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4.3m loss, but we still need to think big (ish).

4.3m loss, but we still need to think big (ish).

Turn-over down 12% and a £4.3m loss on the financial year ending both of June 2012, is hardly positive news, however Tottenham still need to be positive in their ambitions to retain their challenge for the top four and beyond.

I suppose it puts to bed talk from many of us that we have generated big money from sales compared with buying in players, as clearly that money balanced the books as a whole and with additional and exceptional expenses of the new training complex and stadium development preparations, you imagine that already those costs are weighing heavily on the clubs balance sheet and you imagine that once there is a structured funding and sponsorship deals, such as naming rights etc, Mr Levy will sleep more soundly in his bed and hopefully the greater certainty and perhaps structure of spending will make buying and selling players a little easier.

Despite Spurs selling big with Modric, VdV and a few others, we have also bought more and in reality the sums for ins compared with outs, probably don't differ greatly, so talk from fans about still having the Modric money, is false, whilst any accumulated wealth from previous windows has already be spent on running the club. We perhaps also might consider that we have probably looked to pay the likes of Gareth Bale more, but are still looking comfortable with regards to maintaining sensible wages compared with turn-over, so Financial fair play seems not to be a worry.

It does of course re-emphasis the need to keep trimming the squad of unwanted players, which in turn allows for development of youth by freeing up space and I feel the policy of bringing through the likes of Caulker, Townsend and several more, will continue and though the need for a striker is still evident, I still maintain that it might be at the cost of either Defoe or Adebayor in the summer and not in bringing in a third senior player, as perhaps Harry Kane will be asked to share the 3rd choice position with Clint Dempsey. Clever spending and continued adding of versatile and young players is something I believe will continue and was also part of the reasoning why the club appointed a manager who embraces development and look for the tomorrow as opposed to the today.

Clearly any club or business wants to see big profits and bulging bank balances, however it seems clear that Spurs are heading in the right direction, building for the long term, but only continued strong house-keeping and clever buying and selling of players will allow us to keep pace with those clubs around us, who lets not forget, all of them make massively more revenue that we can even dream of and regaining a CL place next season and progressing with the new stadium are more important than ever, if we are to maintain even our current levels of success...



Click here to join in the debate on the club forum.

Writer:OxfordSpur
Date:Wednesday January 23 2013
Time: 9:21AM

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Comments

0
That's a bit depressing. Certainly don't see us spending £20m on a striker now.
Kes80
23/01/2013 09:31:00
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shocked to hear we made a loss. puts things into perspective as to why we are not buying big and I agree to that. I think us fans forget about generated income from sales, sponsors, merchandise, gate receipts and focus on we sold that player where's the money. I other income has dropped which it will have as we are in a recession then this has a huge impact on the clubs finances. Stick with living within our means no amount of trophies sat in a cupboard is worth bankruptcy.

We have to be patient for success.
thfan
23/01/2013 09:37:00
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Those financial figures dont't include the modric and vdv sales because they were old after june 2012
spurticus87
23/01/2013 09:40:00
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I am not an accountant but were Modric and VDV not sold after June 2012 and thus not included in the accounts. If I am right the money from their sales is still available
Big Ron
23/01/2013 09:40:00
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Don't expect big named players or older players wanting a final big pay packet expect more of what we have. Young versatile players that AB can bring the best out of and with a bit of luck we may win a trophy or get CL. It's a difficult time financially and I don't want us paying huge amounts of money for a player taking a chance too risky.

