority he said. The artificial pitch and massive changing room is was the only NFL thought. Nothing more (thats why tottenham was set in stone. Re a permanent home for the NFL 8 games a season I’m all for it. The NFL or events will never be put before football. I’m telling you for a fact. People talking about that stupid yanky game coming to take over my club on my manor really hurts me. We are using them dumb yanks. Thinking back I can’t even remember anything NFL’y about the stadium when I was on the project
I appreciate that bruva. I’m OK. Balanced
Can remember 40 days down the block. Cardboard table and chair. Mattress from 9 till seven in the morning. Solitary confinement. Was tuff. Go lock yourself in your bathroom for a day🌚 used to make up formations re my team😂 talking to myself. It nearly broke me.
Tottenham has always Been there for me. I owe her. People making out she’s hopeless really gets to me.
Ok Tappa, let’s agree to disagree. I am happy for you that the club has helped you in some dark times. Best wishes.
I know the football club had the NFL in mind when they built the stadium. You have implied the stadium was built mainly for the NFL first and the football side was second.. That’s not true. Facts put In front of me? Anchor Tennant ain’t a fact. It was just a term used in a business way. I don’t hate or loath anyone. (Will make one bitter when old) according to my mum.listen bruva I’m mental health. Bipolar. My manics are crazy. Sectioned crazy. My lows after a manic are dark. I try to keep my glass half full and look on the bright side of things. My club has got me through some dark times. Whether in hmp or the nut shop. I can’t hate Tottenham in anyway. Let a brother be optimistic man. I talk to a lot of people at tottenham. Big love to my guy Steven fry.
You have been sent the same quote a number of times but you choose to ignore it for reasons only you know. The original quote came from a club employee. There is nothing wrong with your undoubted enthusiasm as a fan, but you continue to ignore facts that are placed in front of you. You seem incapable of differentiating between being a Spurs fan and loathing Enic, even though the same dichotomy is apparent at other clubs. I certainly cannot and do not wish another 22 years of mediocrity from Levy but you appear to have a misplaced faith in him which I find hard to fathom. Even when a seroius weight of evidence is put in front of your eyes, you ignore it. Perhaps Enic could have been more upfront when they “acquired” the club and told the fans the truth that they were going to turn it into a property investment company, but then, I suspect that honesty wasn’t mentioned very often on Levy’s school report.
If you say so. Hating on people with different views to you. I’m not gonna lower myself to your standards
Sonificent. Ostrich? I’m not gonna call you a name back. That’s too easy and silly
I ain’t no child.
I’m just a fan
Assuming I can read?
No need to be rude. I’m not
100%
Tomorrow it will be… 😆
I cannot understand how there is any debate on Enic’s motives and Levy’s failings as a football CEO after 22 years of nigh total failure.
Does any really think that even if the new stadium throws off serious cash flow that it will benefit the football club of which we are anchor tenants? Do the supporters really believe that Levy is capable of running a professional football club? I seldom agree with Jamie Redknapp but he is right that any other CEO would have been either sacked or would have resigned by now.
Correct on your point about Liverpool. The whole reason that they have such huge support globally is because they’re associated with winning throughout different eras.
Honesty, it’s a miracle what Bill Nicholson achieved for the club. The size of our global fan base Is mainly down to what his teams did along with Burks in the 80’s. It’s down to this that we have the global brand we have.
Im comparison Liverpool have been doing that sort of thing consistently and have won the Champions League more times than any other club in the country. They have an infinitely bigger global revenues than us so the comparison is way off…
Difference with Kane is that he is a nett zero outlay. So on a spreadsheet he’s never a loss even if he went for nothing. Kanes value for Levy is marketing/ branding.
Trophy cabinet is full of jam.
Here is quote from my first Spurs hero David Ginola regarding what the club needs to do.
The team is going to be fine. You look at this new era Newcastle and you think about Spurs, will it be enough in terms of money to invest in players? They have all the infrastructure to be a great club, but now they need to be able to attract the best players, without enough money you will not be able to do so. So, it’s important for Spurs to find some more money to compete against the best because I can’t believe I’m talking like that.
