Levy plans to stay long term but must consider takeover bids

[hellava_tough]

Yep - I referred to the past. What else can I refer to? And please know that I'm not just resting on the idea that 2018 is better than 2001, I'm looking at the recent past as well.

I never said that anti-ENIC comments relate solely to this summer... I said "This again feels like ignoring what has been done by the owners (even quite recently) because we didn't sign a player this summer. " in direct response to your comments about no sporting ambition and signing young players. It means that things like the Kane/Son/Lamela contracts and things like the Sanchez/Aurier signings often get ignored when talking about ENIC's sporting ambitions or ability to spend big on young players.

I had written a full post here talking about the young players we've bought, the average age of our best XI, the recent contract spending and how it's understandable that this last summer is pushing an opinion bias (which you even hint at in your own reply). But then I gave up because it seems clear that your mind is made up no matter what I might write here. I think the same goes for many.

It's a real shame honestly. There are lots of things I think we agree on and would be interesting to talk about. The idea of increasing our risk in terms of player transfers is such a cool topic once you get out of the clouds and try to actually quantify what it means in real terms and what is achievable within our club. Debating in rhetoric isn't particularly fun though.

If we're going to (theoretically) spend 'big' on transfers, we should bring in the best young talent that have re-sale value, if we need to off load them

Simples; job done

PS Haven't read all the posts in your epic debate, apologies if the above has already been mooted

 

[am_yisrael_chai]

Yep - I referred to the past. What else can I refer to? And please know that I'm not just resting on the idea that 2018 is better than 2001, I'm looking at the recent past as well.

I never said that anti-ENIC comments relate solely to this summer... I said "This again feels like ignoring what has been done by the owners (even quite recently) because we didn't sign a player this summer. " in direct response to your comments about no sporting ambition and signing young players. It means that things like the Kane/Son/Lamela contracts and things like the Sanchez/Aurier signings often get ignored when talking about ENIC's sporting ambitions or ability to spend big on young players.

I had written a full post here talking about the young players we've bought, the average age of our best XI, the recent contract spending and how it's understandable that this last summer is pushing an opinion bias (which you even hint at in your own reply). But then I gave up because it seems clear that your mind is made up no matter what I might write here. I think the same goes for many.

It's a real shame honestly. There are lots of things I think we agree on and would be interesting to talk about. The idea of increasing our risk in terms of player transfers is such a cool topic once you get out of the clouds and try to actually quantify what it means in real terms and what is achievable within our club. Debating in rhetoric isn't particularly fun though.

As I said previously ignore me just listen to Poch and the sub-text of his recent comments. If Levy doesn’t help out his manager in January then I fear Poch will be off to Manchester in the summer. Helping him isn’t just buying players it is almost as much about being pragmatic in the prices asked for the players Poch wants rid of. The story of our transfers since Poch arrived has been a recurring theme of failing to pay up for the players identified as our top targets and buying unsuitable alternatives who bomb. The most obvious ones that come to mind are:
1) Wanted - Musacchio (mobile and rapid); Got - Fazio (immobile and slow)
2) Wanted - Zaha (I’m not a fan but Poch is): Got - Sissoko (best I don’t comment)
3) Wanted - Batshuayi (quick and powerful); Got - Janssen (slow and immobile)

In every case while the player purchased was in the same position as our primary reported target their attributes were wildly different and unsurprisingly they bombed. Against this backdrop I’m not really surprised we didn’t sign anyone this summer I can quite easily see a situation where Poch said enough to cheaper, wholly unsuitable Plan Bs.

 

[cliff jones]

I was actually bouncing back something he accused someone else of (me) the other day. People in glasshouses ?

We cannot regularly outperform clubs that are far richer than us. Wealth is built slowly over time and we have consistently moved in the right direction in recent times. There are more aggressive - high risk ways to bridge that gap. We have chosen a less aggressive- less risky way.

The sudden rise of teams over the past 15 years has only happened when significant foreign investment has been pumped in - never through the kind of organic growth we are striving for. We are self-sufficient and well run and I am grateful for that.

did you want us to spend £50m in the summer on NDombele? Would that not have been a smart, affordable way of moving in the right direction? Not spending City or Liverpool money, just backing our judgement with half the TV money West Ham or Fulham spent...

 

[Lilbaz]

did you want us to spend £50m in the summer on NDombele? Would that not have been a smart, affordable way of moving in the right direction? Not spending City or Liverpool money, just backing our judgement with half the TV money West Ham or Fulham spent...

Yet west ham and fulham haven't improved and we are having our best start to a premier league ever.

I think we need new owners or at least new investment but we need to spend wisely. Using those two clubs is not a good example.

 

[LeParisien]

did you want us to spend £50m in the summer on NDombele? Would that not have been a smart, affordable way of moving in the right direction? Not spending City or Liverpool money, just backing our judgement with half the TV money West Ham or Fulham spent...

I do think that would have been an excellent signing.

Have you incorrectly assumed I am for no spending ever?

I also argued that every year people say « even these mid table clubs are spending big » with fear and admiration in their hearts, and every year we outperform them. Every year a significant chunk of the big transfer fees and wages the Evertons and West Hams of this world spend is wasted, despite the apparent shrewd sexiness of their Dutch or Portuguese or South American names. These clubs’ strategies are exactly what we should be avoiding.

 

[cliff jones]

I do think that would have been an excellent signing.

Have you incorrectly assumed I am for no spending ever?

