Spurs fan in peace. I have been ocassionally skimming through the posts in this thread for the past couple of weeks just to get a guage of how likely City fans think the deal is to go through.
While reading through the posts, I realised that several of you have some misconceptions about Tottenham and Levy.
So, I want to dispell a couple of myths that I have repeatedly read:
1) Spurs need to sell Kane because they need the money
Anyone who has done any research on our stadium debt will know that is bullshit. The debt is spread over more than two decades and involves minimul interest payments every year.
In fact, the interest payment owed annually are a small fraction of the increase in matchday income as a result of our move from White Hart Lane. So, if anything we are now in a financially stronger position after moving to the new stadium.
Our wage bill is also extremely managable compared to the other big clubs in the league
2) Levy is a bad chairman who cares more about winning in negotiaitons than about Tottenham's long-term sucess.
If you look at how much Spurs have grown commercially worldwide since ENIC bought the club, you will obviously realise that this is crap.
The reason we are now among Europe's top ten richest clubs is because of Levy. Income wise, we were far off the pace of the traditional 'big four' when he took over as chairman but owing to the new stadium and our commercial growth, we are now in the same league as the likes of Liverpool and Arsenal in terms of the revenue we generate.
One also has to keep in mind that Spurs are a self-sustaining club, who do not have owners pumping money in. So, the only way for us to keep competing near the top over the long-term was to build a new stadium.
To blame Levy for Tottenham's lack of recent silverware is harsh when we constantly keep bottling semifinals and finals.
However, the team has certainly improved steadily on the pitch. Last season was the first time Spurs finished outside the top six in around 12 years, which shows how far we have come from the 90s an early 2000s.
3) Tottenham are a selling club
People keep mentioning Carrick and Berbatov, without realising that those sales were 15 years ago.
In both Modric's and Bale's case (which were also a decade ago), Levy actually stuck to his guns and refused to sell them to a domestic rival. In fact, he actually rejected a bigger bid from Chelsea for Modric before chosing to sell him to Real Madrid 12 months later.
The Kyle Walker case was different as he had fallen out with Pochettino, who started Trippier ahead of him in our final 10 games of the 2016/17 season. Pochettino wanted Walker sold.
If I were a betting man, I would still expect Kane to be a City player by the end of the transfer window but you will likely have to pay upwards of 150m at this stage of the window.
As per bold bit, you are a self sustaining club? How come you are one billion+ in debt!
You are the number one in debt club in the whole wide world (yay, a title of sorts), but all us City fans must remember yours is easily manageable debt that has a teeny weeny impact on your ever increasing self sustaining revenues, just for shits and giggles, here is your club compared to one other club with a smaller debt who find themselves basically bankrupt and who have a far greater revenue stream than your club.
Tottenham Debt
Gross Financial Debt | £831 million |
Transfer Debt | £140 million |
Staff Debt | £0 |
Tax Debt | £96 million |
Trade Creditors | £9 million |
Other Creditors | £102 million |
Barcelona Debt
Gross Financial Debt | £421 million |
Transfer Debt | £283 million |
Staff Debt | £180 million |
Tax Debt | £49 million |
Trade Creditors | £74 million |
Other Creditors | £23 million |
Well done, all that ‘good debt’ looks outstanding, Levy has indeed put your club in a very strong position!
A graph showing your no 1 position;
If we include other debt, such as the amounts owed to staff, tax authorities, suppliers and other creditors, the total debt of the 12 clubs signing-up to the European Super League is a staggering £7.4 bln.
https://t.co/ohRPZmRGOs
In fairness, Chelsea have a greater debt, 1.4b all owed direct to a holding company of Abramovich, this debt is though very manageable, well unless Abramovich suddenly changes his mind, though I suspect he may have other reasons for using Chelsea to transfer certain perfectly legally gained monies!
So indeed, well done to Levy for increasing Tottenham’s income to the top ten in Europe, as you say very commendable, slightly less so, well done to Levy for giving Tottenham all that ‘good debt’ to unprecedented never seen before levels, a shiny light and whose achievements are right up there with the accountants at Enron.
Lastly, whose owners are ‘pumping money in’? I suspect this was you retelling an often told lie about our owner, our club has for quite some years only been spending money generated within our club, greatly assisted by something you may not of heard of called prize money, this is monies earned for winning football competitions, I know , who knew!