Cain Hoy say 'No'.

[parklane1]

Spot on
Fernandez has that vacant "why didn't I listen" look, more and more these days.

That what happens when you give Redknapp a job.

 

[fedupyid]

How many owners of other teams put in their own money these days?
Roman, Sheik, Fernandez... anyone else?

It is not about Levy and co not putting money in it is the money they are draining out and hiding. Lewis teamed up with George Soros to bet on the pound crashing out of the European Exchange Rate Mechanism. The event, which was dubbed Black Wednesday, made Lewis very wealthy, and some say he made more than Soros. Lewis is still an active FX trade. These are the type of people who own Spurs and you wonder why Fans are frustrated. Lewis does not care about Spurs just like he did not care about his countries economy and who he hurt by doing what he did.

 

[Gb160]

It is not about Levy and co not putting money in it is the money they are draining out and hiding.

Do go on.....

 

[Mister Jez]

It is not about Levy and co not putting money in it is the money they are draining out and hiding. Lewis teamed up with George Soros to bet on the pound crashing out of the European Exchange Rate Mechanism. The event, which was dubbed Black Wednesday, made Lewis very wealthy, and some say he made more than Soros. Lewis is still an active FX trade. These are the type of people who own Spurs and you wonder why Fans are frustrated. Lewis does not care about Spurs just like he did not care about his countries economy and who he hurt by doing what he did.

I don't know where to begin with this one.........

 

[Lilbaz]

It is not about Levy and co not putting money in it is the money they are draining out and hiding. Lewis teamed up with George Soros to bet on the pound crashing out of the European Exchange Rate Mechanism. The event, which was dubbed Black Wednesday, made Lewis very wealthy, and some say he made more than Soros. Lewis is still an active FX trade. These are the type of people who own Spurs and you wonder why Fans are frustrated. Lewis does not care about Spurs just like he did not care about his countries economy and who he hurt by doing what he did.

What money are they draining out and hiding? If only there was a legally binding set of financial records that you could show to prove your statement?

http://www.tottenhamhotspur.com/upl...cuments/Annual_Reports/annual-report-2013.pdf

 

[RichieS]

He has a point, all this nonsense that we are suddenly going to compete with the top 4 once the stadium is built by signing top players are blinded by the fact it could stagnate us for 5 to 10 years, especially without CL monies, hence why we need serios investment either by ENIC and additional investment companies or a buyout.

But the current mood around here stems from the opinion that we are doing the stagnating now - presumably with a view to being able to capitalise on the larger stadium more quickly than Arsenal could. The biggest barrier to us signing 'top' players at the moment is our inability to pay much more than £100k p/w wages - that is the main thing that the extra income from the stadium will address. We can and have (recently) shelled out very large transfer fees but usually the sort of player that costs £25m+ comes with wage demands that we cannot currently afford.

 

[davidmatzdorf]

It is not about Levy and co not putting money in it is the money they are draining out and hiding. Lewis teamed up with George Soros to bet on the pound crashing out of the European Exchange Rate Mechanism. The event, which was dubbed Black Wednesday, made Lewis very wealthy, and some say he made more than Soros. Lewis is still an active FX trade. These are the type of people who own Spurs and you wonder why Fans are frustrated. Lewis does not care about Spurs just like he did not care about his countries economy and who he hurt by doing what he did.

It's dificult to reply to this mixture of fantasy and reality without picking it apart line by line, but I'll try.

1. There is no evidence that ENIC is 'draining out and hiding' money from Spurs. The last actual evidence we have either way on this aspect of your post was the £40m interest-free loan from Lewis to THFC, which rather suggests that your paranoid imagination is working overtime here.

2. There is plenty of evidence that ENIC in general and Lewis in particular are ruthless capitalist operators, but jumping from that evidence-based fact to the conclusion that 'Lewis does not care about Spurs' flies in the face of his and Levy's backgrounds and personal histories. They are both well-known lifetime Spurs supporters from the North London Jewish community. It's obvious that they care a great deal about Spurs, but I reckon that they care even more about making a profit.

 

[Kendall]

What money are they draining out and hiding? If only there was a legally binding set of financial records that you could show to prove your statement?

http://www.tottenhamhotspur.com/upl...cuments/Annual_Reports/annual-report-2013.pdf

mumble mumble mumble mumble tesco mumble mumble mumble enron mumble mumble

 

[davidmatzdorf]

Two weeks in and they've ducked out, I can't help wondering how much they really wanted to buy our club!
Oh well, as you were.

