New Stadium Details And Discussions

[Lilbaz]

One thing that appears certain for me is that we will likely never know truly how much the stadium actually has cost to build and how much we end up borrowing.

Also i wonder if the hotel phase will ever see the light of day in the near future.

We will see it in the financials. They have been a little light on detail recently but new uefa rules means that all clubs have to publish their financials for ffp.

 

[DiscoD1882]

£237million or 10 transfer windows.

 

[Lee82]

We will see it in the financials. They have been a little light on detail recently but new uefa rules means that all clubs have to publish their financials for ffp.

Yeah your right. Obviously takes time though for those true figures to come through. I just don’t like it when they pull tricks like throwing the profit before deductions figure in that statement last week. I found it odd that they would do that as it leaves some supporters thinking that we’ve just made a massive profit, then they are calling for a big splurge on players when in reality the real profit is far lower and any profit has probably already gone on the stadium already.

 

[LexingtonSpurs]

I just don’t like it when they pull tricks like throwing the profit before deductions figure in that statement last week.

That is the normal way of reporting profits - from an accounting perspective. EBITDA (Earnings before Interest, Tax, Depreciation, and Amortization) is a standard accounting term for reporting financial statements. All public companies would report EBITDA.

 

[Lilbaz]

Yeah your right. Obviously takes time though for those true figures to come through. I just don’t like it when they pull tricks like throwing the profit before deductions figure in that statement last week. I found it odd that they would do that as it leaves some supporters thinking that we’ve just made a massive profit, then they are calling for a big splurge on players when in reality the real profit is far lower and any profit has probably already gone on the stadium already.

Because posting a large profit makes it easier to get finance and who knows maybe a possible buyer.

 

[Lilbaz]

That is the normal way of reporting profits - from an accounting perspective. EBITDA (Earnings before Interest, Tax, Depreciation, and Amortization) is a standard accounting term for reporting financial statements. All public companies would report EBITDA.

Why now though? Our financials are not due till next year.

 

[LexingtonSpurs]

Why now though? Our financials are not due till next year.

I think these are reporting on the financial year ending this past June.

Levy is in a tough spot - he knows the supporters want answers, and he knows most supporters would not understand the intricacies of the financial tightrope he is walking. He is trying to point out that the club will be taking on more debt, but softening the blow by pointing out that the increase in revenues will support higher debt. (Of course, he also goes on to acknowledge that we have no money for transfers - unless we sell first.)

 

[Lilbaz]

I think these are reporting on the financial year ending this past June.

Levy is in a tough spot - he knows the supporters want answers, and he knows most supporters would not understand the intricacies of the financial tightrope he is walking. He is trying to point out that the club will be taking on more debt, but softening the blow by pointing out that the increase in revenues will support higher debt. (Of course, he also goes on to acknowledge that we have no money for transfers - unless we sell first.)

All our financials end in june but are usually released feb/march/april the next year. Financials ending june 17 were released april this year.

Just find it strange.

 

[LexingtonSpurs]

Because posting a large profit makes it easier to get finance and who knows maybe a possible buyer.

A buyer is less interested in "profits" than you might imagine. Typically, a buyer will be looking at projected cash flows in future years. "Profits" are really just an accounting term - that can be easily manipulated up or down depending on need.

A buyer would project future cash flows, and then discount those future cash flows to today's Pound - and that is how you get a general valuation on a business (plus all the tangible assets, which Levy also noted in the Club's statements). A buyer might (almost certainly will) have a different valuation of both the tangible assets, as well as the projected future cash flows.

 

[davidmatzdorf]

As others have mentioned, it’s a draw down or revolving credit facility. Most importantly, it’s described as ‘development finance’, which means it is short term money. How much the residual long term debt amounts to will depend on the ‘commercial decisions’ and the sale values of the housing and hotel. Also it will depend on how much of the costs of late completion can be recouped from the contractor. So it’s not a disaster or anything like that. It’s the expected consequence of late completion of Phase 2.

 

[davidmatzdorf]

£237million or 10 transfer windows.

It’s not expenditure. It’s short term debt. So no effect at all.

 

[Gb160]

As others have mentioned, it’s a draw down or revolving credit facility. Most importantly, it’s described as ‘development finance’, which means it is short term money. How much the residual long term debt amounts to will depend on the ‘commercial decisions’ and the sale values of the housing and hotel. Also it will depend on how much of the costs of late completion can be recouped from the contractor. So it’s not a disaster or anything like that. It’s the expected consequence of late completion of Phase 2.

So you're trying to tell me that some posters have read something they don't actually understand, and due to the fact it sounds like bad news, they've wrongly labelled it a 'disaster', and a 'shambles'?
That doesn't sound like this place at all.

 

[coys200]

Unless I’m really thick it’s something like this. I’ve seen quoted by quite a reliable account that our “mortgage” payment will be in the region of £50m a year. The figures quoted the other day said our revenue was £380m and that’s without the ST hike,naming rights, 16 non football events and probably lots of other stuff new shop etc. Be very surprised if we don’t go north of £450m when all up and running. Last season WHL was £300m. So basically revenue will be going up £150m and the debt will be £50m. I’m sure it’s not as straight forward or maybe it is ? If so we are cushty.

 

[wirE]

It bothers me that not even Levy knows the date

 

[Hotspur1978]

Found this from Martin Samuel in the DM last night.

According to his sources, we wont move in until next season.

What a clusterfuck of a fiasco, this would be.

********************

Wait on date for Spurs move-in

Early this season, when there was still talk of Tottenham being in their new stadium for the match with Liverpool on September 15, I was told they would not be in before January.

Now Tottenham have pushed their arrival back to January, the same voices are saying it won’t happen in the 2018-19 campaign and Tottenham will not return to White Hart Lane until the start of next season.

The remaining fixtures will be played at Wembley and meetings have already been held to this affect.

Tottenham are always very bullish about when the stadium will be ready and I would expect them to maintain that January is the date. But we’ll see.

https://www.dailymail.co.uk/sport/f...ignore-perils-vile-initiation-ceremonies.html

 

[Lee82]

The way I see it is that the club still don’t know the full extent of the problems with the stadium and are likely still finding new issues as they are trying to rectify the known problems. This must be what is making it so hard to predict an opening date.

 

[thebenjamin]

How badly wired can something be?

 

[Saoirse]

How badly wired can something be?

Turns out we chopped N'Koudou up into pieces and used them as spare parts.

 

[LexingtonSpurs]

How badly wired can something be?

Gives me an idea for a stadium sponsor

 

[Lee82]

How badly wired can something be?

They still haven’t fixed the wiring issues at the new Berlin airport 6 years after discovering the issues. The problems there started with the discovery faulty safety systems just like ours, then the issues spiralled out of control. Hopefully ours stays at just wiring problems.

https://www.telegraph.co.uk/travel/news/berlin-new-airport-delayed-again/