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Entries in ENIC (12)

Wednesday
Nov162011

D-Levy wants to D-List

Morning.

You'll have seen the financial results and club announcement from Spurs. We plan to 'de-list' the club from the Alternative Investment Market (AIM) and cease to be a public limited company, mainly for the reason that this (remaining a PLC) restricts us from gaining private investment in order to aid the NDP financially. A private company is the long and winding road we choose to skip down.

"It is clear to us that increasing the capacity of the Club's stadium is a key factor in the continued development and success of the Club and will involve the Company in considerable additional capital expenditure. Given this requirement, we believe that the AIM listing restricts our ability to secure funding for its future development. We are ambitious for the Club and have always taken the steps that we believe to be in its best interests." - Levy

The AGM is on December 13th, so the majority owners of ENIC will propose then that we are de-listed. Won't be an issue, ENIC own 82% of the shares (the remaining small shareholders will be able to sell their shares if they wish).

Long term, ENIC and Levy are positioning themselves for the money shot. Build a new stadium. Maximise potential profits. Sell the club.

No shocking revelation there. ENIC are an investment company with shareholders and as long as the club is left in a healthy state nobody is going to complain when the time comes for Levy to move on (other than myself as I'll have to register a new domain name and writing letters to Daniel will hardly be relevant if he's no longer at the helm). Although hopefully the caveat will stress 'do not sell to anyone with oil money and playboy traits'.

Point is, ENIC are custodians and there is little argument against the fact that we have (in terms of business) been run supremely well in recent years considering we are not a seasoned CL club and still play in a below 40k stadium. That's mainly down to Levy and the fact he has the Tottenham brand to play with and a massively loyaly fanbase to lean on. But that next step is imperative to the ethos of being unequivocally competitive with other clubs that are richer thanks to ticket revenue and over-priced Coca-Cola.

The following quote below doesn't quite inspire, although again this might simply be Levy's siege mentality on gaining the necessary monies the club needs to push the NDP into its phase of reality:

A financing package will need to include bank finance, enabling development and sponsorship. Quite clearly any significant, further investment by the Club would need to be in the context of a commitment by the public sector to undertake public infrastructure works in order to create the environment and confidence to commit further.These would include public sector improvements such as public space upgrades, improved public transport and public realm works, to be delivered in the surrounding area and to contribute to the general uplift of the borough, thereby creating an area in which the Club can justify an investment of hundreds of millions of pounds, secure funding and be a catalyst for further regenerative investment. We are continuing to hold positive and constructive discussions with local, regional and national government as we seek to move this scheme forward.

The rumoured £7.5M Boris has promised is hardly game-changing and we still await to see if a new tube station is forthcoming. A game of Thrones.

Fact is, the club (ENIC) need to push on. We need that new 55+ ground and I have no doubts that's what we'll achieve. Otherwise, there is no progression for Spurs or Levy and therefore nothing for ENIC's shareholders to feast on in the years ahead.

As for the financial results:

Champions League football revenue rose almost £44m to £163.5m

Operating profits up 42% to £32.3m

Costs of maintaining the squad up 35% to £131.2M (compared to 2010 £97.1M)

Club recorded a pre-tax profit of £400,000

More money made thanks to CL, more money spent on general costs and outgoings (new training ground, NDP, debt reduction, player bonuses etc), less tax wastage. It's all good. We're a slick machine in business operating terms, almost as slick as the manner of our football.

CL football will keep us happy and the chairman focused. For now, progress for the NDP is still lost in politics and posturing.

In amongst all the figures, worth also citing the obvious fact that the OS bid is dead. Dodo dead.

Friday
Oct082010

A spoon full of Sugar makes the Venables go down

#3

The news of the moment is Liverpool (I'm going to choose to ignore Stratford and Gullivan for the time being). Board shenanigans, Yanks, take-over bids, humiliation on the pitch, continued embarrassment off it. Their dirty laundry aired in public for all to see. It's almost like someone has rummaged through our bins and plucked out from the rubbish our discarded tag as the never-ending media circus and stuck it on the back of the Anfield club.