After watching this all pan out, I'm not convinced by this argument that Cain Hoy were never serious or were just in pursuit of free publicity. Initially, the whole thing was bigged out of all proportion by the press, which made it look like a PR stunt - or a fiction. So I reckoned it was a good plan to wait for some actual evidence before we all went bananas.

But once we saw the legally-required declarations from CH & ENIC, that was evidence there that CH were working hard on a potential bid. I think the reason they dropped out so quickly was bone-simple: they hammered away at their due diligence and rapidly worked out that ENIC genuinely didn't want to sell the club at all right now. Because THFC is privately-owned, there was no way for them to pressurise ENIC into selling, no way to lever ENIC into reducing their asking price and no scope for a 'hostile takeover'.

It was all way too much like an expensive battle that they would probably lose. So they cut their losses while they were still very small and walked away. That doesn't mean they weren't serious. It just means that they drew a sensible conclusion quickly and acted decisively, instead of being obstinate.

 

[Kendall]

It's dificult to reply to this mixture of fantasy and reality without picking it apart line by line, but I'll try.

1. There is no evidence that ENIC is 'draining out and hiding' money from Spurs. The last actual evidence we have either way on this aspect of your post was the £40m interest-free loan from Lewis to THFC, which rather suggests that your paranoid imagination is working overtime here.

2. There is plenty of evidence that ENIC in general and Lewis in particular are ruthless capitalist operators, but jumping from that evidence-based fact to the conclusion that 'Lewis does not care about Spurs' flies in the face of his and Levy's backgrounds and personal histories. They are both well-known lifetime Spurs supporters from the North London Jewish community. It's obvious that they care a great deal about Spurs, but I reckon that they care even more about making a profit.

I think they want Spurs to be a profitable entity, but not for personal gain. If turning a profit was more important, I doubt very much that Levy would be working full time at Tottenham.

 

[davidmatzdorf]

I think they want Spurs to be a profitable entity, but not for personal gain. If turning a profit was more important, I doubt very much that Levy would be working full time at Tottenham.

The 'personal gain' element is long term, as befits their business model. They want Spurs to be successful and financially healthy and they have dual motivations:

1. They are Spurs fans.

2. They intend eventually to sell the club for a huge capital gain, once their RoI looks to have reached its optimum level.

In which order of importance do those two motivations come? I'd have to be inside their heads to be sure, but I'm cynical enough about capitalists to think that no. 2 would trump no. 1 anytime.

 

[sloth]

Let's be clear here. CH were very serious. They are not messers in the slightest. Disturbingly heard over the weekend that Levy is even worse in practice than his own reputation suggests. They will not budge (at the moment) on an absurd price. Many suspected this but when you hear it from someone closer to the goings on it's a worry.

Up until and including the Harry days it is hard to trash ENIC compared to the Sugar days. But I am concerned that they are starting to hurt Spurs.

What is an 'absurd price'?

Look, I've got this classic car, it's worth about £10k, but i love working on it, and driving it, it's much more than a car to me... someone comes along and offers to buy it for £10.5k, now it's around market value that they're offering, but I'm not tempted in the slightest, they'd have to pay a really big premium to get me to part with it, besides which I've been looking at the classic car market and to be honest the trend is all one way, plus I happen to know there are a couple of things in the pipe-line which are going to make a huge difference to the market, ok the chassis needs some work, but I've already got the designs done... if I do that work, spend £6k or £7k on it, and the market goes the way I think it will, then I reckon within five years my car will be worth £20k+... which, btw, is why they're interested in buying it in the first place... no, for all of the above reasons, if they want to buy it now, they'll have to offer me way over the nominal market value that they have, and if they don't, fair enough, they can toddle off and buy themselves another car from someone who is keen to sell for that kind of money.

 

[Kendall]

The 'personal gain' element is long term, as befits their business model. They want Spurs to be successful and financially healthy and they have dual motivations:

1. They are Spurs fans.

2. They intend eventually to sell the club for a huge capital gain, once their RoI looks to have reached its optimum level.

In which order of importance do those two motivations come? I'd have to be inside their heads to be sure, but I'm cynical enough about capitalists to think that no. 2 would trump no. 1 anytime.

I don't disagree that they will only sell for big money which ultimately benefits them and the other beneficiaries of the Levy family discretionary trust, but if this was a profit-preference strategy, ENIC would have stayed in it's previous form and Levy wouldn't have a full time job.

 

[sloth]

It is not about Levy and co not putting money in it is the money they are draining out and hiding. Lewis teamed up with George Soros to bet on the pound crashing out of the European Exchange Rate Mechanism. The event, which was dubbed Black Wednesday, made Lewis very wealthy, and some say he made more than Soros. Lewis is still an active FX trade. These are the type of people who own Spurs and you wonder why Fans are frustrated. Lewis does not care about Spurs just like he did not care about his countries economy and who he hurt by doing what he did.

