Levy / ENIC

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Not sure if people have ever checked out the excellent "Swiss Ramble" blog before:

http://swissramble.blogspot.de/

It’s a blog is a mainly focused on high level analysis of various football clubs financial practices and performances.

They haven’t looked at Spurs specifically for a few years now, and I’m not going to lie and say that I understand all of what they post entirely, but if anyone needed a visual indication of where we stand against our competition then please cast your eyes below:

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20%2BLiverpool%2BWages%2BGrowth%2B2014.jpg


Now football is a money game first and foremost, anyone who thinks it isn't is kidding themselves. Although I am as guilty as most for holding on to the romantic notion that the exceptional can happen and occasionally a fairy story does occur when a small club triumphs against adversity. BUT over the course of time the almighty dollar will ALWAYS prevail.

I'm not saying that I disagree with the way our football club is being run either, financial security and a new stadium on the way, Levy is certainly trying to do his best to increase the clubs position and allow us to compete commercially. Maybe there is an argument that he errs on the side of caution too much, but as I've said on here before it’s very easy to be a back seat chairman without all of the information in front of you.

There are probably some who would see success at any cost, I certainly take some (little) satisfaction from the knowledge that we buck the trend of paying footballers ridiculous sums of money (Not that £70K a week isn't a ridiculous sum of money, but in comparison to £250 - 300K a week?). Combine that with the trend of seeing a number of young home grown, mostly English, players excelling in the first team. It gives you something to hold on to at least.

Yes, it is frustrating to see us come up short against those that we perceive to be our direct rivals season after season. However people need to consider that it’s not all that long ago that we were competing with the Everton’s, Newcastle’s and Villas of this world and a top half of the table finish, a decent cup run and a home win against the nomads was considered a pretty good season for us.

In my eyes we're not overachieving, but we're not underachieving either.
Every year we make top-5 or better, it's broadly an over-achievement by that criteria.

Wage spend vs. points achieved is a weak measure of success, just because not all clubs are rational in their wage structures (you can see Chelsea, then City and now Utd's overspending pretty clearly in the second chart).

Still, broadly speaking, we're doing well, and at least trying to compete. There are a lot of clubs who should be fighting alongside us, but who aren't well run enough to do anything more than stagger between 15th and 8th or so every year.
 
It's easy to point the finger at Levy, but he's doing a quality job and in five years time we'll look back on these years and laugh. He's setting the club up for the future; after the development and stadium has been built we'll be bringing in an additional £50m-£75m every year. Short term, a lot of that will go to paying off loans etc. But in the future that's money that will be used of improving facilities, player wages, transfers etc... We'll be able to compete financially with the 'big' clubs. That usually correlates with success on the pitch, which results in better sponsorship deals and a larger global fan base.

I don't want Spurs to turn into a fake club that buys success. But the beauty of this is that Spurs haven't had a sugar daddy or oil tycoon pouring shit tons of cash into the club - getting money out of Levy and Lewis was like getting semen out of a stone. We're doing it the long, sustainable way and now that clubs can't go out an make heavy losses, it's the sustainable clubs that are going to succeed in the future. I'm more than happy to wait a bit longer for the glory days. I'm just enjoying the ride.
 
14 years and one tin pot and still people believe in a man who gets paid 2.3M a year to balance the books. We cant even fill the stadium we have thanks to the lack of success and disappointment. apparently -see above - we will get another 50M a year from the new stadium -if it ever gets supported by the banks-just getting 4th gets you 40 million. Plus for those that don't know, The Academy is built on a loan against the club - it will take years to pay it back. Levy = wanker.
 
It's easy to point the finger at Levy, but he's doing a quality job and in five years time we'll look back on these years and laugh. He's setting the club up for the future; after the development and stadium has been built we'll be bringing in an additional £50m-£75m every year. Short term, a lot of that will go to paying off loans etc. But in the future that's money that will be used of improving facilities, player wages, transfers etc... We'll be able to compete financially with the 'big' clubs. That usually correlates with success on the pitch, which results in better sponsorship deals and a larger global fan base.

I don't want Spurs to turn into a fake club that buys success. But the beauty of this is that Spurs haven't had a sugar daddy or oil tycoon pouring shit tons of cash into the club - getting money out of Levy and Lewis was like getting semen out of a stone. We're doing it the long, sustainable way and now that clubs can't go out an make heavy losses, it's the sustainable clubs that are going to succeed in the future. I'm more than happy to wait a bit longer for the glory days. I'm just enjoying the ride.
Well we'll see what happens over the next few years. For me Levy/ENIC are NOT doing a quality job. Our worst trophy haul since the 1930s is not a mark of quality in my eyes.

