ENIC

[Lemonade Money]

How much of the nepo's personal wealth have they invested in THFC? Or have these two £100m injections come from loans?

 

[MartyFunkhouser]

Sorry but I just don't think that adds up.

He literally scaled the spending to what we had to spend, the idea he would not have spent more is the idea that literally does not add up.

Levy had sole control of how Spurs spent their money. He had loaded the board with 'yes men' (and women) so that he could be sole decision maker. Joe Lewis was happy with this because, as I said before, his net worth was growing nicely (along with Levy's).

When ownership transferred to Joe Lewis' children the ambition changed. Having an ambition of winning as many trophies as possible probably doesn't tie in very well with an ambition of growing net worth as much as possible. Levy effectively had complete control over how the club spent it's money. Therefore the new owners brought in new people to dilute Levy's power and then ousted him. They now have a CEO who is aligned to their (new) objectives.

The bold part is not true though, he had control over what he was allowed to spend and what the owners and their accountants would allow. I don't really rate Harry Redknapp for his story telling but I know you do, he literally confirmed that the clubs accountants were making financial decisions and suggestions to Levy on what they could do. If you don't think this was further complicated with the stadium debt then I think you are being disingenuous because you are clearly a smart guy. But also equally again, we spent a fortune in money based on the clubs finances increasing, which increased because of Levys work commercially and developing us into a financial powerhouse in PL terms.

I also don't believe the clubs not for sale and I think this spending is as much to do with this being a push to inflate the clubs standing in that respect. I am pretty confident I will be proven right on that within the next 3/5 years.

 

[billyiddo]

I like how in the space of a few months "can't judge the new owners for at least 5 years" has been turned on it's head because we appear to have done something positive

 

[robp135]

How much of the nepo's personal wealth have they invested in THFC? Or have these two £100m injections come from loans?

Close to £300M now which is 6x what the Dad put in.

 

[parklane1]

There are loads and loads of possibilities to it. I don't agree with the idea that they wanted to spend more and Levy didn't which is being bandied about, people been watching too many militant Spurs YT channels

Haters have to hate for sure.

 

[SissokoWasGood (BoL)]

He literally scaled the spending to what we had to spend, the idea he would not have spent more is the idea that literally does not add up.



The bold part is not true though, he had control over what he was allowed to spend and what the owners and their accountants would allow. I don't really rate Harry Redknapp for his story telling but I know you do, he literally confirmed that the clubs accountants were making financial decisions and suggestions to Levy on what they could do. If you don't think this was further complicated with the stadium debt then I think you are being disingenuous because you are clearly a smart guy. But also equally again, we spent a fortune in money based on the clubs finances increasing, which increased because of Levys work commercially and developing us into a financial powerhouse in PL terms.

I also don't believe the clubs not for sale and I think this spending is as much to do with this being a push to inflate the clubs standing in that respect. I am pretty confident I will be proven right on that within the next 3/5 years.

I think that ‘scaling the spending’ clearly wasn’t enough. I don’t disagree that on a net spend basis it looks like we spent more under Levy, although I would also add it was at a moment where the cycle of the team had to be rebuilt, so it was always likely to go higher.

The issue with Levy, which I think he proved last summer, is that he couldn’t execute a strategy to compete in the market as a top club. Which is why, even if we end this summer at about even net spend, it’s still been a massive step change for the better because of what we’ve shown through our actions.

We are moving decisively and we are paying the wages. Clearly there was an attempt to do this last summer too, but we got completely embarrassed- TWICE! - in deals that didn’t go through. I don’t know for sure but I truly believe Levy shat the bed on the chance he was given last summer and that is why he had to go. He showed himself to be incompatible with where the kids wanted to take the club.

We have seen that top players will join us ahead of other big clubs. We have seen that players will leave other big clubs to join us. It just takes paying the money, acting decisively and being willing to pay the wages. It is frankly ridiculous that we went along with the big, beautiful stadium and highest prices in the country and still couldn’t act like a top club until this summer.

My view is: it’s not just about the amounts of money, it’s about how you move in the market. Levy fell well short on that, and his playbook ran out of road.

 

[SissokoWasGood (BoL)]

i wonder why we could not execute earlier though. maybe its got to do with levy's minority but still significant holdings.

I genuinely think last summer, with Vinai settled in and the kids really in control, the intention was to push on like we have done this time. I think then they were willing to do whatever financial engineering they needed to do to be able to increase the wage budget and to have money available earlier in the window (some of this borrowing against future earnings stuff may have come into it, as well as obviously the cash injections).

