Tottenham Finances Under Enic

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Dannyboy

Dannyboy

I'm having a bit of a chat with a mate of mine who suspects that Levy is sat on a fortune of unspent funds due to his lack of footballing knowledge. Whether true or not is somewhat neither here nor there; I have been trying to find information detailing what the club has made under Enic and spent (players, facilities, merchandise etc- basically as close to dammit the +/- of Tottenham under Levy/Enic....I don't suppose anyone has any recommended sites as I'm sifting through pages that aren't quite right.

Thanks.
 
We're a public company that publish accounts at the end of every year, i'm sure you can quite easily find some net profit figures through Google? Or are you looking for more in-depth and specific details, if so try chucking a message to the Supporters Trust, they've probably got records too..
 
Dannyboy said:
I'm having a bit of a chat with a mate of mine who suspects that Levy is sat on a fortune of unspent funds due to his lack of footballing knowledge. Whether true or not is somewhat neither here nor there; I have been trying to find information detailing what the club has made under Enic and spent (players, facilities, merchandise etc- basically as close to dammit the +/- of Tottenham under Levy/Enic....I don't suppose anyone has any recommended sites as I'm sifting through pages that aren't quite right.

Thanks.
Click to expand...

http://www.tottenhamhotspur.com/upl...cuments/Annual_Reports/annual-report-2013.pdf
 
Cheers, just been going through those, was hoping for a more black and white 'money spent, money earned' for the dimmer folk, such as myself!

Never mind...
 
Dannyboy said:
I'm having a bit of a chat with a mate of mine who suspects that Levy is sat on a fortune of unspent funds due to his lack of footballing knowledge. Whether true or not is somewhat neither here nor there; I have been trying to find information detailing what the club has made under Enic and spent (players, facilities, merchandise etc- basically as close to dammit the +/- of Tottenham under Levy/Enic....I don't suppose anyone has any recommended sites as I'm sifting through pages that aren't quite right.

Thanks.
Click to expand...

Lack of Footballing Knowledge?

I'm quite sure Levy has been a Season Ticket holder for longer than most, to be honest. I'd say he's got just as much football knowledge as the next man, to be fair, it's just balanced with financial aptitude.

As for a pot of money, your mate must be forgetting the giant patch of North London we've been buying over the last 10 years and the 77 acre brand spanking new training ground in Enfield.


Plus Adebayor's wages
:troll:
 
Dannyboy said:
Cheers, just been going through those, was hoping for a more black and white 'money spent, money earned' for the dimmer folk, such as myself!

Never mind...
Click to expand...


I don't think it exists - football clubs accounts all seem to be works of fiction in some respects to me.

Notional player amortisation can make clubs look like they are making millions in profit when they aren't.
 
Not being familiar with football(or sports in general) accounting, sounds like Intangible Assets are the players' values ("Intangible Assets have risen...due to significant purchases of players such as..").

If that's the case, then it's interesting that our intangible assets were 128.4M in 2009 and are 73.2 in 2013.
Bye bye bale, modric...

Someone correct me if misinterpreted this
 
Simple answer: We're fairly well off.

Complex answer: Only in football could people take that to mean that the club has been poorly managed.
 
Deconstructing accounts isn't easy unless you're a specialist. If someone suspects that the club have a stack of 'unspent cash' they'd have to give some evidence of this, and why it would be so.

For example who would know bar those directly 'ITK' (directors, auditors) how the club are 'dividing' money spent on players, on the new stadium, training ground, etc.

For example,AFAIK, it's a matter of public record that Spurs (ENIC) are 'creating' at least one other company, probably more to buy up property in Tottenham. There is also the aspect of taxation, it can be that money is spent rather than taxed, I only know enough about accounts and company financing to know it's a complex matter. But much can be learned from studying the club's accounts for sure.

My understanding is over the last few years we've been running at about 'break even' sometimes making small losses, sometimes small profits. I think ENIC gave the club a £40m loan this year in the form of equity, but that is being used for the new stadium.

I may be well wrong in what I say incidentally, just going from an ageing memory :)
 
GloryGlory said:
Not being familiar with football(or sports in general) accounting, sounds like Intangible Assets are the players' values ("Intangible Assets have risen...due to significant purchases of players such as..").

