ENIC

[SirPercyHotspur]

There are loads of different valuations of clubs by different sources , Forbes has us at £2.4 billion that's half the valuation of Manure but higher than Chelsea. The Qataris baulked at paying that price for Manure , which judging by what Ratcliffe paid is not far off their value.

All the middle east buyers of English clubs so far have paid nowhere near those figures, are owners like ENIC and others unrealistic in what they want for clubs?

Forbes 2025 Global Soccer Team Valuations — Ranked List

See the ranking of the world's most valuable soccer teams, including Manchester United, Barcelona and Real Madrid—the sport's first club to cross $1 billion in revenue.

www.forbes.com

 

[Bedfordspurs]

There are loads of different valuations of clubs by different sources , Forbes has us at £2.4 billion that's half the valuation of Manure but higher than Chelsea. The Qataris baulked at paying that price for Manure , which judging by what Ratcliffe paid is not far off their value.

All the middle east buyers of English clubs so far have paid nowhere near those figures, are owners like ENIC and others unrealistic in what they want for clubs?

Forbes 2025 Global Soccer Team Valuations — Ranked List

See the ranking of the world's most valuable soccer teams, including Manchester United, Barcelona and Real Madrid—the sport's first club to cross $1 billion in revenue.

www.forbes.com

They aren’t to unrealistic as it’s their choice
It’s not like they need to sell

 

[Bishop]

And that is entirely his prerogative, nothing, absolutely nothing says ENIC has to sell at "a fair price" (to your point)

Chelsea set a huge outlier in evaluation, 4B+ for a fire sale on a club with sketchy ground ownership and in bad need of infrastructure rebuild means Spurs can/should ask more

I think success of the team and it's stature would play a part as well. Chelsea are simply a much bigger name than we are on the international stage and much more successful at the end of the day. I can see someone being willing to pay more of a premium for that than Spurs imo.

 

[Baleforce]

There are loads of different valuations of clubs by different sources , Forbes has us at £2.4 billion that's half the valuation of Manure but higher than Chelsea. The Qataris baulked at paying that price for Manure , which judging by what Ratcliffe paid is not far off their value.

All the middle east buyers of English clubs so far have paid nowhere near those figures, are owners like ENIC and others unrealistic in what they want for clubs?

Forbes 2025 Global Soccer Team Valuations — Ranked List

See the ranking of the world's most valuable soccer teams, including Manchester United, Barcelona and Real Madrid—the sport's first club to cross $1 billion in revenue.

www.forbes.com

I think the purchases have largely been opportunistic when clubs were financially precarious.

We are in rude health, that has to be worth more.

 

[SirPercyHotspur]

I think the purchases have largely been opportunistic when clubs were financially precarious.

We are in rude health, that has to be worth more.

It is true that when some of the clubs were sold they were financially less stable but when one of the world's most famous football clubs (Manure) couldn't find an outright buyer are the valuations too high.
Re our position, we are in good financial health but I believe any debt has to be taken into account when applying a valuation.

 

[Grays_1890]

It is true that when some of the clubs were sold they were financially less stable but when one of the world's most famous football clubs (Manure) couldn't find an outright buyer are the valuations too high.
Re our position, we are in good financial health but I believe any debt has to be taken into account when applying a valuation.

I think there is an element of the valuations being right but there not being buyers out there..........the global financial state is hardly in great shape at the moment.

 

[SirPercyHotspur]

I think there is an element of the valuations being right but there not being buyers out there..........the global financial state is hardly in great shape at the moment.

I just wonder if middle east buyers want to pay in the billions for a football club, Toon, Man C and PSG were all purchased for quite low amounts, not sure if any other major clubs have had large middle east takeovers. Trying to research the Chelsea bids not sure if there were any middle east consortiums involved , all I can find are Americans and one British bid and Jassim thought Manure were overpriced, perhaps they want more value for their money.
I don't particularly want foreign owners so it will have to be Levy for the foreseeable unless Adele would like to put a bid in

 

[Grays_1890]

I just wonder if middle east buyers want to pay in the billions for a football club, Toon, Man C and PSG were all purchased for quite low amounts, not sure if any other major clubs have had large middle east takeovers. Trying to research the Chelsea bids not sure if there were any middle east consortiums involved , all I can find are Americans and one British bid and Jassim thought Manure were overpriced, perhaps they want more value for their money.
I don't particularly want foreign owners so it will have to be Levy for the foreseeable unless Adele would like to put a bid in

Yeh could be some truth in that.