Once upon a time Liverpool conducted their business with complete discretion. The football did the talking. Not even a whisper from the chairman and owner in terms of bickering or disharmony. All focus was on the pitch. Modern times are now all very public, messy, contradictory and soul-destroying for the upside down flag waving regulars of the Kop. Since the Americans bought in. Hardly surprising.

Brings me onto an article I read online (Daily Express) that had me grabbing the nearest piece of upstanding furniture, to aid in supporting me from falling to the floor, all faint and dramatic and struggling to catch my breath. A cup of tea got me sorted, lost deep in a flashback to the early 90s.

Ah yes, the 1990s. Mostly forgettable for the complete lack of direction and progression - and that was just me bumming around doing very little. Don't even get me started on Tottenham.

It was a good decade in parts. Mostly for discovering Jenna Jameson (in the later part of the era) and dating a girl who looked like Jenna (if you've seen the 'artistic movie' The Kiss - that particular incarnation of Jameson). I also got myself a proper job in the IT industry which was practically in its infant days, back when only the lucky ones had dial-up modems that made connecting to the internet not too dissimilar a task than attempting to load a game on a Spectrum 48k.

There were also many pivotal moments in our clubs history that took place during the decade of Brit Pop. We had some great players and great escapes and a League Cup final win to end it on a high. Personally, looking back, it was mostly about the players we had. We got our pleasure and satisfaction from our side from individuals rather than from the collective.

Christ, we had some fantastic players. Players deserving of fantastic teams. Except we also churned out some pretty pathetic transfer signings and managerial appointments. It really was quite shit. But not all of it. Sort of started well, bit in the middle was crap, and sort of ended well. But we muddled through and being Spurs, we always entertained.

1991 was emotional. Off the pitch, we were at deaths door. Financial meltdown, the reminisce of Irving Scholar coming back to bite a massive chunk out of our backside. Keith got it so right.

I get the feeling nowadays, it's all quite under-stated when looking back. Not sure how many of the younger ones amongst us appreciate how big a mess the club was in. It truly felt at the time that we had to win the FA Cup. They all said it, win it to save yourselves. That's how it played out in my head and in the heads of the shelf-side (my original home at the Lane) mob. Either that or I'm holding onto distant memories of back page headlines from The Sun.

If we wanted a buyer we had to at least offer something in the way of a reason for them to even look in our direction. I'd hate to think that we'd have been left to go under. It was grim and it hardly looked positive.

I was ever-present in our FA Cup run that season. Went to the home league games to collect all the necessary vouchers to apply for a semi-final ticket. By apply, that's stand in a queue that finished at the ticket office on the Park Lane and wrapped itself around the corner all the way down to Northumberland Rd where I stood for hours at the arse end of it. Worth it, of course. The day of the Wembley game against the scum is something I've written about before. They were coasting the league. This was the defensive beast of a machine, the Arsenal, boring beyond belief yet practically unbeatable, against the Tottenham in turmoil.

For them, the double was just two sets of 90 minutes away. For us, lose this, and end of days. Both league games finished 0-0 that season.

The journey to the game however did not reflect the potentiality of depression that could have befallen us that day had things turned out differently. I lived in Walthamstow at the time and made my connecting journey to Wembley and found our lot to be the more vocal of the two sets of fans. The gooners appeared reserved. A good friend of mine who also went to the game (a scummer) said that behind a lot of his pre-match bravado, on the day itself, he had a gut feeling about it going in our favour. The odds staked so high in their favour, it made him nervous, because everyone, well most, couldn't see how we could beat them.

My personal highlight was a gooner telling his mate on the train "If we lose, I'm going to hang myself from a tree on the Seven Sisters road". I think, regardless of colours, we all had the same thought.

It's a NLD, it's going to be intense regardless, but this game was beyond anything I had experienced. Well, I guess since the '87 League Cup semi-final trilogy. Which hurt. Badly. Both needing, wanting to win for completely different reasons. One for glory, the other for survival.

At the Twin Towers we had the privilege of welcoming the Arsenal coach and players. We greeted them with a gentle hand wave and cheeky wink. All very pleasant and gay. They smiled and waved back. Post-game rumours suggested they had already recorded a cup final song only made our waving that much stronger.

Why would anyone other than Chas'n'Dave record a Cup final song when the year ends in one?

As for the game.

