Every penny is ploughed back into the team. That’s what he told us. The caveat being, of course, that’s only once they’ve finished re-routing your money into bricks and mortar. It is useful to bear in mind that ENIC, while experts at borrowing money, only operate this skilful degree of leverage thanks to Tottenham Hotspur Football Club’s good name. Over the last two decades, we have been fine-tuned into an AAA credit-rated operation. Hence, the access to elite borrowing offers such as the Bank of England’s not too distant offer.
Football London has confirmed that an application made in 2016 has been green-lighted and an extreme sports building and community health centre will soon be on their way. While anything truly for the community is a good thing, the other ‘project’ appears to be another money-making exercise, unless this will operate on a free for all basis.
The notion that ENIC has sunk in excess of £1billion into ‘the club’ is risible. What money has been ‘sunk in’ has been rather tragically away from the football team?
Couldn’t agree more H!
My own sentiments exactly MS. Rampant ‘woke’/virtue signalling drivel from the cultural Marxist mandarins and PC zealots hell-bent on destroying (what’s left of) Western civilisation.
The angels have fallen! Victoria’s Secret replaces its racy catwalk show with ‘diverse spokeswomen’ including Priyanka Chopra and Megan Rapinoe along with transgender and plus-size models (and they WON’T be posing in bras)
More politically correct madness. A great example of how to destroy your own brand. Similar to what Levy has achieved at Spurs.
I saw that pressure was being put on brands to not advertise on that new GB news channel. Just nonsense. It will end in tears soon. The silent majority will win out in the end. A bit like in referendums and general elections.
The world has gone mad. I am sick of lockdown, sick of TV channels with their attempts at positive discrimination by showing adverts full of ethnic minorities, sick of Sky Sports with their BLM cr*p and their token dopey female commentators on male sports. GB News have had adverts cancelled by large corporate entities after pressure from Stop Funding Hate. Piers Morgan called Ikea “virtue signalling twerps”, and whatever one may feel about him, he is right again.
The only thing that cheered me up momentarily was reading Dominic Cummings’s comments on Hancock and Johnson but that amusement was brief when I realised that we are governed by half wits.
I’m sick of all this absolute nonsense
Enid Blyton has been cancelled by English Heritage. I know this is not relevant to this post but it has added to my never ending feeling of depression about Spurs.
As THFC is solely a vehicle for Lewis and Levy’s self-enrichment you can be sure, given Levy’s track record, that they will be asking an extortionately unrealistic amount for the club, which will include a whopping pay-off to be trousered by the principals of ENIC, on top of covering the crippling generational debt incurred by them.
Having been woefully ignorant until WHL was being condemned, I cannot claim to have been proactive on the ENIC agenda. I’m interested to understand whether the site is getting more traffic now Levy seems to have been uncovered. Or is it just us old farts that really want meaningful change?
A sobering read. My biggest worry is that what ENIC would want in any prospective sale would exclude the crippling debt. The club is too dear for any potential purchaser.
It’s the only way to get levy n co out hit them where it hurts their pockets more need to boycott I would go as far to not get sky but strips days out at stadium the spurs shops all ways to show levy we want change it won’t happen as he doesn’t care
For most sentient life-long Spurs supporters … (no really, it’s not an oxymoron!) … the penny dropped a long time ago that ENIC is first and foremost a property investment business and Levy, our beneficent helmsman … (pardon me, I was reading the ENIC official pamphlet!) … and Levy, our insincere, prevaricating, sock puppet of a chairman … with his first class Cambridge degree in land management … (alas not football management!) … a footballing neophyte nepotistically promoted above his level of executive competence.
Accordingly we have a magnificent portfolio of real-estate, lovingly assembled by our selfless ENIC benefactors … (pardon me, the ENIC PR script popped onto my screen again!) … I mean debt financed to the tune of a billion pounds with the entire liability collateralised against the assets of THFC … thus precluding any financial encumbrance being allowed to inconveniently sully the pristine credit rating of our twin pillars of altruism, Lewis and Levy! … [Just unfortunate that the stellar property portfolio couldn’t have included a couple of world class centre backs!]