We do need to trim the squad asap so as we all know the likes of JJ, Gomes, Bentley need to be off the payroll asap. Still make huge loses over them and I expect Ade to go and a younger fresher more committed striker to be brought in in Summer one that will cost less. My question would be if we could make one purchase what position would that be? Striker or Creative Midfielder or Winger?
thfan
23/01/2013 09:44:00
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Not sure how we made a loss, we bought parker and loaned adebayor last summer, sold pav, hutton, kranjc, crouch and palacios etc. had two freebies in the january window and a lot f our players like bentley and jenas were loane out covering wages. I do not believe we have lost money someone has coked the books to avoid tax wether that money has been hidden in other business adventures of gone to completely pay of the training ground and into stadium develpoment. We only spent 5 milion on parker yet had over 20 million from crouch and palacios!! something smells very very very fishy
spurticus87
23/01/2013 09:46:00
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this site is dsgusting lately advertising keeps freezing my computer and missing words out!!!
spurticus87
23/01/2013 09:47:00
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Turnover down 12% and a waiting list of 32,000 season ticket holders at least £32m in extra revenue.....dont see any backer worrying too much about spending another £20m on a decent striker in the short term to get us the success that we need in the mid term to fill the NPD to capacity every game (provided it is going to be built of course!) but hey! This is Danny boy were talking about.......let's see which way he shuffles the deck this transfer time!
OyVeh Maria
23/01/2013 09:49:00
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Good point Big Ron and spurticus87 - so effectively financial year 2012/13 we needed to make up a deficit of 4.3m but we still don't know what the situation is because this financial year will not be revealed until six months after the end again next January. We don't know how we have done in bringing other income in whether there has been a drop due to the recession plus I am sure Ade wages has crippled us and his signing on fee. Also increase for Bale wages. I expect Lloris to be on a good whack. This article shows us we have no idea of the real figures until they are published so we have to trust Levy and the board when spending money. I for one wouldn't want the responsibility, there is a fine line between success and bankruptcy.
thfan
23/01/2013 09:50:00
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spurticus87 - I used to have the same problem but Big C explained to me about making sure I have Goodle Chrome ad blocker on and since I have had no problems.
thfan
23/01/2013 09:52:00
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Let's not get excited about Modders and VDV being sold after June.... We also bought Siggy, Verts, Ade, Dembele, Lloris and Dempsey after June as well.... That's 56m although generated 63m in player sales after that date.... so there is a small plus.....
MK-Spurs
23/01/2013 09:53:00
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cheers thfan going to sort that little nuisance out now
spurticus87
23/01/2013 09:53:00
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What is the news on the stadium where is it to be and when does work start. This is something I haven't managed to follow as I am ill and only have a certain amount of cognition available so that goes on watching the games and sharing my thoughts on this site. In summary what is the news on the stadium please.
thfan
23/01/2013 09:54:00
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OH MY GOD! Don't you realise how clever Mr Levy is? The financial year for THFC ended on June 30th. You are all disappointed we made a loss. But you are failing to factor in the sales on Modric, VDV, GDS etc that occurred AFTER this date. You are also failing to factor in payments for Kranjcar, Corluka and Pav which were on terms to be paid over the course of time. When I do my accounts for my business my year end is August 31. They are available to HMRC by the end of September. I love how Mr Levy has bought them to the public attention in the week before transfer deadline. Now he's made it look like we have no money which must surely help us negotiate better fees?
Sebthespur
23/01/2013 09:57:00
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I have passed a few comments on to the main men, but certainly having cookies set to block some or all of ads etc will potentially cause problems. Sadly it is becoming more common as advertisers demand more bang for their bucks and costs for an independent site continue to increase as they are for all of us.
oxfordspur
23/01/2013 10:00:00
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...spurticus....Merchandise Revenue sales up...all PL league games fully attended, even League Cup and FA Cup attendance above average ...all away ticket allocations sold and TV Revenue up.....! its called creative accountancy.......12% reduction in turnover, can only be an exceptional item because the new training ground was already in the budgets unless HMRC have slapped a bill on the new training ground as a taxable asset. I wonder how much draw down or dividends big Jo decided to take out of the club this year... 4.3 m loss! ... sounds about the right price you would pay for a Matisse , Gaugin or Renoir ......
OyVeh Maria
23/01/2013 10:01:00
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I don't get this. But companies can alter figures to fit their own agenda. Wouldn't look good to be trying to get players for next to nothing if we announced massive profits.
Tottenham Hotcore
23/01/2013 10:04:00
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Some things that we must consider when looing at these figures, wage ceiling has increased we are now paying some players £100k a week. untill this summer and still now have had lots of players who werent being utilised and on decent wages. Biggest point thouh last seasons cup runs were an embarressment to our club if we had got further into the europa league we would not be looking at a loss.
gibbothfc
23/01/2013 10:04:00
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Yep'...keep trimming the squad and keep searching for that young, hungry,6ft+,strong, two footed striker.
82spursdebut
23/01/2013 10:05:00
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Like everyone’s mentioned above it doesn’t include some of the bigger sales or purchases. We were about 12m up on transfers over the summer so if we look at it face on we should be about £6-7m up as it stands now. It doesn’t sound a lot but compared to other teams around our position that is phucking spectacular!!

