Tottenham Takeover Talk

[HedgieSpur]

Imo £3.5bn - £4bn is “fair value”. Anything over that smacks of greed and prideful intransigence.

While it is common to keep Levy on as a consultant to the new regime, in practice his power would be eroded and he’d be increasingly marginalised with operational rather than strategic duties. In time, he’d simply fade away.

 

[Trix]

Imo £3.5bn - £4bn is “fair value”. Anything over that smacks of greed and prideful intransigence.

While it is common to keep Levy on as a consultant to the new regime, in practice his power would be eroded and he’d be increasingly marginalised with operational Esther than strategic duties. In time, he’d simply fade away.

What are you basing that opinion on?

 

[HedgieSpur]

What are you basing that opinion on?

We are very much a turnkey operation now (unlike Liverpool or Utd) and with the potential property developments and NFL/NBA/NHL/MLB franchises in the next 10-15 years (almost certainly starting with NFL) there’s significant scope to sweat the assets.

However, once one calibrates this for risk and carry cost, I think 3.5 is a fair number…. Anything over 4bn seems very toppy to me

EDIT: For context, I was at a Sports Capital conference in the US just before Xmas and much of the talk was about how US interest in the Premier League is with a view to establishing US sports franchises in the UK/Germany.

 

[Ravenyonaz]

I think it looks increasingly likely that it will happen. Lewis is clearly open to offers and is looking to retire (presumably).

Even though Lewis is open to sell (at the right price), it doesn't mean Levy wants to sell.

 

[Trix]

We are very much a turnkey operation now (unlike Liverpool or Utd) and with the potential property developments and NFL/NBA/NHL/MLB franchises in the next 10-15 years (almost certainly starting with NFL) there’s significant scope to sweat the assets.

However, once one calibrates this for risk and carry cost, I think 3.5 is a fair number…. Anything over 4bn seems very toppy to me

EDIT: For context, I was at a Sports Capital conference in the US just before Xmas and much of the talk was about how US interest in the Premier League is with a view to establishing US sports franchises in the UK/Germany.

Yes but you are only interested in a "fair" valuation if you are the buyer, or if you are actively looking to sell right now. If your asset is year on year appreciating and you don't need to sell why on earth would you do so for a "fair valuation"?

 

[SirNiNyHotspur]

It's sad but this is the only thread I really care about. They've had their time and have no clear plan now.

Yep new owners is the only way I can see us becoming successful. Invisible Joes ‘plan’ (latest kick the can down the road) seems to be wait on new ffp rules, what the new excuse will be after that anyones guess but ENIC always find one.

At the rate their going though best of the rest may well be mid table, we’re nearly at that point if Chelsea and Liverpool get their act together. You have Newcastle now as a soon to be challenger, could see West Ham getting taken over and added to that group, then you’re looking at 8th and intertoto being best of the rest, stadium so worth while failing and waiting for…

They just need to manage that pesky player acquisition better and they’ll have nice yearly profits, they can always ‘balance the books’ by adding to our great property cabinet… need ambitious FOOTBALL owners yesterday…

 

[Ravenyonaz]

It doesn't matter.... They paid £2.5b to aquire Chelsea FC with zero debt. That is the equivalent of paying £3.25b to aquire THFC with no debt.

If the debt was written off, it must then show as an income this current financial period, right? Does that then have an impact on the FFP position or are income like this exempt from FFP? This is the reason Chelsea can spend like mad?

 

[Hercules]

Please stop posting what outsiders and such like are saying. I said already QSI is factual, and not absolutely dead. This new information from ‘The Times’ is not fictitious. If you choose to believe bedtime stories, then go ahead. My opinion, the latest interest we should avoid.

 

[mil1lion]

What plan? They have no fucking plan.

We have a plan to have a plan

 

[HedgieSpur]

Yes but you are only interested in a "fair" valuation if you are the buyer, or if you are actively looking to sell right now. If your asset is year on year appreciating and you don't need to sell why on earth would you do so for a "fair valuation"?

Perhaps I should have used a different term. If you’re the seller £3.5bn represents a whopping 14,000 % return. YOY 16ish % that is incredible whichever way one looks at it. There are some potential sporting and financial headwinds on the horizon, so if I’m ENIC I wouldn’t necessarily bank on the value growing exponentially, at least not at the current rate.

So from an INVESTMENT perspective it makes sense to sell. As I said above, I can see stubbornness and pride getting in the way of their decision (“we want to show everyone that we were right and they were wrong”) but I cannot fathom why they would want to continue given what will inevitably be increasing levels of toxicity towards them and probably less success on the pitch.

