ENIC...

[BoringOldFan]

Alasdair gold saying spending the £150m injection is in Enics best interest as that will increase the amount of shares they own. Therefor earn more money from a sale

and Ali goes on to say there is talk that ENIC may potentially choose to sell the club within the next year.

I would be surprised if Levy is looking to sell now. After 20 years he seems to be approaching the endgame of having a facility that can generate funds to support a successful football club. He’s had pelters for “20 years, one League Cup”, so why now, when he’s got the funds, the Football MD and manager in place, would he walk away and let someone else get the glory?

Add to that the appointment of the “Content Creation Machine” Todd Kline, who sees us as an “audience company” and has a myriad of ideas to generate revenue (more about Todd here https://www.sportspromedia.com/anal...-rights-nfts-spurs-play-todd-kline-interview/) and it just looks to me to be THFC finally getting to where we’ve all been waiting for it to arrive.

All that said, if the right offer comes in…

 

[dovahkiin]

kieran maguire on lwos talking enic cash injection, possible sale etc i think (i didnt listen to it yet)

 

[Derryank]

kieran maguire on lwos talking enic cash injection, possible sale etc i think (i didnt listen to it yet)

Cheers Dov.

(I don't know why, but Ricky Sacks does my head in. Nevertheless, he does decent guests)

Maguire though is absolutely superb on all financial matters in regards to football

 

[DogsOfWar]

I would be surprised if Levy is looking to sell now. After 20 years he seems to be approaching the endgame of having a facility that can generate funds to support a successful football club. He’s had pelters for “20 years, one League Cup”, so why now, when he’s got the funds, the Football MD and manager in place, would he walk away and let someone else get the glory?

Add to that the appointment of the “Content Creation Machine” Todd Kline, who sees us as an “audience company” and has a myriad of ideas to generate revenue (more about Todd here https://www.sportspromedia.com/anal...-rights-nfts-spurs-play-todd-kline-interview/) and it just looks to me to be THFC finally getting to where we’ve all been waiting for it to arrive.

All that said, if the right offer comes in…

This is my feeling as well.

We've only just started to see the benefits of the stadium income so the market value of the club won't include these.
We've not yet secured naming rights which would also increase the market value.
As you say, we've only just got to the position where we could win things which would increase commercial deals and prize money.

Unless someone is willing to pay way above market value, for example an American owner who was looking to bring an NFL franchise over, then I can't see it.

 

[carmeldevil]

I would be surprised if Levy is looking to sell now. After 20 years he seems to be approaching the endgame of having a facility that can generate funds to support a successful football club. He’s had pelters for “20 years, one League Cup”, so why now, when he’s got the funds, the Football MD and manager in place, would he walk away and let someone else get the glory?

Add to that the appointment of the “Content Creation Machine” Todd Kline, who sees us as an “audience company” and has a myriad of ideas to generate revenue (more about Todd here https://www.sportspromedia.com/anal...-rights-nfts-spurs-play-todd-kline-interview/) and it just looks to me to be THFC finally getting to where we’ve all been waiting for it to arrive.

All that said, if the right offer comes in…

Might not be Levy but Lewis looking to sell? I'm not 100% familiar with who can make these kind of decisions. But can Lewis sell his 70% share without the consent of Levy right?

 

[cusop]

one of the better podcasts

 

[Led's Zeppelin]

Might not be Levy but Lewis looking to sell? I'm not 100% familiar with who can make these kind of decisions. But can Lewis sell his 70% share without the consent of Levy right?

There‘s no viable situation in which a minority shareholder can prevent a majority shareholder from selling. Delay a bit perhaps, but not prevent.

 

[Spriggan]

Might not be Levy but Lewis looking to sell? I'm not 100% familiar with who can make these kind of decisions. But can Lewis sell his 70% share without the consent of Levy right?

