widmerpool
Well-Known Member
- Jun 18, 2012
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Not that many variables to play with, unless they were keeping Levy on.
Takeover talk
- Thread starter jonathanhotspur
- Start date
Not that many variables to play with, unless they were keeping Levy on.
Metalhead
But that's a debate for another thread.....
- Nov 24, 2013
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Sell-on clause?
widmerpool
Well-Known Member
- Jun 18, 2012
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Yeah. Suppose so. It's called an anti-embarrassment clause in M&A land, strangely.
titan
Well-Known Member
- Jul 2, 2013
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It would be much easier to get permission from the league to relocate or for a new franchise, with your own stadium rather than with a ten year lease option from us or wembley.
Lets not forget that the NFL enquired about the olympic stadium so a franchise in London is not far away. Cant be bothered to look when it was said but Roger Goodell said he wanted a London franchise within 5-10 years.
Bus-Conductor
SC Supporter
- Oct 19, 2004
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Don't now about you lot, but the thought of one of these American WM groups purchasing the club scares the shit out of me. These aren't Oligarchs/Kleptocracy's looking to spend big to legitimise or raise their profile or even for shits and giggles. These are just cold hard money managers, whose raison d'etre is the dividend and will just see Spurs as franchise investment.
The only upside to this would be watching those that continue to bitch and whine about Levy go into hyper-menstrual mode when they end up with a chairman who is not only not a Spurs fan, but is even more a worshipper at the Church of Bottom Line.
The only upside to this would be watching those that continue to bitch and whine about Levy go into hyper-menstrual mode when they end up with a chairman who is not only not a Spurs fan, but is even more a worshipper at the Church of Bottom Line.
Gaz_Gammon
Well-Known Member
- Apr 16, 2005
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A club is a risk (or not) whoever takes them over be it a billionaire owner like Kronke at Woolwich' or a finance house.
That statement is a little melodramatic and do you seriously think ENIC aren't trying to squeeze profit out of the Club? Whoever buys Spurs will see it as an investment, after all i would guess thats what you brought the house you live in for?
As for the "cold hard money managers" bit, do you truly think that Uncle Joe got his billions from selling Green Shield stamps the past half century down at Southend lido?
'O Zio
Well-Known Member
- Dec 27, 2014
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All valid points, but I think there's a big difference between now and when ENIC took over. ENIC bought the club, give or take, at the "bottom of the market" or however you want to phrase it. They bought us when we were unsuccessful, had very little to be positive about etc. and therefore they got us for a relatively cheap deal. In order to make money out of the investment, they knew they needed to turn us into a successful club. Presumably they'd already done their due diligence and knew that we had the fanbase required to support a new stadium and all that goes with it one day, so it was a case of making the club successful enough that they could either save up the money for the stadium or, at the very least, make it an attractive proposition for third parties to invest in. Now that that has all been achieved, if ENIC were to sell the club once the stadium is built, it would be almost at the top of the market, therefore it's hard for a cold hard investor looking to make a quick profit to really do anything with it I'd have thought. If ENIC can polish a turd and sell it for gold then they stand to make a massive profit, but whoever buys that gold isn't going to be able to make much profit I wouldn't have thought, unless they take over with the sole intent of stripping the club of all its assets and making a quick buck but even that isn't so straight forward.
If you've a multi-billion dollar investor, there are much easier ways to make money than buying a football club.
topper
Well-Known Member
- Jan 27, 2008
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I didn't realise that - I thought it was through currency dealing! That's what I like about this forum; you learn something new every day!
Bus-Conductor
SC Supporter
- Oct 19, 2004
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Do you mean a club is at risk?
I appreciate that, and WM outfits are just one of many that worry me, But at least a multi billionaire oligarch or Arab sovereign wealth fund looking to large it up would come with the initial promise of a few years of glorious, cash spunking success. Their motives and modus operandi might be more benevolent than a wealth management fund.
The difference with Lewis/Levy (which is what ENIC fundamentally are) is that one is a lifelong Spurs fan, they were always in this for the long my haul, they had prior experience of football club investment (Scotland, Czech, Switz etc) they had good knowledge of the English market and bought into it at the right time and have invested in the infrastructure and proven to be stable and forward thinking in developing the business.
There is a massive difference between how oligarchs (Chelsea) or arab sovereign wealth funds (which are extensibly just family funds of ruling dynasties - ManC, PSG etc) operate to how a regulated American investment fund representing a multitude of investors operate. The former are not really driven by profit (not always anyway, and certainly not short or medium term) they often want to just raise their profile, legitimise it, have fun and are not scared to invest heavily to achieve footballing kudos.
