€685million is KPMG‘s magic number. I’ve made my thoughts on the entire subject very clear and would only add that whilst I cannot be certain, but it looks and feels as if the same type of people that used to laud Daniel Levy for not bankrupting Tottenham, are now using the same levels of disdain when talking to us about the extraordinary debt the club finds itself in.
What might also worry me is how quickly human beings can adapt. I guess that’s hardly a surprise in strictly anthropological terms, but after the first lockdown in England the barbershops reopened up – they were empty. Everyone had bought themselves clippers or discovered the wife wasn’t too shabby with a pair of scissors.
Will the high volume of crowds that Levy pictured queuing around his spaceship, now ever materialize? That’s not a dig at the great man, rather a thought based upon seeing barbers and pubs for that matter, suddenly having more staff than customers.
Today Reuters ran with a piece that the Nationwide Building Society was introducing a remote work setting for most of its staff, and John Lewis is gearing up to permanently close 8 UK stores.
Suddenly, ENIC’s award-winning venue with record retail space is looking like it might be somewhat anachronistic.
Cush. Tottenhams 25 year Bond along with our massive earning potential cant be compared to the Leeds situation. Don’t jump on the negative hype cush. Don’t watch dat. Don’t follow the sheep
Cheese shop? There is no cheese room!…. If Botch could have managed his team to beat Leicester, Birmingham and Stoke to titles then our record wouldn’t be so bad. 6 years of failure there, best defence in the league with a multiple golden boot winner.. Then was our chance to win stuff. All the top teams were struggling.. We were never winning much in the previous years because of Citys rise and spending, Chelseas rise and spending, and Sir Alex’s United dominating.
I know it was 20 years ago now.. But Leeds were in debt around 119 million before selling players and getting relegated.. Then their debt rose to around 180 million.. At this rate ‘ doing a leeds’ will soon change to ‘doing a spurs’.. With a whole new meaning.
I’m sure one day Levster will get people into the stadium when the process is complete. Look up microneedle patch vaccines.
Rev:13.
Couldn’t agree more, you are being to kind to him!
Juventus, Inter, Barca, Roma, Fenerbache, Porto….I think
And, yes, as you allude to, the stadium , certainly from the outside, is something of an eyesore, too.
PSG want Dele for 30 million and Levy wants 80 million? If the boot was on the other foot and the schmuck was buying Dele for us, he’d probably be trying to get him for about 15 million! This doesn’t mean he’s just a hard headed businessman and very shrewd; it just shows him up as a tosser that no-one wants to do business with.
You’d have more fun in Blackpool, and it wouldn’t cost as much.
I’m a bit of a Victorian when it comes to money; I don’t believe in all this leverage, a disease the whole world has caught from the good old US of A!
Don’t know the others!
Juventus, I think perhaps Roma and Fenerbache.
I seem to recall Wimbledon (actually not certain it was them) having a wage bill that was 187% of turnover! Amazing. Of course when these chairmen were making their money elsewhere they were very likely paying their staff as little as they could get away with! Yes, the emotional investment in football.
Prison island laboratory☠️
I wish it would be….you said I’d get a pint ok last week, today in the media NO PINT WITHOUT VAX…..says Boris etc
Lucky I don’t drink anymore😳 but it’s still unlawfull to the max…
Exactly!
Three or four years was a quote from Legoverlass below which I thought too pessimistic. I am in complete agreement with you over Covid which has been completely blown out of all proportion. We need to rid ourselves of this vicious cycle ogf going into lockdown, reopening and then going back into lockdown after a slight spike in cases. What is the real number of people that have died from Covid? Nobody should be forced into having a vaccination if they don’t wish it and the idea that you need a vaccine passport to go into a pub is a farce. Furthermore, it is a disgrace that the government have deemed it fit to fine people £5,000 for going on holiday. We have descended into a police state led by that great libertarian Boris and his scheming bint.
Look at the debt of the others but also consider what they’ve all won over the last decade. What do we have to show for it?
A Sky Walk, a massive place to get drunk in and a cheese shop. Shall we just rename ourselves Blackpool Pleasure Beach and be done with it?
We are about one third football club, the other portion is made up of debt and dated ‘revenue streams’ dreamt up about 15 years ago…
That must be the worst debt to income ratio ever in world football?! 🤔
Three or four years? They should be letting people in now, We are at the stage where they are jabbing people with next to no vulnerability whatsoever. So what if it spreads, if it hardly hospitalises anyone what’s the difference between that and trying to vaccinate whole population, which won’t happen anyway.
if people take their chances and don’t get vaccinated then it’s their right to do so. The NHS was never AT ANY POINT overwhelmed by the outbreak. So how can it be now with 25m people covering all of the vulnerable groups now vaccinated?
Why aren’t we opened up to at least where we were during the summer? We have the lowest hospitalisation and death rate since it all started. Might as well kill off even more of Amazon’s competition while we’re at it eh? 🤔
He paid himself an extra 2 million quid last year, for being rather skilful at using other peoples money! 😂
I can make out Barca I think apart from that I conclude my eyesight is as sh!t as yours.
Coincidence that if you want to protest and accidentally make a noise such as a cough or sneeze you can be hauled off to klink or maybe this new Devil’s Island for refugees.
Or alternatively a Golden age for robber barons and vulture funds.
We are top of the Debt League, we are top of the Debt League….