Also Saudi went through a mediator, albeit to navigate the no Saudi stuff, but even their process was, in the words of PIF, a cheaper access route into the sport, whilst getting the riches and access route through TV and the deals.

From what I was told, which is why, for one of 100 reasons I don't trust the blokes words on that podcast, is the Qatari bid was a feeling out and for a smaller stake, not the whole club......they didn't want the whole thing yet.

 

[SirPercyHotspur]

From what I was told, which is why, for one of 100 reasons I don't trust the blokes words on that podcast, is the Qatari bid was a feeling out and for a smaller stake, not the whole club......they didn't want the whole thing yet.

Didn't listen to it all but the moment I heard him mention underground station I knew he didn't have a clue, the Victoria line extension has been as dead as a Dodo for years and if the Qataris do want to discuss the Underground they need to talk to Sadiq Khan and TFL not Levy.

 

[ricky2tricky4city]

I think there is an element of the valuations being right but there not being buyers out there..........the global financial state is hardly in great shape at the moment.

I just wonder if middle east buyers want to pay in the billions for a football club, Toon, Man C and PSG were all purchased for quite low amounts, not sure if any other major clubs have had large middle east takeovers. Trying to research the Chelsea bids not sure if there were any middle east consortiums involved , all I can find are Americans and one British bid and Jassim thought Manure were overpriced, perhaps they want more value for their money.
I don't particularly want foreign owners so it will have to be Levy for the foreseeable unless Adele would like to put a bid in

Realistically there is the Middle East and Tech bros.

And what I mean by that is people/companies/countries that have significant amounts of money but is insignificant to them when talking about 3-5bn when viewed through an '£ investment ' lense. ie the investment has higher priorities above the ROI.

With regards of price/valuation, one has to remember is it comes with a best in class new stadium. Building something similar today will cost 2bn+ and a complete ball ache. Chelsea, United and Saudi Sportswashing Machine all need that.

If you deduct our debt and built stadium value out of the asking price...you'd be lucky to ask for 1bn.

 

[Grays_1890]

Realistically there is the Middle East and Tech bros.

And what I mean by that is people/companies/countries that have significant amounts of money but is insignificant to them when talking about 3-5bn when viewed through an '£ investment ' lense. ie the investment has higher priorities above the ROI.

With regards of price/valuation, one has to remember is it comes with a best in class new stadium. Building something similar today will cost 2bn+ and a complete ball ache. Chelsea, United and Saudi Sportswashing Machine all need that.

If you deduct our debt and built stadium value out of the asking price...you'd be lucky to ask for 1bn.

I think mentioned on here before that many financial experts have had their say on our value one guy for Forbes in and interview said given the land owned, the property portfolio and the future proof of the business with its growing interests AND given the revenue times multiplier which many use to work out a companies value........he saw what we wanted as high but not out of this world..........

 

[Bullet]

Didn't listen to it all but the moment I heard him mention underground station I knew he didn't have a clue, the Victoria line extension has been as dead as a Dodo for years and if the Qataris do want to discuss the Underground they need to talk to Sadiq Khan and TFL not Levy.

He does mention Sadiq Khan. Listen to it all

 

[Bullet]

I think mentioned on here before that many financial experts have had their say on our value one guy for Forbes in and interview said given the land owned, the property portfolio and the future proof of the business with its growing interests AND given the revenue times multiplier which many use to work out a companies value........he saw what we wanted as high but not out of this world..........

Listen to this pod where a finance guy discusses many different ways of valuing THFC

S2E48 | Behind the Curtain at Spurs: Ownership, Power & PSR

Podcast Episode · The Lab (Tottenham Hotspur Podcast) · 03/07/2025 · 1h 14m

podcasts.apple.com

 

[ricky2tricky4city]

I think mentioned on here before that many financial experts have had their say on our value one guy for Forbes in and interview said given the land owned, the property portfolio and the future proof of the business with its growing interests AND given the revenue times multiplier which many use to work out a companies value........he saw what we wanted as high but not out of this world..........

