So did Woolwich during the period you mention.
I think Woolwich 05-17 is exactly what ENIC is aiming at, in the sense that cementing Spurs as a Champions League regular is a massive financial windfall, winning the other cups isn't a financial windfall at all, and actually spending the money to win the PL or CL would cost more than those victories would bring.
The trouble is, Woolwich did that during a period where they could all but coast to 4th place, there weren't financially equivalent competitors. Present day Spurs are seeking one of four spots in a league with five unambiguously richer clubs. Where we're standing currently is unlikely to be a stable equilibrium. We either move forward or we'll fall backward.
But this all gets back to what Poch has been saying. Project #1 is over, and it was a smashing success. The goal was top four and a run out in the CL and we've gone over and above that. What's Project #2? And what will it take to achieve that?
Much as there seems to be a correlation between us and Woolwich and our new grounds there also a massive divergence ....
Woolwich spent 390m in 2006 at a time when there turnover was roughly 130m and profit 10m ... over the next ten years gate receipts, TV revenues, European football rewards grew steadily turnover increased to 350m profits before tax averaged about 25m a year
So the cost of the stadium in simplest terms represented about 15 years profit ....
Now look at our situation:
Spurs spent 800m (
I use the higher number because it still works) at a time when our turnover was roughly 270m and profit 15m ... over the next three years gate receipts, TV revenues, European football rewards went utterly bananas, turnover increased to 385m profits before tax shot up to a massive 112m
So the cost of the stadium in simplest terms represents about 7 years profit .... that's half the time it took for Woolwich to pay back ...
and that's not all, when Woolwich started the Emptycrates they were at the time a top 2 club in the UK and a top 6 club in Europe, they couldn't do much better and indeed have since done worse ...
When we started NWHL we had just managed to creep into the CL we were a top six club in the UK and almost forgotten in Europe, we could do a lot better and feck me haven't we just
So comparisons are all well and good and indeed have some merit, but whilst Woolwich built at a time their club started going backwards, and the whole football world went through a slow financial period. We have built just as the club get going on the pitch, and with the whole football world looking at more money than you can find down a Man City sofa ....
It's all about the timing ..... ENIC seem to have nailed it .....
There is no excuse not to back Poch, and if ENIC want maximum returns then spending 200/300/400m on players over the next few years is probably the best investment they can make ....