We may do better some time in the future, we'll see. We might do worse.
 
Didn't really know where this would fit, so I just decided to post it here. I've had some time on my hands and wanted to compare the fees of the players in the top clubs with the fees Spurs have paid for the starting line-ups (all values in €). For example, Sunderland, who played with Pantilimon (3.3 m); Reveillere (0 m), O'Shea (4.5 m), Brown (1.5 m), van Aanholt (2 m); Bridcutt (3.5 m), Rodwell (12.6 m), Larsson (0 m), Alvarez (1 m loan); Defoe (swap with Altidore), Fletcher (15.2 m) last week, have been bought for 43.6 million in total (fees are from Transfermarkt).

I've calculated the total of our team last week against Utd., which I see as our currently best line-up. Lloris (12.6 m); Walker (6 m), Dier (5 m), Vertonghen (12.5 m), Rose (1 m); Mason (0 m), Bentaleb (0 m); Chadli (8 m), Eriksen (13.5 m), Townsend (0 m); Kane (0 m). Sums up to 58.6 of player fees. Now we know, we have payed alot more for the likes of Lamela and Soldado, but, let's compare this with the top teams. I will just post the total amount of payments, otherwise this will get too long.

Take the Top 5 - Chelsea, City, Scum, United and Pool (line-ups from gameweek 29)

Chelsea - 234.5 m
City - 231.6 m
Woolwich - 180.4 m
United - 280.1 m (without di Maria)
Pool - 163.3 m

I just wanted to post this, since some people don't see this season as a progress and are still criticising Levy. We are actually doing really well comparing to the others. Now, it's not just that we have the cheapest squad in terms of player fees in the top 7 of the Premier League, it is the youngest this season and Levy also manages to keep our wages reasonable. Yes, we are (currently) 6 points behind a CL spot, but Poch and Levy have done some great work since Paulinho and Chiriches have been bought.

And even if Tim has been a complete cunt, he did state that Levy is trying to do his best for this club. It might not always be right, but he is trying to gain that top 4 finish on a reasonable basis. Not by spending 200 million a season + wages. I don't know if you have learned from the transfer summer 12/13, but Levy is not going to make the same mistake as last season. He will take the a good amount of money, I hope he will sit down with Poch (and Baldini possibly) and really go for the players we need and fit our style of play. Nothing like Chiriches or Paulinho again.

Also, it seems like Vertonghen is going to leave this season if we miss out on his beloved CL football. According to media, we have went with Wimmer for a fee of 10 million. Now this is reasonable - I have already said that Wimmer is quite unexperienced yet and young, but he has all the right "attributes" for the Premier League. Left-footed, quick, strong, talented and willing.

United has been looking for a new leftback, and they went for Luke Shaw. Seemed great at the start of the season! Young english boy, alot of potential - but he still cost 37.5 million and is injured regularly. The only side who has made a real profit from this is Southampton. And this is just one example among those top 5 clubs. Fernandinho, Willian, Lovren, Debuchy... the list goes on.

I understand some of the criticism around Levy, but in my opinion, he is the right man at Tottenham. Besides all this - he also managed to sell a certain Gareth Bale to Real Madrid, for a 100 million euros. And with Poch relying on the youth players, he has made the right choice choosing the coach.
 
Didn't really know where this would fit, so I just decided to post it here. I've had some time on my hands and wanted to compare the fees of the players in the top clubs with the fees Spurs have paid for the starting line-ups (all values in €). For example, Sunderland, who played with Pantilimon (3.3 m); Reveillere (0 m), O'Shea (4.5 m), Brown (1.5 m), van Aanholt (2 m); Bridcutt (3.5 m), Rodwell (12.6 m), Larsson (0 m), Alvarez (1 m loan); Defoe (swap with Altidore), Fletcher (15.2 m) last week, have been bought for 43.6 million in total (fees are from Transfermarkt).

I've calculated the total of our team last week against Utd., which I see as our currently best line-up. Lloris (12.6 m); Walker (6 m), Dier (5 m), Vertonghen (12.5 m), Rose (1 m); Mason (0 m), Bentaleb (0 m); Chadli (8 m), Eriksen (13.5 m), Townsend (0 m); Kane (0 m). Sums up to 58.6 of player fees. Now we know, we have payed alot more for the likes of Lamela and Soldado, but, let's compare this with the top teams. I will just post the total amount of payments, otherwise this will get too long.