 

[HildoSpur]

Even though Lewis is open to sell (at the right price), it doesn't mean Levy wants to sell.

Is it up to Levy?

 

[Trix]

Perhaps I should have used a different term. If you’re the seller £3.5bn represents a whopping 14,000 % return. YOY 16ish % that is incredible whichever way one looks at it. There are some potential sporting and financial headwinds on the horizon, so if I’m ENIC I wouldn’t necessarily bank on the value growing exponentially, at least not at the current rate.

So from an INVESTMENT perspective it makes sense to sell. As I said above, I can see stubbornness and pride getting in the way of their decision (“we want to show everyone that we were right and they were wrong”) but I cannot fathom why they would want to continue given what will inevitably be increasing levels of toxicity towards them and probably less success on the pitch.

Yeah but again those numbers are only relevant if you want to sell. As for it making sense to sell, why are so many very experienced and successful business people apparently interested in taking big football clubs still now at their current valuations with so many uncertainties around the corner?

 

[neilp]

Is it up to Levy?

No, Lewis can buy his shares out if he wants to.

 

[PLTuck]

People need to look at the FT article before getting too excited.

The reason we are attractive to this guy is the exact same reason everyone wants Levy out. The property portfolio.

Careful what you wish for.

I usually ignore ratings but in this case I'd like to know the reasoning behind the funnies. The FT article literally states that the interest is largely driven by the access to the huge property portfolio which requires owner status.

Or is the article right about everything else, but not the bit you don't want to hear?

 

[Ravenyonaz]

Perhaps I should have used a different term. If you’re the seller £3.5bn represents a whopping 14,000 % return. YOY 16ish % that is incredible whichever way one looks at it. There are some potential sporting and financial headwinds on the horizon, so if I’m ENIC I wouldn’t necessarily bank on the value growing exponentially, at least not at the current rate.

So from an INVESTMENT perspective it makes sense to sell. As I said above, I can see stubbornness and pride getting in the way of their decision (“we want to show everyone that we were right and they were wrong”) but I cannot fathom why they would want to continue given what will inevitably be increasing levels of toxicity towards them and probably less success on the pitch.

The owners know that we are in an incredible position to tackle those headwinds. That can in turn become a game changer!

 

[mil1lion]

chunky was itk back in the naybet days

He was 4 fingered too

 

[Bluto Blutarsky]

I usually ignore ratings but in this case I'd like to know the reasoning behind the funnies. The FT article literally states that the interest is largely driven by the access to the huge property portfolio which requires owner status.

Or is the article right about everything else, but not the bit you don't want to hear?

This particular group - MSP Sports Capital - is primarily invested in sports teams/leagues.

The article does not say the interest is driven "largely" by property development.

"The Najafi-led group’s interest in the football club extends to real estate and development rights that are available through its ownership, one of the people said."

In conjunction with the interest by MSP Sports Capital - that reads that the property development potential is ancillary to the team ownership. Add in that the bid would include 30% ownership by Qataris, and it looks like the Qataris could take the lead on the property development.


Certainly one aspect of the value proposition in buying THFC is the property development - but nothing suggests this particular group is focused primarily on that aspect.

 

[Trent Crimm]

I think he does and as for Viv, looks like she just dislikes Daniel more than she's interested in the club tbh and that is her motivation to get him gone.

She sounds hot. Got a pic??

 

[Wick3d]

I think he does and as for Viv, looks like she just dislikes Daniel more than she's interested in the club tbh and that is her motivation to get him gone.

She probably sees daddy giving Levy more attention and treating him like his preferred child. I imagine that would irritate anyone

 

[PLTuck]

This particular group - MSP Sports Capital - is primarily invested in sports teams/leagues.

The article does not say the interest is driven "largely" by property development.

"The Najafi-led group’s interest in the football club extends to real estate and development rights that are available through its ownership, one of the people said."

In conjunction with the interest by MSP Sports Capital - that reads that the property development potential is ancillary to the team ownership. Add in that the bid would include 30% ownership by Qataris, and it looks like the Qataris could take the lead on the property development.


Certainly one aspect of the value proposition in buying THFC is the property development - but nothing suggests this particular group is focused primarily on that aspect.

Thanks for responding as it was a genuine question, I wasnt trying to goad.

I think my concern is that everyone seems to just assume any new owners will be transformative in a good way. They could just as easily be Levy 2.0, or worse.