It’s painful obvious that we need to invest in the first team. But we all know that is not going to happen under Levy and ENIC. Plus I’m fed up of hearing about the stadium and facilities.
But when we last won a trophy, Leicester were in league one and won a FA cup and league title.
Arsenal have won 4 FA cups.
City got taken over and won 5 league titles, 2 FA cups, 6 league cups and made a Champions league final.
Liverpool have won 1 league title, 1 league Cup and a champions league.
Swansea, Wigan, Portsmouth and Birmingham have all won a trophy.
And we went from winning a trophy every decade for 6 decades from the 50’s to the 00’s. Only one team was able to achieve that as well and that was Manchester United.
Now at this current rate it looks like it be a far 6 decades before we win anything again. But at least we can take comfort we a world class stadium, with a bar the length of the stadium, a cheese room with Lady gaga playing in the background and when were bored with that, we can always stay at the old whitewebbs and have a kick about there.
The Chairman has had the job for 20 years but is is he in footballing terms showing that experience of doing it for say 50,000 hours.
Wake up. Poster child of the jam tomorrow movement.
Enic said it. You are an ostrich.
levy apologist. Farcical argument.
Tappa, please go and sell this ENIC fairy tale somewhere else
We are not in the same financial and indeed football league as Liverpool. The size of its fan base worldwide and stature ensure that they are able to deliver far better sponsorship and merchandise sales than ourselves. Looking at the figures on Wikipedia Liverpool earn around 100 million more in income than Spurs, which is why Levy felt the need to move out of White Hart Lane.
Commercially doubling the matchday attendances was the only way we could hope to close the gap on the likes of United and Liverpool and the oligarch clubs. The stadium migration was a disaster as Levy lost control of the project and has left the club financially stretched but the fact is if we’d stayed at WHL over time we would have fallen further and further financially behind the top clubs and would not have been able to fund the transfer fees and salaries to challenge the established top clubs.
If our owner had closen to fund or loan the stadium build we would have escaped the FFP rules and would not be in the financial predicament we are in. However we have the worst owner in the premier league who has never done a single thing for the club despite making a fortune on his speculative acquisition of the club. I am sure all fans wish him a long life.
But THFC is not a company it’s a football club. ENIC are the company that own everything unless the sell.
They are not intertwined as one re the books/accounts
I’m not getting into this. The boss will ban me. Think what you like
Tappa THFC are owned by ENIC who are run by Lewis and Levy as primary shareholders. The two entities are intertwined as one. The only way you can separate them is away from financial affairs, for example supporting one but not the other.
Lewis will be doing the selling. It will sell for what its worth
Levy going no where.
I’m 56. Got about 30 years left in me. 🌚 that’s more than enough
😂😂😂😂😂😂
You could say the same about everyone with a mortgage. THFC are not Tennant’s. They own the stadium providing they keep up with their loan re payments. “Anchor Tennant’s” joke ting
Do you know how many billions gonna pass through the club in the next 25 years? Untold
Stop worrying
Well Tapps, I shall be long dead by then, so I am pretty relaxed about it man!
It was an Americanism used to ingratiate the club to the NFL hierarchy, however until the stadium is actually paid off, there is some symbolic truth to the reality that the club is merely a tenant, albeit the ‘anchor tenant’, in regards to its relationship to the stadium. A billion $ worth of debt (albeit long-term debt), collateralised as a liability against the assets of THFC, is not an insignificant amount, especially in the current economic climate.
.Assuming you can read, this was written by HH several years ago, quoting Aidan Mullally, Spurs’s head of business development. You have been sent this before but there is no educating concrete.
For those of still sleepwalking into the brave new world, passing off propaganda and dreams as fact, here’s something to wake you up.
Quoted by Sports Pro Media, the Premier League club’s head of business development, Aidan Mullally, said that the new 62,000-seater stadium was built with the NFL in mind and that the venue is primed to offer a new level of brand exposure to audiences worldwide.
