Another Levy thread- Credit

[SpurSince57]

Theres a vicious rumour and i mean that in the most literal sense that portsmouth could go into administration by tonight/tomorrow...2+2 does equal 7.5?....in other words harry+storie(levy)=crouch...

Reports of the immediacy of their demise may be exaggerated, but perhaps not by too much. Brian Oliver, a Pompey fan, wrote this in the Guardian in January, shortly after JD's departure:

http://www.guardian.co.uk/sport/blo...fratton-park-harry-redknapp-tottenham-hotspur

The key paragraph for those who can't be bothered to read the lot:

A press release arrived at the Guardian this morning from Equifax, a financial company. They mark companies out of 100 on their credit rating, and the lower the score, the more likely a business is predicted to default on payments. At the top of the scale are Arsenal and Manchester United, both in the 90s. Spurs are on 65. At the bottom, nine clubs are marked 10 or less, including Chelsea. Hull City have one point out of 100. Pompey? Zero, with an asterisk. "*No accounts filed for Portsmouth Football Club at Companies House, so automatically given an insolvency rating."

I suggested at the time that we may have done them a favour by writing off what they owed us not only for Defoe, but for Mendes, because we had serious concerns that we might never see it. Some raised eyebrows at this, but there's no doubt that they're in a godawful mess. A recent Guardian article (http://www.guardian.co.uk/football/2009/jul/11/portsmouth-takeover-sulaiman-al-fahim) suggests that the club is desperate for money to service its debt to a South African bank, and it appears it's a race against time—will the creditors demand their pound of flesh before al-Fahim can ride to the rescue? That looks as if it may be at least a couple of weeks away, assuming he's declared a 'fit and proper person'.

I'm not sure quite how relevant this is to the Crouch situation, except that he's their most saleable remaining asset and they probably have little choice but to cash in on him, but Harry's going to be very clued up on the situation.

 

[cabinfever]

Arsenal and Manchester United, both in the 90s. Spurs are on 65.


Huh?

 

[SpurSince57]

Is it that difficult? :shrug:

 

[BringBack_leGin]

cabinfever, its basically saying that we're pretty likely to meet our payments, but not as likely as utd or scum. basically, we have good credit rating, they have better

 

[Matt C]

benjani's been on the list of possiblities for ages. i wouldn't read in to it too much - he's a cheap last resort, probably only a serious option if we wanted a 4th striker after selling say, darren bent, and using the money for ashley young, for example.

Replacing 17 goals a season with the 3 at best that Benjani would get sure shows a chairman with ambition

 

[codspur]

Replacing 17 goals a season with the 3 at best that Benjani would get sure shows a chairman with ambition

FFS Dude let it go with the Levy bashing it is unfounded bollocks and getting boring...how many people have to tell you this:bang:

 

[BringBack_leGin]

Dude, give it a rest with the anti-DL bullshit. Spending £100m in the past two transfer window's to build a squad full of internationalssays more about his ambtion than anything else! Why do you never allude to that? You are more agenda driven than The Sun journalists.

And now I've spammed :-(

 

[cabinfever]

cabinfever, its basically saying that we're pretty likely to meet our payments, but not as likely as utd or scum. basically, we have good credit rating, they have better

Thanks BBLG, I knew that and I know it's not ITK, but with their new stadium debts, how could Arsenal have a better credit rating than us?

 

[jolegend]

Thanks BBLG, I knew that and I know it's not ITK, but with their new stadium debts, how could Arsenal have a better credit rating than us?

Both United and the Goons are highly geared due to thier extortionate debt. However, due to the masses of income they both receive (Arsenal on gate receipts alone) means their debt is easily serviceable hence why they have a solid credit rating.

 

[Jody]

Thanks BBLG, I knew that and I know it's not ITK, but with their new stadium debts, how could Arsenal have a better credit rating than us?

people who borrow generally have a better credit rating than those who don't - as long as they make the repayments.

 

[Tottenham woody]

Dude, give it a rest with the anti-DL bullshit. Spending £100m in the past two transfer window's to build a squad full of internationalssays more about his ambtion than anything else!

You make it sound as if that money came out of Levy's sky rocket. Every single penny of that money was either from the inflated ticket prices that we pay or from player sales.

 

[TallBlokePH]

Thanks BBLG, I knew that and I know it's not ITK, but with their new stadium debts, how could Arsenal have a better credit rating than us?

