The Stadium! | Page 109 | Vital Football

The Stadium!

Thanks SE. .
IT was quite funny the other day . Critical Spur was asking if anyone had any pics from the test event .
By the time I had gone back through your tutorial , Spursex had beaten me to it Ha ha
 
EX how long will it take us to pay off the stadium debt? Some spurs fans are saying 30 years. Surely not?

Imagine being held hostage by ENIC for another 30 years without winning anything. I will probably be dead by then. lol
 
Real Deal said:
EX how long will it take us to pay off the stadium debt? Some spurs fans are saying 30 years. Surely not?

Imagine being held hostage by ENIC for another 30 years without winning anything. I will probably be dead by then. lol
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It's a good question. I guess it comes down to who makes what profit on surrounding /related 'projects' - sometime ago there was an 'arms length' transaction whereby assets were sold/transferred to the Bahamas to an off shore company.

I haven't looked for awhile, but I'm going to assume that exploitation of these multiple sites and add on's will all accrue to this off-shore company and not to ENIC/Spurs (even if the shareholders are common).

The Project finance will when all is complete almost certainly be replaced by some form of long term finance, which in the scheme of things is generally cheaper. I see no reason why this debt couldn't be repaid over 30 years, but the 'norm' is more like 15-20 for projects of this nature. I'd then expect to see it able as a specific charge at companies house, although I also wouldn't be at all suprised to see some debt for equity sway in ENIC, charged agaist their Spurs shares.

So I expect to see a debt attached to Spurs via the accounts at some point n some manner of between 450-550 mill.

It's all guess work from here, but loan repayments of between 30-40 mill a year would reflect our then likely cost of long term borrowings (again, depending on term).

Given the uplift in bums per seat spend and other commercial revenue exploitation of the new facilities; a net available increase in freeflow cash after repayments in the order of of anywhere between 50-75 million a year after years 2/3 of the project finance being replaced is both realistic and likely.

Some might say that I'm being too conservative here on the projects but much will depend on the likely 15-20 non football events that the ground will host in due course.

Either way, it will go a long way to boosting revenues - of course, then some might say, will we spend them where it matters?...

Of course there is another scenario in as much Levy & co does a 'Glazier' and leverages the revenues to buy out Lewis from Enic and consolidates his control for his trusts and remains in place pretty much forever.

People assume that Levy and Lewis are attached at the hip forever - I think that's far from the truth and post the end of the project and all is as it is planned to be that an exit for lewis, not Levy is odds on.
 
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The big girder thingy that I spoke of before is now stretched out across the pitch. Anyone know what it’s for?
 
Welshtel said:
The big girder thingy that I spoke of before is now stretched out across the pitch. Anyone know what it’s for?
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To the best of my knowledge Tel , it's a light /heat system that aids the "grass " growing . They had them at the Lane when I did my stadium tour not that long ago ,but they were manual jobbies then .moved around the pitch by hand These are much more upmarket and are stored under the North Stand and operated at a touch of a button . There is a video on YouTube of a similar system , maybe SE will be able to post it . I won't be able to look for it until at least Tuesday next week. SE. ...........that's not an excuse ha ha
 
That was my 1st impression, thinking this structure would slide the full length of the pitch, either for controlled irrigation and/or heat lamps. However, there's a 2nd one being assembled and looks more like part of a crane (with the longer span) as per the one in the SE corner. I read some where that typically the turf will require over 15 days before given the 1st cut. All getting a bit too close for comfort. All the contractors will have to work in the 'Levy time' mode!.
 
I was actually thinking that it might be a crane or whatever. I was under the impression that the grass growing agricultural lights were fixed underneath the long south stand so that when it’s retracted to reveal the NFL pitch, the grass gets growing light and sprinklers. (Not sure where I heard that but read it somewhere).
 
I think the fact that the 1st of these has now been slid over the pitch, with motor-like gubbins at either end suggests it is some form of 'over the pitch' management contraption.
 
I’m just bemused ‘CS’, where would they be ‘parked’ normally, when not in use? They DO however look as though they fit there on tracks alongside the pitch. They wouldn’t really look right at either end of the pitch behind the goal lines. Unless they can both be parked out of sight at the north end?? I’m wondering if there’s any equipment needed for the NFL games/pitch.
 
Lots of stuff going around saying it’s going to be delayed
 
I’m rather getting that impression ‘Gerbils’, there’s a lot still to be done and there’s just a month to go? Unless contractors commit loads of workers to the remaining tasks, I can’t see it happening on time.
 
I have no doubts it will be ready for the NFL as that’s money.

Odds on that being the first proper game?

Sums ENIC up
 
You all need to take a chill pill, it will be a relatively small payment (by way of an insurance for the Premier league) for an option.

The Premier League have demanded cover for a 'what-if' scenario...

It doesn't mean it's nailed on, not yet anyway.
 
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