Tottenham fans have been warned by Alasdair Gold not to expect a cash injection from Joe Lewis to help the club through dire financial times.
The club face mammoth debts of £852m, detailed in this weekend’s Sun, and investment into the squad, already frugle at the best of times, is expected to be hindered by Covid-19 losses and the absence of the Champions League.
MORE: Repayments On Stadium Will Now Exceed Transfer Budgets
Lewis, 83, has an estimated net worth of £4.358 billion, according to The Times rich list from 2019, an increase of £462m on the previous year, but Football London journalist Gold thinks it would be well out of character for the ENIC owner to come to the rescue this summer with a bag full of cash.
This is hardly a surprise. A football person would know now is the time to take a personal financial hit for the good of the club. We have a manager proven to win trophies with investment and the anticipated state of the transfer market may be a great equaliser for some of our biggest rivals.
But Lewis will continue to line his own pockets while Jose struggles on scraps and leaves us floundering in mid-table, through no fault of his own.
5 billion… Last year alone he made a personal 460 odd million….. Hes got enough cash to end world hunger… Ten million to lewis is crumbs. He would miss that like I miss a tenner.
If we bought a decent striker in the last window.. If our club was run properly then I wouldn’t give a flying monkeys… Take away 3 or 4 players and our team is rubbish.. When the game revolves around money, where money rules, it has to be relevent.
Joe does loads from hotels to Australian agriculture. Made the base of his billions through the stock market in the 80s and tax evading. Hence why he has lived in the bahamas for 30 years. He is a toe rag. A criminal in fact, you do time in jail for tax evading.. Levys practises are seemingly more mysterious.. Ceos and owners may do what they ‘legally’ like but i think somethings very wrong when heads of companies stroll of into the sunset as millionaires and billionaires. Whilst leaving the company or business or club a billion in debt or bankrupt… It shouldnt be allowed.. They should bankrupt themselves… Whether its a football club or building business, property developer, shop owner, its no coincidence many go under, while their bosses are rich. They manage to sort themselves right out, but not their businesses. Laws are obviously soft and exploited.
I personally don’t believe that levy is stealing money out of the club. He gets a fat wage from Joe with some bonuses maybe and that’s it. I’m sure levy has other investments too. God knows what Joe does but he can do what he legally likes really, Its his club/business.
I see the sun was reporting 340mil odd.. Forbes tends to be more reliable and credible than the papers. I stay clear from those. Forbes may be wrong, but i doubt it, the likelihood is that sun ‘wishlist’ you read isnt entirely accurate.
So Levy rises from 340 mil (and the rest) into the billions.. All while the club goes into nearly a billion debt.. We are being rinsed.. I wouldnt mind if money was unrelated, but after 3 years neglect, and still we cant buy any players needed that are good enough. If any players at all.. A striker for example. Making a mint at the clubs expense while we continue to underachieve.. If its not related then where has levys money come from?
According to forbes this year Levy hit the billionaires club… So his stock has risen loads from whenever your source is. He is a billionaire.
The debts the whole number owed. Unless one pays outright then its interest all the way until its payed… Its shocking really, lewis and levy are minted so why loan. Why give away hundreds of millions when they could have payed it themselves.. Because there was risk of it going wrong, risk of huge debt and bankrupcy.. So they did it at the clubs expense and on the clubs back. Suprise suprise poch couldnt keep the miracle working up, and now we are in a global pandemic so pretty much everything that could go wrong has gone wrong.
Ive been saying the same thing – it’s a great time to invest potentially. Smart business men will recognise this. Let’s see if Levy is as smart as he thinks…
£852M is the figure we will end up paying over 25 years. The debt is £637m. The potential interest accounts for the rest.
£852m is what is now owed.
Your mortgage is not the value of the house the day you bought it, it’s that number, plus the bank’s earner.
Sad that Lewis won’t put his own money in. This could be a great time to invest in the squad. £100m will go a lot further this summer than in the next few.
He’s not a billionaire. Not close. His worth is about £340m.
