ENIC

[ricky2tricky4city]

Moshiri isn’t a bad owner
He has made some unsuccessful appointments and recruitment but his intent is bloody outstanding IMO

He hasn’t destroyed the club
The club is no worse than what he inherited

If he keeps making bad appointments and recruitments he will destroy the club.

Moshiri isn't a bad owner?...but some say ours are?

 

[ricky2tricky4city]

People keep saying this as if it means we don’t have to pay any cash for the stadium. Don’t we have a plan to pay off the remaining loan balance over 23 years? Which I appreciate means a lower annual figure than the depreciation figure, but I’d imagine it will still require a lower ratio of wage + amortisation : revenue than other clubs, won’t it?

Nope. Just the (I think in these accounts) 22m interest charge

 

[braineclipse]

We have kicked the can down the road on a lot of transfers...(as I said Richie Romero and Deki are all coming in the 22/23 accounts), that will obviously be helped by a probable £500+m income figure as well.

Looking back it has to be remembered these set of accounts started in July 2021. COVID restrictions were still in place, our away game at Brighton Dec 2021 was called off for COVID. So with that still a backdrop and already nursing 18months of eff all income, along with a big transfer debt already outstanding (a large part being due on poor acquisitions)....so considering that landscape the correct way to proceed is to push our FFP % to the limit to keep Finney happy?

Isn't the "should be closer to the FFP regulated limitations" just a different way of saying "I want the owners to inject (more) money"?

 

[braineclipse]

Does he trot out the FFP line? The bloke spoken to the press twice this year which is prolific, he mentioned about clubs and their abuse of it, I have never read him say that we are on the limit and therefore given a falsehood of our status.

FFP is there to govern the game, you are talking it up like its where clubs should be in terms of their spending, you expect clubs to be right up against their limits which is not really what they are designed for, but alas I get that its another thing for people to be upset about. Regardless of the fact we are now starting to increase our spending and are inline with rivals (Bar Chelsea) on spending

Curious about what it is Levy has "trotted out" about FFP myself.

People keep asking for more information from Levy. More communication, more openness. Including the Trust.

My impression at least is that there's very little Levy can say without it ended up being misrepresented, taken out of context or read with nothing like good assumptions by many of our fans.

 

[Lilbaz]

Curious about what it is Levy has "trotted out" about FFP myself.

People keep asking for more information from Levy. More communication, more openness. Including the Trust.

My impression at least is that there's very little Levy can say without it ended up being misrepresented, taken out of context or read with nothing like good assumptions by many of our fans.

From the letter to the supporters trust:
We should be mindful, however, of the implications of the changes to the governance of the game which will compel greater sustainability and financial fair play (FFP). Major changes have been introduced in Europe around FFP regulations, including the newly launched UEFA financial sustainability rules, the full impact of which will be felt from season 2025/26. They are based on three pillars: solvency, stability and cost control and clubs will have three seasons to adjust to them. Many expect that these new rules will be a game changer for the sport. We should also allow for the possibility of even tighter regulations.


Also repeated in the annual reports. Levy wants clubs to be run sustainably, it's no secret.

 

[Danishfurniturelover]

Curious about what it is Levy has "trotted out" about FFP myself.

People keep asking for more information from Levy. More communication, more openness. Including the Trust.

My impression at least is that there's very little Levy can say without it ended up being misrepresented, taken out of context or read with nothing like good assumptions by many of our fans.

They just want more money spent, little children.

I honestly believe if you are careful you can get a good team just through sales.

 

[Grays_1890]

From the letter to the supporters trust:
We should be mindful, however, of the implications of the changes to the governance of the game which will compel greater sustainability and financial fair play (FFP). Major changes have been introduced in Europe around FFP regulations, including the newly launched UEFA financial sustainability rules, the full impact of which will be felt from season 2025/26. They are based on three pillars: solvency, stability and cost control and clubs will have three seasons to adjust to them. Many expect that these new rules will be a game changer for the sport. We should also allow for the possibility of even tighter regulations.


Also repeated in the annual reports. Levy wants clubs to be run sustainably, it's no secret.

Exactly, but he hasn't made out we are flirting close to FFP as an excuse not to spend, just says we remain mindful of it. Others make out he churns out FFP as a constant excuse when the bloke rarely speaks in public and hasn't used it either.

If its not one thing it's another I suppose

Sent from my SM-A127F using Fapatalk

 

[Lilbaz]

Exactly, but he hasn't made out we are flirting close to FFP as an excuse not to spend, just says we remain mindful of it. Others make out he churns out FFP as a constant excuse when the bloke rarely speaks in public and hasn't used it either.

If its not one thing it's another I suppose

Sent from my SM-A127F using Fapatalk

We are spending and have been for a while.

 

[ricky2tricky4city]

From the letter to the supporters trust:
We should be mindful, however, of the implications of the changes to the governance of the game which will compel greater sustainability and financial fair play (FFP). Major changes have been introduced in Europe around FFP regulations, including the newly launched UEFA financial sustainability rules, the full impact of which will be felt from season 2025/26. They are based on three pillars: solvency, stability and cost control and clubs will have three seasons to adjust to them. Many expect that these new rules will be a game changer for the sport. We should also allow for the possibility of even tighter regulations.


Also repeated in the annual reports. Levy wants clubs to be run sustainably, it's no secret.

The irony with this is, without your Spurs head on, and with your football head on you should want this for the good of football. As we hope UEFA, PL, FA, all organisations with a care for the health of football do. Sustainability, to eliminate 'keeping up with the joneses', a leveller playing field, success based on good decision making, smart thinking, clever people.

