ENIC...

[thebenjamin]

I agree. We appear to be a solid long term investment. Our turnover is large and likely to continue for a long time to come.

Seems silly to sell now for a quick profit rather than long term earnings.

The fact that they've valued the club at £8bn with this share issue tells you the type of money they're looking to make.

 

[CoopsieDeadpool]

 

[Delboy75]

I think high road west will make a difference to the valuation. Once that’s done the immediate area around the stadium will be generally ok. Goes back to the Abramovich story of first time he saw Tottenham. The fact you will come out the station into what wil feel a very safe area with cafes restaurants etc and walk straight through to the stadium. I’d guess will help massively with attracting non football events. Will change the whole feel of the stadium.

 

[shelfboy68]

I think high road west will make a difference to the valuation. Once that’s done the immediate area around the stadium will be generally ok. Goes back to the Abramovich story of first time he saw Tottenham. The fact you will come out the station into what wil feel a very safe area with cafes restaurants etc and walk straight through to the stadium. I’d guess will help massively with attracting non football events. Will change the whole feel of the stadium.

Tottenham high road is not a safe area when you walk down it from the station most of the phone boxes have people jacking up in them.
The stadium is the jewel in a crime ridden shit hole and I know because I came from there originally.

 

[The Scarecrow]

My guess would be not. 150m to buy players and then pay their wages out of it wouldn't get you very far.

And it would be highly unsustainable and require future cash injections.

 

[dirtyh]

never gets old

 

[arthurgrimsdell]

That reminds me of Steffen Freund v Roy Keane.

 

[brasil_spur]

Pochettino did wonders as the manager but wanted control over the player aquisitions, when we finally agreed to this we ended up buying Ndombele and Lo Celso, two of the worst signings in our history considering the money spent.

Getting the balance right is very hard, but in Conte we have finally found a manager who can be trusted to not only improve the players he has but also oversee, along with Paratici, some really good player purchases.

Even if Conte walks out in 6 months, no one can argue that players like Kulusevski, Bentancur and Romero aren't going to be worth much more than what we paid for them.

Unlike City or Chelsea, we can't afford to make big mistakes in the transfer market, but equally we can't afford not to back this manager, because he is really a once in a lifetime opportunity. I would say investing now is the easiest decision Enic will ever have to make.

Very harsh on Lo Celso. If we make our money (or most of it) back by selling a player that hasn't worked out for us then I don't consider it as one of the worst in our history.

 

[BoringOldFan]

Watching Alasdair Gold’s last two videos, he put a bit more context around the £150m. It is both a clever move financially and PR wise. The PR part is that although it had to be announced, quite as big a splash as they made of it in the OS was not required. But it looks good after two decades of parsimony and criticism of Levy & Lewis.

The clever bit financially is that if/when ENIC sells THFC, the value of their increased shareholding that they get from this investment is expected to be worth far more than £150m. Possibly even double. And we thought they were doing it out of the goodness of their hearts ?

Gold said that ENIC got a loan to make this investment, but that stays with ENIC and no debt or interest payments will be loaded onto the club. It is theirs to pay off. Although as the major revenue source for ENIC is THFC, I’ll have to wait until some accounts are published to see how that works.

So confident are the club that Conte will now stay, Levy has decided not to fly to Italy for the meeting. Instead, it will by just Paratici and Conte, who will discuss targets. The bulk of the investment will go on players, and will be supplemented by any revenue from sales as well.

The signings will be a mix of free transfers (obvs), big signings and final year contract players. The view is that 6-8 players are needed to compete in both the CL and PL. The club has told Conte they will go for his first choices, not bottle out and go for a compromise. For his part, Conte has told the club that he wants the new players in time to take them on the pre-season Asia tour.

We’ll see.

if you’ve read through all that, I’ve just saved you from watching two hours of Gold videos. You’re welcome ?.

 

[BoringOldFan]

Revenue from player sales will also be made available to Conte. THFC has had a good year, with 4th place getting us £37.4 million PL prize money, and if we get a few results in our CL group, another £20 million awaits.

You can always rely on Daniel Levy to do the right thing. After he has tried every possible alternative ?

 

[Insomnia]

WAR CHEST

 

[shelfsidespur]

What a week !
Now is our winter of discontent made glorious summer !
Paratici and Conte achieved their targets and ENIC has put in the funds to give them opportunity to take us forward.

It has taken us much, much longer than we all hoped for but it seems our club is now in a position to firmly establish itself as one of the Elite. There will be issues that arise in the future but we should now be strong enough to deal with them.
ENIC have always aimed to create a financial structure that would enable the Club to be self sustainable and it would seem that we are approaching that point.
As to the future, many on the forum believe that Lewis and Levy are driven purely by the prospect of financial gain and that they will be looking to sell once we are fully up and running. Both these individuals have far more money than most of of us could dream of and within reason can acquire almost anything they want already -they certainly don't need to sell. My belief and understanding is that Levy has spent a large portion of his life developing a cherished project that is now coming to fruition. Given the criticism he has endured he could easily have sold out years ago and still taken a profit but has continued to this point. Imo he would only sell to a party that could take the club further than he can.
Pre-season this year will be exciting and I can"t wait for the season proper.
COYS

 

[chas vs dave]

This season feels a bit like a sliding doors moment.

There is momentum. Let's hope we capitalise on it.

