Levy plans to stay long term but must consider takeover bids

jimbo

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The only thing worth debating is how he goes about doing it...

I think Levy is primarily and above all a businessman. I don’t think he’s terribly concerned about what supporters think of him... He will stick to whatever he sees as the plan. He is not an opportunist, except in the small details, occasionally. They are not integral to how he approaches big decisions...
I believe he is taking the very long view.. it’s his idea of wise long term management, and he probably looks back at where on we were when he took over and feels vindicated.
He’s not the type of person who’s affected by the taunts of the opposition, the media and our own fans...
...he believes he’s taking the harder route to better things.
But is it as good as it gets? He won’t believe so.
I’m convinced, from 1st hand experience, that he’s astute enough to know that the more successful the team, the higher the value of the company.
If I’m right, if he believes that he’s right, if he believes that the reason he’s unpopular is because he’s taking a longer view that absolutely requires more patience than most fans are prepared to willingly bear, then he will not believe that selling to someone who simply sees the value of TV revenues and bricks and mortar assets is the best use of ENIC’s assets. He will believe that he has a better insight into the future potential of the club than anyone else has.
And so he should. I just hope he’s right.
It seems as though you know a lot more about Levy than I do, how he thinks, how he feels, what his motivations and plans are. I don't have the benefit of that insight and can only judge him on his actions.

It gets thrown out in his defence a lot that he has seen us improve from when he took over. That's entirely fair. We were a dumpster fire when he arrived and he's not only put that fire out, but he's turned the dumpster into a shiny new stadium (with lots of other improvements). Was he the only man who could have done that? We'll never know. But what is much less is certain are a) his intentions (and by association his motivations for doing it) and b) whether he is capable of the necessary actions to take it further. As far as I'm concerned both of those are very much open to debate.

Perhaps his ego hampers us when it comes to current transfer dealings, or his approach has burnt too many bridges. Perhaps we don't have the money for various reasons. Perhaps he doesn't want to invest in players where he doesn't see the value - which leads to questioning whether he should be the one to make those decisions. Maybe he does think and feel and believe in the manner you describe, but maybe he doesn't. Maybe, just maybe, he has found himself out of his depth and is struggling with the pressures and scrutiny that his decisions have brought and would jump at the chance to leave the spotlight if the opportunity appeared.

At the moment there are plenty of reasons to question him - most of which are of his own making.
 

whitestreak

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541
You may be misinterpreting what I’m saying. Of course he wants to maximise profit. The only thing worth debating is how he goes about doing it. And then, possibly, how he realises that profit, because selling is not always the best way of doing it, and he seems to be acutely aware of that.

I think Levy is primarily and above all a businessman. I don’t think he’s terribly concerned about what supporters think of him, so his decisions are not influenced by how people will react to his decisions. He will stick to whatever he sees as the plan. He is not an opportunist, except in the small details, occasionally. They are not integral to how he approaches big decisions. That is important ..

I believe he is taking the very long view. That is why he is not tempted to blow money on players who don’t appear to him or his closest coterie to be a definitive improvement on what they already have. It may leave us weak in some areas, (in my opinion it certainly does) but it’s not neglect, it’s his idea of wise long term management, and he probably looks back at where on we were when he took over and feels vindicated.

He’s not the type of person who’s affected by the taunts of the opposition, the media and our own fans who see winning a trophy now as more important than trying to build a successful dynasty. He will certainly believe that finishing in the top three more than just the once is a more important step in the right direction than winning the FACup while falling out of the top four as Arsenal have done. Many disagree with him. But he’s making the decisions.

He may be wrong but he’s consistent, and he believes he’s taking the harder route to better things. Of course this transfer window was insufferably disappointing to many supporters, but I don’t think it sheds any new light on the wayhe works.

It’s all too easy to interpret all this as a sign that he’s tight fisted, or looking to get out. Quick while the going’s good. But is it as good as it gets? He won’t believe so.

I’m convinced, from 1st hand experience, that he’s astute enough to know that the more successful the team, the higher the value of the company. And ditto the fuller the stadium, even if TV revenues dwarf ticket sales, because the two are linked.

So there are only two reasons I can see for not spending money in the transfer market.: One is that he genuinely didn’t see any value in what was available compared with the opportunity cost of increasing the salaries of the existing squad as far as possible, and the other is that covenants in the loan documents prevent it. If it’s the latter, it will have been exacerbated by the escalating costs of the stadium, and it would call into question the assurances we were given about the transfer budget being ring-fenced. That won’t have been a lie, because the project budget did allow for aggressive cost escalation, and a lie is a deliberate falsification, but it may well have been a bad mistake. References to Brexit are easily laughed off, but that doesn’t make them irrelevant.