What I witnessed that day was comic book fantasy. The very definition of wtf  is happening mind-blowing unreality sexed up ripping of shreds football. It was both the most unexpected and greatest opening 10 minutes of any game I had or have witnessed. Quite simply breathtaking.

The urgency, the desire. That free-kick. The sheer cheek of scoring twice. It was shaping up to be a monumental upset. Smith scoring before the end of the second half to give them hope. I can remember thinking how could we possibly hold out. You always knee-jerk to the worst scenario you can think off. It's your subconscious tuning you up for protection from the despair you'll experience if it happens.

Spurs face up to Arsenal in the 1991 Wembley FA Cup semi-final

 

The second half was equally immense in a different type of way, digging deep and then that counter (Mabbutt, fed it well, Nayim to his left and Samways up ahead, but Lineker uses him by not using him, good try, he scored, and David Seaman will be very disappointed about that it seemed to go through his fingers) and the ecstasy of being 3-1 up. We stopped them, double dream dead, and we breathed life back into our bodies as we marched onwards, and of course, won the cup against Forest in the final.

3-1, we beat the scum 3-1.

Venables, in our eyes, saved the club off the pitch too by bringing in Alan Sugar who had the clout to plug the draining black-hole where our money once sat.

Dream team. Or not.

Fast forward to 1993 and it had all gone sour. El Tel sacked, boardroom struggles, high court dates. It's easy (and yet quite uncomfortable) to look back now and accept that Venables was not exactly in the right. He was fairly left to the right. By some distance. It's not quite the same as the Liverpool situation, but the one parallel is the uproar from the fans in support for what they believed in. Again, not the same thing and arguably its far more black and white for them than it was for us.

I was at the High Court, I'm pretty certain, on most if not all of the days. Standing outside with an assortment of Spurs fans, all varying age groups, all with pretty much nothing else to do when everyone else was at work. All of us some what blinded by the details and simply there to support the footballing man over the business man. Back in those days, we didn't have the safety net of internet message boards. It's was all terrace and pub talk and what the hacks are scribbling. It was spent the only way we could have spent it back then. Standing around singing songs and smashing up Amstrad computers.

In the end Sugar won and his decision to sack the manager was validated by the courts.

We moved on. Tel was no saint and that became apparent later on. Our loyalties completely clouded, not really wanting to accept any level of betrayal. Of course, regardless of the facts, the alleged sub-plots, the suggestion Venables never had the £3M investment he was going to stake in the club and that Sugar  then had to cover it when purchasing Spurs…I still never took to our bearded saviour, the one with the cash that saved the club. Even though some argue that it was still Venables who actually got him to do the saving by getting him involved. I can’t think of any other suitors at the time who would have stepped in had Sugar nodded a no and walked away.

From a philosophical perspective, it was always doomed from the start when considering the colourful and differing backgrounds of both Sugar and Venables.

I guess looking back now it was probably the best thing to happen to the club in our recent history because of the structure and balance Sugar instilled at the Lane (be it he cocked up several times in matters of a footballing nature) but he gave us a backbone in terms of how we managed ourselves off the pitch.

And of course selling up to ENIC and a certain Mr Levy has birthed a new chapter which is doing its best to drown out most of the misery from the 1990s. It's taken us this long to get back into the game. A very long and winding road of recovery.

As for Lord S, bless him for his honesty in retrospect relating to Klinsmann and the t-shirt in the bin incident, George Graham and the admittance of one or two other related matters concerning his loudmouth presence and conduct when he was at Spurs in the capacity of chairman.

Liverpool fans, don't despair too much. There is always light at the end of the tunnel. Well, unless you're Leeds Utd, but then when you spend a fortune on a fish tank and offer extortionate wages to Seth Johnson, you deserve relegation twice over.

And as for days outside the High Court…hands up if you were there. That might have been me you were standing next to when dancing around the smashed up pieces of a home computer.

 

You've been reading the third part of Spooky's International Break diary journals.

Part one can be read here.

Part two here.

 

Monday
Dec292008

A thought to take into 2009

In this current economic climate, don't expect the new stadium to be built. Expect Levy to gain planning permission, and then sell the club for a tidy sum thanks to the ground development getting the green light.