We are obviously not going to make a £30m signing this window but id like to see some like Son to come in, not too pricy but may push us just enough to stay in touch with 3rd. The figures that were announced were not unexpected, im pretty sure Levy had it memorised down to a few pence, these Guys aren’t stupid. A good run in the Europe league and FA cup wouldn’t help the balance sheet either, but we need to make sure we have the necessary tools to compete on three fronts. Think AVB has managed it very well so far.
hudderspur
23/01/2013 10:11:00
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Mr Levy has a plan... and his emphasis according to his statement was to build the new stadium to the same high standards as the new training ground.

Lets not forget that the man has a first class honours degree from Cambridge University in "Land Economy".

So i am guessing we should have some trust in him when it comes to the infrastructure of the new stadium plans and what it could potentially bring to the club and its future..
Yidmarks
23/01/2013 10:13:00
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so to sum up - we are skint because we've spent our money on building works and we will remain skint because we will continue to spend our money on building works. In fact we will have to have less football players so that we can employ contractors and the quality of football players we have in the future will not be as high as we would like because we can't afford them so fingers crossed we can find a young player who turns out to be good....this situation will continue for some years.
shedboy2
23/01/2013 10:14:00
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Yidmarks- Levy's plan is to sell up stadium included and make a fortune for Levy...his focus is on real estate, not football...why oh why would you trust him???
shedboy2
23/01/2013 10:15:00
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increased overheads is not the same as posting a reduced turnover, the 4.2m loss would be stated because of increased oveheads, the statement on loss istates reduced turnover......where did we lose turnover.?...in which part of the Clubs operational elements did we lose money? Gate receipts...Merchandise...sponsorship.....TV Rights.....if the announcement had stated that the club was over geared then that would not look good to potential investors but to show a trading loss and therefore no pre tax profit is a much better vehicle...but what does that do to us buying in this window?..exactly what Danny boy wants...what ever that is
OyVeh Maria
23/01/2013 10:17:00
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shedboy2.. Levy is a businessman first, and a spurs supporter second.

When u reach the financial heights that he and Lewis have, you would want to make your beloved Spurs even better...