That could well be part of it -using credit & always making repayments gets you a better credit rating than not actually using credit

 

[BringBack_leGin]

You make it sound as if that money came out of Levy's sky rocket. Every single penny of that money was either from the inflated ticket prices that we pay or from player sales.

Hey, if you don't want to pay the ticket prices, don't. We don't need this kind of pessimism at the lane anyway. Until it stops me being able to afford bread and milk, I'll pay, regardless of how ripped off I am. So what if the money came from tickets, merchandise, or from the fact that we trebled our money on both Keane and Berbatov while we made over 700% profit on Carrick? The fact is that Levy has the say on whether or not funds are available, not you, not me, not uncle Bob, and Levy made those funds available. If you want a chairman who lacks ambition, the very last place you need to look is White Hart Lane. In fact, our chairman's flaw might be just the opposite, that his ambition for our club leads to rash decisions (sackings of managers; overspending when it wasn't necessary on certain players) and that he needs to stem his ambition on occasion, step back and take in the bigger picture.

But then there'll always be your kind who would rather ignore all the good work and nit pick and whinge at every opportunity, regardless of how unjustified it is.

Jesus H Vishnu, you'd think that Levy had pissed in some posters cornflakes and run over their cats.

 

[TallBlokePH]

Hey, if you don't want to pay the ticket prices, don't. We don't need this kind of pessimism at the lane anyway. Until it stops me being able to afford bread and milk, I'll pay, regardless of how ripped off I am. So what if the money came from tickets, merchandise, or from the fact that we trebled our money on both Keane and Berbatov while we made over 700% profit on Carrick? The fact is that Levy has the say on whether or not funds are available, not you, not me, not uncle Bob, and Levy made those funds available. If you want a chairman who lacks ambition, the very last place you need to look is White Hart Lane. In fact, our chairman's flaw might be just the opposite, that his ambition for our club leads to rash decisions (sackings of managers; overspending when it wasn't necessary on certain players) and that he needs to stem his ambition on occasion, step back and take in the bigger picture.

But then there'll always be your kind who would rather ignore all the good work and nit pick and whinge at every opportunity, regardless of how unjustified it is.

Jesus H Vishnu, you'd think that Levy had pissed in some posters cornflakes and run over their cats.

Very well said that man! :clap:

 

[tony_parkes]

Hey, if you don't want to pay the ticket prices, don't. We don't need this kind of pessimism at the lane anyway. Until it stops me being able to afford bread and milk, I'll pay, regardless of how ripped off I am. So what if the money came from tickets, merchandise, or from the fact that we trebled our money on both Keane and Berbatov while we made over 700% profit on Carrick? The fact is that Levy has the say on whether or not funds are available, not you, not me, not uncle Bob, and Levy made those funds available. If you want a chairman who lacks ambition, the very last place you need to look is White Hart Lane. In fact, our chairman's flaw might be just the opposite, that his ambition for our club leads to rash decisions (sackings of managers; overspending when it wasn't necessary on certain players) and that he needs to stem his ambition on occasion, step back and take in the bigger picture.

But then there'll always be your kind who would rather ignore all the good work and nit pick and whinge at every opportunity, regardless of how unjustified it is.

Jesus H Vishnu, you'd think that Levy had pissed in some posters cornflakes and run over their cats.

I tried to rep you but apparently I can't, I must love you too much already.


Well said.

 

[rebrab]

I tried to rep you but apparently I can't, I must love you too much already.


Well said.

Same. I also need to spread the love.

You're a legend BBLG

 

[SpurSince57]

Replacing 17 goals a season with the 3 at best that Benjani would get sure shows a chairman with ambition

And posts like this show someone who doesn't know shit from Shinola.

 

[Tottenham woody]

Hey, if you don't want to pay the ticket prices, don't. We don't need this kind of pessimism at the lane anyway. Until it stops me being able to afford bread and milk, I'll pay, regardless of how ripped off I am. So what if the money came from tickets, merchandise, or from the fact that we trebled our money on both Keane and Berbatov while we made over 700% profit on Carrick? The fact is that Levy has the say on whether or not funds are available, not you, not me, not uncle Bob, and Levy made those funds available. If you want a chairman who lacks ambition, the very last place you need to look is White Hart Lane. In fact, our chairman's flaw might be just the opposite, that his ambition for our club leads to rash decisions (sackings of managers; overspending when it wasn't necessary on certain players) and that he needs to stem his ambition on occasion, step back and take in the bigger picture.