Edit
And Joe Lewis made his fortune by shorting the pound on black Monday.
Last edited:
Gaz_Gammon
Well-Known Member
- Apr 16, 2005
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Interesting take, but again the sole intent of stripping assets from a sporting club simply does not add up or indeed make any logical sense. I don't see the mad Russian or the Arabs doing that? I mean even Kronke is adding value to Woolwich so the scaremongering and general misunderstanding of a company buyout (private or not) is quite funny to read.
Mismanagement is another thing entirely though, and the PL and Football League in this Country it littered with broken dreams, over spending and mis-management. But that goes on throughout business whether it be football, groceries, mountain bikes or fridge freezers.
Bus-Conductor
SC Supporter
- Oct 19, 2004
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But there's the difference, the Oligarchs and personal investors like Kromke and Usmanov aren't really the same as a managed wealth fund. People like Abramovich or the Arabs have a completely different raison d'etre. You seem to be missing the point completely.
Gaz_Gammon
Well-Known Member
- Apr 16, 2005
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So you would or wouldn't be against a potential purchaser using a holding company to cover the debt?
Who do you think this Bank finances?
Bus-Conductor
SC Supporter
- Oct 19, 2004
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Depends, how much debt and what debt structure?
Would I be comfortable with a Galzer type structure of an almost 100% leveraged debt buyout, fuck no.
And it's not just about how the club purchase is financed, it's about how the club is run and ultimate intentions of the owner.
'O Zio
Well-Known Member
- Dec 27, 2014
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I think the Russians and Arabs are a completely different animal. To them it's not about making a profit/being a business investment, it's purely a play thing in their weird game of life. To them it's like buying a Ferrari - Is it the most sensible way to spend money? Of course not, but it's sure as hell a lot of fun. In Abramovic's case it's also a lot about establishing himself as a very publicly visible figure in the west to make it more complicated for certain people back home to put a bullet in the back of his head. But that's a story for another time...
Anyway, my main point wasn't that the club would be bought and stripped for assets. It was more that anyone buying a football club as part of their duties managing the wealth of others and investing it, would probably not want to buy Spurs because it would be buying the club at probably the most expensive it's ever been in history i.e. at the top of the market almost. In order to take it to the next level i.e. becoming a dominant force in world football, would require an enormous investment and a lot of risk, so people managing an investment fund have easier ways of making money so are IMO unlikely to buy the club. If it gets bought by anyone it'll be some billionaire looking for a toy IMO.
JUSTINSIGNAL
Well-Known Member
- Jul 10, 2008
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Personally I don't see us being taken over for a long, long time yet. We all know Levy is a lifelong fan and therefore has an emotional attachment, and by all accounts Lewis's daughter is now heavily involved too. If somewhere down the line Levy has health problems or the we suddenly start going on a downward spiral, then yeah, maybe he will sell up, but I just don't see it happening for a long while.
WalkerboyUK
Well-Known Member
- Jun 8, 2009
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Agree, and one of the problems with this is that, in US sports, the money is pretty much split evenly across all teams.
In the NFL for example, no one team makes more money than any other, be it from gate receipts, merch or TV. If a Tom Brady shirt is sold, the money is split between all the teams, not just the Patriots.
Likewise, with a salary cap, there's no need for the owner to stump up big money to outbid another team. They just get the next player in line instead.
Therefore being taken over by a US group, as the likes of United, Liverpool and even Villa have seen, guarantees jack shit financially. The football club just becomes another asset in their portfolio.
titan
Well-Known Member
- Jul 2, 2013
- 123
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I'm not as down on a well management fund buying Enic out, especially one as big as reported. At the end the day they view us the same as ENIC which is an asset. And their goal would be to build the brand with the companies already in their portfolio our sponsorship deals would be immense.
Asset stripping really wouldn't be a worry because the big money would come from the resale. Look at Liverpool for instance Hicks and Gillet made something like 200-300million in 3years just In the sale to FSG.
Asset stripping really wouldn't be a worry because the big money would come from the resale. Look at Liverpool for instance Hicks and Gillet made something like 200-300million in 3years just In the sale to FSG.
THFCSPURS19
The Speaker of the Transfer Rumours Forum
- Jan 6, 2013
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http://www.arabnews.com/node/1133806/business-economy
British financier Amanda Staveley ponders deals for Liverpool, Tottenham football clubs
LONDON: Amanda Staveley, the financial entrepreneur who has done deals worth billions of dollars in the Arabian Gulf, is considering deals involving two English Premier League football clubs, Arab News can reveal.
