Some fans want their old tottenham back, but I for one am delighted that slowly we are getting a new tottenham.

Like it!!

Think one thing we can be pleased with Levy about is the way he has run THFC as a business!!

After a poor start to the season it seems as though we have been transformed in the media's eyes as the club we always knew...a club that has much potential and with new infastructure coming through and a debt record lower then any other team in the league are all set in the offfield department...Levy cant be faulted on his handling of Spurs' financial realm.

Why do we have debts?

Its probably largely down to how British business works. We finance through debt (loans) rather than equity (share-issues) because its cheaper. They do the opposite in European businesses which is why our clubs have more debt than our European counterparts.

£14.6m is nothing in debt, between Ars*, Chels & Man U they're over £1billion on debt.

How do they sleep at night? I panic when my Oyster card is empty

But why do we need the debt, especially if it's only 14 million, can't we just clear that and be in no debt? I don't get why we NEED the debt

In theory I suppose we could. But in practice it means as a business we'd have less "operating capital". IE: in the event we urgently needed to buy something expensive (paying off Comolli, Juande, Gus and Alvarez and paying £5m for Harry for example) we'll have cash there.

Plus some loans don't allow immediate repayments because it means the lender earns less in the long run as the interest that they make their profits from has less time to stack up.

I'm no fan of debt either, but we do need to have ready cash and this level is very manageable compared to Newcastle, Portsmouth, etc.

There's not much point comapring our debt to Chelsea's as theirs is irrelevant however big it is. It can all get swallowed by Roman if he wants.

We are most probably the most sensibly and best run club in the leage from a business perspective.

"Slowly we are getting a new Tottenham"? Err, we certainly have a new Tottenham, but I'm not sure how slow it's been. A week ago we had a Continental structure, with a Director of Football and Manager both from the continent working in tandem. This week we have an entirely new structure, but totally old school English structure with the ultimate English wheeler dealer English manager exclusively at the helm.

I'm not sure how you can possible paint that as slow progress. It is a complete volte face. Perhaps a warranted one, but hardly the measured progression you seem to infer it is.

wooderz, the answer to this question is a bit more complex and you can find it in any half decent corporate finance book, but basically(and OVERsimplified) : Until a certain amount, it is cheaper for a company to finance itself through debt, rather than through shares(which would be the other alternative). Basically, a company with some debt operates with lower financial costs.

The fact that we've reduced the value of our players by 37m, double what it was last year surely shows something about Comolli's transfers.

Not to the detriment of the first team though.Buying and selling players is part of running the club as a business,as is all the other activities we undertake.I am still not convinced by his arguments for some of the goings and non-comings of the summer,and wait to see his full response to the bungling of these matters.I want to see real ambition on the pitch first and foremost,with a team capable of winning the Premiership.Until he realises that there will be no success without high class players,and stops selling them,we will always fall short.To describe Harrys premiership record as outstanding is a bit of a concern.Fergusons record is outstanding,and that is the standard to aim for.Great ambition off the pitch,but lets keep our eye on the ball on it.

poorly presented announcement. probably because they have hansard as pr. jonathan wright is a good guy though. surprised market cap is at a discount to revenue and only just over two times profit. significant fall in profits though, and no mention of cash at bank. increase in amortisation - result of IFRS?

Sorry, but since when is that a good measure of a businesses value?