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ENIC

Glenda's Legs said:
I'd have thought you would just have to pay up whatever was left on the contract, regardless of when the firing happened.
Sounds like another anti-Levy conspiracy theory.
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I guess it might be like overpaying a repayment mortgage; different penalty %s based on how many years left.
People do say quite often that the manager gets completely paid up i.e. all basic salary for all remaining months, but I don't know if that is true or why that has to be true; surely someone like Levy would add a release clause to any contract whereby a sacked manager gets a certain amount?
If Ange stank the place out and was sacked after 5 games, he wouldn't expect his ENTIRE wage for years and years to be paid out, surely?
 
Glenda's Legs said:
Is that really the case? I wasn't aware of that. Why would that be a requirement (presumably it isn't for any of the other venues)?
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I assume its for use of FIFA staff, match officials and the press etc. Most other stadiums have suitable accommodation nearby or as part of the stadium complex. I doubt Infantino and co would put up with the Travelodge off the North Circular.
 
Glenda's Legs said:
That would make sense. I read @Gutter Boy's "contractually obliged to provide it" as if it were a part of the venue facilities we had committed to make available. Which would be odd considering the gap between the number of people it could accommodate vs the number of spectators attending.
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Yeah, sorry. I meant as part of the stadium's infrastructure. Not to contribute to capacity for fans.

We probably had to pull all the stops out to get the second London gig ahead of West Ham or Arsenal (with similar capacities and better transport)
 
Gutter Boy said:
I assume its for use of FIFA staff, match officials and the press etc. Most other stadiums have suitable accommodation nearby or as part of the stadium complex. I doubt Infantino and co would put up with the Travelodge off the North Circular.
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I’d be amazed if any of them stayed in Tottenham at all. They’ll all be ferried back to their central London hotels.
 
The hotel has started
They have dug freaking holes in the ground and have materials in place
Any talk of that stopping is complete fabrication IMO
Lee McQueen gets his info or at least some of it via Alan Sugar. Now sugar would be a good source but I’m not sure he would have all the inside track anymore
 
Lilbaz said:
Erm isn't levy chair of enic aswell? So he brought in his own troubleshooter?
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Charington isn’t an ENIC troubleshooter, he is one that Lewis’ Tavistock group have used. He is a restructuring expert so some of the predictions could be true. I suspect the new CEO is a Charington appointment, hasn’t taken him long to bring in a capable CEO.
 
Finney Is Back said:
Charington isn’t an ENIC troubleshooter, he is one that Lewis’ Tavistock group have used. He is a restructuring expert so some of the predictions could be true. I suspect the new CEO is a Charington appointment, hasn’t taken him long to bring in a capable CEO.
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TBF he was a London based guy readily available with a lot of experience so the choice would have been easy
Almost like united getting the guy in from city
 
Grays_1890 said:
Just to say the money for the hotel is ringfenced with loans and 3rd party investment, no hotel and that money is off the table. Would literally be fraud to take money and spend it on players and wages.

They might delay it and look at refinancing their loans and workign on their financial position, but they literally cant take money for the hotel and spend it on players

As for the Euros, not saying the hotel was obligatory but infrastructure would be, not sure if they consider Tottenham as London interms of heads on beds adequacy, so would probably have played some part


Anyway thats def me for the summer, I will laugh in my morning coffee reading people take one upmanship battles on who is the better fan on the Ange departs thread.........golden
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Sorry but you have no idea how THFC’s debt is financed.
 
Finney Is Back said:
Sorry but you have no idea how THFC’s debt is financed.
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Well its very public considering it was in the original financing report about the stadium before it was even built, secondly the club had to put money into the club for player transactions/wages recently, thirdly until their is 3rd party investment which nearly every hotel in the world relies on to be built, there is likely alot less money for the hotel held by the club than people think and even if that 3rd party is Tavistock there is no way they put capital in to be spent on players.
 
Aren't Hotel builds usually financed by the hotel chain themselves - I'd imagine the clubs outlay would amount to a nominal amount to purchase the land (negligable here as part of the stadium land purchase) and maybe some early enabling works.
 
billyiddo said:
Aren't Hotel builds usually financed by the hotel chain themselves - I'd imagine the clubs outlay would amount to a nominal amount to purchase the land (negligable here as part of the stadium land purchase) and maybe some early enabling works.
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Depends, some hotel chains own outright (rare), many have a stake (usually 20/30%) but most franchise for large investment companies, or you just come in operationally and run the hotel, they call it "flagging" and they take a % of the operational profit, if it goes bad, they get de-flagged and another hotel operator comes in and run them.

But ultimately you are right because there would be a top up of 3rd party money either the investment company and or the hotel brand, so the idea there is a pot of gold to spend if the development stops is funny. If as I say it was Tavistock as the 3rd party investor I would hazard a guess that they would want the real estate value like they do with their other hotels and they will get a hotel chain to run it.

If anything it would be more concentration of operational focus on the footballing side than money.
 
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Grays_1890 said:
Depends, some hotel chains own outright (rare), many have a stake (usually 20/30%) but most franchise for large investment companies, so just come in operationally and run the hotel, they call it "flagging" and they take a % of the operational profit, if it goes bad, they get de-flagged and another hotel operator comes in and run them.

But ultimately you are right because there would be a top up of 3rd party money either the investment company and or the hotel brand, so the idea there is a pot of gold to spend if the development stops is funny. If as I say it was Tavistock as the 3rd party investor I would hazard a guess that they would want the real estate value like they do with their other hotels and they will get a hotel chain to run it.

If anything it would be more concentration of operational focus on the footballing side than money.
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If we’re still speculating on Lee McQueen’s comments on LWOS, your last paragraph sums up what he was implying were the reasons behind the boardroom changes, I think. It is, according to what he has heard, about signalling a refocus on what happens on the pitch as the primary concern of the football club.

Whether any of it is true or not we shall see in the coming weeks.
 
Mikey10 said:
If we’re still speculating on Lee McQueen’s comments on LWOS, your last paragraph sums up what he was implying were the reasons behind the boardroom changes, I think. It is, according to what he has heard, about signalling a refocus on what happens on the pitch as the primary concern of the football club.

Whether any of it is true or not we shall see in the coming weeks.
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Cheers fella

I don't listen to any podcasts bar this groups, underthecosh and the Richard Osman one about the entertainment industry (highly recommended btw)
 
billyiddo said:
Aren't Hotel builds usually financed by the hotel chain themselves - I'd imagine the clubs outlay would amount to a nominal amount to purchase the land (negligable here as part of the stadium land purchase) and maybe some early enabling works.
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This is an owner operator model I’ve been told
We own it
They operate it (whoever it is)
We get paid property “rent” basically
 
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