It is like a big train set for them.... they can play until its time to cash in... As maybe you would...
Yidmarks
23/01/2013 10:25:00
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Creative accounting? LOL ! We fans really have no idea what it costs to run a big football club. I have reviewed most of the accounts as they were presented over the last 6 years and THFC has only once in that time made decent money and that was about 5 years ago. We have always balanced the books on profits made from player sales. That is why I keep posting here that there is no fund where the net gain goes into to be used to buy new players as many of you seem to think. THFC borrows money to buy players because we make a profit on most sales we can service our debt and so our loan facility remains available in normal times. However when we operate at breakeven levels or small losses (as this is) AND incur extra debt to fund a new training ground AND new Stadium then our ability to repay the new higher debt is called into question and the lenders slow down the availability of money. It's the same as you getting credit as a single, highly paid person living at home vs being a married man with a wife and 4 kids and a big mortgage and a car and wanting to go on a vacation! Will the bank lend you enough for a month (Damiao), 2 weeks (Negredo) or 1 week (Hooper)....
jvd
23/01/2013 10:33:00
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yidmarks...it's big train set to Roman Abramovic....as you point out Levy is a businessman first, he makes his money through ENIC he will only make the parts of Spurs better that will maximise his returns so whilst it would be nice to have better players if it's a choice between that and and him making money he'll choose the later....
shedboy2
23/01/2013 10:35:00
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Heung min son....looks a better financial risk (if no more than £12m')...than Hooper at £8 to £10mill'.
82spursdebut
23/01/2013 10:39:00
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I think Mr.Levy will be with spurs for another 10 years minimum
82spursdebut
23/01/2013 10:43:00
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fair enough JVD but then they shouldn't distinguish the loss as a reduction in turnover...if the running costs, which you refer to, have increased then the loss is as a result of increased operational costs not a reduction in turnover .......reduction in revenue is not the same as an increase in overheads! which brings me back to the point...where was the downturn in revenue...we can all see the increase in costs but where was our income reduced....if they had posted a trading loss due to exceptional items or an increase in costs I wouldnt be sticking a big fat question mark behind their statement!
OyVeh Maria
23/01/2013 10:44:00
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JVD's right....no big transfers from now until the stadium is paid off....we'll be looking at transfer windows to see who we might lose rather than who we might buy....and I guess over that time we'll lose many overseas fans and fail to capture new ones....IF we don't back AVB in the window do not be surprised if he doesn't stay past his 3year contract(as is being rumoured) ....so Levy has a balancing act but he can't scrimp too much on player buys....or he won't fill the stadium in 10years time.
shedboy2
23/01/2013 10:44:00
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82spursdebut- I think that's about right...we are his retirement plan...that doesn't mean we'll be an exciting CL pushing team the whole time though...what's good for ENIC is not always what's good for THFC.
shedboy2
23/01/2013 10:47:00
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Spurs fanITK say Negredo is in as new Striker
sydqcb5
23/01/2013 10:49:00
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sydqcb5-that's what we need.
shedboy2
23/01/2013 10:57:00
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ox its upsetting when you log into the site on your phone and you are diverted to a porn site? Surely there are young fans out there that dont need to targeted with such things. I have been meaning to bring this topic up and as much as I respect that the Vital site needs to make money,but I get very annoyed with the above.
Mix26
23/01/2013 11:01:00
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I'm still expecting spurs to make One decent purchase, this window. I'll..be excited if it's "Son". I think he would do the trick for spurs and Enic.
82spursdebut
23/01/2013 11:06:00
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sydqcb5 - what the F id spursfan ITK? Another forum or summat? Dnt get me all excited for nothing : )
hudderspur
23/01/2013 11:11:00
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HAPPY BIRTHDAY to TOTTENHAM HOTCORE :)... Absolutely cracking member of this site (one of of the few remaining) and an bloody good bloke too. Hope you have a cracxking day buddy :)
coopsieyid
23/01/2013 11:15:00
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Ox - something has to give eventually. You quite rightly point out in your article that we need to be financially sound and a well run club. We are. But, if we want to compete at the top and win trophies (which we are close to doing with a LITTLE bit of investment now) then ENIC and/or Lewis and/or Levy need to put their hand in their pockets now. I'm not saying they have to plough in hundreds of millions for players but some personal investment by football club owners is the nature of successful football club ownership. The way it is currently is that our owners want the club to be self-funding in every aspect, whether that be player transfers or paying for the stadium. That is why our past 6 transfer windows or so have been more or less nil nett spend windows. Also it is why the progress of the new stadium is so, so painfuly slow. There are ways of making stadium developments move ahead quickly (just ask Arsenal) but it needs a little bit of personal investment today for longer-term gain tomorrow. ENIC can't have it all ways. They can't realistically expect the club to self-fund the development of the new stadium as well as player transfers and then complain that we don't regularly compete in the CL. To regularly be in the CL we need bigger gate receipts and a few better players. ENIC say if we get into the CL the club can then afford to do both of these things. We say if ENIC don't help by investing a LITTLE now then we won't get into the CL in the first place. Once again we remain in this pathetic and futile chicken and egg Mexican stand off situation. ENIC / Levy / Lewis all know that football clubs need funding if they are going to be successful. If you want the club to self-fund everything then things will happen very, very slowly (as demonstrated by our non-existent new stadium). Whilst other clubs look at growing revenue from their new higher capacity stadiums and regular CL participation we look with glee at our steady balance sheet. That is what being a football club owner is ablity. Speculate to accumulate. You make the mistake in your article of using both the word football club and business as if they are the same thing. They are not. They are very different things. In fact I would go as far as to say that to be a successful football club is very different to being successful as a business. If business takes over then where does it stop? Would we soon be asked to accept that there is no point in accepting all the costs involved for us to play an away game in, for instance, Madrid against Real Madrid because the chance of us coming away with points is very unlikely and therefore cost benefit analysis would suggest we're better off not playing the match and just forfeiting it? At least that way we don't waste money travelling and staying in hotels to come home without anything of worth to the business.
SpuriousLife
23/01/2013 11:17:00
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Sorry, one more analogy. Owning a good, top level football club is like owning a Ferrari or Maserati. You can't have it and then refuse to insure it or put fuel into it because it costs too much. You can't burst into tears every time you fill it with fuel and it costs more than it would cost other cars to refuel for a month. If that's the way you look at it then sell the Ferrari and buy a second-hand Ford or Vauxhall. That is the difference. You can't have the upside and the kudos of owning a top level PL club without stumping up some of the time. It's the nature of the beast and wanting it any other way is unrealistic.
SpuriousLife
23/01/2013 11:23:00
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Looking at the financial report for only one year never works. What you will notice if you look at the last 3 is a fantastic trend. We improved our revenues by something like £42m in the year we got Champs League but it only came down by £19m in the following year when we didn't. That in effect means that Levy has grown Spurs turnover by over £10m a year for the last 2 years even excluding Champs League. That is a fantastic performance by him and speaks to the work he has done with things like sponsorship.

