Cain Hoy say 'No'.

[vonn]

Doesn't mention anyone to do with Cain Hoy there....

There is a piece in the Sunday Times today. Behind a paywall but you can read the first few paragraphs.

http://www.thesundaytimes.co.uk/sto/business/Companies/article1458810.ece

 

[Lilbaz]

There is a piece in the Sunday Times today. Behind a paywall but you can read the first few paragraphs.

http://www.thesundaytimes.co.uk/sto/business/Companies/article1458810.ece

Bastards.

 

[Dirty Ewok]

Sorry, either I've misunderstood you, or you've got it wrong. Basically, the sale price will always take into account future revenue, including projected growth. I'm not sure there is such a thing as market value in a complex deal like this, each company is different, the circumstances of the sale are always different, the ambition of the purchaser too, and the sales themselves are few and far between; the best you could hope for is some kind of vague benchmarking. Basically, any purchaser will have to work out our value using whatever metrics he believes to be important, and once calculated that value will probably only be applicable to him.

I probably explained my point poorly and rather simply but in effect that is what i was hoping to convey in part.

These aren't the types of things that are simply explained though, at least not by myself.

In these cases i would say that "market value" is really something used more by the media than anything else. Cain Hoy (as you said) will have a huge amount of information that they have gone through and come up with a valuation, ENIC will have their valuation. Say that value is £500m, that number really means nothing to anyone else other than ENIC and Cain Hoy (and all of us of course) however the media will paint it as a bid that is "over market value" because of numerous reasons not the least of which would be that some of the other clubs that have been sold were at lower figures and those other sales set "the market value" (whether it is a real number or not) of a PL club.

Edit because i am a muppet:

I forgot to mention when i said that CH see a price of £700m now they may see a price of £1.2B later is really tied to how they calculate their valuation. When they calculate the value (using whatever dark arts they use) they will look at it and say something along the lines of "we think ENIC are likely to value Spurs at X however we believe it should be valued at Y based on our figures and if the club is put on the market in the next "X" amount of years it would likely be sold in a price range of Z"

 

[JerryGarcia]

Do we know what the land we've aquired for the new stadium would be worth if it was sold off in one lump? Or in general how much all of the land we own in London is worth?

 

[THFCSPURS19]

There is a piece in the Sunday Times today. Behind a paywall but you can read the first few paragraphs.

http://www.thesundaytimes.co.uk/sto/business/Companies/article1458810.ece

Bastards.

I subscribe to the Times but after the first few paragraphs there's nothing there we don't know already know.

 

[THFCSPURS19]

Here's something from Stobart on the situation:

http://www.goal.com/en/news/9/engla...tottenham-doubt-cain-hoy-takeover-credentials

 

[Lilbaz]

Here's something from Stobart on the situation:

http://www.goal.com/en/news/9/engla...tottenham-doubt-cain-hoy-takeover-credentials

Not sure why it would be a publicity stunt. Cain Hoy may only have started on Thursday but the men involved are very high profile. They're not trying to get Joe Publics attention as very few of us will need their services. The one's that are rich enough to use them will already know them and wont invest because they may make a bid for a football club.

 

[weststandvoice]

Do we know what the land we've aquired for the new stadium would be worth if it was sold off in one lump? Or in general how much all of the land we own in London is worth?

£87.50p

 

[Dirty Ewok]

£87.50p

Well i am still short.....can someone spot me £67.83?

 

[Lilbaz]

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

The land value is in there. (sorry can't be arsed reading through it again, it's 40 odd pages).

 

[JerryGarcia]

£87.50p

I have to be honest, that's less than I thought.

 

[DFF]

I wouldn't be drawing conclusions from their investment in the LA Dodgers at all. Sports ownership in America's major sports leagues, especially teams in a major market like LA, is a license to print money. You can be the worst team in the league and still make money hand over fist. Which is why on the rare occasion a team comes up for sale, the bidding gets crazy (see LA Clippers who sold for $2B, and they don't even have their own stadium). With the protection racket style leagues and sky high TV money, it is nigh on impossible to lose in the long run.

None of this is true in the Premier League, or football in general. You can and will be allowed to fail. You will not get $7B TV deals like the LA Dodgers. You cannot throw millions into a team and have a reasonable expectation of making it back. If I had billions to invest in a sports team and wanted a ROI, football is one of the last places I'd look.

That is not to say I don't think they would be good for us, just tempering expectation with the comparisons I've seen with the LA Dodgers.

 

[DFF]

P.S. The Real Estate angle, with regards to Cain Hoy, makes a lot more sense to me.