Friday
Nov072008

that was the week that almost is

Not much blogging this week due to a family bereavement. Will be back daily next week. Steady on the open bus parade.

As for Spurs, been another eventful week (although we still got the weekend bit to go and mess it up for us).

4-0 at home in Europe. Yes, the opposition was arguably a bit pony - but the swagger was back. Some very decent tidy football, great in possession and movement and Darren Bent all smiles with a sweet hat trick thanks to the involvement of the slow-brooding beast that is Tommy Huddlestone (who also got on the score sheet with a tasty volley). Modric did well against his old team mates and apart from Hutton (who looks out of sorts) everyone seemed to enjoy the evening. Even Gomes, who decided this would be the night to keep a clean sheet.

Bostock made his debut and no doubt we'll be seeing more of him through out the season. Looks assured and has quite a shot on him. Let's try and not fuck up his career, right?

In other news, ENIC (that's Levy to you and me) bought another 2.8 million worth of shares in THFC lifting their stake in the club to 71%. Apparently works out to around 85.5% ownership of the fully diluted share capital. I suppose news that we only paid Ramos £1.7M (£2.5M including Poyet and co's severance pay) has allowed a bit of a pre-Xmas spending spree for Daniel. Don't go spending it all! Apparently there's a little Russian who play for Zenit who wants to come to Spurs.

Another twist in this summers epic saga. Arshavin apparently is a bit angry. He is gutted the transfer to Spurs never happened and has to endure digs from team mates (and Dick Advocatt, believe it or not) after every Spurs match. Although arguably what they possibly could have been saying when Ramos was manager is anyone's guess.

"Hey Andrie, you Champions League mug. You are here instead of being bottom of the Premiership! Ha ha in your face"

Riiiiiight. Regardless, he has told the media that after his deal fell through, everyone took an interest and look out for our results. However, you want to be a little anal retentive about it, he doesn't actually say he wants to come here now. Just that his team mates are taking the piss out of the fact that he never joined us (these Russians have got piss taking all wrong).

Let's remember a month ago, he was too good to join us. And now, he wish he had. Footballer, hey?

Moving from on the pitch to off it. Joe Jordan has left Pompey, so expect him at WHL soonish. Along with Sir Les of Ferdinand who will join the coaching the staff to help out the strikers. Don't mind Les at all. Proper Spurs fan who loves the club, so having him out on the training field is a good move. Still don't know or understand why Sherwood is there. As for Jordan, I don't mind him. If he does sign on, then that's ok with me.

Wednesday
Oct222008

Sunday not so bloody sunday

The 'mass' demonstration for this coming Sunday has been called off. Ben (that's the Ben who posts on COYS and spends most of his time up a tree at the Lodge) has been quite vocal recently with the publicity around the protest (he was interviewed by telephone on Setanta Sports). This was posted on COYS yesterday afternoon:

"Many people have supported the statement and a lot think we should do it before the game kicks of v bolton instead of during the first 5 minutes. some think we should do V liverpool. A few not at all.

I don't speak for spurs fans and don't want to do something majority not happy with so for that reason at the moment we will not do the leaflets. Levy knows a lot want him to go quite obviously and they are under real pressure. They need to tell us guys something and give something back to the fans. The situation is a large majority of us want Levy to go.

Because of the position we are in and the points needed over the next few weeks after a long chat between us all we have decided to leave this for the time being the club know how we feel and our feelings will almost certainly not change(we hope they will) I really fear for our future with Enic but maybe at the moment this will not help things as people have suggested.

We all love the club and want to get out of this position so we all need to pull together at the moment. So the leaflets will now not go ahead this weekend"

So keep your effigies at home and just make sure your lungs are ready to breach the roof of the sky as we all give it some with the vocals. I'm guessing that after the game, if we do manage to lose again, there might be one or two gatherings outside the main entrance to the West Stand. Nothing pre-planned. No leaflets. There's no protest planned during the game or just before it or after it. Anything that happens on the day will be down to what happens during the game itself. Seems its best not to distract from the fact that 3 points is the only important thing on Sunday.

Football will take precedence. Let's hope the players remember to turn up for once.

Thursday
Oct022008

Dreamland?