If I’m right, if he believes that he’s right, if he believes that the reason he’s unpopular is because he’s taking a longer view that absolutely requires more patience than most fans are prepared to willingly bear, then he will not believe that selling to someone who simply sees the value of TV revenues and bricks and mortar assets is the best use of ENIC’s assets. He will believe that he has a better insight into the future potential of the club than anyone else has.

And so he should. I just hope he’s right.
That is the best post I have read in a long long time, spot on IMHO. Well done
 

Led's Zeppelin

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It seems as though you know a lot more about Levy than I do, how he thinks, how he feels, what his motivations and plans are. I don't have the benefit of that insight and can only judge him on his actions.

It gets thrown out in his defence a lot that he has seen us improve from when he took over. That's entirely fair. We were a dumpster fire when he arrived and he's not only put that fire out, but he's turned the dumpster into a shiny new stadium (with lots of other improvements). Was he the only man who could have done that? We'll never know. But what is much less is certain are a) his intentions (and by association his motivations for doing it) and b) whether he is capable of the necessary actions to take it further. As far as I'm concerned both of those are very much open to debate.

Perhaps his ego hampers us when it comes to current transfer dealings, or his approach has burnt too many bridges. Perhaps we don't have the money for various reasons. Perhaps he doesn't want to invest in players where he doesn't see the value - which leads to questioning whether he should be the one to make those decisions. Maybe he does think and feel and believe in the manner you describe, but maybe he doesn't. Maybe, just maybe, he has found himself out of his depth and is struggling with the pressures and scrutiny that his decisions have brought and would jump at the chance to leave the spotlight if the opportunity appeared.

At the moment there are plenty of reasons to question him - most of which are of his own making.
I think you’re right to question him and his actions in the way you do. But we need more information, and too many opinions based on guesswork are being expressed as certainties.

Yes, over the years I have dealt with him countless times and I think I’ve got to know him pretty well. And what I say is based on my reasonably well informed opinions. But they are still only opinions, and there’s always room to be wrong, though I have to say that it’s people who know the least who are often the most sure that they’re right, as in most walks of life. And he does like to play his cards very close to his chest which doesn’t help when it comes to public relations.. But it’s because I know him that I’m happy to share my opinions with people who obviously care about our club and, in my view, have a right to know more than he usually tells us.

One thing I don’t doubt is his determination to make Spurs as successful as he can. He knows full well that both his business reputation and his wealth depend on this, and he’s a person who takes his responsibilities extremely seriously. And in addition, as with most people (but sadly not all) he has actually grown to be more emotionally attached to the club the closer and longer he has worked there, and his ambition is sincere.

But he’s not perfect and like everyone he makes mistakes, or at best ( or worst) he does things that are hard to understand and therefore hard to agree with. I do think he’s too conservative sometimes, and too reluctant to take advice, but given how much bad and conflicting advice there always is in football circles, I’m not sure I blame him for just sticking to his own ideas about how to go about things.

So you may be right, there may well be other people who would do a better job. As you say, it’s very hard to know. I just feel that there’s sometimes a lack of logic rather than knowledge in some of the wilder guesses, particularly about his motivations, that I’d question whether I’d ever known the man or not, based purely on my business experience and dispassionate thinking about how any reasonable professional person would behave in his situation.
 

am_yisrael_chai

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Messages
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You may be misinterpreting what I’m saying. Of course he wants to maximise profit. The only thing worth debating is how he goes about doing it. And then, possibly, how he realises that profit, because selling is not always the best way of doing it, and he seems to be acutely aware of that.

I think Levy is primarily and above all a businessman. I don’t think he’s terribly concerned about what supporters think of him, so his decisions are not influenced by how people will react to his decisions. He will stick to whatever he sees as the plan. He is not an opportunist, except in the small details, occasionally. They are not integral to how he approaches big decisions. That is important ..

I believe he is taking the very long view. That is why he is not tempted to blow money on players who don’t appear to him or his closest coterie to be a definitive improvement on what they already have. It may leave us weak in some areas, (in my opinion it certainly does) but it’s not neglect, it’s his idea of wise long term management, and he probably looks back at where on we were when he took over and feels vindicated.