As @Led's Zeppelin pointed out, no one can prevent Lewis from selling his shares, he owns circa 70% of ENIC and his position is inviolate which allows him to pretty much do as he pleases, with board approval of course.
It doesn't make sense for him to sell now, the project isn't finished yet so the valuation of ENIC hasn't reached it's full potential. Once the team is enjoying sustained success then not only will the profile of Tottenham Hotspur Football Club be raised to the heights we all hope for, but the Market Value of ENIC will rise with it. If anything I think Lewis will transfer his holdings to his daughter, and/or Levy, if he needs to, until the company he built has reached the potential he believes it can, and the market supports that belief.

 

[dovahkiin]

stole this from ftl for those that dont want to watch 1.5 hours of ricky sacks to hear what kieran maguire had to say:
-------------------

Football finance expert from the price of football pod was on last word on spurs last night.

He said "Spurs are not only the most profitable club since the premier league began but they are the most profitable by a big distance. Spurs have made over 400 million pounds of profit"

Gone from 30 to 40 million from matchday revenue at WHL to by the end of next season Spurs will be the biggest earners in English football from match day revenue. Estimated matchday income of 120 million next season.

He says that if the club hadn't been run the way it has over the last ten years the stadium would have been extremely difficult because the banks would have charged much more interest. Interest rate of approx 2-3% due to extremely secure finance. When the Glaziers took over United they had to pay 16% interest because the banks were so nervous.

He said he thinks the whole process has been leading up to a point where the club can compete properly for top players and then the success will follow...

He said for every 1 pound you make in the Europa league, you make 5 in the champions league.


"Daniel Levy deserves credit for the stadium, in particular for the financial package to build the stadium, the interest rate is very favourable. He has ran the club as a businessman first and foremost, it's been difficult to buy into that as a fan when you see Spurs are only spending 39p in every pound when other clubs are spending 60 to 70p on wages. However the profit made has not been paid in dividends to shareholders like other clubs, it has been invested in the club one way or the other even if not always in expensive players"

Spurs are still some way behind other clubs in terms of commercial operations, this is an area that the club needs to be improve on.

Arsenal are currently moving in a downward direction commercially and therefore on the pitch, they are the only club in the premier league who have a wage bill that has reduced over a three year period. They needed the champions league from a financial POV much more than Spurs. Spurs have now moved ahead of them in turnover.

He said there is two types of football investment, maintenance investment which is essentially replacing players you've sold and enhancement investment. Up to now ENIC have always only been interested in maintenance investment. The stadium and the 150 injection means now the club can for the first time look at proper enhancement investment.

He said if he was Levy or Lewis he wouldn't be selling Spurs in the next year. He did the sums and worked out Chelsea's value was a max of 1.5 billion. The fact it sold for 2.5 billion means that the value for someone like Spurs is anyone's guess at this point. He doesn't believe ENIC would make a 150 million investment now if the intent was to sell in the next year or so.

He believes that Levy and Lewis don't want to sell the club when we've won nothing. He thinks they want to see the club win things so when they do sell they have that legacy as well as the stadium.

The club will look to take advantage of European clubs who are skint by offering larger up front payments to sweeten the deals for clubs who need money.

The club have the most incentivised pay structure in the premier league.

Newcastle will be delayed by FFP, it's different to Chelsea and City because FFP is changing and they won't find an easy way around it. The premier league has made the rules tougher with regards commercial income. City have manipulated this but it will be much harder for Newcastle as every commercial deal will need to tested for value for money.

Financially the club are in the strongest place they have been this century. But the challenge is to grow commercially as well as on the pitch. The club is still not in the same league as United, Liverpool and Chelsea on a global scale.

 

[McArchibald]

Nuno - One year on (The Athletic)

What an incredible difference one year can make. From the shambles back then to where we are now. It's like scoring a Paul Robinson goal to win the league....