But then there'll always be your kind who would rather ignore all the good work and nit pick and whinge at every opportunity, regardless of how unjustified it is.

Jesus H Vishnu, you'd think that Levy had pissed in some posters cornflakes and run over their cats.

Nice speech, you almost had me reaching for the tissues there for a second, but if I may I'd like to offer a different slant on a couple of your points.

1. you talk about being 'ripped off' does Levy really deserve applause for this? Spurs fans are a loyal bunch but that doesn't mean you should hike the ticket prices to such an extent that some of us pay over double what it would cost for a seat at Anfield. Oh and the if you don't like it don't go argument is really very helpful.

2. You talk of profit for Keane, Berba and Carrick and that's great.....if you're Joe Lewis that is, but if you're a Spurs supporter paying champions league ticket prices probably not so great seeing your players getting sold to the very big four that you're so despeate to break into.

3. I do believe Levy is an ambitous chairman but ultimately he's an employee of Enic and that is imo where his loyalties lie.

 

[BringBack_leGin]

Nice speech, you almost had me reaching for the tissues there for a second, but if I may I'd like to offer a different slant on a couple of your points.

1. you talk about being 'ripped off' does Levy really deserve applause for this? Spurs fans are a loyal bunch but that doesn't mean you should hike the ticket prices to such an extent that some of us pay over double what it would cost for a seat at Anfield. Oh and the if you don't like it don't go argument is really very helpful.

2. You talk of profit for Keane, Berba and Carrick and that's great.....if you're Joe Lewis that is, but if you're a Spurs supporter paying champions league ticket prices probably not so great seeing your players getting sold to the very big four that you're so despeate to break into.

3. I do believe Levy is an ambitous chairman but ultimately he's an employee of Enic and that is imo where his loyalties lie.

1) You brought up extortionate prices, not me. I have no issue with them, hence my statement that as long as I can afford it I'll go. As for saying if you don't like it don't go, that's not an argument, that's a suggestion.

2) Joe Lewis doesn't own us, he is majority shareholder of Enic, and Enic own us. They are seperate legal persons, and Tottenham Hotspur PLC is itself a seperate legal person. We couldn't really help the Berba and Keane sales, we named our price and unfortunately it was met, unlike Barry at Villa where Liverpool did not meet the price they set, and a year later he went for 2/3 of that price. Would you prefer we kept an unhappy Berba for a year and lost him for £20m? As for Carrick, all evidence suggests that we believed (wrongly) that we had a proven replacement in Zokora.

3) Levy is not an employee of Enic, he is a shareholder and director of Enic. Enic are the majority shareholder of Tottenham Hotspur PLC, and he is our Chairman. He is not an employee of anyone. Also, you say you believe he is ambitious, yet your original post on this topic was challenging my assertion towards Matt C after Matt had yet again called into question Levy's ambition. I'm not sure I understand your stance.

 

[SpurSince57]

Nice speech, you almost had me reaching for the tissues there for a second, but if I may I'd like to offer a different slant on a couple of your points.

1. you talk about being 'ripped off' does Levy really deserve applause for this? Spurs fans are a loyal bunch but that doesn't mean you should hike the ticket prices to such an extent that some of us pay over double what it would cost for a seat at Anfield. Oh and the if you don't like it don't go argument is really very helpful.

2. You talk of profit for Keane, Berba and Carrick and that's great.....if you're Joe Lewis that is, but if you're a Spurs supporter paying champions league ticket prices probably not so great seeing your players getting sold to the very big four that you're so despeate to break into.

3. I do believe Levy is an ambitous chairman but ultimately he's an employee of Enic and that is imo where his loyalties lie.

1. Yes, we do pay substantially more than Liverpool fans, but we're pretty much on a par with Arsenal, Chelsea and West Ham (I'd say the other big London clubs, but that would mean acknowledging the Spammers as a 'big' club). What does this suggest?

2. If the players want to go, there's not a lot you can do to stop them these days. Big fleas have bigger fleas… The best we can do is screw as much money as possible out of the deal, something Levy's done very well at. Finding adequate replacements has been the problem, but that's hardly Levy's fault.

3. He's done pretty well keeping both masters happy.

And if you think I'm uncritical of Levy, you should have been round two years ago.