 

[Raitei]

I'm not sure I understand the idea that selling Spurs will make that extra percentage worth even more. Currently they invested 150m at a 7.5b valuation. Spurs would have to sell at a much higher value than that to see an appreciable increase in their investment.

Given Chelsea at ~3-4b was the largest ever Sport team sale, I can't imagine we're going to more than double that any time soon

 

[Japhet]

The $150m addition has to be spent this year

Won't be a problem. Use it up on signings, agent fees, wages etc whilst keeping other funds dry. It's equivalent to a big Summer spend for us which is exactly what we've been told we're doing. Happy days.

 

[arthurgrimsdell]

My interpretation of the events surrounding the £150 million funds injection, for what it’s worth, is as follows:

As had been pointed out elsewhere, Alasdair Gold has claimed in his latest podcast that he has heard that, unsurprisingly, ENIC have not provided funds out of their internally generated wealth, but have borrowed in order to provide themselves with the wherewithal to buy new share capital from Tottenham Hotspur Ltd. This should not be surprising. They are highly astute businessmen, not kindly uncles giving out presents. The idea that they would “put their hands in their pockets” to provide this was always in my view wishful thinking as was the idea that it would become a regular occurrence. Their strategy has always been for the new stadium to be a wealth generating engine to take the football side to the next level.

However, as we all know the Club, and more to the point, ENIC have had to deal over the last few years with a once in a lifetime disaster: the Government’s reaction to Covid. This could not have come at a worse time, as the wealth creation capabilities of the new stadium were more than decimated; they were to all intents and purposes completely stopped between 2020 and 2021. This meant that the stadium generating large amounts of income to take the club to the next level just did not happen. Instead, large extra losses were incurred, which took the club to the brink of disaster. This time last year Tottenham had just incurred a £150 million loss with no certainty as to the stadium being completely full for the foreseeable future and little chance of using it for non-football income generation. This was confirmed in stark fashion by Daniel Levy in his end of season review and was already quite well known, which led, as most will remember, to the vultures circling thinking that Harry Kane would have to be sold for a knock-down price to keep the club in business.

Then the clouds began to lift. Covid restrictions were rapidly lifted last summer. This meant that ENIC were able to masterfully re-negotiate debt funding at low interest rates with long term repayment options to replace the short-term emergency funding they had been given from the Government and elsewhere. It is my suspicion that funding for the £150 million new share capital just announced was part of the negotiations last summer and was contingent on the economic outlook getting back to some sort of normality over the following year. I know that the original funding re-negotiating was for the Club rather than ENIC, but I suspect that it was argued that if the extra £150 million was to be provided to ENIC at some time in a year or so, contingent on it being used for new shares in the club owned by ENIC, and that ENIC’s new shares in the club would have a charge on them to reduce the lenders’ risk, then this would have provided more stability for all the funding and help to get the club back to where it should have been if the Covid disaster had not occurred. If Covid had not happened, the club would not have had £150 million losses, they would have had around £150 million profits, and none of this extra funding would have been necessary.

All this, in my mind, would help to explain why Antonio Conte seemed likely to join the club last summer and the talks suddenly failed. My suspicion is that Conte thought either that the extra funds would be available immediately or that he could force the issue to get them early. So, when he found out that this would not be the case he decided to wait until it was, or another opportunity arose. When he was finally appointed, there was only one mid-season transfer window to negotiate before the funds would be available.

It would also explain why ITK’s such as Trix were so confident at least six months ago that £150 million would be available this summer: They had heard from their sources that the money would definitely be available, though possibly not how.

We now have the club in a financial position which is similar to what it would have been at this stage if the Covid regulations had not been imposed. Once in-a-lifetime problems have been solved by once-in-a-lifetime actions.

However, as we know, or strongly suspect, that ENIC have borrowed the funds for the new shares, if the interest rate for the borrowings is around the same rate as the rest of the re-funding, it will be about 3% pa, which comes to about £4.5 million pa which ENIC would have to pay. So don’t be surprised if the Club gives vast salary increases to those ENIC personnel on the Board, or more likely, the Club starts paying annual dividends to shareholders for the first time since the Sugar years.

Now I may have got my facts wrong, or my logic may be awry. If that is the case, I don’t doubt I will be informed!

 

[Tiberius Gracchus]

Tottenham high road is not a safe area when you walk down it from the station most of the phone boxes have people jacking up in them.
The stadium is the jewel in a crime ridden shit hole and I know because I came from there originally.

Your experience is clearly different from mine but I've been a season ticket holder for several years, walk up from Seven Sisters, and have never seen anyone 'jacking up'. Just a load of stoners smoking weed and a lot of drunks

 

[brasil_spur]

This season feels a bit like a sliding doors moment.

There is momentum. Let's hope we capitalise on it.

As long as it doesn't involve Gwyneth Paltrow and her minge candles

 

[jurgen11]

Your experience is clearly different from mine but I've been a season ticket holder for several years, walk up from Seven Sisters, and have never seen anyone 'jacking up'. Just a load of stoners smoking weed and a lot of drunks

Dont talk about the West Stand like that !

 

[shelfboy68]

Your experience is clearly different from mine but I've been a season ticket holder for several years, walk up from Seven Sisters, and have never seen anyone 'jacking up'. Just a load of stoners smoking weed and a lot of drunks

You must take the posh route ?