He’s not the type of person who’s affected by the taunts of the opposition, the media and our own fans who see winning a trophy now as more important than trying to build a successful dynasty. He will certainly believe that finishing in the top three more than just the once is a more important step in the right direction than winning the FACup while falling out of the top four as Arsenal have done. Many disagree with him. But he’s making the decisions.

He may be wrong but he’s consistent, and he believes he’s taking the harder route to better things. Of course this transfer window was insufferably disappointing to many supporters, but I don’t think it sheds any new light on the wayhe works.

It’s all too easy to interpret all this as a sign that he’s tight fisted, or looking to get out. Quick while the going’s good. But is it as good as it gets? He won’t believe so.

I’m convinced, from 1st hand experience, that he’s astute enough to know that the more successful the team, the higher the value of the company. And ditto the fuller the stadium, even if TV revenues dwarf ticket sales, because the two are linked.

So there are only two reasons I can see for not spending money in the transfer market.: One is that he genuinely didn’t see any value in what was available compared with the opportunity cost of increasing the salaries of the existing squad as far as possible, and the other is that covenants in the loan documents prevent it. If it’s the latter, it will have been exacerbated by the escalating costs of the stadium, and it would call into question the assurances we were given about the transfer budget being ring-fenced. That won’t have been a lie, because the project budget did allow for aggressive cost escalation, and a lie is a deliberate falsification, but it may well have been a bad mistake. References to Brexit are easily laughed off, but that doesn’t make them irrelevant.

If I’m right, if he believes that he’s right, if he believes that the reason he’s unpopular is because he’s taking a longer view that absolutely requires more patience than most fans are prepared to willingly bear, then he will not believe that selling to someone who simply sees the value of TV revenues and bricks and mortar assets is the best use of ENIC’s assets. He will believe that he has a better insight into the future potential of the club than anyone else has.

And so he should. I just hope he’s right.
You seem close to Levy so you do know that he is actively offering the club for sale right now ? You also presumably know that the discussions 4 years ago with Cain Hoy were very real and only fell apart at the last minute when Levy changed the price ? Not exactly consistent with someone who believes he has “a better insight into the future potential of the club than anyone else has”.

He has suffered 2 major setbacks in the last few months and I suspect they are correlated 1) Shahid Khan bidding for Wembley and likely moving the Jaguars there and 2) failure to get a naming rights deal. So yes it could well be he has a better insight into the value of the club and he wants to sell because it looks way less likely the new ground will get an NFL franchise playing there than it did a few months ago.
 

Lilbaz

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You seem close to Levy so you do know that he is actively offering the club for sale right now ? You also presumably know that the discussions 4 years ago with Cain Hoy were very real and only fell apart at the last minute when Levy changed the price ? Not exactly consistent with someone who believes he has “a better insight into the future potential of the club than anyone else has”.

He has suffered 2 major setbacks in the last few months and I suspect they are correlated 1) Shahid Khan bidding for Wembley and likely moving the Jaguars there and 2) failure to get a naming rights deal. So yes it could well be he has a better insight into the value of the club and he wants to sell because it looks way less likely the new ground will get an NFL franchise playing there than it did a few months ago.
Levy did not change the price with cain hoy. Levy can't set a price. Cain hoy would have been legally required to make any offer public as all shareholders would have to be consulted (levy owns only a small percentage of the club).
 

cliff jones

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Astutely illustrated by the total meltdown over a 1 month delay in a billion dollar construction project?
I don't think there's been a total meltdown? Some are pissed, both personally and with the implications for the Club, but I think the balance see the bigger picture- even including me. Plan A was ready for the start of the season though? More likely 3 months or more than 1?
 

am_yisrael_chai

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Levy did not change the price with cain hoy. Levy can't set a price. Cain hoy would have been legally required to make any offer public as all shareholders would have to be consulted (levy owns only a small percentage of the club).
ENIC own 85.5% of Spurs, so yes ENIC negotiate with prospective purchasers with respect to the price they are willing to sell their stake and if this is agreed then the same price must be offered to all other shareholders. Cross 90% and you can forcibly buy out all shareholders as Kroenke is doing. Levy definitely changed the price, I’m ITK on that.
 

Spurslove

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If you read any of the articles about this story, they all link back to the "West Ham World" website.
There's absolutely zero reports other than this, which suggests it's bollocks.
Thanks for putting the record straight. Once again, the word 'Bollocks' is closely affiliated to the club run by the Dildo Brothers and Miss Piggy.