I simply don’t think Levy was capable. And I think they realised that keeping him in his role would have held us back from what we wanted to do. Having MGW and Eze mess up so publicly I would imagine was a final straw for them.

 

[robp135]

Sorry but I just don't think that adds up.

Levy had sole control of how Spurs spent their money. He had loaded the board with 'yes men' (and women) so that he could be sole decision maker. Joe Lewis was happy with this because, as I said before, his net worth was growing nicely (along with Levy's).

When ownership transferred to Joe Lewis' children the ambition changed. Having an ambition of winning as many trophies as possible probably doesn't tie in very well with an ambition of growing net worth as much as possible. Levy effectively had complete control over how the club spent it's money. Therefore the new owners brought in new people to dilute Levy's power and then ousted him. They now have a CEO who is aligned to their (new) objectives.

Joe Lewis could have pulled the plug at any time like the kids did. But Levy ran it the way Joe wanted and they align because Levy was Joe's protege and they largely think the same way about business. As I understand Levy did at times express the need to invest more on the pitch and Joe did not support that.

 

[robp135]

I genuinely think last summer, with Vinai settled in and the kids really in control, the intention was to push on like we have done this time. I think then they were willing to do whatever financial engineering they needed to do to be able to increase the wage budget and to have money available earlier in the window (some of this borrowing against future earnings stuff may have come into it, as well as obviously the cash injections).

I simply don’t think Levy was capable. And I think they realised that keeping him in his role would have held us back from what we wanted to do. Having MGW and Eze mess up so publicly I would imagine was a final straw for them.

You are right about this. The club wanted to be ambitious last summer and Levy could not deliver on that. Thats why he was so desperate to get the Xavi Simmons deal done.

 

[robp135]

I like how in the space of a few months "can't judge the new owners for at least 5 years" has been turned on it's head because we appear to have done something positive

Who was saying that? People wanted them gone after 1 bad window.

 

[MartyFunkhouser]

I think that ‘scaling the spending’ clearly wasn’t enough. I don’t disagree that on a net spend basis it looks like we spent more under Levy, although I would also add it was at a moment where the cycle of the team had to be rebuilt, so it was always likely to go higher.

The issue with Levy, which I think he proved last summer, is that he couldn’t execute a strategy to compete in the market as a top club. Which is why, even if we end this summer at about even net spend, it’s still been a massive step change for the better because of what we’ve shown through our actions.

No we didn't

We are moving decisively and we are paying the wages. Clearly there was an attempt to do this last summer too, but we got completely embarrassed- TWICE! - in deals that didn’t go through. I don’t know for sure but I truly believe Levy shat the bed on the chance he was given last summer and that is why he had to go. He showed himself to be incomagents patible with where the kids wanted to take the club.

I think thats a massive simplifying of what were two massively complex deals. Eze deal where we, ok, should have moved on, but were working around agents leveraging clubs AND, TBH I can't believe we are having to go over it again, the MGW deal where I suspect had he not had family issues which were pushed and played on by their owner he likely would have joined. There is absolutely no way we were embarrassed by the MGW deal, I don't feel that at all, its football it happens.

We have seen that top players will join us ahead of other big clubs. We have seen that players will leave other big clubs to join us. It just takes paying the money, acting decisively and being willing to pay the wages. It is frankly ridiculous that we went along with the big, beautiful stadium and highest prices in the country and still couldn’t act like a top club until this summer.

My view is: it’s not just about the amounts of money, it’s about how you move in the market. Levy fell well short on that, and his playbook ran out of road.

But the point being that money has now been made more readily available. Do you honestly think levy was not spending money on wages because he wanted to be frugal or spiteful towards the club he had helped to build for success OR do you think its more likely there were instructions on what could be spent and the paymasters, the accountants and excel sheets that generally govern a club who were set up at the time to spend what they earn?




I mean I know we like to all think we make better owners, managers players etc, but hard to not take it from people in the game (ref above screen shots)

Ultimately I think what we are doing now is great, I temper that with caution because we are clearly paying over the odds on fees and the fact we are borrowing high interest loans on future earnings means they simply have to work. I think to use this as a stick to beat Levy with (there are plenty of other things) is ridiculous considering, when its all said and done, we have the same ownership we had for 25 years.

Anyway its been done to death and I am boring myself let alone all the other poor posters. People can believe what they want, in my experience of supporting this club, everyone loves a villain regardless if they deserve it or not

 

[Gazza]

I like how in the space of a few months "can't judge the new owners for at least 5 years" has been turned on it's head because we appear to have done something positive

I think it’s the direction and mode of spending that’s got people becoming positive. I didn’t see this coming. I love that our net spend is so low currently