The downside for me is the loss we made. In my mind it should have been a £10m profit if it hadn't been for really bad management of the squad by Levy and Harry. We haemorrhaged money on salaries of players who clearly weren't having a single material impact to the 1st team setup and started both of the last 2 summers with 35 senior players. A lot of us called it over and over and Levy finally took drastic action last summer by removing 13 players to be replaced by 6.

Generally though we are in great shape. We should remember that even if we could have returned a £10m profit Levy would have managed it to close to zero by June 30 like he did last year. That's the great thing about the financial year end being in the middle of the sumer transfer window. You can manipulate how you want your balance sheet to finish by your incomings and outgoings.

Finally, this to me doesn't mean we can't spend £20m on a new player as they are intangible assets anyway and get amortised over the life of their contract. We can sustain that level of cost. It implies more that we'll probably be looking at a younger player on a long contract with a resale value to manage the risks and make the finances work. The critical thing is that we keep our biggest expense line (players salaries) under control under AVB. Use the loan system for the under 23's. If you can't get in the 25 after that then tough, we need to move them on. That is a completely different approach from Harry's time at Spurs where we lost it for a while as shown by the loss reported yesterday.
muttley
23/01/2013 11:24:00
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spurticus87 - "this site is dsgusting lately advertising keeps freezing my computer and missing words out!!!"....

Couldn't agree more & spent pretty much all of yesterday moaning about it. This little post alone as taken me almost 5 minutes to actually type to completion!!!
coopsieyid
23/01/2013 11:24:00
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OyVeh Maria - First of all you have to build the stadium,then you have to pay back the loans to build it. Only then does it generate extra revenues. You seem to be thinking it will be done in a couple of years, try 10-20.
jod
23/01/2013 11:29:00
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sydqcb5: what, Negredo in? please don`t make us all excited for nothing, it would be criminal :-)
noone
23/01/2013 11:33:00
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SpuriousLife - Arsenal have never been subsidised by the owners as you advocate, they paid for their stadium from revenue, not really sure why you're referrring to them. Where exactly are all these "new higher capacity stadiums" you refer to ? Liverpool have just about given up on a new stadium, so have Everton, apart from the Emirates I can's think of one. You really need to support City or Chelsea, they are the only clubs run the way you want.
jod
23/01/2013 11:37:00
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Cheers Coopsie mate.
Tottenham Hotcore
23/01/2013 11:40:00
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when coops first complained about the site I thought the main issue was with fellow posters but I have to agree all the intrusive advertising does make for a poor user experience. I understand the need to advertise to make money but it's the way in which you advertise that will be the difference between making money and killing the goose...if you drive users away the advertisers with their invasive videos etc will also disappear...be selective OX and look to improve the experience that way you'll get more vistitors and higher paying advertisers.
shedboy2
23/01/2013 11:41:00
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Jod - Arsenal borrowed and have nearly repaid the debt for their stadium. How did they do it? They did it by being in the CL for 14 consecutive seasons. How did they do that? They speculated and decided they needed to get better players and pay a few higher salaries to ensure they were in the CL each season as that was where the big money was and is. They used the revenues from constant CL participation to attract better players which in turn enabled then to be in the CL the next season. This leads to increased support and therefore greater requests for season tickets and therefore increased revenues when the new stadium was built. This justified building the new stadium which resulted in increased revenues for players and investment etc. etc. An upward spiral Jod. Are Arsenal worse off finacially than us? I don't think so and they already have a 55,000 seater stadium (almost all paid for) and players on wages higher than ours. It shows you don't have to follow the Abramovic approach to be successful, but you do have to speculate (of course wisely) to accumulate. As for telling me who I should support I won't sink to your level. I've probably been supporting Spurs (and that includes actually having a season ticket and going to matches) since before you were born. I always have and always will support Spurs. Perhaps the difference between us is that I want Spurs to be a successful fooball club whereas you want Spurs to solely be a successful business.
SpuriousLife
23/01/2013 11:49:00
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You know what annoys me more than anything about this site......the fact that whenever someone has a bit too much ambition or sets the bar too high they get told to pi$$ off and support Chelsea or city. Healthy debate is one thing, just been abusive and an out and out cock to other users isn’t. Like Lordjohnny said to a common culprit yesterday, play the ball not the player