(Incidentally, I was greatly encouraged that they were once again, utterly atrocious at Anfield last weekend. All that money spent and still the same absolute garbage on the pitch. Lovely)!

(y)

.
 

Metalhead

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You seem close to Levy so you do know that he is actively offering the club for sale right now ? You also presumably know that the discussions 4 years ago with Cain Hoy were very real and only fell apart at the last minute when Levy changed the price ? Not exactly consistent with someone who believes he has “a better insight into the future potential of the club than anyone else has”.

He has suffered 2 major setbacks in the last few months and I suspect they are correlated 1) Shahid Khan bidding for Wembley and likely moving the Jaguars there and 2) failure to get a naming rights deal. So yes it could well be he has a better insight into the value of the club and he wants to sell because it looks way less likely the new ground will get an NFL franchise playing there than it did a few months ago.
I never realised that the Cain Hoy bid was so close to realisation. I'm quite surprised that he would change the price at the last minute as one would have thought that someone like DL would have a firm idea of what he would expect for the club. Not doubting you whatsoever by the way, it just surprises me that he would change the goalposts last minute as that doesn't sound like the best approach when you are running a multi million pound business.
 

vegassd

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Aug 5, 2006
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Leicester City, premier league and league cup.
Yep :)

I think we can all agree that Leicester's league victory was dazzling but also out of the blue. I'm not sure what kind of model they had which could be copied and deliver a league victory. Not taking anything away from them.

The point I was making (and not saying you are disagreeing with it) is that this thing about "must deliver silverware" is a valid argument but still very tricky to achieve. The vast majority of clubs outside of United, City, Liverpool, Chelsea and Arsenal never win anything. I like the model we have used that has seen us steadily improve to get into that big money bracket at the top of the league where it is going to be easier to achieve trophies.

In relation to selling up, I think he has helped us become one of, if not the most attractive investment in the league now, depending on the ins and outs of how the stadium has been financed. What I think would be interesting would be if ENIC do sell up to a deep-pockets investor, would that investor invite Levy to stay on as chairman?
 

Led's Zeppelin

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You seem close to Levy so you do know that he is actively offering the club for sale right now ? You also presumably know that the discussions 4 years ago with Cain Hoy were very real and only fell apart at the last minute when Levy changed the price ? Not exactly consistent with someone who believes he has “a better insight into the future potential of the club than anyone else has”.

He has suffered 2 major setbacks in the last few months and I suspect they are correlated 1) Shahid Khan bidding for Wembley and likely moving the Jaguars there and 2) failure to get a naming rights deal. So yes it could well be he has a better insight into the value of the club and he wants to sell because it looks way less likely the new ground will get an NFL franchise playing there than it did a few months ago.
Why do you think it isn’t consistent with someone who believes they know the value better than anyone else? And why do you think hiking the price up at the last minute is an indication that he actively wanted to sell?

It suggests the opposite to me: that Cain Hoy were getting increasingly serious (which we know) and that he didn't want to sell at the sort of price they were likely to offer. (Because as I say, he believed he knew the value better than they did, as is normally the case with owners.) Like most investors who don't want to sell their prize assets, there's still a price at which it would be silly to refuse, so he gave them that price and they withdrew. All quite straightforward and standard stuff.

But fast forward to now. No, I am not so close to Levy that I know what his ultimate plans are for the company. And neither is anyone else except for Joe Lewis. And those who think they are, are almost certainly mistaken.

My view is that despite the setbacks, they are not enough to fundamentally change his confidence that in the long run, the new stadium and global revenue growth will increase the value of the club beyond current valuations, and unless someone is prepared to offer a substantial premium over the net present value of these projected increases, ENIC, who are not short of cash, will choose not to sell. If, however, THFC (as opposed to ENIC) is unable to fund the completion of the project, still an unlikely scenario despite the delays and cost escalations, ENIC will look at the whole funding question again, which it is bound to do, and that almost inevitably includes questions around investment including ownership. In fact, it is one of those questions that is never completely off the agenda, and you can see from the history of ENIC's involvement in Spurs and other investments that they are always keen to adjust things as opportunities arise and circumstances change.

So as usual, it's not wise to assume that the future can be predicted. But my unwise prediction is still that it will take a lot to shift them.
 

am_yisrael_chai

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Why do you think it isn’t consistent with someone who believes they know the value better than anyone else? And why do you think hiking the price up at the last minute is an indication that he actively wanted to sell?

