Results as bad as they get so far. If Burnley take a point tomorrow and Spurs lose to Everton they will be in the bottom half after Monday 😬 #THFC #COYS
— Jonathan Veal (@jonathandveal83) July 4, 2020
Jonathan Veal does a decent job for PA Sport on social media, keeping fans comprehensively up to date with all matters surrounding our club in an even-handed manner.
Tottenham’s total debt had crept up to £852million, but that was before the wretched Coronavirus struck and Daniel Levy was forced to take on an additional lump, and I believe it was The Athletic (£) that revealed first that THFC added to the black hole further, to the tune of £175million.
Veal for Press Association points out rather coolly, but accurately that if Burnley were to beat Sheffield United tomorrow, and Everton were to beat us on Monday, then Tottenham would be in the bottom half of the Premier League.
Spare me, please spare yourselves the flannel and accept that if these two single games were to run against our favour, that ENIC have us over a billion in the hole, light years away from the dream we were all missold.
Absolutely…. success on the pitch first and build round it to maintain it.
If you have an interest I football you’d get that. Lewis nd Levy don’t even like football. It was always about investment in real estate
We haven’t won the league since 1961/2
How much longer should we wait ?
Would be nice if Big Joe got involved, but they’re ‘family’, but business is business. The sensible and logical decision is to get rid of him. Even Levy must see that, but when you’re paying yourself £6m a year it’s not going to happen is it? We’re doomed!
I am watching the battle for 3rd/4th with interest too tight to call
Remember what Paul Mitchell said, no modern day football club can go two transfer windows without refreshing the team and not suffer serious consequences.
Everton hitting their stride under Ancelotti too…
Who da thunk it?
Wondering if ‘the project’ was to have us regularly playing Luton Town again within the decade.
Bottom half of the table would certainly be a fair reflection of our form this season. Shoddy.
But how can we get rid of him – he part owns the club. The man is rinsing the fans, and almost seems on a mission to steadfastly hold us back.
I cannot agree with a number of the points in your synopsis. It is public knowledge how much Enic bought the club for, but I was making the point that from the top of the supposed valuation, Levy has managed to dilute that valuation by a considerable amount. You mention that the club is worth approximately £1.5 billion. The club owes nearly £1 billion and by your own previous calculations, a substantial amount is needed to effectively buy a new team, so I am not sure that the club is worth anything like the numbers you mention. I would rather buy Newcastle as a financial investment. As for the poison pill defence, this only works in public companies when the management are trying not to be ousted by a corporate raider. It is much easier to raise debt in the publicly listed sector than in the private sector as the Glazers have amply demonstrated. I also don’t think that American football is a good comparison where there can be only one franchise to support in your hometown. You state that the stadium is a goldmine. We have no idea how peoples leisure habits are going to change. Retail centres are out of fashion. Levy’s got it the wrong way round. He should have got things right on the pitch first and then developed the world class facilities which are used to beat any Spurs supporter over the head who doesn’t like the regime.
The debt is manageable and remember ENIC bought the club for£23 million and have assets worth maybe £1.5 billion, all done with borrowed money. There is further land development planned, more flats and housing and a hotel and in London there will be no shortage of buyers. The stadium is a goldmine and that debt also serves another purpose, its known as I think the poison pill defense in business. If you want to deter other investors from buying your company you load it up with debt. If you want to get one over on Daniel Levy you have to get up very early in the morning. As another poster has pointed out a sports club doesn’t have to win trophies to be successful in modern day business terms. The most valuable sporting franchise in the world are the Dallas Cowboys and they haven’t won a Superbowl since 1995 I think.
At the risk of boring all the contributors on this blog to death, I must repeat that it is all unravelling for Levy. In fact, the speed of the unravelling from last season is breath taking. Who could possibly have thought that from being a CL finalist, we might not even qualify for the Europa League this season? So now we have a debt of £852 mill, and a manager who was appointed to deflect any criticism of Poch’s sacking to bring success to a club who don’t and now cannot spend money. Furthermore, as we slide down the table, the irony is that Levy cannot afford to sack Mourinho on his £15 mill yearly salary which has three years to run. One wonders how much THFC are worth now to any buyer? It is ironic that Levy took all the credit for making Enic and himself so much money on paper and now it appears that he has managed singlehandedly to have cost his godfather and himself a fortune. It is often the case that once somebody appears on the Sunday Times Rich List, there is only one way to go from there. Levy is a completely busted flush and he and Enic will go down in Spurs history as the most reviled regime of all time.
ENIC OUT!
If we don’t buck up our ideas we could quite easily finish as low as 14th. That is some decline from being Ch Lg regulars. Thank you very much Mr Levy, you’ve played a blinder. Just imagine the mess if Poch hadn’t got us to over-achieve on peanuts.
i was having a grim day already…….