Take the Top 5 - Chelsea, City, Scum, United and Pool (line-ups from gameweek 29)

Chelsea - 234.5 m
City - 231.6 m
Woolwich - 180.4 m
United - 280.1 m (without di Maria)
Pool - 163.3 m

I just wanted to post this, since some people don't see this season as a progress and are still criticising Levy. We are actually doing really well comparing to the others. Now, it's not just that we have the cheapest squad in terms of player fees in the top 7 of the Premier League, it is the youngest this season and Levy also manages to keep our wages reasonable. Yes, we are (currently) 6 points behind a CL spot, but Poch and Levy have done some great work since Paulinho and Chiriches have been bought.

And even if Tim has been a complete cunt, he did state that Levy is trying to do his best for this club. It might not always be right, but he is trying to gain that top 4 finish on a reasonable basis. Not by spending 200 million a season + wages. I don't know if you have learned from the transfer summer 12/13, but Levy is not going to make the same mistake as last season. He will take the a good amount of money, I hope he will sit down with Poch (and Baldini possibly) and really go for the players we need and fit our style of play. Nothing like Chiriches or Paulinho again.

Also, it seems like Vertonghen is going to leave this season if we miss out on his beloved CL football. According to media, we have went with Wimmer for a fee of 10 million. Now this is reasonable - I have already said that Wimmer is quite unexperienced yet and young, but he has all the right "attributes" for the Premier League. Left-footed, quick, strong, talented and willing.

United has been looking for a new leftback, and they went for Luke Shaw. Seemed great at the start of the season! Young english boy, alot of potential - but he still cost 37.5 million and is injured regularly. The only side who has made a real profit from this is Southampton. And this is just one example among those top 5 clubs. Fernandinho, Willian, Lovren, Debuchy... the list goes on.

I understand some of the criticism around Levy, but in my opinion, he is the right man at Tottenham. Besides all this - he also managed to sell a certain Gareth Bale to Real Madrid, for a 100 million euros. And with Poch relying on the youth players, he has made the right choice choosing the coach.
Transfer fees have been shown to have no correlation to points totals or finishing position. Wages on the other hand...
 
Didn't really know where this would fit, so I just decided to post it here. I've had some time on my hands and wanted to compare the fees of the players in the top clubs with the fees Spurs have paid for the starting line-ups (all values in €). For example, Sunderland, who played with Pantilimon (3.3 m); Reveillere (0 m), O'Shea (4.5 m), Brown (1.5 m), van Aanholt (2 m); Bridcutt (3.5 m), Rodwell (12.6 m), Larsson (0 m), Alvarez (1 m loan); Defoe (swap with Altidore), Fletcher (15.2 m) last week, have been bought for 43.6 million in total (fees are from Transfermarkt).

I've calculated the total of our team last week against Utd., which I see as our currently best line-up. Lloris (12.6 m); Walker (6 m), Dier (5 m), Vertonghen (12.5 m), Rose (1 m); Mason (0 m), Bentaleb (0 m); Chadli (8 m), Eriksen (13.5 m), Townsend (0 m); Kane (0 m). Sums up to 58.6 of player fees. Now we know, we have payed alot more for the likes of Lamela and Soldado, but, let's compare this with the top teams. I will just post the total amount of payments, otherwise this will get too long.

Take the Top 5 - Chelsea, City, Scum, United and Pool (line-ups from gameweek 29)

Chelsea - 234.5 m
City - 231.6 m
Woolwich - 180.4 m
United - 280.1 m (without di Maria)
Pool - 163.3 m

I just wanted to post this, since some people don't see this season as a progress and are still criticising Levy. We are actually doing really well comparing to the others. Now, it's not just that we have the cheapest squad in terms of player fees in the top 7 of the Premier League, it is the youngest this season and Levy also manages to keep our wages reasonable. Yes, we are (currently) 6 points behind a CL spot, but Poch and Levy have done some great work since Paulinho and Chiriches have been bought.

And even if Tim has been a complete cunt, he did state that Levy is trying to do his best for this club. It might not always be right, but he is trying to gain that top 4 finish on a reasonable basis. Not by spending 200 million a season + wages. I don't know if you have learned from the transfer summer 12/13, but Levy is not going to make the same mistake as last season. He will take the a good amount of money, I hope he will sit down with Poch (and Baldini possibly) and really go for the players we need and fit our style of play. Nothing like Chiriches or Paulinho again.

Also, it seems like Vertonghen is going to leave this season if we miss out on his beloved CL football. According to media, we have went with Wimmer for a fee of 10 million. Now this is reasonable - I have already said that Wimmer is quite unexperienced yet and young, but he has all the right "attributes" for the Premier League. Left-footed, quick, strong, talented and willing.

