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ok seriously though, I always thought that one billion budget was to cover the hotels and apartments as well as the training lodge.
Also is it "estimated valuation" or actual cash spend?
So we turned a profit despite spending 1billion on a stadium? How the fuck did we do that?
Also surely this is fantastic for the future of the club surely the initial outlay will be bigger then and payment on the schedule to pay back? So this should mean we will have the wonga we need in the summer
Also surely this is fantastic for the future of the club surely the initial outlay will be bigger then and payment on the schedule to pay back? So this should mean we will have the wonga we need in the summer
I think this has been engineered towards what the banks want to see when lending us the money. The purpose of spending +£1b is to increase the revenue stream of the Club (all clubs have limited means of doing this, PL/TV/Media+Commercial+Match-day+retail+maybe property & events), this is also important for the financiers, however, it does require a huge leap of faith from them to loan the money but this money will fly out of their pockets if they can also see a healthy business who are turning in record profits.
So the club under Levy's guidance makes a WORLD RECORD operating profit and he takes a £3m wage for the year, half of what he did the following year when you take away the Stadium bonus, a project that he's been working on for 18 years.
Can people please now stop the bollocks about him earning £6m a year. It's daft! If you cannot see what Levy has done with a club that was nowhere near the elite teams then you know very little about someone getting the correct rewards for their workings in life.
These profits come the summer before we chose not to spend. Matchday revenue will be down due to ticket refunds/ Wembley situations but it'll still be up there or similar next year, especially if we turn City over in the Champions League.
Not enough people say it because it doesn't suit their agendas. Swallow it and say well done Levy & co. A world record broken financially for any football club ever is a real feather in their caps. Like it or not we should be hugely proud as it's yet another stepping stone towards getting our great club back to where we all want it to be and where it belongs.
His wage is £3m not £6m as many moaned about. Draw a line underneath all of that talk now.
Can people please now stop the bollocks about him earning £6m a year. It's daft! If you cannot see what Levy has done with a club that was nowhere near the elite teams then you know very little about someone getting the correct rewards for their workings in life.
These profits come the summer before we chose not to spend. Matchday revenue will be down due to ticket refunds/ Wembley situations but it'll still be up there or similar next year, especially if we turn City over in the Champions League.
Not enough people say it because it doesn't suit their agendas. Swallow it and say well done Levy & co. A world record broken financially for any football club ever is a real feather in their caps. Like it or not we should be hugely proud as it's yet another stepping stone towards getting our great club back to where we all want it to be and where it belongs.
His wage is £3m not £6m as many moaned about. Draw a line underneath all of that talk now.
Spurs smashing the wage war. West Ham surpsingly stable, 8 teams in the country over the danger line of 70% that UEFA recommend for wage spending.
Crystal Palace, Everton & Bournemouth being reckless and impatient. Stoke, West Brom & Swansea all in the shit. I think the below shows why WBA sacked Darren Moore. Without their parachute money they'll struggle for years:
Crystal Palace, Everton & Bournemouth being reckless and impatient. Stoke, West Brom & Swansea all in the shit. I think the below shows why WBA sacked Darren Moore. Without their parachute money they'll struggle for years:
Well, that's made simpler by the fact that nearly 3/4s of that spend was money that belonged to someone else that we're borrowing. It's a bit like saying I've turned a profit despite spending $500k on building a new home this year (I haven't). There's a way you can twist the reporting of financials to state that, and technically the cash would have passed through my hands...but it's not true in the sense that we're so well off as a business endeavor that we can spend a billion and still come up roses. But we are good enough as a business that we can borrow a billion without having to worry about being wound up.
Spurs smashing the wage war. West Ham surpsingly stable, 8 teams in the country over the danger line of 70% that UEFA recommend for wage spending.
Crystal Palace, Everton & Bournemouth being reckless and impatient. Stoke, West Brom & Swansea all in the shit. I think the below shows why WBA sacked Darren Moore. Without their parachute money they'll struggle for years:
The spurs players and their agents won't be too happy about that percentage and the overall financial results
Spending money we borrowed. Investors and banks generally want to see this, both the borrowing and the profit. It shows that Spurs are investing in the club to increase future revenues, which will then make them a lower risk to default on the debt.
They signed the contracts. Why does it matter how the club does? Why should that alter what they are happy to accept? I didn't see too many richer clubs offering the likes of Dele, Toby, Jan, Son, Harry a shot at the big time. Just because other clubs are actually insane at the moment doesn't mean our club needs to act that way.
This 38% will probably be well into its 40% areas now with the bumps of Poch, Kane, Dele, Son, Sanchez & Lamela in the summer but that's still more than acceptable in my book. Any business spending more than half of its profits on wages when they have a further £1bn debt to pay off long term are dicing with trouble, especially when you consider that a large chunk of our profits comes from a source not guaranteed each season with Champions League revenues.
Take away the bonus of Champions League and that 38% will possibly be closer to the rest of the pack
Well this is 2017/2018, so since then Kane, Alli and Son have all signed new deals.
Sure others have as well.
Deals were on the table for Eriksen and Toby that both have turned down while winding down their own contracts.
Pretty clear as turnover has gone up so have the wages of our top performers. So nothing for anyone to get upset about within the club, if anything quite the opposite.
It's a bit more complex.
The money we borrowed was to build a long-term asset. The stadium is not a cost, it's a real thing that in the long-term delivers extra revenue to the club. The profit is an operating profit. So, this is before we pay taxes, and before the debt payments and other stuff get factored in.
The operating profit just means that the day-to-day part of being a football club, excluding the stadium development and business stuff, is comfortably sustainable. It's an amazing thing from the perspective of financial management, as it means the club is in rude financial health and that the stadium will not be a burden for the club in the same way that Woolwich's was for the first half-decade or so after construction.
It's all really quite boring for the average fan, and the "FFS LEVY, SPEND SOME FUCKING MONEY!!!!!" crowd will take it as a sign that the club isn't doing enough but from the perspective of football as a business, with the off-pitch stuff enabling the on-pitch stuff it's a pretty stunning achievement.
Don't forget that's last season, since then we've done a lot of the big pay-rises, the good news is we have scope for more new contracts and, wait for it, new signings.
If anything this shows that we finally have the bandwidth to pay players more. This is good news. Looks at the other big 6, generally 50-60% of your turnover is for player wages. Tottenham will get there sooner rather than later. No one is under the illusion that we can do anything but bring in a lot of talent this summer.
Hopefully. Like Poch said, now it's time to act like a big club.