You do realise the stadium will stand for 100 odd years. Relax man. Stop looking for problems
The stadium constructed in the name of THFC, has been debt financed (it was not constructed with our money) therefore it is in reality a liability collateralised against THFC, not an asset. Until the creditors/banks used by ENIC to finance the stadium are paid off THFC only nominally ‘owns’ it.
When ENIC eventually sell the club, the debt financed infrastructure (including the stadium) will of necessity be paid off. However the hugely excessive profit demands and unrealistic price that Levy will demand to sell the club, will render it almost unsaleable.
These negative clicks mostly happen when. ENIC & Levy are gettIng slated so it leads me to think there’s some truth in the clubs social media dept trolling through the most popular blogs and trying to influence things at the same time remaining silent
I know one of them,Levy in disguise.
Who are these numpties who keep clicking the negative icon 🤷🏻♂️
Just watched the match again (volume down) and I like what I see/saw. COYS
What property have lewis and levy bought? I know what property THFC have bought. Anyway I can’t be bothered correcting people. Every time I do I get chucked off
When Lewis does eventually sell all our infrastructure bought with our money will still be Tottenham’s
I hate that nonsense retail term “anchor Tennant. Do some research on why that term was used
Do you wish we were ,” anchor Tennants?
This. THIS is the DNA!
All these points are correct, the only reason Levy has made the best training facilities and the best stadium in the world is to maximise profit when they come to sell, if you take a look at the map of Tottenham and see all the property Levy and Lewis have bought up around the stadium, obviously with the money from the club, it makes you wonder what they intend to do with it? the only answer I can come up with is to make even more money for themselves. They don’t intend to spend on the team, any time money has been spent, it’s been offset by the sale of players. The only way Spurs fans will get things to change is to force out ENIC, Levy and Lewis. Do you think Levy would have given anyone else more time after 20 years of failure, they would have been gone years ago.
I think you are missing the point about ENIC’s tenure. The shiny new edifices erected by ENIC and Levy, consisting primarily of our ‘world class’ new stadium, of which we are merely the ‘anchor tenant’, are only nominally for the benefit of the club. In reality they are the world class liabilities of THFC, constructed for the financial benefit that will accrue to ENIC and its principals, in any leveraged buy-out negotiated by them.
This is a remarkable deception being perpetrated by ENIC and its conniving ownership duo, which requires a giant ongoing PR exercise, the purpose of which is to deflect any and all blame for the club’s limitless lack of ambition on the field from its principal architects, namely Lewis and Levy, to focus on the much trumpeted ‘generational legacy’ of the entirely debt financed real estate that ENIC have constructed.
So allow me to reiterate, for the benefit of the uninitiated. The primary purpose of the heralded ‘world class’ real estate construction, debt financed and collateralised against THFC, is for the personal financial benefit that will accrue to ENIC and its ownership axis of Levy and Lewis. THFC is viewed merely as a cash cow to be milked by ENIC Inc and Lewis’s primary front group Tavistock and its investors.
Furthermore, in spite of years of obfuscation of the truth, the following axiomatic operating principle has becoming blindingly apparent regarding ENIC. The financial success of ENIC/personal enrichment of Lewis and Levy and the achievement of success on the field are alien and immiscible concepts and that is how it is undoubtedly viewed by the former.
ENIC are solely interested in investing enough in the team to syphon off the Champion’s League participation money. In their eyes further investment in the team is counter-productive as the additional money to be made from actually winning trophies does not compensate for the cost of paying for the players and salaries in order to do so. Quod erat demonstrandum, one minor trophy in 20 years of ownership.
Almost everyone has debt but that doesn’t stop us spending on the things we want/need. However I’m sure ENIC will use the club’s debts to hide behind when we continue to fail on the pitch.
We didn’t sell just one of our best players. We’ve sold ALL our best players throughout ENIC’s tenure to date.
One of our own will leave in January to complete the full house.
Nothing, new stadium, training facility, DOF, NFL or Lady Gaga is going to put monies earned into the footballing side of the business. We will remain what we’ve been from the start of ENIC’s tenure. Sell to buy and Buy cheap sell high. That’s the Spurs way now.
Sorry to point out the obvious but we are carrying considerable debt due to the ridiculous amounts spent on the stadium.