ENIC

[Gutter Boy]

I hope Mabbsy is still doing this when he's 95, and i qualify for a call.

I also hope that speaking to miserable old men all day doesn't push him down the route of either the Samaritians or the Prevent programme

 

[Legohamster]

Tottenham Family Owners Order Accounting Review After Levy Exit

The majority owner of Tottenham Hotspur is conducting an accounting review into former Chairman Daniel Levy’s long tenure as part-owner and custodian, according to people familiar with the matter.

news.bloombergtax.com

Seems the relationship has completely broken down

 

[DubaiSpur]

Tottenham Family Owners Order Accounting Review After Levy Exit

The majority owner of Tottenham Hotspur is conducting an accounting review into former Chairman Daniel Levy’s long tenure as part-owner and custodian, according to people familiar with the matter.

news.bloombergtax.com

Seems the relationship has completely broken down

Hmm. This bit is notable -

"Levy turned Spurs into one of the most valuable clubs in Europe. However, the club had consistently failed to win major trophies and Levy turned down numerous investment and takeover offers. That led to a fallout with the ownership group, according to people familiar with the matter."

Interesting that the insinuation here is that Levy turned down offers to sell that the Lewis family considered to be more than sufficient. Wonder what their internal valuation of the club is?

 

[Lilbaz]

Hmm. This bit is notable -

"Levy turned Spurs into one of the most valuable clubs in Europe. However, the club had consistently failed to win major trophies and Levy turned down numerous investment and takeover offers. That led to a fallout with the ownership group, according to people familiar with the matter."

Interesting that the insinuation here is that Levy turned down offers to sell that the Lewis family considered to be more than sufficient. Wonder what their internal valuation of the club is?

Then why are they saying the club is not for sale and have already turned down interest allegedley?

 

[Mikey10]

"Levy turned Spurs into one of the most valuable clubs in Europe. However, the club had consistently failed to win major trophies and Levy turned down numerous investment and takeover offers."

Who is this Levy person?

 

[DubSpur]

Hmm. This bit is notable -

"Levy turned Spurs into one of the most valuable clubs in Europe. However, the club had consistently failed to win major trophies and Levy turned down numerous investment and takeover offers. That led to a fallout with the ownership group, according to people familiar with the matter."

Interesting that the insinuation here is that Levy turned down offers to sell that the Lewis family considered to be more than sufficient. Wonder what their internal valuation of the club is?

Makes absolute zero sense. If an offer comes in it would have to be discussed with Lewis/ENIC. Levy wouldn't have the authority to turn down an offer, it would have to be the majority shareholder.

 

[Gutter Boy]

Hmm. This bit is notable -

"Levy turned Spurs into one of the most valuable clubs in Europe. However, the club had consistently failed to win major trophies and Levy turned down numerous investment and takeover offers. That led to a fallout with the ownership group, according to people familiar with the matter."

Interesting that the insinuation here is that Levy turned down offers to sell that the Lewis family considered to be more than sufficient. Wonder what their internal valuation of the club is?

Or perhaps that Levy wouldnt sell us to a clearly asset stripping american or a human rights abusing suadi, whereas Lewises didn't give a brick? I.e.. Levy felt a moral duty to only pass us on to fit and proper owners

 

[DubSpur]

Or perhaps that Levy wouldnt sell us to a clearly asset stripping american or a human rights abusing suadi, whereas Lewises didn't give a brick? I.e.. Levy felt a moral duty to only pass us on to fit and proper owners

If doesn't matter what Levy would or wouldn't do, if Lewis wanted to sell he wouldn't have a choice. I find it more likely that Levy wanted outside investment but the Lewis family aren't interested in that.

 

[DubaiSpur]

Makes absolute zero sense. If an offer comes in it would have to be discussed with Lewis/ENIC. Levy wouldn't have the authority to turn down an offer, it would have to be the majority shareholder.

For sure. I recall someone (maybe Ali Gold? Defo a journo) saying in the summer that there was a sort of hands-off relationship where Joe Lewis trusted Levy to run the club, but then as he grew more incapable, the kids wanted closer control but found Levy unwilling to accommodate them.

Could be that dynamic playing out, in the sense that Levy rejected offers through the Lewis years with Joe's blessing, but then kept doing it even when the kids were taking over the family business? Though, have to note that it's based on unnamed sources, too.

 

[Bedfordspurs]

For sure. I recall someone (maybe Ali Gold? Defo a journo) saying in the summer that there was a sort of hands-off relationship where Joe Lewis trusted Levy to run the club, but then as he grew more incapable, the kids wanted closer control but found Levy unwilling to accommodate them.