If that's the case, then it's interesting that our intangible assets were 128.4M in 2009 and are 73.2 in 2013.
Bye bye bale, modric...

Someone correct me if misinterpreted this
Click to expand...
I agree players probably come under intangible assets, but so I believe do things like 'goodwill', 'brand value' and various other concepts.
I would imagine our tangible assets have risen with the property acquisitions and training ground, but haven't studies our accounts recently.
 
Dannyboy said:
Cheers, just been going through those, was hoping for a more black and white 'money spent, money earned' for the dimmer folk, such as myself!

Never mind...
Click to expand...
HI Danny, trust me so many oppo fans embarrass themselves when they talk about our finances (I'm not talking about your mate BTW, as I know not what he's driving at) As usual West Ham fans are the worst, the amount of garbage I've read from Hammers over the years who think they understand our finances, but clearly have never read our accounts, nor indeed a mathematics book in their entire lives.

The best stuff was over their 'beloved 'Arry'. The amount of Hammers who said that Redknapp would bankrupt us was absolutely laughable. They forgot not only our finances are far superior to theirs, but in Levy we have a chairman who takes a keen interest in them, and wouldn't let any manager, be it Redknapp, Hoddle, Poch, whoever, destroy our clubs' finances.

Not that I'm suggesting Harry would anyway BTW, that was mainly coming from the oppo fans, particularly Hammers.
 
Being a casual observer of the accs over last few yrs without knowing connection to other ENIC subsidiaries makes it hard to get the full picture.
However, the football club doesn't make a cmmercial return atm. The investment into training field/stadium and property may be where the real upside is in yrs to come - partly explains the importance of getting Govt funding for Tottenham infrastructure & housing.
On the playing side be mindful of the player sales/purchases across Year End dates eg Bale sale relates to Fin Yr 13/14 not 12/13. We reported a small profit in 12/13.
Player trading profit is likely to be big in 13/14 but from memory we have loans maturing - to be settled or rolled over ? Regardless Levy needs to conscious of cash flow.
I agree with an earlier comment, last few yrs we been around breakeven - only add to that Levy has looked to pay down debt and tightly control the capital expenditure. I expect much the same for next few yrs (subject to one off external contributions/benefactors).
 
VirginiaSpur said:
Simple answer: We're fairly well off.

Complex answer: Only in football could people take that to mean that the club has been poorly managed.
Click to expand...

I don't think he is saying we are poorly managed, just that we don't spend the money made from sales, CL money and Sky money...I have begged to differ, and explained the cost of our new training facility, the sums spent acquiring land around the stadium, architect fees, rise in wages, money spent on players....but he thinks we have X amount just sitting there...
 
GloryGlory said:
Not being familiar with football(or sports in general) accounting, sounds like Intangible Assets are the players' values ("Intangible Assets have risen...due to significant purchases of players such as..").

If that's the case, then it's interesting that our intangible assets were 128.4M in 2009 and are 73.2 in 2013.
Bye bye bale, modric...

Someone correct me if misinterpreted this
Click to expand...


When you sign a player they are in the book at 100% of their transfer value - over a 4 year contract they depreciate by 25% per year, for example.

2007 - 2009 was a period of heavy transfer spending, 2010 - 2012 wasn't.

By the time Bale left after 6-7 years at the club his initial £8m transfer value would have been depreciated down to virtually nothing...........that's why the accounts don't really mean a lot, his market value was £85m......his book value was probably less than £800k
 
Dannyboy said:
I don't think he is saying we are poorly managed, just that we don't spend the money made from sales, CL money and Sky money...I have begged to differ, and explained the cost of our new training facility, the sums spent acquiring land around the stadium, architect fees, rise in wages, money spent on players....but he thinks we have X amount just sitting there...
Click to expand...
Well, again he has to get to grips with the accounts to prove that, and good luck with him on that. As I say deconstructing accounts is a tricky business, if he can find just where this money is sitting, then please let us know via him. I trust he is sufficiently sophisticated to realise it's not Levy's money, but AFAIK it is a company's (THFC) which is part of a larger company (ENIC).

Is it likely for one second that people like Levy and Lewis will just be leaving money 'sitting there'.

I would expect them to be 'sweating their assets' left right and centre :)
 
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