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Financial Results y/e June 2017

RichieS

Well-Known Member
Dec 23, 2004
11,916
16,436
Looking at that very superficially (and hoping that someone more knowledgeable will be able to confirm or deny) What, to me at first look, seems interesting is that (with a net cash balance,) we had already paid £315m towards the stadium cost... With a projected cost of £800m (including surrounding development,) presuming we have been able to pay off an equivalent £200m (ish) over this year, this would leave only about £300m to finance... Could the whole development be paid off a lot quicker than anyone appears to realise?
A long time ago there was a lot of discussion about how we might find ourselves in a much better position than the Arse did in terms of stadium related debt. Part of this was due to the amount of time it took to assemble all the land we needed - by the time the stadium project itself started we'd already spent in excess of £100m on property and the construction of Sainsbury's/Lilywhite House, plus all the administrative costs that go with such a project - the cost of which is included in the headline £800m. There has also been talk that Levy is looking for a £300m (£15m x 20 years) naming rights deal and is willing to wait a while to get it - ties in nicely with your £300m.
 

Dinghy

Well-Known Member
Jun 22, 2005
6,326
15,561
But I’d imagine that £315m includes loans and isn’t all our money. But I might be wrong.
That may be true. But the club is sitting on a net cash amount. If all debt was paid off and all credit called in the club would have a positive cash balance. So whilst the club may have spent borrowed money they have the money available to pay that debt off.
It's kind of like spending month to month on your credit card even if you have money in the bank... (Very broad-strokes analogy)
 

St José Dominguez

Well-Known Member
Jul 15, 2014
3,592
11,648
From that I think the predictions of the next financials being circa 400m and the following being 400m+ seems correct. Insane growth almost on a par to myself after Dele's second goal.
For us as well as the upcoming huge match day revenue increases these latest show how vital CL is for us.
City, Utd, Madrid etc get to eat first but we've definitely got a seat at the table now, hope we don't just eat bread and skip dinner.
 

spursfan77

Well-Known Member
Aug 13, 2005
46,679
104,956
This is promising, especially as others have said this year will also improve considerably. Clear scope for another raft of contract updates and making the wages more on par with the big boys, and better than anyone in Europe aside from Madrid, Barca, PSG and Bayern. Time to dust off the Poch cardboard cut out!

Ties in nicely with the Telegraph article saying new deals for Poch (very competitive £8.5m a year!), Kane, Eriksen, Lloris, Vertonghen, Dele and Son. Fingers crossed it happens!

yeah I didn't put that two and two together. Pretty obvious timing when you think about it!
 

whitesocks

The past means nothing. This is a message for life
Jan 16, 2014
4,652
5,738
That may be true. But the club is sitting on a net cash amount. If all debt was paid off and all credit called in the club would have a positive cash balance. So whilst the club may have spent borrowed money they have the money available to pay that debt off.
It's kind of like spending month to month on your credit card even if you have money in the bank... (Very broad-strokes analogy)
Something is odd here - so without the new stadium expenditure, we'd be sitting on a £300m+ profit? We could give the first 11 each a £500,000 p/w pay increase, and still be in profit.
 

Dinghy

Well-Known Member
Jun 22, 2005
6,326
15,561
Something is odd here - so without the new stadium expenditure, we'd be sitting on a £300m+ profit? We could give the first 11 each a £500,000 p/w pay increase, and still be in profit.
Don't really know... Was hoping that someone that had looked at them more closely might have been able to confirm my gut feeling/ballpark number juggling!
 

SpartanSpur

Well-Known Member
Jan 27, 2011
12,552
43,063
Something is odd here - so without the new stadium expenditure, we'd be sitting on a £300m+ profit? We could give the first 11 each a £500,000 p/w pay increase, and still be in profit.

The expenditure on the stadium would not be involved in the profit calculation, it is capital expenditure. Cash turned into an asset (Stadium), although in reality a large amount of that expenditure is probably from funds raised from loans.
 