So there you have it, the ENIC property empire, club mortgaged to the hilt, sails intrepidly forth into a brave new post-pandemic reality. The grandiose real estate ambitions of our dear leaders hardly eclipsed by reality of the new global economic paradigm. This in stark contrast to our on-field ‘great reset’ however! Cut price Championship bargains, Ligue 1 cast-offs, hopeful punts from our vaunted academy, all under the prudent stewardship of our very own exemplar of parsimony, Daniel Levy. No doubt misty eyed in the embodiment of our famous club motto … “Audere quoque pretiosa est” = To dare is too dear!
I’m not sure Levy is actually in possession of all his marbles.
The decisions he has made over the last few years, before during and since the stadium move have only gone to taint the whole process and the ‘brand image’ of the club. If not of the new stadium itself.
I’m pretty sure a ‘massive’ naming rights deal for the new place was always part of the plan, but here we are over two years after it opened and still nothing. The pandemic will be constantly trotted out as the reason for all of Levy’s failings over the last 18 months but this has nothing to do with it as far as I see it.
Firstly, I would have been courting potential stadium sponsors, while were in the Champions League at WHL and during the two seasons at Wembley. Make hay while the sun’s shining as they say, but no, this is Levy and that would have been far too straightforward.
Perhaps sponsors were courted, perhaps Daniel haggled until the sponsor got either bored or thought this irritating penny pincher wasn’t the kind of chairman that was ever going to come good on any predictions he will have made regarding the club’s trajectory?
I have to say, if there had have been a ‘blue chip’ sponsor close to agreeing at some point, I would suggest they actually got out of jail here. The Dopey Conference isn’t something a big sponsor would want to associate their brand associated with I would wager. It’s a third rate competition, and who want’s their products and services associated with something third rate?
You couldn’t make this sh*t up… Levy is useless.
I dunno JG, John could be one of life’s perennial moaners, if so I’d probably want him off the payroll too.
No offense John, I’m sure you’re a beacon of light in the workplace!
Top fan!
There must be some really stupid Spurs fans out there if they are still falling for Levy’s lies and BS. If you believe a word that comes out of Levy’s mouth you need to give your head a wobble.
H I saw this story yesterday was awaiting your response mate. Summed up my thoughts perfectly cheers!
Ive just learnt; This is what prudence looks like
Levy.”I often read in the media about some of our fans criticising that we don’t care about the club, we just care about money.
“What I say to them is that every single penny that goes into this club, whatever the revenue source is, whether that is purely football or third party events like conferencing or concerts, it’s all going back into the team. Every single penny that comes into this club will go back into the team.
“All we want now, having spent all these years getting the infrastructure at this club in the most fantastic position, is to invest in the team.”
The Reality: However as we have said before we are in a different project than other clubs and as such the pandemic has affected us far greater than those other clubs, As such we must remain sustainable by not investing a single penny that comes into this club back into the team. All the revenue whatever the source must go back into servicing the billion dollar debt we have created to get this clubs infrastructure in the most appalling generational debt legacy in its history. We care very much about how we can use the THFC brand and historical reputation to avoid having to invest a single penny of our own money into the club.
Any manager of any business or owner for that matter that says if you don’t like it you can always leave. That manager / owner isn’t very good at what they do. It’s a cheap way of controlling what is ostensibly a poorly run business/company.
My advice to you… Seek pastures new.
True…and I have made it my mission not to spend another penny on ‘ our’ team. I will boycott the stadium never again buy a new spurs shirt will not even pay sky to watch spurs on TV but watch them free on the internet.
We can moan as much as we like. I was moaning about my job recently & the boss’s boss’s boss called me in & said that there are other jobs out there if I’d like to explore other opportunities. The same with ENIC, Lewis & Levy. They’re not football fans, just businessmen looking to make another pound. They’d say the same – if you don’t like it, there’s the door. They just don’t give a flying one about the football & I’m sorry to be negative but the present is the future. Benitez would have preferred us to Everton I’m sure, for obvious reasons.
I had a,dream recently where I watched a giant glittering diamante-covered cockerel get crane-hoisted atop the 20 storey Tottenam Hotspur Casino on the Las Vegas Strip.
Feel like a broken record but we’ll always be a business and never a football club while we are owned by ENIC/Levy