No doubt Spurs are taking on a huge amount of debt. Net debt now stands at £365m according to a recent statement by Levy. That's with most of the stadium's big ticket items paid for. Who knows.....maybe it will eventually rise to as much as £500-600m?
But on the flip side, profits for the past financial year were £160m. Which would suggest that, over a 20 year period, say, the debt should be manageable.
Agreed that Poch doesn't sound happy. And that is a worry. But I should add that Spurs have been operating on a near zero net spend policy for years now. The only thing new about this summer's failure to sign any players was the Premier League's shortsighted, unilateral decision to bring forward the end of the transfer window to early August. It put PL clubs in an impossibly weak position when negotiating with continental clubs. Spurs couldn't, therefore, sell the players they wanted to sell for what they should have been worth and so were not able to buy the players they wanted to buy. Thankfully, we won't have the same problem next summer.
Is Wembley capped at 56k when spurs play?
Eh? All of the PL clubs voted on bringing the date forward and all of them knew the position at the same time, well in advance of the window opening. Not sure how/why you think Spurs had issues no-one else did in that respectThe only thing new about this summer's failure to sign any players was the Premier League's shortsighted, unilateral decision to bring forward the end of the transfer window to early August. It put PL clubs in an impossibly weak position when negotiating with continental clubs. Spurs couldn't, therefore, sell the players they wanted to sell for what they should have been worth and so were not able to buy the players they wanted to buy. Thankfully, we won't have the same problem next summer.
I don't think he does. Operating profit for 2017 was £29.6MYou will have a far better grasp of the costs than i do mate.
The stadium when finished will no doubt be one of the finest in world football.
Hopefully for your sakes you have a team to go with it.
I don't think he does. Operating profit for 2017 was £29.6M
Eh? All of the PL clubs voted on bringing the date forward and all of them knew the position at the same time, well in advance of the window opening. Not sure how/why you think Spurs had issues no-one else did in that respect
Was the Wembley grounds man in charge of the pitch? Or the spurs grounds man?
Spurs will fill the ground irrespective, imo.Regardless of the money awash in football mate, the cost of your new ground is staggeringly eye watering.
To pay for it its clear that Poch or whoever is in charge will not be backed to make a serious tilt at the title and if there is no success on the pitch, it wont be long until there are empty seats in the stadium.
Like it or not you now have one hell of a debt around your necks, granted for a world class stadium but sooner, rather than later its going to need a world class side in it every other week and that too is going to have to be paid for.
The margin for success or failure right now for Spurs is very fine and what Poch said this week should set alarm bells ringing for all Spurs fans.
OK, so why won't you have the same problem next summer?I'm not suggesting that Spurs were uniquely disadvantaged. All PL clubs were disadvantaged when it came to negotiations with continental clubs.
It's just that Spurs have to be especially prudent currently, for obvious reasons. They couldn't afford to put themselves in a position in which they had spent a lot on players without having raised anything from player sales before the PL window shut. It would have meant negotiating player sales with continental clubs from a position of desperation. And negotiating from such a position never leads to favourable outcomes
But on the flip side, profits for the past financial year were £160m. Which would suggest that, over a 20 year period, say, the debt should be manageable.
I don't think he does. Operating profit for 2017 was £29.6M
I didn't want to say or argue as in the grand scheme of things, im not really that arsed but thanks for the confirmation.
Are you sure you made a profit of £160m the last financial year? That's a huge amount of money for a club with your turnover.
OK, so why won't you have the same problem next summer?
Seeing as spurs hire Wembley i would guess it was the Wembley ground staff......not sure if the spurs grounds staff could have done more to get the pitch decent. Speaking as a groundsman, I don't think there was much that could be done in 24hrs. The thing that surprised me was that more green linemarker wasn't used to cover up the unwanted lines.
Playing league games in a stadium half the size with hardly any corporate areas, combined with paying a huge rent in the Champions League games to play at Wembley.I don't think he does. Operating profit for 2017 was £29.6M
That's gross though. For example in 2017 it was 119 gross and 30 operating. Both important measures but it's the sort of gloss a CEO puts in a statement.Statement by Levy re the stadium and finances on Spurs' official site on Friday:
https://www.tottenhamhotspur.com/news/2018/october/club-statement-new-stadium-and-financial-update/
"At 30 June, 2018, the Club had net debt of £366m.
This level of investment by the Club has been made possible by record revenues of £381m and profit from operations before football trading, depreciation, interest, tax and exceptional items of £163m for the year to 30 June, 2018"
Spurs will fill the ground irrespective, imo.
How long down it take to fork a pitch cut it spray it green and whiten the lines?
Ashley is regarded with derision by many observers for starving his Newcastle side of investment. How does Levy's strategy differ?