Tottenham Hotspur to delist shares

[smokesoapbar]

Football club Tottenham Hotspur is to de-list its shares from the stock market and go private as part of plans to raise funds for a new stadium.


Club chairman Daniel Levy said that de-listing from the AIM exchange would help it as the listing, "restricts our ability to secure funding".


Tottenham also reported a profit of £402,000 for the year to 30 of June, helped by Champions League income.


The results were an improvement over a £6.5m loss in 2010.
Stadium battle

Mr Levy said: "Increasing the capacity of the club's stadium is a key factor in the continued development and success of the club."


Tottenham said the last day of share dealing would probably be 13 January, with the club going private on 16 January.


Last month, Tottenham announced it had withdrawn its bid for a judicial review into the handing of the Olympic Stadium to West Ham.


The move follows the collapse of the deal to award the stadium to West Ham after the London 2012 Games.


The Olympic Park Legacy Company (OPLC) blamed the collapse on delays caused by the legal dispute with Tottenham which had also sought to move into the stadium.


Instead the stadium is to remain in public ownership with clubs able to bid to use it as a tenant.


In its results Tottenham said it was not interested in bidding for the stadium as a tenant, because the Olympic running track would be retained.


Instead it said the club was actively consulting on plans to re-develop its existing ground.

 

[chinaman]

Is that a prelude to selling to an oil sheikh?

 

[$hoguN]

Is that a prelude to selling to an oil sheikh?

No it is a prelude to us raising more capital to spend on the NDP like Levy states

 

[leelee]

From what I have read on other website's this could mean we could sell to an oil rich arab shiekh but it also means we could secure private funding to enable the NDP to come to fruition. Who knows.

Maybe Joe Lewis is going to get his big fat chequebook out or maybe the Qatar Foundation have found the club they want to buy. I must admit, if I had a few billion laying around Tottenham is one of the most attractive clubs in Europe to buy. The only snag would be the Stadium but if you look at how much the Abu Dhabi lot have put into City's squad, we could build a fantastic stadium with that. Our squad seriously does not need much more investing at all. We need to keep the young quality players we have at the club while increasing their wages and maybe buy a top quality keeper, CB and CF. That's the only invenstment imo needed in the squad.

Next year is going to be a very intersting year for us yiddo's!

 

[dimiSpur]

From what I have read on other website's this could mean we could sell to an oil rich arab shiekh but it also means we could secure private funding to enable the NDP to come to fruition. Who knows.

Maybe Joe Lewis is going to get his big fat chequebook out or maybe the Qatar Foundation have found the club they want to buy. I must admit, if I had a few billion laying around Tottenham is one of the most attractive clubs in Europe to buy. The only snag would be the Stadium but if you look at how much the Abu Dhabi lot have put into City's squad, we could build a fantastic stadium with that. Our squad seriously does not need much more investing at all. We need to keep the young quality players we have at the club while increasing their wages and maybe buy a top quality keeper, CB and CF. That's the only invenstment imo needed in the squad.

Next year is going to be a very intersting year for us yiddo's!

:lol: Only about £1bn then?

 

[michaelden]

That's the only invenstment imo needed in the squad.

Next year is going to be a very intersting year for us yiddo's!

with the FFP laws in effect how can you even say that with a straight face? Don't you understand the implications for clubs with small stadiums and turnovers?

 

[Dan Ashcroft]

This is very interesting IMO. Levy and Lewis have been slowly doing this for 11 years - through buying out Sugar, the share issues etc.

Although they currently own 85%, so almost have carte blanche anyway, taking the club private again will give them a complete free hand to run the club as they wish.

I think this is a positive move in terms of them being ready to invest/commit even more.

 

[Graysonti]

with the FFP laws in effect how can you even say that with a straight face? Don't you understand the implications for clubs with small stadiums and turnovers?

164m turnover is NOT a small turnover fella.

6-10 in European (prob) football!

 

[rawhide]

Wouldn't make top 10 2 years ago (we were 11th).

http://en.wikipedia.org/wiki/Deloitte_Football_Money_League

 

[Krafty]

Can someone tell me the specifics of why delisting will help us find funding for the stadium?

 

[Dan Ashcroft]

Can someone tell me the specifics of why delisting will help us find funding for the stadium?

Not sure. Some thoughts:

- Don't have to pay divendends to shareholders anymore
- Less financial regulations
- Easier to secure (better) financing - probably the key one
- Longer term ENIC receive all the accumulation for their speculation (not just 85% of it)

 

[Graysonti]

Wouldn't make top 10 2 years ago (we were 11th).

http://en.wikipedia.org/wiki/Deloitte_Football_Money_League

Yes it would, that's in Euros fella !:wink:

 

[Narnill]

Yes it would, that's in Euros fella !:wink:

It would still make us 11th, even if we converted it to Euros.

 

[Stoof]

Not sure. Some thoughts:

- Don't have to pay divendends to shareholders anymore
- Less financial regulations
- Easier to secure (better) financing - probably the key one
- Longer term ENIC receive all the accumulation for their speculation (not just 85% of it)

AIM is very lightly regulated in comparison with the main market. Levy has stated that it's for funding reasons.

 

[Bigmandan]

Is that a prelude to selling to an oil sheikh?

When I was a journalist out in the Middle East back in '08/'09, Paul Barber came out there and was looking for Middle East money (officially naming rights for the NLDP - but honestly could have been more than that).

Now from what I understand - although never officially stated - one of the agents at the time told me that there was an absolute barrage of interest from the Saudi Arabians (who are football nuts just like the rest of the area).

You can imagine that interest will be x1000 now we're actually twice the side we were back then.

Issue was that when all of these investors did a bit of due diligence, they found out the Jewish connection and were never heard of again.

Long story short, don't hold your breath for an Oil Shaikh to come in and save us. A better bet is Bloomberg, I reckon...

 

[Dan Ashcroft]

When I was a journalist out in the Middle East back in '08/'09, Paul Barber came out there and was looking for Middle East money (officially naming rights for the NLDP - but honestly could have been more than that).

Now from what I understand - although never officially stated - one of the agents at the time told me that there was an absolute barrage of interest from the Saudi Arabians (who are football nuts just like the rest of the area).

You can imagine that interest will be x1000 now we're actually twice the side we were back then.

Issue was that when all of these investors did a bit of due diligence, they found out the Jewish connection and were never heard of again.

Long story short, don't hold your breath for an Oil Shaikh to come in and save us. A better bet is Bloomberg, I reckon...

Not sure how big an issue religion is in big business. Jews and Arabs worked together very closely in the changing ownership of Portsmouth for example.

We also have a good tradition of muslim players - Nayim was one of, if not the, first Arabs to play for a major English club, and we've taken a progressive attitude towards ramadan in recent times re the two Egyptians and Kanoute.

 

[wooderz]

So all the people that are currently share holders. What happens to them?

 

[Dan Ashcroft]

So all the people that are currently share holders. What happens to them?

There aren't really any left now ENIC own 85%. My uncle Michael is the only other major shareholder with 4%.

 

[PT]

I have one share left.

 

[MattyP]

So all the people that are currently share holders. What happens to them?

They are not allowed in any more.

Okay, they will be able to sell their shares to ENIC for no cost (i.e. no cost to the shareholders), the share certificates will be cancelled and returned to them as momento's if the former shareholders so wish.

I should probably register my share in my name now, unless it is already too late.