Cashmoney from ENIC - Not a joke!

[Real Deal]

As much as I detest all things Arsenal related, if this money does help us go up a level - and I think there's a long way to go yet - the team I am most looking forward to displacing is Chelsea.

Since the day RA bought them they've been lording it over us like some vulgar Harry Enfield 'loadsamoney' character.

I can't forget the way they sabotaged the Willian deal and mocked us; the way they tried to lure Modric; at times it seems as though they've bought players just to stop us buying them.

I just can't wait to see that smug and sneering look wiped off their faces.

They are a team I hope we destroy over time.

But for me it's Liverpool. I won't forget their parasite fans literally throwing beer on me and my mates and goading when they won CL.

I have never liked them but I'm sick of their shameless, victimized arrogant voices and faces.

When we win a title or CL I hope it's them we beat.

 

[muttley]

Is he hinting that should we make CL again next year ENIC may release another £150m?

Who? 80? He's always hinting

 

[Topspur1]

Who? 80? He's always hinting

Sorry! There was a link to a Sky financial reporter, his last comment made it sound like this could be repeated again.

 

[Barnsleyspur]

Since we're delaying the kulu deal for a year, I'm not entirely sure we'll be spending so to such an extent.

I'd love to eat my words but 20 years of ENIC has me wondering what the intention/motives are. It surely can't be to invest in football players can it?

 

[TQ2Spurs]

Since we're delaying the kulu deal for a year, I'm not entirely sure we'll be spending so to such an extent.

I'd love to eat my words but 20 years of ENIC has me wondering what the intention/motives are. It surely can't be to invest in football players can it?

Yes but for 18 of those years we were trying to compete with the likes of United with half the gate receipts and far less commercial income. We've now finally rectified that (no thanks to a certain sheet metal company) and are well placed to compete at least with those clubs that operate on a sustainable income basis.

 

[Barnsleyspur]

Yes but for 18 of those years we were trying to compete with the likes of United with half the gate receipts and far less commercial income. We've now finally rectified that (no thanks to a certain sheet metal company) and are well placed to compete at least with those clubs that operate on a sustainable income basis.

I'd love to eat my words.

That's all I can say. We all love Tottenham but I've grown weary of ENIC and false dawns. Let's see what happens now.

I won't be getting too excited till we see some late 2000 style three transfer Fridays with the new lads wearing each of our new kits.

 

[Departed]

Since we're delaying the kulu deal for a year, I'm not entirely sure we'll be spending so to such an extent.

I'd love to eat my words but 20 years of ENIC has me wondering what the intention/motives are. It surely can't be to invest in football players can it?

Looks like the majority of the money is and the players that have already arrived will have been factored into existing revenues when their deals were entered into.

But what it also does is increase the value of the club by issuing equity at a specific valuation (price). This can be done because the company is effectively a private corp. The upside for ENIC is any future investor or buyer will have to meet that valuation, at a minimum, whick locks in a floor price for whoever is selling.

It is a big league risk on Levy's part. But he obviously feels he has the right management team, revenue base and CL and it is the right time to take that risk. It's a pretty impressive statement.

 

[Barnsleyspur]

They are a team I hope we destroy over time.

But for me it's Liverpool. I won't forget their parasite fans literally throwing beer on me and my mates and goading when they won CL.

I have never liked them but I'm sick of their shameless, victimized arrogant voices and faces.

When we win a title or CL I hope it's them we beat.

Between them, chavs and Madrid fans for the absolute worst fanbase.

 

[Barnsleyspur]

Looks like the majority of the money is and the players that have already arrived will have been factored into existing revenues when their deals were entered into.

But what it also does is increase the value of the club by issuing equity at a specific valuation (price). This can be done because the company is effectively a private corp. The upside for ENIC is any future investor or buyer will have to meet that valuation, at a minimum, whick locks in a floor price for whoever is selling.

It is a big league risk on Levy's part. But he obviously feels he has the right management team, revenue base and CL and it is the right time to take that risk. It's a pretty impressive statement.

I don't care about any of this. Only success. I hope the funds are used to back Conte and get him n Kate (intentional misspell) new deals.

 

[Departed]

I don't care about any of this. Only success. I hope the funds are used to back Conte and get him n Kate (intentional misspell) new deals.

I know you don't care. But there is always a double motive for Levy. He's made the funds available for players and scouting infrastructure at the same time he's levelled up the value of the club. It makes this move more believable which is what I was addressing.

 

[Gary Onedaysoon]

There's a report this morning saying that the new owners of Chelsea will provide Tuchel with up to £200m to invest in the squad.

The period from the point that the new owners were nominated as the preferred bidders to the point of completion of the sale seems to have been carried out very fast. You would think the due diligence required on a sale of this magnitude, and in the context of why the sale was necessary, would take months rather than a couple of weeks.

 

[muttley]

There's a report this morning saying that the new owners of Chelsea will provide Tuchel with up to £200m to invest in the squad.

