BujuBanton
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- Aug 31, 2012
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Collectively punt him down the high road
Tottenham Takeover Talk
- Thread starter Bluto Blutarsky
- Start date
Collectively punt him down the high road
Tezza1978
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- Jun 3, 2021
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In many ways despite our on the pitch troubles we are extremely appealing for investors - world class stadium, no naming rights sold yet, in London, Heavyweight World Championship fights and venue of gigs of the world's biggest artists, NFL games and possibility of an NFL team moving here. Not to mention scope to add massively more value by the team by actually winning things in the future.....
fecka
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- Jun 24, 2013
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Oh, I understand that perfectly fine.
What I'm trying to say is that the Chelsea sale has some quirks that make it difficult to use the 2.5bn equity value alone as a metric due to the forced sale. A massive debt was written off by Abramovich and instead replaced by a commitment to invest 1.75bn as a condition to buy, and hence it's not unreasonable for THFC to value its equity at a lot more than 2.5bn.
Stuart Leathercock
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- Jul 20, 2021
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It's pretty standard for the most senior directors to stay on for a period post a business being sold. Most purchasers write it into the terms of the sale to ensure a smooth transition.
THFCSPURS19
The Speaker of the Transfer Rumours Forum
- Jan 6, 2013
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Probably more United related?
Stuart Leathercock
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But Chelsea's equity was not valued at more than £2.5b. It was valued at exactly £2.5b. Maybe the number of bidders indicated that this price was too low but the value of equity and commitments to invest are completely separate things. I would love ENIC to sell the club to new owners including a commitment to invest a large amount in the sale terms. However I suspect that they're really only interested in the bottom line for themselves.
DOABFF
Director of anything but facking football
fecka
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- Jun 24, 2013
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And one of the reasons for that was their lack of assets, and that the sale was forced. It's not unreasonable for THFC to value its equity a lot higher than that.
Bluto Blutarsky
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- Mar 4, 2021
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And, its not just the stadium... its also all of the surrounding property that ENIC own and can develop, and the hotel rights, etc...
Stuart Leathercock
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- Jul 20, 2021
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I agree in terms of the forced sale but less so the assets. We have spent a fortune on a new stadium so have capitalised the spend on that asset. That doesn't mean it can just be sold off... and if it was sold off it wouldn't be at anywhere near the actual asset value (it isn't worth anywhere near as much as anything other than a sports stadium).
The assets both clubs own are to there simply to facilitate a football team. The revenues from both clubs are reasonably similar (though Chelsea's higher in 9 of the last 10 years).
rossdapep
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- Aug 25, 2011
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It is. But Levy does come across as a 'control-freak' because this project has been HIS vision and he continuously talks about being a guardian.
What happens if the investors/owners start to do things he doesn't agree with?
Stuart Leathercock
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- Jul 20, 2021
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ENIC or THFC? Most of the property around the stadium was sold at 'fair value' by THFC to another company owned by ENIC. The club still retain a development opportunity on the south podium but at present it is isn't deemed financially viable to develop that. The property aspects of what THFC owns really isn't worth a great deal in the scheme of the £3b valuation.
fecka
Well-Known Member
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I'd argue that the hotels and other properties around the stadium owned by the club aren't there to facilitate a football team.
From an investor's POV, there's a lot to work with in terms of generating not only revenue but property- and commercial value at Spurs, and while the stadium might have a lower asset value from an accountant's POV, it has a massive value from an investor's.
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JW72
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- Jan 29, 2011
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If they are owners, they can sack him.
Bobbins
SC's 14th Sexiest Male 2008
- May 5, 2005
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Disagree.
Bid will be for Tottenham not ENIC.
Anything owned outside of the books of Tottenham Hotspur FC and it’s subsidiaries will be out of scope, and the “planning permission” has no significant value
RuskyM
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- Jul 9, 2011
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Having people with no footballing experience would be worse than having Levy for a while longer imo. Ideally you’d have someone with experience who won’t Levy it but ideally we’d have won the Champions League in 2019 and I’d still be on a bender.
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