I also argued that every year people say « even these mid table clubs are spending big » with fear and admiration in their hearts, and every year we outperform them. Every year a significant chunk of the big transfer fees and wages the Evertons and West Hams of this world spend is wasted, despite the apparent shrewd sexiness of their Dutch or Portuguese or South American names. These clubs’ strategies are exactly what we should be avoiding.

no assumptions, just wondering how you reconciled the point you made about consistently and incrementally moving forward with zero signings in the summer? I'm Dembele's biggest fan yet willing to concede he's edging past his best, and with Winks and Wanyama made of glass we really did need to invest in this position. The price for NDombele was affordable but we won't be paying 15-20m more this summer so it isn't going to happen.

Was Janssen sexy? Moura? Gomes- who is seems Levy was happy to deal for but Poch evidently didn't think was up to it? I don't think nationalities are relevant myself, or that there's nobody out there better than we've already got, these are just excuses from people who are paid a fortune to spot talent and deal for it in the 2018/19 market- not launch a naive one-club protest to pay 2015 fees all over again.

The bottom line is Levy is paid to ensure we do move forward, on the pitch, whether that's sanctioning a big one every other season like a Sanchez or NDombele- or successfully scouting a Dier or an Alli. Getting none done at all is laughable, although some aren't bright enough to see the consequences.

 

[cliff jones]

Yet west ham and fulham haven't improved and we are having our best start to a premier league ever.

I think we need new owners or at least new investment but we need to spend wisely. Using those two clubs is not a good example.

West Ham plainly have improved but thankfully not by much, yet. Fulham have brought too many in but how do you know they wouldn't have done event worse without Schuurle for example? You don't.

I was advocating spending £50m on NDombele as wise, and affordable. Not £100m as they did. Who is a good benchmark, then?

We've got more points, agreed- at the moment. And that's what matters in the end. But we won't have our best season ever, on points, quality of football, or by any other measurement. Come back to me if we do.

 

[shelfboy68]

I do think that would have been an excellent signing.

Have you incorrectly assumed I am for no spending ever?

I also argued that every year people say « even these mid table clubs are spending big » with fear and admiration in their hearts, and every year we outperform them. Every year a significant chunk of the big transfer fees and wages the Evertons and West Hams of this world spend is wasted, despite the apparent shrewd sexiness of their Dutch or Portuguese or South American names. These clubs’ strategies are exactly what we should be avoiding.

Think what you meant was "So far we have out performed them" if the club continues on it's oh that's too expensive for us policy and shit their arseholes out, then it is only a matter of time mate before others will catch up and they will.

 

[LexingtonSpurs]

From the Club's email this evening:

"Trading for the current year will, however, be impacted by the additional costs of Wembley and the delay to the opening of the new stadium."


So, no more claims that the stadium has not, and will not, impact the transfer budget...

 

[coys200]

Can anyone summaries those financials in English?

 

[dtxspurs]

From the Club's email this evening:

"Trading for the current year will, however, be impacted by the additional costs of Wembley and the delay to the opening of the new stadium."


So, no more claims that the stadium has not, and will not, impact the transfer budget...

Didn't they announce a profit of 163mil? Where the hell is all that money going?! Surely they aren't financing the project on a 10 year loan or something.

 

[coys200]

I started a new thread to discuss the financials.

 

[LexingtonSpurs]

Can anyone summaries those financials in English?

We made a lot of money.

We are spending a lot of money on the Stadium, and surrounding development.

We owe a lot of money, that will be re-financed shortly.

We have no money for transfers.

 

[LexingtonSpurs]

I started a new thread to discuss the financials.

Of course you did...

 

[StevePil]

Well he has his excuse in already for January transfer window!

 

[LexingtonSpurs]

This statement is also worth pointing out:

"The Club’s investment over recent years in facilities has resulted in total gross tangible assets at 30 June, 2018, in excess of £1bn "

There has been discussion from time to time over the valuation of the club - if ENIC were to sell. In this statement, we see that even if Spurs ceased to exist, the Club are worth "in excess of £1B" due to assets that could be sold.*

So, when you add in Football Operations - I think ENIC will be holding out for bids north of £2B. And, at that level, nobody is coming in with the mindset of dumping even more money into the club to improve its value. Whoever buys Spurs will treat the club exactly as ENIC have - an investment that can only pay off based on rising broadcast revenues.




*Yes I know that assets sold under duress are not worth market value, but this is how ENIC will value the club.

 

[Metalhead]

This statement is also worth pointing out:

"The Club’s investment over recent years in facilities has resulted in total gross tangible assets at 30 June, 2018, in excess of £1bn "

There has been discussion from time to time over the valuation of the club - if ENIC were to sell. In this statement, we see that even if Spurs ceased to exist, the Club are worth "in excess of £1B" due to assets that could be sold.*

So, when you add in Football Operations - I think ENIC will be holding out for bids north of £2B. And, at that level, nobody is coming in with the mindset of dumping even more money into the club to improve its value. Whoever buys Spurs will treat the club exactly as ENIC have - an investment that can only pay off based on rising broadcast revenues.




*Yes I know that assets sold under duress are not worth market value, but this is how ENIC will value the club.

I think that @am_yisrael_chai said the same ref. the valuation/people won't be queuing up to buy us at that valuation. It does seem a totally reasonable conclusion to come to. I am not desperate for ENIC to sell but equally, I think that we are all going to have to adjust our expectations for a while and accept that there is a risk that we do lose Poch and some of the players who will want to win trophies.

 

[kaz Hirai]

Well he has his excuse in already for January transfer window!

As a business man though which is ultimately more expensive, spending 70/80 million or losing the manager that brings in CL revenue consistently

 

[Hercules]

Our dreams seems to be fading ?

 

[thfc1973]

Our dreams seems to be fading ?

Not if we get a new owner next year.
I'm very optimistic if that happens!!