In an exclusive interview in London, Staveley — who runs the $28 billion private equity fund PCP Capital Partners — said that she thought the multibillion-dollar English football business was “an attractive investment.” PCP is an investment vehicle for sovereign investors in the Arabian Gulf and Asia.
Staveley has extensive experience of the world of football. She was involved in an ultimately aborted 2007 deal that saw Dubai investors attempting to buy Liverpool football club; and in 2008 she advised the vendors of Manchester City in the £210 million purchase of the club by Sheikh Mansour bin Zayed Al-Nahyan of Abu Dhabi.
Staveley declined to identify the clubs she is interested in, but they are believed to be Liverpool and Tottenham Hotspur.
A potential deal for Liverpool is believed to be the more advanced. Last year, a £1 billion bid was halted after news of an approach by Chinese investors leaked prematurely. The current owner, the US-based Fenway Sports Group, insisted the club is not for sale. But a new higher offer might succeed, according to people familiar with the situation.
The other possible acquisition is of Tottenham Hotspur, the north London club. There have been tentative talks with the club’s owners but any potential offer is thought to be some way off, sources told Arab News. There is no certainty either deal will materialize.
Tottenham is in the middle of building a new £800 million stadium and any sale is thought unlikely until after that is completed. The owner, Bahamas-based billionaire Joe Lewis, is thought to have put a £2 billion price tag on the club after its new stadium opens.
Tottenham recently denied it was in talks with a fund invested by Facebook owner Mark Zuckerberg for a £1 billion takeover.
Staveley also talked of her enthusiasm for the opportunities offered by the transformation underway in Saudi Arabia, with the initial public offering of Saudi Aramco worth an estimated $100 billion scheduled for next year, and an additional $200 billion privatization program in the Kingdom.
“There are lots of things we want to do in Saudi Arabia. Technology investment is a big opportunity for us, and PCP has got a big Shariah-finance side,” Staveley told Arab News.
“I’m very excited about what is happening in Saudi Arabia. There are big opportunities in infrastructure, funded by local bonds. We’ve done $7 billion to date in the Gulf in bond deals.”
British financier Amanda Staveley ponders deals for Liverpool, Tottenham football clubs
LONDON: Amanda Staveley, the financial entrepreneur who has done deals worth billions of dollars in the Arabian Gulf, is considering deals involving two English Premier League football clubs, Arab News can reveal.
In an exclusive interview in London, Staveley — who runs the $28 billion private equity fund PCP Capital Partners — said that she thought the multibillion-dollar English football business was “an attractive investment.” PCP is an investment vehicle for sovereign investors in the Arabian Gulf and Asia.
Staveley has extensive experience of the world of football. She was involved in an ultimately aborted 2007 deal that saw Dubai investors attempting to buy Liverpool football club; and in 2008 she advised the vendors of Manchester City in the £210 million purchase of the club by Sheikh Mansour bin Zayed Al-Nahyan of Abu Dhabi.
Staveley declined to identify the clubs she is interested in, but they are believed to be Liverpool and Tottenham Hotspur.
A potential deal for Liverpool is believed to be the more advanced. Last year, a £1 billion bid was halted after news of an approach by Chinese investors leaked prematurely. The current owner, the US-based Fenway Sports Group, insisted the club is not for sale. But a new higher offer might succeed, according to people familiar with the situation.
The other possible acquisition is of Tottenham Hotspur, the north London club. There have been tentative talks with the club’s owners but any potential offer is thought to be some way off, sources told Arab News. There is no certainty either deal will materialize.
Tottenham is in the middle of building a new £800 million stadium and any sale is thought unlikely until after that is completed. The owner, Bahamas-based billionaire Joe Lewis, is thought to have put a £2 billion price tag on the club after its new stadium opens.
Tottenham recently denied it was in talks with a fund invested by Facebook owner Mark Zuckerberg for a £1 billion takeover.
Staveley also talked of her enthusiasm for the opportunities offered by the transformation underway in Saudi Arabia, with the initial public offering of Saudi Aramco worth an estimated $100 billion scheduled for next year, and an additional $200 billion privatization program in the Kingdom.
“There are lots of things we want to do in Saudi Arabia. Technology investment is a big opportunity for us, and PCP has got a big Shariah-finance side,” Staveley told Arab News.
“I’m very excited about what is happening in Saudi Arabia. There are big opportunities in infrastructure, funded by local bonds. We’ve done $7 billion to date in the Gulf in bond deals.”
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