 

[davidmatzdorf]

Might not be Levy but Lewis looking to sell? I'm not 100% familiar with who can make these kind of decisions. But can Lewis sell his 70% share without the consent of Levy right?

Lewis owns 70% of ENIC, not 70% of THFC. I don't know if he could sell off his interest in ENIC, but that would not change ENIC's ownership of 90%+ (?) of THFC.

 

[Japhet]

Lewis owns 70% of ENIC, not 70% of THFC. I don't know if he could sell off his interest in ENIC, but that would not change ENIC's ownership of 90%+ (?) of THFC.

I think it's likely that Levy/Lewis would have plenty of clauses in place in the event that one wanted to sell up and the other didn't. They're both businessmen who know how to protect themselves.

 

[cusop]

Nuno - One year on (The Athletic)

What an incredible difference one year can make. From the shambles back then to where we are now. It's like scoring a Paul Robinson goal to win the league....

Pandemic is over and the stadium will generate cash , cash buys players, pays the mortgage

 

[Delboy75]

stole this from ftl for those that dont want to watch 1.5 hours of ricky sacks to hear what kieran maguire had to say:
-------------------

Football finance expert from the price of football pod was on last word on spurs last night.

He said "Spurs are not only the most profitable club since the premier league began but they are the most profitable by a big distance. Spurs have made over 400 million pounds of profit"

Gone from 30 to 40 million from matchday revenue at WHL to by the end of next season Spurs will be the biggest earners in English football from match day revenue. Estimated matchday income of 120 million next season.

He says that if the club hadn't been run the way it has over the last ten years the stadium would have been extremely difficult because the banks would have charged much more interest. Interest rate of approx 2-3% due to extremely secure finance. When the Glaziers took over United they had to pay 16% interest because the banks were so nervous.

He said he thinks the whole process has been leading up to a point where the club can compete properly for top players and then the success will follow...

He said for every 1 pound you make in the Europa league, you make 5 in the champions league.


"Daniel Levy deserves credit for the stadium, in particular for the financial package to build the stadium, the interest rate is very favourable. He has ran the club as a businessman first and foremost, it's been difficult to buy into that as a fan when you see Spurs are only spending 39p in every pound when other clubs are spending 60 to 70p on wages. However the profit made has not been paid in dividends to shareholders like other clubs, it has been invested in the club one way or the other even if not always in expensive players"

Spurs are still some way behind other clubs in terms of commercial operations, this is an area that the club needs to be improve on.

Arsenal are currently moving in a downward direction commercially and therefore on the pitch, they are the only club in the premier league who have a wage bill that has reduced over a three year period. They needed the champions league from a financial POV much more than Spurs. Spurs have now moved ahead of them in turnover.

He said there is two types of football investment, maintenance investment which is essentially replacing players you've sold and enhancement investment. Up to now ENIC have always only been interested in maintenance investment. The stadium and the 150 injection means now the club can for the first time look at proper enhancement investment.

He said if he was Levy or Lewis he wouldn't be selling Spurs in the next year. He did the sums and worked out Chelsea's value was a max of 1.5 billion. The fact it sold for 2.5 billion means that the value for someone like Spurs is anyone's guess at this point. He doesn't believe ENIC would make a 150 million investment now if the intent was to sell in the next year or so.

He believes that Levy and Lewis don't want to sell the club when we've won nothing. He thinks they want to see the club win things so when they do sell they have that legacy as well as the stadium.

The club will look to take advantage of European clubs who are skint by offering larger up front payments to sweeten the deals for clubs who need money.

The club have the most incentivised pay structure in the premier league.

Newcastle will be delayed by FFP, it's different to Chelsea and City because FFP is changing and they won't find an easy way around it. The premier league has made the rules tougher with regards commercial income. City have manipulated this but it will be much harder for Newcastle as every commercial deal will need to tested for value for money.

Financially the club are in the strongest place they have been this century. But the challenge is to grow commercially as well as on the pitch. The club is still not in the same league as United, Liverpool and Chelsea on a global scale.