United has been looking for a new leftback, and they went for Luke Shaw. Seemed great at the start of the season! Young english boy, alot of potential - but he still cost 37.5 million and is injured regularly. The only side who has made a real profit from this is Southampton. And this is just one example among those top 5 clubs. Fernandinho, Willian, Lovren, Debuchy... the list goes on.

I understand some of the criticism around Levy, but in my opinion, he is the right man at Tottenham. Besides all this - he also managed to sell a certain Gareth Bale to Real Madrid, for a 100 million euros. And with Poch relying on the youth players, he has made the right choice choosing the coach.
Great work.

I think its also interesting that the sale value of our first 11 is huge. Were we to sell, players like lloris and eriksen would be going for 3X what they were bought for. Kane is worth £15million at the very least right now and that could double if he has another season like this one. Mason is surely worth more than the 8million we got for livermore, and bentaleb must be more than that.
 
A good set of results off the pitch, can not fault the board for that, I still remember Scholar......
Be nice to have some success on the pitch, this board has consistenly meddled with managers, hired the wrong ones, they now need to back the current one and give him time to build the side he wants......
 
A good set of results off the pitch, can not fault the board for that, I still remember Scholar......
Be nice to have some success on the pitch, this board has consistenly meddled with managers, hired the wrong ones, they now need to back the current one and give him time to build the side he wants......

Yeh if he does and we get results on the pitch it will improve profits as well. How badly have as a club we been hurt by going from manager to manager and constantly rebuilding, we need a manager we can trust and players from top to bottom that can work with his methods, right now half the team don't look suited to what Poch wants.
 
Agree, we had a taste of the Champions league, then had some shitty luck the following season and as supporters we had a collective hangover from that, that hangover seems to be clearing now, I still think Poch needs another season and couple of transfer windows before he has the squad he wants.......
 
I love the plans for chigwell lodge. I know the autism school is the cherry to get the 60 houses built but it is a universal benefit to the community never the less. Don't often say this but we'll played levy.
Player accommodation next to the training centre is a brilliant idea too. Kind of like La Masia - effectively a live-in Academy for the young players. Don't know why the club hasn't publicised this more!
 
Re the results, I don't understand why, according to a 'club spokesman' our relevant player purchases for the period wouldn't be included in the results.

I can only see the Standard carrying this spin on the results, and wonder if they have got mixed up on this.
http://www.standard.co.uk/sport/foo...sees-tottenhams-profits-hit-65m-10138541.html

Given we made a profit on which we presumably pay tax, why would we artificially inflate the profit and therefore tax bill? Not only that, I'm not at all clear it's even allowed to do what the Standard article suggests we have done.

Very mystifying. I'm going to take it the article is wrong ATM, and treat the profit figures as including the player purchases of Soldado, Lamela, etc, till I hear it confirmed otherwise from the club.

Overall it's an excellent set of results AFAIC. I'm not sure whether ENIC gave us the £40m to clear our debts in the form of a share issue, or it was a straight gift. It certainly transformed us from a club in debt to a club with a positive net funds status.
 
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The Evening Standards quality reporting has been dipping and dipping and dipping, it's mostly just rehashed Daily Mail reports with very little fresh everyday. So it's no surprise they spin the negatives via lazy reporting without actually reading the full statement from the club. Also given the owner of the paper is an Ex KGB Russian Oligarch ( spelling ? ) I doubt there is much drive to positively spin Spurs stories.....
 
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Re the results, I don't understand why, according to a 'club spokesman' our relevant player purchases for the period wouldn't be included in the results.

I can only see the Standard carrying this spin on the results, and wonder if they have got mixed up on this.
http://www.standard.co.uk/sport/foo...sees-tottenhams-profits-hit-65m-10138541.html

Given we made a profit on which we presumably pay tax, why would we artificially inflate the profit and therefore tax bill? Not only that, I'm not at all clear it's even allowed to do what the Standard article suggests we have done.

Very mystifying. I'm going to take it the article is wrong ATM, and treat the profit figures as including the player purchases of Soldado, Lamela, etc, till I hear it confirmed otherwise from the club.

Overall it's an excellent set of results AFAIC. I'm not sure whether ENIC gave us the £40m to clear our debts in the form of a share issue, or it was a straight gift. It certainly transformed us from a club in debt to a club with a positive net funds status.
I think the 40 million was the amount later converted into share capital, and it essentially covered the training centre.

The Swiss Ramble is a blog/twitter account from a football fan/investment banker who takes a considerably more detailed look at these numbers than the papers can. It will be interesting to hear his take.
 
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