Fuck me, this is big mate, you need to get on to the FCA right away, that kind of evidence is enough to put away Levy, Lewis, our city accountants, the whole kit and caboodle... I don't expect you to reveal sources, but where did you find this out?

...oh... what's that you say? You didn't actually find it out? You just kind of made it up? Right I see, so you don't really like the fact that they own us, so you just sort of decided they must be guilty of major criminality with no evidence whatsoever because then it stands to reason you must be correct about them... right.....ok....

 

[Kendall]

Fuck me, this is big mate, you need to get on to the FCA right away, that kind of evidence is enough to put away Levy, Lewis, our city accountants, the whole kit and caboodle... I don't expect you to reveal sources, but where did you find this out?

...oh... what's that you say? You didn't actually find it out? You just kind of made it up? Right I see, so you don't really like the fact that they own us, so you just sort of decided they must be guilty of major criminality with no evidence whatsoever because then it stands to reason you must be correct about them... right.....ok....

I always thought Lewis made his money by selling shorts. A kind of highly successful Alphie Moon if you will.

lolhashtagfinancejoke

 

[chrissivad]

Let's be clear here. CH were very serious. They are not messers in the slightest. Disturbingly heard over the weekend that Levy is even worse in practice than his own reputation suggests. They will not budge (at the moment) on an absurd price. Many suspected this but when you hear it from someone closer to the goings on it's a worry.

Up until and including the Harry days it is hard to trash ENIC compared to the Sugar days. But I am concerned that they are starting to hurt Spurs.

Why is it a worry?

We heard Levy doesnt want to sell, so why would he lower his price that he would listen to?

 

[JerryGarcia]

Fuck me, this is big mate, you need to get on to the FCA right away, that kind of evidence is enough to put away Levy, Lewis, our city accountants, the whole kit and caboodle... I don't expect you to reveal sources, but where did you find this out?

...oh... what's that you say? You didn't actually find it out? You just kind of made it up? Right I see, so you don't really like the fact that they own us, so you just sort of decided they must be guilty of major criminality with no evidence whatsoever because then it stands to reason you must be correct about them... right.....ok....

Hey his mate Bloomgate said it was true so it must be right? With so much smoke there has to be a fire somewhere, I can't see one but it simply must be there.

 

[whitesocks]

What money are they draining out and hiding? If only there was a legally binding set of financial records that you could show to prove your statement?

http://www.tottenhamhotspur.com/upl...cuments/Annual_Reports/annual-report-2013.pdf

I wonder how Lehman bros annual accounts looked before they went splat? 1st rate I suspect.
Or amazon's/apple's/etc/etc accounts currently look - they're all on the breadline!
Such are the webs of offshore accounts, it has often been impossible to know who really owns many clubs, let alone who got what.

But I think it reasonable to think both Lewis and Levy have done very nicely out of spurs,
and would be more than happy with an another 10 years like the last.
If a big stadium sponsor doesn't turn up, well that's ok too, as the value of the land will grow nicely.

 

[parklane1]

I wonder how Lehman bros annual accounts looked before they went splat? 1st rate I suspect.
Or amazon's/apple's/etc/etc accounts currently look - they're all on the breadline!
Such are the webs of offshore accounts, it has often been impossible to know who really owns many clubs, let alone who got what.

But I think it reasonable to think both Lewis and Levy have done very nicely out of spurs,
and would be more than happy with an another 10 years like the last.
If a big stadium sponsor doesn't turn up, well that's ok too, as the value of the land will grow nicely.

You have a point but that is nothing like what fedupyidd said.

It is not about Levy and co not putting money in it is the money they are draining out and hiding.

 

[HW61]

Why is it a worry?

We heard Levy doesnt want to sell, so why would he lower his price that he would listen to?

The worry is purely my belief that Levy is beginning to damage the reputation of Spurs, not that he won't lower his price. It's a personal opinion that I dislike how he goes about the business of Spurs. Last season was comical and embarrassing. I've said it before, he has failed another manager he appoints as Poch is not playing the players we've just purchased. That's damning on Levy. Do we honestly believe Poch is satisfied with the investment over the summer? The stadium continues to cause utter confusion with constant miscommunication. We see the site next to the stadium being flattened, yet the club states it's taking advice on financing and looking for funding. I thought the delay in constructing the stadium was the compulsory purchase.... Clearly not. It's just an excuse.

Just my opinion.