 

[Lilbaz]

I wouldn't be drawing conclusions from their investment in the LA Dodgers at all. Sports ownership in America's major sports leagues, especially teams in a major market like LA, is a license to print money. You can be the worst team in the league and still make money hand over fist. Which is why on the rare occasion a team comes up for sale, the bidding gets crazy (see LA Clippers who sold for $2B, and they don't even have their own stadium). With the protection racket style leagues and sky high TV money, it is nigh on impossible to lose in the long run.

None of this is true in the Premier League, or football in general. You can and will be allowed to fail. You will not get $7B TV deals like the LA Dodgers. You cannot throw millions into a team and have a reasonable expectation of making it back. If I had billions to invest in a sports team and wanted a ROI, football is one of the last places I'd look.

That is not to say I don't think they would be good for us, just tempering expectation with the comparisons I've seen with the LA Dodgers.

There was a great interview with Henry when he bought Liverpool. Basically saying that the Premier League has massive room for growth and that more people in the world watch Man Utd than the Superbowl. With the wealth in countries like China growing and popularity growing in America (viewing figures up 70% last year). The potential is phenominal. This will be their thinking I'm guessing.

 

[Dirty Ewok]

Here's something from Stobart on the situation:

http://www.goal.com/en/news/9/engla...tottenham-doubt-cain-hoy-takeover-credentials

This i think is the question that everyone has....

White Hart Lane insiders are questioning why sensible investors would consider making an offer for the club while issues over the construction of the proposed new stadium are yet to be resolved.

I wouldn't imagine this to be a publicity stunt as none of these guys have announced they are leaving Guggenheim. If Boehly and Silverman decided to break off and start their own firm they wouldn't need to announce it by putting in a fake bid on a football club.

If Boehly and Silverman started their own firm it would be a piece of news that would show up and be discussed at length by places like Bloomberg, WSJ and other market watch sites. That would be all the publicity those guys would need to pull in investors. Hell they may not even need to say they were starting a firm just that they were stepping down "to pursue other activities" and people would pay attention.

 

[Dirty Ewok]

I subscribe to the Times but after the first few paragraphs there's nothing there we don't know already know.

So was it Cain Hoy who were doing the development or was it Guggenheim?....Goldstein is the real estate/european investment specialist for Guggenheim so it would make sense that he would be involved in a major investment like that. But curious as to if it is done by Guggenheim or CH.

 

[Bus-Conductor]

What about Hoddle? What about giving him 11 million to spend and sacking him after 6 games, then installing David Pleat who was DOF, giving him 7 million to spend for Defoe and then getting rid of him at the end of the season as well. What about him taking all that time to pick a new coach and still getting it wrong.
What about Ramos, Comoli, Redknapp, Sherwood? What about the constant persuit of Damiao in at least 3 transfer windows?

Do you want me to comment on all the above because I will if you want, but my views on all of those issues have been aired plenty. I don't agree with all of the appointments (sometimes the timing therein) or sackings, but understand the chairman's (of a football club in our position) logic in most. I'm not sure what your position is on all those issues, are you saying appointing all of those was wrong, or sacking them was wrong or both ?

For example, are you saying the replacing of Jol after 3 1/2 years of proving he was limited to getting a 5th best squad to 5th, not getting close to a trophy for a manager who's won European and domestic trophies in a comparable league whilst managing a DOF budgeted club was flawed logic ?

Because I don't.

None of us have a clue what the Damiao saga was about do we ?

 

[Lilbaz]

Do you want me to comment on all the above because I will if you want, but my views on all of those issues have been aired plenty. I don't agree with all of the appointments (sometimes the timing therein) or sackings, but understand the chairman's (of a football club in our position) logic in most. I'm not sure what your position is on all those issues, are you saying appointing all of those was wrong, or sacking them was wrong or both ?

For example, are you saying the replacing of Jol after 3 1/2 years of proving he was limited to getting a 5th best squad to 5th, not getting close to a trophy for a manager who's won European and domestic trophies in a comparable league whilst managing a DOF budgeted club was flawed logic ?

Because I don't.

None of us have a clue what the Damiao saga was about do we ?

BC Mullers has politely agreed not to discuss Levy in this thread (unless we hear some news regarding him).

 

[gibbospurs]

WTF?? Mind blown.

90%? based on what evidence?

What chairman in the premiership has currently performed better than Levy on similar resources?

Kenwright at Everton

 

[Lilbaz]

If you want to discuss the pros/cons of Levy. There's a thread here, it will keep from bogging this one down.

http://www.spurscommunity.co.uk/index.php?threads/is-daniel-levy-holding-tottenham-back.99342/