Stop hyperventilating over it, will be fine 😉
Can somebody help me out and state the clubs behind us. All I can see is Man U after us I cant make out any others. Thanks
Stop financing the bald Mr Bean and his mercenary owners I say. Spend your hard earned money on something that’s good value, not smoke and mirrors THFC, and stop paying Levy’s grotesque salary whilst he is screwing you all over. I bet if the government asked for that money everyone would shout “unfair tax”.
We’re doomed….
My understanding is the training ground is also mortgaged at around 40m so not sure if thats included in that list…
My view is it’s too expensive to sell and so will be used to bank roll more property development by borrowing against it in a never ending cycle, just like our player recruitment….
It’s the take-over by tech giants of farming thats next, buying up family land off poor African & Indian families by promising them their new “digital farming” will help them grow crop….in the end the likes of Bill Gates and Facebook etc will own most of the worlds food distribution “bringing people together”…!!
I am not sure if it will take 3-4 years to get back to some form of normality regarding crowd attendances if the vaccination process works quickly as people generally have short memories but all clubs must be looking at their P&L and balance sheets as they are caught between dwindling crowds and falling revenue from pay for tv channels. It will only be a question of time when advertising revenue crater as the sponsorship deals run their course and the sponsors terminate or renegotiate down. We are looking as if we are caught between a rock and a hard place as our much revered chairman has plunged us into debt at a terrible time. It is ironic how many supporters applauded Levy for his business skills and continuously uttered the tired old mantra that “we would never do a Leeds”. Now we have appeared to do exactly that but instead of overloading our balance sheet with debt by buying expensive players, we have a white elephant of a stadium. As other commentators have mentioned, if only we had spent half that money on the stadium and properly reinforced the squad, we would be in materially better position. I wonder how long it will be before football clubs work out that their biggest cost is player wages? Will they ever grasp the nettle and initiate a wages cap? How can Barcelona continue to pay Messi’s outrageous salary? We certainly won’t be continuing with Levy’s vanity project in paying Bale’s salary after this season. What a disappointment he has turned out to be as a footballer and a man, with his ridiculous hair and the nauseating smirk on his face as he goes through the motions whilst enjoying the club’s largesse.
The other problem will be selling players. Given Levy’s outrageous valuation of £80 mill for Alli, what will he demand for Kane or Son? Where will the money come from to build a new team so that we can realistically challenge for honours? The answer is that there won’t be any money, so the only viable solution is for the President of Patagonia to sell up or we will become a mid table team flirting with relegation.
England v San Marino.
Really?? Is there any point? Any point at all? Those San Marino players travelling, no problem. Just for an uncompetitive hiding….
You want a holiday?
F#*k off.
It stops when we all stop it.
I said by October they will lock us down and shut everything again. (That was before any talk of 3rd waves) their game is so predictable now I’m at a loss how it’s working still. If people fall for the “3rd wave” too and don’t stand up it’s over. They will play the variant card forever. Fans won’t be in grounds in the same way ever again. We’ve been done.
Among other things this nonsense is about getting rid of the High St, small business, the middle class and have just the massive corporate entity’s running things cow towed by a state dependent underclass on social credit, all tracked and traced…..for their own safety of course.
Who would have much preferred to be in that debt (or half of it)but have a couple of titles and pots to enjoy and look back on and a team to be proud of in the THFC tradition than to have a big eyesore NFL/events arena and nothing on the pitch??
The facility cult exist so some may answer the latter, and that displays how far gone we are.
WE ARE TOP THE LEAGUE SAY WE ARE TOP THE LEAGUE 😥
Good to see that ENIC has finally got us to the top of a table. You make a very important and salient point H concerning crowds returning to stadiums. I can see that attendances may return but not at the levels previously. We look like we will be heading for the third wave of this pandemic next autumn. I like yourself have no desire at the moment to be part of some global experiment on new vaccine technologies and I use the word technologies in this context deliberately. There are very good chances that the vaccines currently being delivered will not be as effective against the numerous variants that are appearing and as such we may well see spikes again in infection rates as a result of the easing of current lockdown restrictions. That may well necessitate further restrictions regarding large gatherings of people at events. This could impact the number of people that can attend football matches. Ironically we may just have spent a billion dollars on a new multiplex venue that holds over 60,000 that may not be able to have even half that number again for several years. Remind me again of the capacity at the old White Hart Lane? Ouch….. Uncle Joe may pull the plug on this situation if it looks like it is not going to generate the cash flows he and Daniel son predicted. That may force a disposal and new owners arriving. To be honest I think it will be 3- 4 years before this pandemic starts to disperse to a degree where people can congregate as before. However, many businesses have now found that with technology and the imminent arrival of 5G, remote working is now not only viable it makes a lot more sense than funding expensive overhead structures in increasingly lean and competitive online markets. This is the new normal. I think Daniel needs to revisit his business model for the future as it looks like it will be a lot different from the one he envisioned. If only he had invested in the football team instead rather than real estate. We might have a shelf full of trophies, quality, and motivated players, and next to zero debts. Squeaky bum time for the bean counters at THFC.
You can add 111 Santander stores to that list ,the world has changed forever.
Well at least we are top of one table and against some pretty impressive opposition too.
To quote Private Frazer in Dad’s army….”We’re doomed!”
As much as I despise the owners, sadly this virus and the absolute fascination with it to the detriment of any, and every thing else means owners as with any new or existing business couldn’t have predicted the damage it’s going to do to society in general.
Ultimately Spurs fans will suffer from the owners continued lack of investment and most likely even less investment as they try to recoup some of the losses of the past 12 months and as we go forward.