It suggests the opposite to me: that Cain Hoy were getting increasingly serious (which we know) and that he didn't want to sell at the sort of price they were likely to offer. (Because as I say, he believed he knew the value better than they did, as is normally the case with owners.) Like most investors who don't want to sell their prize assets, there's still a price at which it would be silly to refuse, so he gave them that price and they withdrew. All quite straightforward and standard stuff.

But fast forward to now. No, I am not so close to Levy that I know what his ultimate plans are for the company. And neither is anyone else except for Joe Lewis. And those who think they are, are almost certainly mistaken.

My view is that despite the setbacks, they are not enough to fundamentally change his confidence that in the long run, the new stadium and global revenue growth will increase the value of the club beyond current valuations, and unless someone is prepared to offer a substantial premium over the net present value of these projected increases, ENIC, who are not short of cash, will choose not to sell. If, however, THFC (as opposed to ENIC) is unable to fund the completion of the project, still an unlikely scenario despite the delays and cost escalations, ENIC will look at the whole funding question again, which it is bound to do, and that almost inevitably includes questions around investment including ownership. In fact, it is one of those questions that is never completely off the agenda, and you can see from the history of ENIC's involvement in Spurs and other investments that they are always keen to adjust things as opportunities arise and circumstances change.

So as usual, it's not wise to assume that the future can be predicted. But my unwise prediction is still that it will take a lot to shift them.
You’ve got the process all wrong, ENIC touted the club at a price, Cain Hoy bit at that price and began diligence, when it looked like they would actually pay the price ENIC had asked for they raised the price by a large amount.

It would appear that Levy is consistent in his “tactics” whether selling a player or selling the club. You are correct in the belief that “we can always get more” may be the sole reason ENIC don’t sell. However, that isn’t exactly a great backdrop for owners of our club.

Personally if we are going to be run as a property company rather than a football club I’d rather our chairman was someone who was experienced in big property projects rather than Daniel Levy who patently isn’t. If you think they aren’t running a property business consider how the club’s cash flow has been used or what the £1bn is currently being spent on. It isn’t the football stadium which is around £400m, the rest is residential property, a hotel and a supermarket. Add to this that ENIC directly have bought up vast chunks of property around the stadium to try and benefit from the uplift in values from the regeneration of the area and I think you get a super clear picture of where ENIC’s interests lie and it isn’t in the football side. Call me old fashioned but I’d prefer owners who are focussed on maximising the football operations of our football club rather than playing at being wannabe property developers.
 

thebenjamin

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You’ve got the process all wrong, ENIC touted the club at a price, Cain Hoy bit at that price and began diligence, when it looked like they would actually pay the price ENIC had asked for they raised the price by a large amount.

It would appear that Levy is consistent in his “tactics” whether selling a player or selling the club. You are correct in the belief that “we can always get more” may be the sole reason ENIC don’t sell. However, that isn’t exactly a great backdrop for owners of our club.

Personally if we are going to be run as a property company rather than a football club I’d rather our chairman was someone who was experienced in big property projects rather than Daniel Levy who patently isn’t. If you think they aren’t running a property business consider how the club’s cash flow has been used or what the £1bn is currently being spent on. It isn’t the football stadium which is around £400m, the rest is residential property, a hotel and a supermarket. Add to this that ENIC directly have bought up vast chunks of property around the stadium to try and benefit from the uplift in values from the regeneration of the area and I think you get a super clear picture of where ENIC’s interests lie and it isn’t in the football side. Call me old fashioned but I’d prefer owners who are focussed on maximising the football operations of our football club rather than playing at being wannabe property developers.
I've always seen their ownership of Tottenham as one giant property deal. Which doesn't necessarily mean they're not interested in football success, but obviously the property market is a lot less risky than the football market. So that's where their priorities have always been. It's the most obvious way for them to make money out of THFC.
 

fortworthspur

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dont know who's going to come in and buy the club for a billion dollars. City and Chelsea sold for much less, back before the explosion in TV revenue. the big growth in value has already occurred so there are probably better investments out there and a billion dollars is pretty steep for someone's toy.
 

Led's Zeppelin

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You’ve got the process all wrong, ENIC touted the club at a price, Cain Hoy bit at that price and began diligence, when it looked like they would actually pay the price ENIC had asked for they raised the price by a large amount.

It would appear that Levy is consistent in his “tactics” whether selling a player or selling the club. You are correct in the belief that “we can always get more” may be the sole reason ENIC don’t sell. However, that isn’t exactly a great backdrop for owners of our club.