Could be that dynamic playing out, in the sense that Levy rejected offers through the Lewis years with Joe's blessing, but then kept doing it even when the kids were taking over the family business? Though, have to note that it's based on unnamed sources, too.

More incapable??? That’s your words, right

 

[DubSpur]

For sure. I recall someone (maybe Ali Gold? Defo a journo) saying in the summer that there was a sort of hands-off relationship where Joe Lewis trusted Levy to run the club, but then as he grew more incapable, the kids wanted closer control but found Levy unwilling to accommodate them.

Could be that dynamic playing out, in the sense that Levy rejected offers through the Lewis years with Joe's blessing, but then kept doing it even when the kids were taking over the family business? Though, have to note that it's based on unnamed sources, too.

And there's other reports that for any really big decision Levy still had to go back to Lewis, we're just guessing. Lewis was never incapable of making business decisions.

 

[Lilbaz]

Makes absolute zero sense. If an offer comes in it would have to be discussed with Lewis/ENIC. Levy wouldn't have the authority to turn down an offer, it would have to be the majority shareholder.

Not necessarily. It's why there are hostile takeovers. Where the buyer goes over the board and straight to shareholders. We're seeing that with Paramount trying to buy WB.

 

[DubSpur]

Not necessarily. It's why there are hostile takeovers. Where the buyer goes over the board and straight to shareholders. We're seeing that with Paramount trying to buy WB.

Totally different situation. There can't be a hostile takeover of Tottenham, Joe Lewis and now the trust are majority shareholders with over 50% of the shares. They either say yes or no, it doesn't matter what other shares anyone else buys.
With WB no one person or business owns more than 50% of the shares.

 

[SpurMeUp]

If doesn't matter what Levy would or wouldn't do, if Lewis wanted to sell he wouldn't have a choice. I find it more likely that Levy wanted outside investment but the Lewis family aren't interested in that.

Yes looks like lazy journalism.

I think the point (lost in chinese whispers) is that Levy wouldn't want his own shareholding diluted. Which could compromise taking on new investment. Levy wanted to use cashflow as much as poss. Because if shareholders had to invest, he would lose his proportion of shares, as he probably doesn't have 10s or 100s of millions in cash to invest.

 

[DubaiSpur]

More incapable??? That’s your words, right

Yeah - specifically referring to Lewis here, mind. Don't recall the specific words the journo used, but it was something to the effect of Lewis growing less capable of overseeing his business empire, which included Spurs. Might have been Jack Pitt-Brooke on the Athletic, now that I come to think of it?

 

[DubaiSpur]

And there's other reports that for any really big decision Levy still had to go back to Lewis, we're just guessing. Lewis was never incapable of making business decisions.

True, we're guessing. But would be interested to find out what went on one day - maybe Levy does a tell-all book, who knows.

 

[DubSpur]

True, we're guessing. But would be interested to find out what went on one day - maybe Levy does a tell-all book, who knows.

Would love that, would be an instant best seller

 

[Lilbaz]

Totally different situation. There can't be a hostile takeover of Tottenham, Joe Lewis and now the trust are majority shareholders with over 50% of the shares. They either say yes or no, it doesn't matter what other shares anyone else buys.
With WB no one person or business owns more than 50% of the shares.

Non hostile they go to the board who decide. Although if it's over a certain percentage in this country they are required to pass that on to the shareholders if the bid is official. Hostile they go to the shareholders.

I have no idea if there is any truth in this. I doubt it. But it could be that someone went to levy to sound out an offer without making it official. Levy (and the board) said not interested and didn't mention it to lewis or the trust. They'd be in their rights to do so. Borson has said you often get timewasters that just want a tour of the ground and not serious.

 

[DubSpur]

Yes looks like lazy journalism.

I think the point (lost in chinese whispers) is that Levy wouldn't want his own shareholding diluted. Which could compromise taking on new investment. Levy wanted to use cashflow as much as poss. Because if shareholders had to invest, he would lose his proportion of shares, as he probably doesn't have 10s or 100s of millions in cash to invest.

It would be an outside investor, so they get new shares. The proportion of shares that Levy would own would reduce but their actual value would remain the same.

 

[DubSpur]

Non hostile they go to the board who decide. Although if it's over a certain percentage in this country they are required to pass that on to the shareholders if the bid is official. Hostile they go to the shareholders.

I have no idea if there is any truth in this. I doubt it. But it could be that someone went to levy to sound out an offer without making it official. Levy (and the board) said not interested and didn't mention it to lewis or the trust. They'd be in their rights to do so. Borson has said you often get timewasters that just want a tour of the ground and not serious.

Again, to go over that % it needs Lewis or the Trust now. Everyone knows who owns Tottenham, if Levy was being a blocker they'd just go straight to Lewis if they were serious. It smells of pure BS.