Its going to be interesting to see how Chelsea and city finances shape up now that they are out of the CL and assuming neither of them win the League! How are they possibly going to meet the financial fair play rules that come into force? I think Levy has done a great Job by bringing that issue up when releasing the year end figures as well.
hudderspur
23/01/2013 11:50:00
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syd - It's pretty much GUARANTEED that anybody with the term 'ITK' in their name, KNOWS NOTHING!!. I'm not attempting to pi$$ on any fireworks mate, but if you think about it logically, people that ARE 'ITK' are given very sensitive information & most certainly DON'T broadcast the fact that they are privy to such info. Check out the names of the most respected people, Jjetset, Ryan Tegen, Roger Morgan, Ali Z, Jasper, Archibald, Jasper, The Goat.... Note the blatant lack of 'ITK' within their names mate.

TH - No worries brother :) COYS
coopsieyid
23/01/2013 11:55:00
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These accounts don't mean anything. I don't believe we are running at a loss but will have to see our full financials. The only interesting thing is the cost of the new training ground, I would assume most of it was put on a mortgage but if it has been paid off that would be really good. I don't expect any big signings but then I haven't all year. Hooper would actually be an improvement on last years striking acquisition..............Saha.......
T.H.F.Chris
23/01/2013 11:55:00
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syd - That said, I'll now go and have a look around, to see if I can find any of those guys backing up the info you've kindly shared with us :)
coopsieyid
23/01/2013 11:56:00
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An accounting loss of £4.5 million is nothing and just serves to save corporation tax. Makes no difference to our transfer plans, you don't play for players in one lump sum, you pay in installments.
Med1
23/01/2013 12:03:00
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I agree with the comments about advertising. Very annoying and surely driving readers away. It's the flash ads which seem to be the worst - the videos that start playing without asking. Ox will presumably tell us that vital spurs made a small operating loss last year and that they need to increase revenue in order to fund the new site upgrade.
OneCentRob
23/01/2013 12:22:00
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In terms of our central midfield (including Holtby), we have Sandro, Parker, Thudd and Livermore as defensive options and Dembele, Holtby and Carroll as more creative options. Add Sig and Clint as attacking mids... Is that a good balance or do we have at least one too many defensive mids? What does a squad of 25 need in terms of midfield back up?
SamParadise
23/01/2013 12:36:00
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I'm not sure an ITK has ever been proved right. I'm not sure it's worth getting excited about them as it only leads to disappointment on Feb 1st. We just have to trust AVB, I believe he knows what he is doing and just one or two astute signings, not necessarily big names and we will be good to go. COYS
jonathan01
23/01/2013 12:48:00
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Didn't they sell Modric and VDV after June? I like the timing of the announcement - It may stop sellers asking 50% more than a player is worth because Spurs are interested. Like when Fergie massively over priced Fryers, then gave him away later (LOL).
SPUDMAN
23/01/2013 12:58:00
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Can anyone tell how much the new training facility cost. Why was this not done after the stadium was completed first. Yes I know the stadium will cost a lot more but my upping season ticket sales it should soon start paying itself off. Then once more revenue comes in, then that surely could have been used to pay for a new training ground. The new training facility can not be that good as Defoe and Ade still can't hit a barn door.
nothappyharry
23/01/2013 13:05:00
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Not'....i think the training ground buy and move......was to coincide with cashing in, the old training ground (chingford) and the location to the olympics...etc.
82spursdebut
23/01/2013 13:11:00
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HOLTBY has "Already undergone his medical" & is expected to complete his move very soon....