A further irony to the naysayers, imagine becoming a top table club with none of these FFP in place?

 

[Baleforce]

FFP limits and high wages to turnover ratio shouldn't be seen as targets to hit

it's like going to the dentist and expecting a pat on the head for only having half as much sugar as fat frank

 

[Grays_1890]

FFP limits and high wages to turnover ratio shouldn't be seen as targets to hit

it's like going to the dentist and expecting a pat on the head for only having half as much sugar as fat frank

Exactly that, and especially as the club still has bank debt to pay back, there is a middle.

The fact we are spending well now should be an indicator that we are moving forward, we don't have to flirt with FFP to prove it

 

[Surfless]

A year or so back I posted a proper long winded assessment of the club's ascent from penniless also rans in the mid nineties to today when we're arguably one of the 10 most valuable clubs in the world. I can imagine for younger fans, especially those who have only known us in the EPL era, who have seen Abramovic then the middle east money distort the market, it must be hard to understand the club's position on finance - we're self sufficient and profitable in a way so, so many of the other clubs in the football pyramid can only dream about.

We are arguably the most financially prudently run club in world football - if the Emirates Marketing Project saga leads to a set of rules which are designed to control financial doping and overbearing overseas interest in EPL, our prudence as a financial entity will likely see us climb to the top of the tree at the expense of the doping clubs.

Making no allowance for ability and based on simple statistics:

We have a 5% chance of winning the EPL
We have a 1.087% chance of winning the League Cup
We have a 0.81% chance of winning the FA Cup
We have a 3.25% chance of winning the Europa League (subject to qualification)
We have a 3.25% chance of winning the Champions League (subject to qualification)

Even if you discount half the teams in the league, and cups its still 10% or less at best we win something.

Its not easy to win stuff, many many clubs have tried and financially failed.

I'm firmly in the camp of not hating ENIC. I would love new investment but would need to have it in blood that we were going to continue to be run properly. I've no desire to become a Leeds, Portsmouth or now Everton.

 

[Lemonade Money]

FFP limits and high wages to turnover ratio shouldn't be seen as targets to hit

it's like going to the dentist and expecting a pat on the head for only having half as much sugar as fat frank

Was thinking the same. People are asking Levy to hit 90%, so he's got the problem of hitting 80% the next year, 70% the next...
The irony of idiots telling Levy how to run a business.

 

[MKSpur]

FFP limits and high wages to turnover ratio shouldn't be seen as targets to hit

it's like going to the dentist and expecting a pat on the head for only having half as much sugar as fat frank

More sugar = more fillings = more silverware

 

[DaveT316]

A year or so back I posted a proper long winded assessment of the club's ascent from penniless also rans in the mid nineties to today when we're arguably one of the 10 most valuable clubs in the world. I can imagine for younger fans, especially those who have only known us in the EPL era, who have seen Abramovic then the middle east money distort the market, it must be hard to understand the club's position on finance - we're self sufficient and profitable in a way so, so many of the other clubs in the football pyramid can only dream about.

We are arguably the most financially prudently run club in world football - if the Emirates Marketing Project saga leads to a set of rules which are designed to control financial doping and overbearing overseas interest in EPL, our prudence as a financial entity will likely see us climb to the top of the tree at the expense of the doping clubs.

Making no allowance for ability and based on simple statistics:

We have a 5% chance of winning the EPL
We have a 1.087% chance of winning the League Cup
We have a 0.81% chance of winning the FA Cup
We have a 3.25% chance of winning the Europa League (subject to qualification)
We have a 3.25% chance of winning the Champions League (subject to qualification)

Even if you discount half the teams in the league, and cups its still 10% or less at best we win something.

Its not easy to win stuff, many many clubs have tried and financially failed.

I'm firmly in the camp of not hating ENIC. I would love new investment but would need to have it in blood that we were going to continue to be run properly. I've no desire to become a Leeds, Portsmouth or now Everton.

“…most financially prudently run club in world football… you’ll never sing that!!!”

 

[Lemonade Money]

More sugar = more fillings = more silverware

Less sugar = more Levy.

 

[Bedfordspurs]

If he keeps making bad appointments and recruitments he will destroy the club.

Moshiri isn't a bad owner?...but some say ours are?

I don’t think either is

 

[Finney Is Back]

People keep saying this as if it means we don’t have to pay any cash for the stadium. Don’t we have a plan to pay off the remaining loan balance over 23 years? Which I appreciate means a lower annual figure than the depreciation figure, but I’d imagine it will still require a lower ratio of wage + amortisation : revenue than other clubs, won’t it?

We don't HAVE to, no. We might CHOOSE to.... Though at present the club are not.

The club could choose to pay none, some or all of the debt. The bond is payable at maturity. The club may or may not look to pay it off or just refinance at term.

 

[Lilbaz]

We don't HAVE to, no. We might CHOOSE to.... Though at present the club are not.

The club could choose to pay none, some or all of the debt. The bond is payable at maturity. The club may or may not look to pay it off or just refinance at term.

What would your best guess be to how we fit into the new spending rules? Percentage wise. Considering coaching staff costs and new signings?

 

[elltrev]

We don't HAVE to, no. We might CHOOSE to.... Though at present the club are not.

The club could choose to pay none, some or all of the debt. The bond is payable at maturity. The club may or may not look to pay it off or just refinance at term.

Ah fair enough. I guess personally I can’t be annoyed at Levy for maintaining a low ratio of wage/amortisation : revenue if the purpose of that is to pay off the stadium debt. Which I assume it is.