Levy's financial report:
http://www.tottenhamhotspur.com/uploads ... 161111.pdf
http://www.tottenhamhotspur.com/uploads ... 161111.pdf
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A financing package will need to include bank finance, enabling development and sponsorship. Quite clearly any significant, further investment by the Club would need to be in the context of a commitment by the public sector to undertake public infrastructure works in order to create the environment and confidence to commit further.These would include public sector improvements such as public space upgrades, improved public transport and public realm works, to be delivered in the surrounding area and to contribute to the general uplift of the borough, thereby creating an area in which the Club can justify an investment of hundreds of millions of pounds, secure funding and be a catalyst for further regenerative investment. We are continuing to hold positive and constructive discussions with local, regional and national government as we seek to move this scheme forward.
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We shall fully embrace the Europa League this season
We fully support the UEFA regulations alongside the Premier League’s view on Financial Fair Play and we shall be a test case in the run up to its implementation
The announcement of plans to 'de-list' the club from the Alternative Investment Market (AIM) came as Spurs revealed record revenues for the 2010-2011 season.
Thanks to Champions League football revenue rose almost £44m to £163.5m, with operating profits up 42 per cent to £32.3m.
The cost of maintaining a large squad for Europe saw costs rise sharply too however, up 35 per cent to £131.2m (2010: £97.1m). The club recorded a pre-tax profit of £400,000.
The intention to take the club private is the clearest indication yet that Spurs are pressing ahead with the Northumberland Park development next to White Hart Lane following their defeat in the Olympic Stadium bid. The move follows consultation with potential lenders and investors who suggested the club would have more flexibility if privately owned. Naming rights, possibly worth £150 million will be a crucial part of the funding package.
Tottenham need to raise £300-£350m to build the new stadium at Northumberland Park, much of which will come from borrowing.
Chairman Daniel Levy said this would be easier if they were privately owned.
"It is clear to us that increasing the capacity of the Club's stadium is a key factor in the continued development and success of the Club and will involve the Company in considerable additional capital expenditure," he said.
"Given this requirement, we believe that the AIM listing restricts our ability to secure funding for its future development. We are ambitious for the Club and have always taken the steps that we believe to be in its best interests."
The club's majority owners ENIC will now propose at the AGM on December 13 that the club be de-listed. ENIC owen 82 per cent of the shares with the remainder owned by 30,000 small shareholders who will be able to sell their shares at no cost if they wish.
paddygspur said:neaerly 24% drop in share price today fuck knows what that menas
http://www.bbc.co.uk/news/business/mark ... traday.stm
Sibs said:The trick seems to be to buy a club, bring it moderate success and then make your money when you sell it on.
drwinston001 said:Just out of interest, is £400k profit for that sort of turnover good? NO. Better than nothing but I've decided having looked at the figures not to get involved with buying the club from ENIC.
ArtyB said:paddygspur said:neaerly 24% drop in share price today fuck knows what that menas
http://www.bbc.co.uk/news/business/mark ... traday.stm
Everybody's selling up...
thedutchman said:Key figure is operating profit, which from memory (haven't looked since skimming over this morning) was c£30m
The bottom line profit before tax also includes player trading which isn't included in Operating Profit i.e. if we sold loads of players our Operating Profit wouldn't change (other than due to a decrease in the wage bill). It's effectively the same as a company making £30m and re-investing it in new premises, machinery etc.