The Official Tottenham Hotspur Thread [Vol 7]
Discussion
ascayman said:
London424 said:
What's he going to come out and say? Surely everyone knows that with a stadium to build money is a bit tight. Sure, if in a few years time the club is up to its eye balls in debt and the stadium hasn't been built and we're in the bottom half of the table have a moan, but until then can't we give him the benefit of the doubt?
Where is the money then tell me that? its not on the balance sheet. He could quite easily say that the reason we haven't spent a penny in the last 5 years whilst our competitors have been spending 100's of millions is because we are tucking money away to pay for our stadium so we don't have to saddle ourselves with a load of debt. Any reasonable fan would understand that completely, but he hasn't, instead he's left us with a weak squad unfit for purpose with three games already gone and less than a week left before the window shuts..... again! The only real weakness with the squad is Striker, but he only sold Soldado last week so was hardly going to be spunking money up the wall on more of them.
London424 said:
He's shifted out almost all of the players that Poch doesn't want and he's got in 5 new players already. How many do you want every season? 7, 10, 15?
The only real weakness with the squad is Striker, but he only sold Soldado last week so was hardly going to be spunking money up the wall on more of them.
We knew we needed a striker the day the window opened we only have one for crying out loud and he is a rookie, we are now three games into the season (nearly four) and are no better off, no one could convince me that that isn't anything other than incompetence. Other than VDV I cant even remember another last minute signing that's actually worked for us, can you? so why do we do we leave it to the last minute year after year after year? The only real weakness with the squad is Striker, but he only sold Soldado last week so was hardly going to be spunking money up the wall on more of them.
As for the players he's shipped out yeah well done for flogging them on (at a loss in many cases) but don't forget he bought them in the first place as well and usually at the last minute.
ascayman said:
London424 said:
He's shifted out almost all of the players that Poch doesn't want and he's got in 5 new players already. How many do you want every season? 7, 10, 15?
The only real weakness with the squad is Striker, but he only sold Soldado last week so was hardly going to be spunking money up the wall on more of them.
We knew we needed a striker the day the window opened we only have one for crying out loud and he is a rookie, we are now three games into the season (nearly four) and are no better off, no one could convince me that that isn't anything other than incompetence. Other than VDV I cant even remember another last minute signing that's actually worked for us, can you? so why do we do we leave it to the last minute year after year after year? The only real weakness with the squad is Striker, but he only sold Soldado last week so was hardly going to be spunking money up the wall on more of them.
As for the players he's shipped out yeah well done for flogging them on (at a loss in many cases) but don't forget he bought them in the first place as well and usually at the last minute.
We don't leave all signings to the last minute year after year. Yes, we do buy players right up to the deadline, but so does every other club. You make it seem like we are an anomoly here.
blindswelledrat said:
ascayman said:
Other than that he's Mustard!
Fair enough.To put it a different way:
Despite having the lowest transfer spend in the premier league his decision making has ensured that we still finish in the top 6 whilst making enough money to build our new stadium at which point he could well turn us into a title contender.
This is the camp I fall into. I think he is brilliant, although when the stadium is built, if it turns out we have to borrow most of it still, and all this non-spending has found its way to ENIC rather than Spurs I will definitely feel 100% differently.
ascayman said:
Where is the money then tell me that? its not on the balance sheet.
This is what you guys should be worrying about IMO. It was discussed in some depth a while ago with me giving some accountancy pointers. You should be seeing a pile of cash sitting there if TV money has been hoarded rather than spent on player net spend. Not sure if THFC is a subsidiary of ENIP as its possible dividends (ie the THFC cash pile) could have been paid up to group, and group will gift it back when stadium bills are due. But that is not typical behaviour.Edited by Adam B on Wednesday 26th August 23:35
Loads of decent sources saying that this Heung-Min Son deal is done, he had his medical yesterday.
I didn't know anything about him before today but he's record & u tube clips look pretty decent. i'm not overly sold on that chap from West Brom & i thought £15M was far too much for him let alone the ridiculous £30M they seem to think he's worth.