http://www.standard.co.uk/sport/football/lewis-holtby-cannot-wait-to-join-andre-villasboas-at-spurs-8462910.html
coopsieyid
23/01/2013 13:16:00
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..... the olympic park site.
82spursdebut
23/01/2013 13:17:00
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Have put bold on other thread on Hooper any help to remove it or does it just affect my posts. Sorry Ox
Wilts Spurs
23/01/2013 13:19:00
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Shows how important it is to qualify for the CL, which we failed to do last season because a) we finished 4th, but jammy Chelsea went and won it, and qualified again, and b) we took the pi$$ by signing Nelson and Saha in January, rather than strengthening when in 3rd and pushing on. We must ensure that we finish at least 4th this season, by ensuring that we remain stronger than Arsenal, Everton, Liverpool etc. even if that means spending a few quid. Speculate to accumulate. I still feel we do not push our merchandising potential to it's limit, compared to some of our rivals. This, and failure to unearth any of the the gems, before they become multi-million pound stars that we can't afford, are major factors in our financial position.
Frank
23/01/2013 13:20:00
0
Does Holtby mean that belanda is off the menu now? We really only need to sign a striker now. Or possibly two if defoe is seriously injured!
Slurms McKenzie
23/01/2013 13:25:00
0
No Wilts Spurs it affects us all! In fact I've never been so affected! Bold Wilts Spurs, yellow card offence at least and you'll be lucky to escape a red card from Ox!
Slurms McKenzie
23/01/2013 13:27:00
0
Yellow card accepted despite my first offence. Help to remove the bold be great as I don't want to do any further damage.
Wilts Spurs
23/01/2013 13:37:00
0
Somebody has stated that Defoe is NOT injured... Seems he DID have the scan, though the real reasons for it are still unknown. I'll obviously tell you more as I find it!
coopsieyid
23/01/2013 13:39:00
0
nothappyharry - Apparently £45mil mate

http://www.dailymail.co.uk/sport/football/article-1294314/Harry-Redknapp-hails-Tottenhams-new-45million-training-base.html
coopsieyid
23/01/2013 13:43:00
0
I am sorry, but I'm afraid I don't necessarily fully believe the figures, accountants have considerable expertise at hiding money from HMRC to reduce corporation tax payments, and in Messrs Lewis, and Levy, we have two men of no doubt considerable experience in such matters, ably advised of course by that other past master Michael Ashcroft.
Frank
23/01/2013 13:44:00
0
hahahaha -@ spuds thinking big hahahaha
JohnnyOz
23/01/2013 13:50:00
0
Belhanda off to Inter milan as Montpelier accept £11.8 million bid.
Wilts Spurs
23/01/2013 13:57:00
0
more smoke & mirrors -- nothing short of an accounting excuse why we can't buy anyone -- do not believe these people -- they would not the truth if it bit them on ass
Cape Town Spurs
23/01/2013 14:17:00
0
omitted words were, "know" and "the". Yep, this site is definitely stealing vowels and constonants
Cape Town Spurs
23/01/2013 14:22:00
0
Coopsie, Defoe had the scan to look for all of his missing goals. Results were negative.

As to the numbers, why are they not believable? Because we want them to be different? Wanting to have a surplus of transfer funds is all well and good but the numbers for this year (I use Transfermarkt - use whatever source you wish) would seem to indicate that we have spent what we have brought in. So there is no gain there. No money under the mattress. From 2009-2010 to 2010-2011, our wage bill went from 67M to 91M. I can only presume that it has again gone up substantially. Walker and Bale got new deals. Sigurdsson, Dembele, Demsey, Ade, Lloris are not on budget wages whereas Modric, due to refusing to redo his contract, was. What we all want is for the club to spend. I am all for that. It just has to be costed somewhere. You can't, as a club, argue that the FFPR must be adhered to, if you are not willing to play by the rules. FFPR are what will save teams from doing a Leeds (buying and paying based on best case scenario revenues if they got CL, whic they did not) or a Glasgow Rangers (complete shambles but salvagable, sold to a man who stripped the club and then stated wasn't me) or Valencia (start construction of a stadium that you can't afford so that you can compete but that you can't complete because there is no more money). There are huge perils out there. Several EPL clubs have already gambled for the increased TV money next year. If they get relegated, they are all going to be bleeding money. How is that serving the best intersts of the club or the fans? Someone needs to be the adult. Levy does a good job of being the adult. COYS
peterballb
23/01/2013 14:58:00
0
Wilts Spurs- we can't compete with QPR let alone Inter, we're skint..;) that said Negredo or Soldado please...both on our level, should be affordable and negredo has said he wants to come....
shedboy2
23/01/2013 15:01:00
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