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1.2bn arena......"underinvestment in the club"
I trust Levy. He has a grand plan.
the £600m was spend using a short term overdraft, now it's been paid off by taking out a mortgage of sorts.
Spurs £637million of loans, originally due for repayment in 2022, now not due to be repaid until an average of 2042. At 2.66% interest rate annual finance cost about £17 million. That's FUCKING CHEAP, Woolwich's Emirates Stadium finance cost is supposed to be £25m pa (against approx £350m?!!) Would expect the new stadium to increase matchday income to at least £100m pa (from what used to be £40m)!
With our revenues around £400m our repayments against our loans are very, very manageable (less than 5% of the debt) and with approx 50% of the stadium (valued at £1.2b) already paid off it's a fucking amazing piece of work.
White Hart Lane used to generate more matchday revenue than Woolwich before they moved to the emirates, things on course to swing again.
Spurs £637million of loans, originally due for repayment in 2022, now not due to be repaid until an average of 2042. At 2.66% interest rate annual finance cost about £17 million. That's FUCKING CHEAP, Woolwich's Emirates Stadium finance cost is supposed to be £25m pa (against approx £350m?!!) Would expect the new stadium to increase matchday income to at least £100m pa (from what used to be £40m)!
With our revenues around £400m our repayments against our loans are very, very manageable (less than 5% of the debt) and with approx 50% of the stadium (valued at £1.2b) already paid off it's a fucking amazing piece of work.
White Hart Lane used to generate more matchday revenue than Woolwich before they moved to the emirates, things on course to swing again.
So no excuse to not get the cheque book out or pay players more? £17m PA stadium cost is one average player a year
Levy: “I understand, as I am a fan, clearly you want to win on the pitch,” he said. “But we have been trying to look at this slightly differently, in that we want to make sure we ensure an infrastructure here to stand the test of time.”So no excuse to not get the cheque book out or pay players more? £17m PA stadium cost is one average player a year
The message won over US private investors for the bond issue but may be seen as provocative by fans who want a spending spree to reinforce a team that has fallen agonisingly short of the sport’s top prizes in recent seasons. “We could have easily spent more money on players,” said Mr Levy. “Who knows if that would have bought us more success or not . . . The right approach is to build from the bottom up. There is no quick fix to becoming a much more significant global club.”
We will continue on the path we are on mate, it's a path that is outperforming those around us. Even with our phenomenal revenue growth, we are still light years behind City & Man U and a considerable distance from Chelsea & Liverpool.
What will be interesting to see how this pans out would be on our wages. If these are increased will it change anything??? For instance, if we pay Erikssen £300k per week would that push Spurs to the next level? I'd say that's an emphatic NO! However, buying Ndombele is operating in a new market for us, he was £60m and is our 2nd highest earner, the same question from what you have seen of him has he improved the team, does his capture mean it will push us on? The answer, right now that's an emphatic NO!
that’s great, I’m only joking about the spending, much prefer our club to grow organically. Great if can now compete to buy players. More important that we progress on the pitch. Good to see our commercial operation though is not beginning to outstrip Woolwich.
Because we have refinanced the loans over a longer term we are now in a position to compete financially with Europe's BIG clubs.
However Levy states quite openly that he won't do this.
At least not to the level some fans are expecting. We'll probably see a lot more signings in the Ndombele-Lo Celso price range tho.
Not being funny but we're gonna fucking need them.
Eriksen contract
Toby and Jan contract and age
Sissoko and Dier are they really good enough*
Hugo age ? a keeper so a good few years left
Wanyama broken
*I like them both and Sissoko had a great season for us. Re Dier is it coincidence that he hardly played after Xmas and we were shite in the PL.
Sissoko is also nearing 30 so it is no illogical to assume that his main attribute (physique and strength) will start waning as well.
Poch said that we are in for a rebuild. Realistically the window to win a major trophy with this particular team setup has passed. But due to the infrastructure and finances in place it should not take that long to be back at it.
The stadium debt is structured in a way that should allow us to spend more in the market, not less, due to the significantly increased match day other commercial revenue associated with it.
At this point, if we do not spend in the market, it's not because we can't afford to.
That's less than 60% of a Sissoko!!So no excuse to not get the cheque book out or pay players more? £17m PA stadium cost is one average player a year
I mean, if we are beating our rivals to buy a couple €50-75m players a year...that seems good?
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Basically we'll be saddled with debt for the next 15-30 years and are planning to keep investment in the squad at the bare minimum required to keep us competitive.
You're welcome.
Change the channel mate
We arranged short term loans during the stadium and surrounding development builds, these would have been at bank rates + fees probably around 5-6% .... in total so far we've ended up spending around a billion pounds, 350m of which came from the club, 637 million came via loans.
That 637 million would have been costing around 35 million a year in interest. We've now converted those loans into bonds at 2.66% reducing annual payments by nearly 20m a year. Assuming an average 20 year term we will now set aside some 50m a year to cover these bonds plus interest.
If the stadium generates 100m a year that puts us 50m profit per year ahead of where we were two years ago, and that doesn't include marketing, sponsorship and all the other additional income streams.
So despite what some financially illiterate morons might think (JT) ... this build has been a massive success and will put us financially much closer to our top six rivals.