I think this is misleading. The debt is not £852m, it’s £637m. We will end up paying £852m including interest but over 25 years. this is standard practice – My mortgage is the amount I owe today, not the total I will pay back over the next 18 years. If it were to be paid back tomorrow the cost would be £637m or there abouts.
Jose is not entirely blameless. Wrong appointment from a chairman who has only ever got 2 managers worthy of note. Lack of investment on the playing side along with the global pandemic will leave us lagging behind. Newcastle will overtake us if their takeover is successful. Tavistock group owns over 200 entities and Enic is just one of them, don’t expect any funding from Lewis, ever.
Why did Jose take the job has to be the question.
He is surely putting his trophy winning reputation on the line by taking a role that has brought little success on the field during the past twenty years. Maybe that’s the pull for him, he probably thinks he can change the attitudes of Levy and co , but there must have been detailed conversations that covered the subject of achieving success as a football club,with enough encouragement for him to say yes. I am trying to take the optimistic approach here, hoping the future finally has a silver lining.
I don’t see what their flourishing accounts has to do with anything regarding their Tottenham Hotspur business Steve son. You know how they run the thing.
lewis ain’t got no cash to chuck to Tottenham. All his money is out there working I would imagine. I bet he ain’t got more than £10 million cash floating about. (Floating about cash dont make any money. Levy probably got more liquid than Joe. Them man ain’t putting any of their personal money into Tottenham. Levy saving up to buy joes 85%. 🌚
As I mentioned in my last post, loaning the club some money to take advantage of the meltdown in transfer conditions would be a good business decision. It is nothing to do with the fact that they don’t even like football. They would steal a march on our rivals at a discounted price. Lewis’s business career has been full of risk in the past.
As everybody else has stated this is not news.We know what to expect with those two and it’s no help to the team.
Mourinho will have earned his corn if he fashions some sort of success out of the ENIC financial constraints.But I fear he will be another manager leaving with a huge sense of frustration.
The club’s debt is due to last a generation if we’re lucky.Get to used to 30 years of frugality.
Alasdair not really telling us something we didn’t already know. I stand to be corrected but neither Lewis nor Levy have ever put a brass farthing of their own money into Spurs, never have never will. They’re not fans, they’re business men pure and simple.
Alasdair not really telling us something we didn’t already know. I stand to be corrected but neither Lewis nor Levy have ever put a brass farthing of their own money into Spurs, never have never will. They’re not fans, they’re business men pure and simple.
Alasdair not really telling us something we didn’t already know. I stand to be corrected but neither Lewis nor Levy have ever put a brass farthing of their own money into Spurs, never have never will. They’re not fans, they’re business men pure and simple.
Correct. Why is our transfer and wage budget illogically so small compared to even smaller clubs in the division?
Because a large portion of the money that could and should be used for football purposes is being used elsewhere. It’s as simple as that.
But hey, we are just fans so what do we know about tuning a football club right? Wrong, this is just about the priorities of the people running Spurs treating football as incidental rather than essential to their business plan. Of which already had serious holes in it, long before Coronavirus hit…
ENIC OUT.
I have always thought that Alasdair Gold’s site to contain regurgitated drivel. Notwithstanding that, it makes sense for Lewis and Levy to put their hands in their pockets at this juncture and make the club a loan. This would be a good business decision now as we could take advantage of the weakness in the global transfer market to really resuscitate the squad to the extent that we could steal a march on our rivals. If we are not proactive now, Mourinho’s hands will be tied. What is the point of hiring a serial winner without giving him the tools to do the job? Not investing now could mean mid table mediocrity for some time to come which would hurt Enic’s pocket.
Lets not forget Levy who is also a billionaire… Their own accounts flourish… While we suffer…………… Billionaires shouldn’t have to ‘loan’ money.
This insightful stuff from Gold.
Almost on par with his announcement that the club “had never been so calm” just 24hrs before Poch was fired.
Many said from the beginning that how Mourinho fares on an enic austerity budget will be the true measure of his abilities.
As for J Lewis, he and levy will always be lauded for “delivering” a 1.2 Bn stadium (3× the original estimate) as if it was funded with their own money rather than the club’s transfer budget.