You say grow commercially and I know what you mean but really that only happens by winning stuff in terms of getting on par with likes of Liverpool United etc. however all the stadium extra revenue will go into commercial and will in pure numbers terms make up a big difference. You can say that’s cheating but really it isn’t it’s a commercial asset we have that others don’t.

 

[DogsOfWar]

You say grow commercially and I know what you mean but really that only happens by winning stuff in terms of getting on par with likes of Liverpool United etc. however all the stadium extra revenue will go into commercial and will in pure numbers terms make up a big difference. You can say that’s cheating but really it isn’t it’s a commercial asset we have that others don’t.

All stadiums host gigs/corporate meetings/weddings/parties/end of season pitch rental for corporate football etc.
Ours has just been optimised for this kind of thing so that it can make money 24/7 rather than just at weekends or the end of of the season.

 

[Delboy75]

All stadiums host gigs/corporate meetings/weddings/parties/end of season pitch rental for corporate football etc.
Ours has just been optimised for this kind of thing so that it can make money 24/7 rather than just at weekends or the end of of the season.

Sorry but there’s no comparison at all. Other clubs might do a couple of concerts a year. We will be doing 16 events. It’s a different ball park to compare to any other club in this country and majority of Europe. Real Madrid are literally copying our set up. Even on a 1 off concert we probably earn double anyone else as our hospitality is so superior.

 

[DogsOfWar]

Sorry but there’s no comparison at all. Other clubs might do a couple of concerts a year. We will be doing 16 events. It’s a different ball park to compare to any other club in this country and majority of Europe. Real Madrid are literally copying our set up. Even on a 1 off concert we probably earn double anyone else as our hospitality is so superior.

You said 'You can say that’s cheating but really it isn’t it’s a commercial asset we have that others don’t'.

That statement is incorrect, every other football team has a stadium/facilities that is used regularly for non-football events.
Our stadium is just better at it so it's not 'cheating', it's just optimising the same commercial opportunities as every other team has.

 

[BoringOldFan]

Might not be Levy but Lewis looking to sell? I'm not 100% familiar with who can make these kind of decisions. But can Lewis sell his 70% share without the consent of Levy right?

The intentions of the enigmatic coffin-dodger that is Joe Lewis have never been exactly clear. He owns Tavistock Group, which is a holding company with over 200 separate interests, one of which is THFC: https://www.tavistock.com/portfolio/

Stretching as it does across real estate, finance, biotech, hospitality, energy, agriculture, technology, how much attention Joe pays to l’il ol’ Spurs is debatable. I have read that his daughter Vivienne, who is on the board of Tavistock, is very interested in us though.

it is ENIC that owns THFC, so although Lewis could sell his share in that, as he has left the running of the football club to Levy, I reckon it’s unlikely he would act other than in unison with our chairman.

 

[14/04/91]

I wouldn't rule out a sale if we have a great season. Levy et al know just how quickly things can change from a purely footballing perspective; think back to June 2019 we had a brand new stadium, CL final, top coach, young squad then it all fell apart within months. I just don't see them taking that risk again - as soon as our value is at it's highest, they must be tempted.

Income from concerts, rugby, NFL etc will be easily measured and factored in but the kicker will be how much the football club is worth.

 

[dontcallme]

I wouldn't rule out a sale if we have a great season. Levy et al know just how quickly things can change from a purely footballing perspective; think back to June 2019 we had a brand new stadium, CL final, top coach, young squad then it all fell apart within months. I just don't see them taking that risk again - as soon as our value is at it's highest, they must be tempted.

Income from concerts, rugby, NFL etc will be easily measured and factored in but the kicker will be how much the football club is worth.

It’s possible but it’s my belief that they see this as a long-term investment.

We are now in a position to make consistently high turnovers and can’t see them selling now.

Potential buyers would likely look to cheaper options.