The period from the point that the new owners were nominated as the preferred bidders to the point of completion of the sale seems to have been carried out very fast. You would think the due diligence required on a sale of this magnitude, and in the context of why the sale was necessary, would take months rather than a couple of weeks.

It's probably like most things. The more people you throw at it, the quicker it gets done. Football clubs are tiny, simple businesses with one product. It's not like business where the selling company tells you about the products they sell and their customer base. The when you peel the layers back you find that the products are architected all wrong or going end of life in the market very soon. Then you find out they are hanging onto their biggest customers by a thread and the revenues and profits are at risk.

I guess if you knew what you were doing then you could get through the acquisition due diligence pretty quickly for a football club. It is perhaps harder to assess a League One or Two side over a Chelsea.

 

[Spursex]

I know you don't care. But there is always a double motive for Levy. He's made the funds available for players and scouting infrastructure at the same time he's levelled up the value of the club. It makes this move more believable which is what I was addressing.

As we've discussed previously; the post-cash valuation can make a huge difference to the valuation of a placement., which will not only benefit the club when it happens - and of course the shareholders.

As I have said before, this was always going to happen, but Levy had a plan and he' stuck to it (for the right reasons, through thick and thin).

Funnily enough, I got talking to one of the guys who coach me at TT last night and I've known him for years, but we were in the pub after discussing stadium builds as one of the other guys was instrumental in most of the new builds in the PL for the past 20 years and we got to discussing how right Levy has got the stadium and how he did it and just starting telling us that he was with Levy at St.Johns at Cambridge and that they were there together, and gave us some insights into what he was like then - and how often he sees him now and that he hasn't changed - won't say what he said here, but it was very insightful.

I take my hat off to him, he's faced some huge personal challenges.

 

[Spursex]

It's probably like most things. The more people you throw at it, the quicker it gets done. Football clubs are tiny, simple businesses with one product. It's not like business where the selling company tells you about the products they sell and their customer base. The when you peel the layers back you find that the products are architected all wrong or going end of life in the market very soon. Then you find out they are hanging onto their biggest customers by a thread and the revenues and profits are at risk.

I guess if you knew what you were doing then you could get through the acquisition due diligence pretty quickly for a football club. It is perhaps harder to assess a League One or Two side over a Chelsea.

The hardest, most detailed part of the work would have been going through the contract details of players, staff and agents and some of money owed and due in...once that's done it's actually a very simple assessment of revenue and expenditure/liabilities and assets.

At a football club, it should never take long.

 

[Pompey Yid]

Sorry! There was a link to a Sky financial reporter, his last comment made it sound like this could be repeated again.

Tops, I read this morning, Express I think, the same thing...£150m injection is just the start! fingers and every bloody thing else crossed.

 

[meee93]

Are we obliged to make this accouncement public? If not then the question is why have we done so as you would think that it would negatively impact negotiations. Is this Levy letting the world know that he's done his bit to back Conte and so if anything goes wrong then the fans can't blame him. And if it goes well then the world knows that it is as a result of his investment. Or is that too cynical?

 

[Spursex]

Are we obliged to make this accouncement public? If not then the question is why have we done so as you would think that it would negatively impact negotiations. Is this Levy letting the world know that he's done his bit to back Conte and so if anything goes wrong then the fans can't blame him. And if it goes well then the world knows that it is as a result of his investment. Or is that too cynical?

There are small shareholders owning around 14% (or thereabouts) of the club; they have to be kept informed - especially when any fund raising would technically be dilutive to their holding and so that is why we have to announce this publically. Minority shareholders have rights., even after the club was delisted.

 

[meee93]

There are small shareholders owning around 14% (or thereabouts) of the club; they have to be kept informed - especially when any fund raising would technically be dilutive to their holding and so that is why we have to announce this publically. Minority shareholders have rights., even after the club was delisted.

Thanks Ex, I wasn't sure on the obligations of non listed companies. Do we know what % of the shares that this 150m is supposed to equate to? I presume it would be done with one eye on helping to place a value on the club for when it is sold

 

[Spursex]

Thanks Ex, I wasn't sure on the obligations of non listed companies. Do we know what % of the shares that this 150m is supposed to equate to? I presume it would be done with one eye on helping to place a value on the club for when it is sold

If all the warrants are taken up it would add around 2% to the holding of ENIC; interestingly that's also a £2 per share premium over the asset market trading price, so no one can accuse then of doing what major shareholders normally do in a fund raise and give themselves a heavy discount.

Got to be honest when I looked at the details, this surprised me.

 

[Departed]

If all the warrants are taken up it would add around 2% to the holding of ENIC; interestingly that's also a £2 per share premium over the asset market trading price, so no one can accuse then of doing what major shareholders normally do in a fund raise and give themselves a heavy discount.

Got to be honest when I looked at the details, this surprised me.

No one can argue when Joe puts his up for sale. Legal price setting.