Onwards & upwards & come on you Spurs.
I didn't know anything about him before today but he's record & u tube clips look pretty decent. i'm not overly sold on that chap from West Brom & i thought £15M was far too much for him let alone the ridiculous £30M they seem to think he's worth.
Onwards & upwards & come on you Spurs.
Adam B said:
ascayman said:
Where is the money then tell me that? its not on the balance sheet.
This is what you guys should be worrying about IMO. It was discussed in some depth a while ago with me giving some accountancy pointers. You should be seeing a pile of cash sitting there if TV money has been hoarded rather than spent on player net spend. Not sure if THFC is a subsidiary of ENIP as its possible dividends (ie the THFC cash pile) could have been paid up to group, and group will gift it back when stadium bills are due. But that is not typical behaviour.Edited by Adam B on Wednesday 26th August 23:35
I'm not too worried about it to be honest. I don't see things changing massively either way.
London424 said:
Adam B said:
ascayman said:
Where is the money then tell me that? its not on the balance sheet.
This is what you guys should be worrying about IMO. It was discussed in some depth a while ago with me giving some accountancy pointers. You should be seeing a pile of cash sitting there if TV money has been hoarded rather than spent on player net spend. Not sure if THFC is a subsidiary of ENIP as its possible dividends (ie the THFC cash pile) could have been paid up to group, and group will gift it back when stadium bills are due. But that is not typical behaviour.Edited by Adam B on Wednesday 26th August 23:35
I'm not too worried about it to be honest. I don't see things changing massively either way.
London424 said:
I'm not an accountant, so I'm not sure how football clubs record things like infrastructure spending. For example when the training ground was recently built (£50 millions worth), there certainly wasn't money built up ahead of time to pay for it, and there hasn't been any additonal debt saddled on the club either, yet it exists.
I'm not too worried about it to be honest. I don't see things changing massively either way.
A football club follows the same accounting rules as any other company. If a company of THFC size spent £50m on infrastructure in a single year you would certainly see a noticeable change in the balance sheet.I'm not too worried about it to be honest. I don't see things changing massively either way.
In simple terms the £50m has to come from somewhere, usually
1. Borrowing - in BS fixed assets up 50m, long term debt up 50m
2. From asking shareholders for cash - fixed assets up 50m, shareholder equity up by 50m
3. From profits - fixed assets up 50m, cash down 50m
HTH
To add - if someone posts a picture or link of the two BS (year end and year before - usually shown side by side) and the accompanying notes would be happy to take a look out of professional curiosity
Edited by Adam B on Thursday 27th August 10:47
Adam B said:
London424 said:
I'm not an accountant, so I'm not sure how football clubs record things like infrastructure spending. For example when the training ground was recently built (£50 millions worth), there certainly wasn't money built up ahead of time to pay for it, and there hasn't been any additonal debt saddled on the club either, yet it exists.
I'm not too worried about it to be honest. I don't see things changing massively either way.
A football club follows the same accounting rules as any other company. If a company of THFC size spent £50m on infrastructure in a single year you wouldn't certainly see a noticeable change in the balance sheet.I'm not too worried about it to be honest. I don't see things changing massively either way.
In simple terms the £50m has to come from somewhere, usually
1. Borrowing - in BS fixed assets up 50m, long term debt up 50m
2. From asking shareholders for cash - fixed assets up 50m, shareholder equity up by 50m
3. From profits - fixed assets up 50m, cash down 50m
HTH
There is still 14 mil of the training ground still to be paid.
There was also a 20 million loan taken out during the year, but that was also repaid that same year in full.
The club have spent and accounted for almost 41 million for the NDP.
There is an interesting paragraph in the 'Going Concern' section. I can't copy and paste but one of the sentences is "The Board of Directors acknowledges that the the capital structure of the business will change as the NDP progresses, and is satisfied the necesary level of funding can be obtained."