Personally if we are going to be run as a property company rather than a football club I’d rather our chairman was someone who was experienced in big property projects rather than Daniel Levy who patently isn’t. If you think they aren’t running a property business consider how the club’s cash flow has been used or what the £1bn is currently being spent on. It isn’t the football stadium which is around £400m, the rest is residential property, a hotel and a supermarket. Add to this that ENIC directly have bought up vast chunks of property around the stadium to try and benefit from the uplift in values from the regeneration of the area and I think you get a super clear picture of where ENIC’s interests lie and it isn’t in the football side. Call me old fashioned but I’d prefer owners who are focussed on maximising the football operations of our football club rather than playing at being wannabe property developers.
Interesting. But I don't feel confident that you're interpreting all the information you're getting correctly. You're assuming, for example, that because the price of the stadium alone is around half of the total development cost, that it's basically a property play. I disagree with that for several reasons, not least of which is that the stadium would not have been possible without the development, or at least a LOT more difficult. So the two things, stadium and property, are indivisible. Where the priority lies in ENIC's thinking is a matter of speculation, so it still comes down to opinions. As far as selling the club, time will tell who’s right.
 
Last edited:

whitestreak

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541
Interesting. But I don't feel confident that you're interpreting all the information you're getting correctly. You're assuming, for example, that because the price of the stadium alone is around half of the total development cost, that it's basically a property play. I disagree with that for several reasons, not least of which is that the stadium would not have been possible without the development, or at least a LOT more difficult. So the two things, stadium and property, are indivisible. Where the priority lies in ENIC's thinking is a matter of speculation, so it still comes down to opinions. As far as selling the club, time will tell who’s right.
LZ I fully support your Position, some people on here love to spout a load of ill researched drivel, which drives me nuts!
Anyone with real development experience will telll you that complex projects can and do overrun for a multitude of reasons both in time and costs.
Factors like Brexit, and the falling pound can have an effect, although my information is that Tavistock hedged their currency risk.

Furthemore, Tavistock have a wealth of real estate experience, huge track record in building large and complex projects.

With a thoughtful, forward-looking vision and a nimble, collaborative team, Tavistock Development Company is focused on creating long-term value in projects that inspire. With an array of services – planning, design, finance, construction and development – Tavistock Development had built a portfolio of nationally acclaimed properties, including the 17-square-mile, master-planned community Lake Nona in Orlando, which Fortune heralded as “the future of cities.”

http://www.tavistock.com/portfolio/

if you are so inclined to check out , the Commercial, Residential, Hotels, Resorts and the Nexus Luxury Collection, plus parts of Lyford Cay, In the Bahamas are just some of the projects they have developed.
Uncle Joe is hardly a real estate novice.
In fact i would go so far as to say they are an extremely high class team.
They are not novices.
A little bit of perspective, Wembley Stadium took 5 years to be built. NWHL is likely to be delayed a few months. and will most likely open by XMAS. Shit happens, I bet they (ENIC) are much more pissed off than us.
 

TottenhamMattSpur

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9,638
Yep :)

I think we can all agree that Leicester's league victory was dazzling but also out of the blue. I'm not sure what kind of model they had which could be copied and deliver a league victory. Not taking anything away from them.

The point I was making (and not saying you are disagreeing with it) is that this thing about "must deliver silverware" is a valid argument but still very tricky to achieve. The vast majority of clubs outside of United, City, Liverpool, Chelsea and Arsenal never win anything. I like the model we have used that has seen us steadily improve to get into that big money bracket at the top of the league where it is going to be easier to achieve trophies.

In relation to selling up, I think he has helped us become one of, if not the most attractive investment in the league now, depending on the ins and outs of how the stadium has been financed. What I think would be interesting would be if ENIC do sell up to a deep-pockets investor, would that investor invite Levy to stay on as chairman?
In the period of time Enic have been at Spurs, Leicester have built a new a stadium, risen from league one back to the premier league, won the league cup and won the premier league.

I'd say they've done pretty well when you consider where they are in both the country and the football world.

Bottom line is, in 18 years or so, they have been more successful than us lol.
 

thekneaf

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In the period of time Enic have been at Spurs, Leicester have built a new a stadium, risen from league one back to the premier league, won the league cup and won the premier league.

I'd say they've done pretty well when you consider where they are in both the country and the football world.

Bottom line is, in 18 years or so, they have been more successful than us lol.
They were also afforded a level of deference that would never be extended to us.
 
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