From today's Guardian:

If Tottenham Hotspur's chairman, Daniel Levy, below, names an acceptable price before the week is out the club will be sold. A billionaire investor from the Far East, delivered by the super-agent Pini Zahavi, is in talks. But Spurs fans who want change at the top must hope Levy sets aside his instinct for haggling over a couple of extra million pounds which damagingly delayed the sale of Dimitar Berbatov this summer.

ENIC set to admit defeat? Joe Lewis to wipe his hands clean?

We live in hope. I won't get rid of the domain name though. Will continue to send letters to Levy. Keep him posted with the latest. I'm sure he'll appreciate it.

As for any potential new chairman. Buy us three world class defensive midfielders. Just for larks.

Tuesday
Nov062007

Jellied eels? No thanks

More speculation, this time about the potential re-building of White Hart Lane and who Spurs may have to ground share with. BBC run a news item on 'Inside Sport' last night, and the Mihir Bose 'understands' this with another insightful article on the Beebs football pages.

Firstly, nothing new. Spurs will either move away from WHL for a couple of years while it's rebuilt and ground share or Spurs will remain at the Lane while a brand new stadium is built from scratch. We all knew this, it's obvious that Spurs will either re-develop their current home or move on. What is new in the way of information is that we have apparently we have Tony Winterbottom (who played a role in the development of Arsenal's ground) on board who is looking at how WHL can expand to 52,000. Also, Paul Philips (a project manager, again involved at the Emirates) and Ken Shuttleworth, an architect who is the right-hand man of Norman Foster who worked on Wembley.

All very good. Dream Team in place. All we need now is the decision on whether we stay or go. Don't want out of WHL. I'm a sentimental bastard. If we did move then ground sharing isn't something I'm looking forward too. Have to scoof at the idea of sharing with West Ham United. I can see the police loving that idea. Getting to the ground on match days would probably involve the odd ambush and flare-up. Imagine playing at Upton Park in a 'home' match against Chelsea. That's one three-some I'd gladly say no to. Better still, when WHU play as at Upton Park in our 'home' game and they turn up with 20,000 away fans. Wear your colours for that early kick-off.

Other suggestions have us playing outside of London at Watford or Reading. Don't really approve of that either. And as for the Emirates, no thanks. Even though, of all the potential clubs we could share with that would give us the least amount of trouble in travel. Wembley would have to be the number one choice. But the FA seem reluctant to help out.

Will be interesting to see if the club decide to ask the fans what they would like with regards to having the ground expanded or move to a new location in Enfield. Bose states that Spurs would prefer to remain at the Lane. Hopefully this is the one thing Levy won't let me down on.

Thursday
Oct112007

Stick it on Ebay

Whispers in the City that there's an instruction for one lucky person to go find buyers for the club. According to the rumour whores Levy will sell up for around £400M. This all follows the media's report that Kemsley (the one who doesn't rate Jol) wants to launch his own bid for the club. Lovely. That would probably mean the arrival of Harry Redknapp and me setting myself on fire.

Wednesday
Aug082007

We continue to sell-out

I can taste vomit in my mouth.

ultimategoalmouth

A seasonal membership of The Goalmouth gives supporters the chance to combine a season ticket in the North Stand with the pleasure of enjoying a pre-match three course meal in our football-themed, fun, family restaurant before each game.

We have a limited number of seasonal membership packages still available that include:

  • A match seat in the North West corner accessed directly from the restaurant
  • A three course ‘American Diner’ style pre-match meal and half-time refreshments
  • Entertainment for young fans including table football, video games, visits from Chirpy and our resident football freestyler, quizzes and competitions

Seasonal Membership Prices

Adult & Child Package - £4,000 plus VAT
Family Package (2 Adults & 2 Children) - £7,000 plus VAT
Price per extra Child - £1,500 plus VAT
Price per extra Adult - £2,000 plus VAT

New For 2007/2008

We now also have an allocation of Goalmouth seasonal memberships for supporters unaccompanied by children priced at £2500 plus VAT per person.

Corporate hell. Levy has found that sonofabitch Chirpy something to appease his ego with. And exactly what is the reasoning behind the 'American Diner' pre-match meal? What's the link? Why not traditional kebabs or pies or bagels? Or is that too common? Of course it is. Note also the amount of money you will need to part with to be part of this 'experience'.