ETA: Here's a link http://www.tottenhamhotspur.com/uploadedFiles/Shar...
ascayman said:
Where is the money then tell me that? its not on the balance sheet. He could quite easily say that the reason we haven't spent a penny in the last 5 years whilst our competitors have been spending 100's of millions is because we are tucking money away to pay for our stadium so we don't have to saddle ourselves with a load of debt. Any reasonable fan would understand that completely, but he hasn't, instead he's left us with a weak squad unfit for purpose with three games already gone and less than a week left before the window shuts..... again!
This is why I put the proviso at the end of my post.You're right, it doesn't seem to be on the balance sheet or the p&l and a little bit of me is suspicious as to why. Or where it is. Or if it even exists. Or even how much IS 'the money'.
London424 said:
I've been reading through and think I've found a few bits and pieces.
There is still 14 mil of the training ground still to be paid.
There was also a 20 million loan taken out during the year, but that was also repaid that same year in full.
The club have spent and accounted for almost 41 million for the NDP.
There is an interesting paragraph in the 'Going Concern' section. I can't copy and paste but one of the sentences is "The Board of Directors acknowledges that the the capital structure of the business will change as the NDP progresses, and is satisfied the necesary level of funding can be obtained."
ETA: Here's a link http://www.tottenhamhotspur.com/uploadedFiles/Shar...
Which all fuels the fire of my suspicions that all this lack of spending hasn't created 'the money' in which case he is a terrible chairman. He has spunked tens or hundreds of millions of pounds on pretty much nothing. If true.There is still 14 mil of the training ground still to be paid.
There was also a 20 million loan taken out during the year, but that was also repaid that same year in full.
The club have spent and accounted for almost 41 million for the NDP.
There is an interesting paragraph in the 'Going Concern' section. I can't copy and paste but one of the sentences is "The Board of Directors acknowledges that the the capital structure of the business will change as the NDP progresses, and is satisfied the necesary level of funding can be obtained."
ETA: Here's a link http://www.tottenhamhotspur.com/uploadedFiles/Shar...
blindswelledrat said:
London424 said:
I've been reading through and think I've found a few bits and pieces.
There is still 14 mil of the training ground still to be paid.
There was also a 20 million loan taken out during the year, but that was also repaid that same year in full.
The club have spent and accounted for almost 41 million for the NDP.
There is an interesting paragraph in the 'Going Concern' section. I can't copy and paste but one of the sentences is "The Board of Directors acknowledges that the the capital structure of the business will change as the NDP progresses, and is satisfied the necesary level of funding can be obtained."
ETA: Here's a link http://www.tottenhamhotspur.com/uploadedFiles/Shar...
Which all fuels the fire of my suspicions that all this lack of spending hasn't created 'the money' in which case he is a terrible chairman. He has spunked tens or hundreds of millions of pounds on pretty much nothing. If true.There is still 14 mil of the training ground still to be paid.
There was also a 20 million loan taken out during the year, but that was also repaid that same year in full.
The club have spent and accounted for almost 41 million for the NDP.
There is an interesting paragraph in the 'Going Concern' section. I can't copy and paste but one of the sentences is "The Board of Directors acknowledges that the the capital structure of the business will change as the NDP progresses, and is satisfied the necesary level of funding can be obtained."
ETA: Here's a link http://www.tottenhamhotspur.com/uploadedFiles/Shar...
London424 said:
But how can he be a terrible chairman? Money doesn't just evaporate, so if it isn't there then it doesn't exist. I'm quite happy that he hasn't been spending more than is coming in, I don't want to be a Leeds or a Portsmouth!
Well if the huge influx of premier league money gets spent on costs that aren't players or assets then he is definitely doing something very wrong.blindswelledrat said:
London424 said:
But how can he be a terrible chairman? Money doesn't just evaporate, so if it isn't there then it doesn't exist. I'm quite happy that he hasn't been spending more than is coming in, I don't want to be a Leeds or a Portsmouth!
Well if the huge influx of premier league money gets spent on costs that aren't players or assets then he is definitely doing something very wrong.Gassing Station | Football | Top of Page | What's New | My Stuff