The revenue multiplier is a weird one with football clubs...as you can increase the income but it all goes out the door, with no guarantees it ups your competitive.
Of course, that's all relative to other clubs BUT different to other business sectors.

 

[SirPercyHotspur]

He does mention Sadiq Khan. Listen to it all

He has more info on the subject than I gave him credit for then . The Victoria line has the most frequent train service of any line in the UK and apparently the second most frequent in the world , at busy times one train every 100 seconds on average so it certainly looks like you couldn't add in any more trains .
If an extention was built from Seven Sisters to NP or wherever this would be detrimental to the service between SS and Walthamstow Central as some northbound trains would serve the extension so causing overcrowding at busy times on Walthamstow bound trains and it's an unknown what sort of frequency of trains could be maintained on any such extension. TFL have considered the requests for an extension in the past but have always come to the same conclusion that north Tottenham is well served by two overground lines and it can't be justified, it may change in the future but it won't be any time soon.

 

[Gazza]

He does mention Sadiq Khan. Listen to it all

Oh mercy anyone that wants a chat with that idiot …

 

[Craig_J]

I won't lie I personally feel guilty because we have won a Europa which I will eternally be grateful for but right now I feel so bored with football.

It might just be an affect of the break but I usually would be all up for summer transfers and the excitment of who may come.

Now I do feel increasingly bored with the game.

I kind of feel that there's an unbreakable status quo and that anyone on this forum (if forced to do so and given incentive for such a mundane task) will all be able to name whcih 5 clubs are going to win 80% of the trophies over the next decade with ease.

I feel greatly football no longer has any adventure. When I started supporting Spurs I grew up witnessing Abromovichs Chelsea and dealing with unfair advnatage so its not a suprise.

What I didn't account for though is that City and Saudi Sportswashing Machine would grow this long list of clubs who aren't big suddenly helping keep out other clubs on merrit.

 

[Craig_J]

Maybe its my age or something but I do feel this is the most disninterested I have ever felt as a footie fan.

Once the status quo has been estabslihed its not that much fun any longer.

Some clubs like Brentford and Brighton have really grown rapidy but we all know long term theres no way they keep pace with the rest of the league long enough to establish themselves. Anyone outside big 6 (now 7) will be lucky to even qualify 1 season.

 

[DaveT316]

I won't lie I personally feel guilty because we have won a Europa which I will eternally be grateful for but right now I feel so bored with football.

It might just be an affect of the break but I usually would be all up for summer transfers and the excitment of who may come.

Now I do feel increasingly bored with the game.

I kind of feel that there's an unbreakable status quo and that anyone on this forum (if forced to do so and given incentive for such a mundane task) will all be able to name whcih 5 clubs are going to win 80% of the trophies over the next decade with ease.

I feel greatly football no longer has any adventure. When I started supporting Spurs I grew up witnessing Abromovichs Chelsea and dealing with unfair advnatage so its not a suprise.

What I didn't account for though is that City and Saudi Sportswashing Machine would grow this long list of clubs who aren't big suddenly helping keep out other clubs on merrit.

I can really relate to this. I’m not sure if it’s the above, or shifting priorities in my personal life, specifically a growing family meaning less physical and mental bandwidth for football, but I’m definitely not engaged as I was a few years ago.

 

[Craig_J]

I can really relate to this. I’m not sure if it’s the above, or shifting priorities in my personal life, specifically a growing family meaning less physical and mental bandwidth for football, but I’m definitely not engaged as I was a few years ago.

Our own life situations obviously come into it and will always affect our enjoyment of any of our hobbies - no matter what they are.

I think for me perosnally I find it frustrating that football has become quite a predictable pattern. I mean there's always going to be patterns but compared to pre premier league (wasn't alive then but from what I have read) it has lost most of its fluidity.

I think one of the worst things too is its become so boring that even the fans of the victors don't actually appreciate their psotion for the most paet.

I spoke to a City fan last year who said they didn't actually care whether they were to win the league or not because they'd won it so often they didn't see much affect from it.

People from other clubs might say its jealousy but I feel I'd rather see Spurs finish bottom of the league than see football become a ridiculously hard to break pattern.