Yes. That's right people. The West Stand invasion of the North Stand has begun. Levy, just you dare try and come near the South Stand. That includes you too Chirpy, you smug yogo-loving motherf*cker with your stupid grin and handshaking skills.

Sunday
Jul082007

ENIC bid for 100%

If you've taken a close look at the Spurs site and the financial press you would have noticed that ENIC are looking to acquire 100% of the club shares, thus destroying any chance of a hostile take-over from some off-shore billionaire or to help give the club the required swagger and big balls to possibly help with future financing and the potential of ground expansion (by selling 49% after getting their hands on the lot).

Thread of interest here:

http://glory-glory.co.uk/forums/thread/162360.aspx

I'm going to be subjective with this and not jump down the throat of Levy and ENIC simply because of their shabby handling of fans in other matters (will get to this in a moment).

So, for the time being, I will say that in some ways this new tactic by the club is a good thing, which would mean I would be concluding (by proxy) that Levy is doing a 'good thing' for Spurs, and thus for me.

So its a good thing in principle.

Its difficult to be sure at this point what their goal is, so along with my subjectiveness, I will also remain patient and wait to see what their end game is rather than speculate like some coked-up Daily Mirror reporter copy and pasting a 16 year olds opinion from a forum.

As for the shabby handling, I am of course referring to the booking of tickets online whereby we are no longer able to select our seats using Seatbooker. You can now only select the block - and seats are then allocated by the club.

I refuse to accept this is hard evidence that we are moving to Wembley and that Seatbooker have removed the option for the present in preparation for the future (where selecting/booking a specific seat at Wembley isn't a realistic option for the club to be able to allocate fairly).

I personally think that the true reason is to defuse the potential upsurge of 'fan movement' behaviour of having 'groups' of like-minded Spurs fans together, controlling the vocal territory of a certain block. Not giving them the option to huddle together results in disbursement of said groups and breaks up the atmosphere making it difficult to potentially demonstrate, within the stands, in disgust of the teams abject performance(s).

Its these little things which get engulfed by the much larger things which is the crux of the battle ahead. Look between the lines at all times.

Saturday
Jun092007

Levy cements place on board

Vigorous. That’s the word of the day. ENIC, now 66% to the good have safeguarded any potential hostile takeover (so, sorry to all the Russian billionaires out there). Good tactics again from the chairman of the board, spending a fortune to guarantee his firm grip on his empire. Levy can now out vote anyone on the board by 2-1 whereas prior (before Sugar was bought out) they only owned 54% meaning that a potential takeover would only require 46%, forcing a power struggle that Levy would prefer to best avoid. Which he has done.

Rumours of Damien Corleone purchasing a home in London, moving out of his rented property and potentially into a million pound home – cementing his and Levy’s position at the club. Obvious logic, you wouldn’t go house hunting if you believed you job was at risk.
So, my nemesis is here to stay. Good, because had he fucked off I’d sue him for making the domain name of this site redundant.

Saturday
Jun092007

Spoon full of sugar makes the Levy go down

Sir Alan Sugar has sold his stake in Premier League football club Tottenham Hotspurs for £25m ($49.8m) to sports and media group ENIC International.

ENIC already held 54% of the North London football club, and has now increased its holding to 66%.

Spurs' chairman Daniel Levy is the managing director of ENIC.

Although City rules require ENIC to make an offer for the remaining 34% of the club the group said it intended to maintain Spurs' AIM listed status.

The deal values the club at £209.5m.

The sale will go through on 2 July and will end Sir Alan's formal relationship with a club where he was chairman for a decade until 2001.

The board of ENIC said it had increased its stake in Spurs "as a sign of its long-term confidence in the club and to provide ongoing stability to the club".

This should be interesting. Surely Levy wouldn't go as far as selling the club just to get away from my barrage of truth-attacks? As for Sugar, I remember standing outside the High Court smashing up Amstrad computers. And that was only last year on the anniversary of the first court case when him and El Tel went to war way back. Though credit to him for saving the club from administration, and credit to Terry for winning us the Cup in '91 - which equally saved this club from the brink.