TottenhamLegend

Well-Known Member
Jun 13, 2012
3,273
9,439
Something is odd here - so without the new stadium expenditure, we'd be sitting on a £300m+ profit? We could give the first 11 each a £500,000 p/w pay increase, and still be in profit.
Not quite, no. All costs associated with the stadium will be spread across the useful life of the stadium (in accounting terms that may be set as 99 years or something similar). So the £800m cost (let's go with that figure as an example) will be spread over 99 accounting periods, meaning only £8.1m or so hits the accounts each year as a cost.

That's a very simplistic way of looking at it, but hopefully explains your confusion.
 

Wellspurs

Well-Known Member
Mar 9, 2006
6,379
7,734
Looking at that very superficially (and hoping that someone more knowledgeable will be able to confirm or deny) What, to me at first look, seems interesting is that (with a net cash balance,) we had already paid £315m towards the stadium cost... With a projected cost of £800m (including surrounding development,) presuming we have been able to pay off an equivalent £200m (ish) over this year, this would leave only about £300m to finance... Could the whole development be paid off a lot quicker than anyone appears to realise?

Let's sell Dele and Kane to clear the debt!




Only joking before doh ratings start coming in.
 

whitesocks

The past means nothing. This is a message for life
Jan 16, 2014
4,652
5,738
The expenditure on the stadium would not be involved in the profit calculation, it is capital expenditure. Cash turned into an asset (Stadium), although in reality a large amount of that expenditure is probably from funds raised from loans.

Not quite, no. All costs associated with the stadium will be spread across the useful life of the stadium (in accounting terms that may be set as 99 years or something similar). So the £800m cost (let's go with that figure as an example) will be spread over 99 accounting periods, meaning only £8.1m or so hits the accounts each year as a cost.

That's a very simplistic way of looking at it, but hopefully explains your confusion.
Thanks you - that makes sense - we were meant to have a construction loan of about that amount, although I doubt we'd spent it all in the last financial period.
Presumably we have a much bigger loan now.
 

Westmorlandspur

Well-Known Member
Feb 1, 2013
2,682
4,497
Was there a definite figure on the amount we paid to rent Wembley . I saw 17m before the season started but recent reports said 11m. Anyone know for definite.
 

coys200

Well-Known Member
May 22, 2017
8,436
17,403
Was there a definite figure on the amount we paid to rent Wembley . I saw 17m before the season started but recent reports said 11m. Anyone know for definite.

I saw £22m ? . Whatever gate receipts will be huge in next accounts. 68 k average gate plus 4 bumper CL games.
 

TH1239

Well-Known Member
Jan 28, 2011
3,691
8,964
None of this is a surprise. The figure that stands out is the 126 million pound wage bill. It's an increase from the previous year, but not commensurate with the growth in revenue. We currently stand at 41% wage-to-turnover, which is much lower than what we were operating at in the earlier part of the decade. With the new stadium revenue, coupled with increased sponsorship deals, there's going to be significant pressure to increase the wage bill to keep players content.
 

Gaz_Gammon

Well-Known Member
Apr 16, 2005
16,047
18,013
Wow 300m before Wembley. So easily past 400 in new stadium, and meaning our wage bill can go up to 200m and still run at 50-55% of turnover. Making us genuinely competitive.

Don't we have a new stadium to pay for?

Just asking like.
 

BujuBanton

Well-Known Member
Aug 31, 2012
277
2,117
@SwissRamble #THFC highest paid director, almost certainly Daniel Levy, received total remuneration of £6.0m in 2016/17 (up from £2.8m the previous season)
 

RichieS

Well-Known Member
Dec 23, 2004
11,916
16,436
@SwissRamble #THFC highest paid director, almost certainly Daniel Levy, received total remuneration of £6.0m in 2016/17 (up from £2.8m the previous season)
It's hard to argue against him being handsomely paid.
 
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