Tottenham fans are constantly told their team must win something... but there is a bigger picture that is too frequently overlooked within football | Page 4 | Vital Football

Tottenham fans are constantly told their team must win something... but there is a bigger picture that is too frequently overlooked within football

Spursex said:
Just the value of the land/Buildings.

You can't bulk a balance sheet with projected revenue - if you could, corporate accounts would be an absolute nonsense!! - Although if listed t can partially equate to a PE valuation.

However, if I was buying the business, I would take it into account to probably arrive at an EV (Enterprise Value).

Our balance sheet is solid and based on strong assets, it was one of the things that impressed me when I saw the Rothschild Presentations.

If Enic Sold today, I suspect they'd be looking at a price between 1.5 and 2 billion.
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Thanks EX..
 
It's a healthy place to be, especially as the "intangible assets" i.e. the playing squad are always ridiculously undervalued on any football clubs balance sheets.

What will be interesting is the relationship between that hopefully decreasing £367m debt over several years and what's happening with net spending and wages. The new stadium is clearly exciting, but the major churn of players is required in these next 2 years to keep it exciting. Zero net spending will be tough to swallow and whilst always possible we don't really want to sell our best players like Kane, Dele and Eriksen.

The more you read, the more curious it gets !!!
 
muttley said:
It's a healthy place to be, especially as the "intangible assets" i.e. the playing squad are always ridiculously undervalued on any football clubs balance sheets.

What will be interesting is the relationship between that hopefully decreasing £367m debt over several years and what's happening with net spending and wages. The new stadium is clearly exciting, but the major churn of players is required in these next 2 years to keep it exciting. Zero net spending will be tough to swallow and whilst always possible we don't really want to sell our best players like Kane, Dele and Eriksen.

The more you read, the more curious it gets !!!
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I'll absolutely guarantee that wages will not move above 55% of revenues.

So if revenues hit around #500-£600 mill within 3-4 years (my projection) it will show you the scope we will have in paying even more money to players....

The key, is of course the debt repayments, which I estimate to be between £26-30mill p.a. or less....

Transfer budgets could with 5 years be up there with the biggest of them all in Europe...but much depends on the non=football event revenue increases from the stadium and of course, the commercial deals.
 
Spursex said:
I'll absolutely guarantee that wages will not move above 55% of revenues.

So if revenues hit around #500-£600 mill within 3-4 years (my projection) it will show you the scope we will have in paying even more money to players....

The key, is of course the debt repayments, which I estimate to be between £26-30mill p.a. or less....

Transfer budgets could with 5 years be up there with the biggest of them all in Europe...but much depends on the non=football event revenue increases from the stadium and of course, the commercial deals.
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I feel so positive about our future, we just need to hang in their for the next couple of years. Financially get out the group stage is probably worth more than winning the Europa, but winning Europa gives us CL football next season. Looking at the league it is 50/50 for me which is our best option.
 
Spursex said:
I'll absolutely guarantee that wages will not move above 55% of revenues.

So if revenues hit around #500-£600 mill within 3-4 years (my projection) it will show you the scope we will have in paying even more money to players....

The key, is of course the debt repayments, which I estimate to be between £26-30mill p.a. or less....

Transfer budgets could with 5 years be up there with the biggest of them all in Europe...but much depends on the non=football event revenue increases from the stadium and of course, the commercial deals.
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I seem to remember reading that part of the loan, possibly HSBC is over 5 years. Also that the debt is sought to be paid off aggressively.?
 
Nick Real Deal said:
I seem to remember reading that part of the loan, possibly HSBC is over 5 years. Also that the debt is sought to be paid off aggressively.?
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Project finance (i.e. the syndicated loan arranged by Rothschild) is literally just that; finance for the likely term and extent of the project - all indications are that long term cheaper mezzanine finance will replace it - but it may also coincide with a share placing that could raise hundreds of millions for Enic, whilst also paying down debt (I think this type of event is now odds on post project finance ending).

Anyway, that's what I've been led to believe is being planned.
 
I think anyone with debt has the same feeling what will happen with the interest rates in coming years. Couldn't blame Levy and co for feeling the same and trying to reduce the debt in the short term on these lower interest rates.
 
Joe Lewis just sold a David Hockney painting for around £ 70 mil. I don't know how much he paid for it but the auction estimate was 14 mil. As a small time art dealer I have had a few nice touches but nothing like that. Or the Edward Hopper painting which sold for 92 million dollars this week which cost the owner 180 k in 1973 !! I have 23 original paintings by a famous artist , maybe I should offer them to Joe. Wayne Hemmingway and Stella McCartney are interested in them .
Somehow I don't think we will be seeing the fruits of Joe's art deals .
 
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