Levy & Co Give Bond Villains Green Light

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Good morning.

Levy & Co have announced their intentions to de-list THFC from the Alternative Investment Market. So what does this actually mean? If I could predict the future I’d be tipperty tapping this on my yacht. But I’ll give you my interpretation at what’s shaking.

First up I’ll guess that most of you reading this either own no shares (like me) or a token ‘one’ for souvenir purposes. Well you have two choices here. You can keep the certificate as permanent souvenir forever – it is after all yours, or you can effectively sell it back to THFC. The costs of trading one or a very small quantity of shares may prove prohibitive, so the Club are nobly effecting the Nil Cost Dealing Facility which does what it says on the tin. This will run from November 21st to January 11th.

The de-listing requires in excess of 75% of the share holders to vote in favour of doing so. This will happen.

So why is this happening? In simple terms the Board have made an intelligent decision as it knows the immediate future of the business is going to be shall we say quite dynamic financially. The Stock Market has been as flat as roadkill for some time and after what I would imagine were protracted discussions with potential investors the decision to allow the Board greater flexibility in negotiations was made.

What now? Well in simple terms this move makes the takeover by Bond villains far, far easier. The club is financially stable, but isn’t in a position to charge ahead with the NPD under its own steam. The good news is obvious. Tottingham Hotspur are a good bet for the future both on the pitch and in the Boardroom. The brand has massive value. The potential is equally massive, but the launch of a new stadium project just needs that extra boost to make it happen.

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  • TMWNN says:

    Now Spurs will be a private concern, rather than selling up, perhaps Uncle Joe might step in with the necessaries.

    I get the feeling that Levy and Co. would like to see the NDP through to the end and then cash in the chips, but who knows?

  • TMWNN says:

    By the end, I mean built but not paid for. It probably comes down to which is more profitable: selling Spurs as it is now with no stadium debt, or selling a bigger (perhaps more successful/well known) Spurs complete with shiny new stadium and passing on the debt that will come with it.

  • Hartley says:

    I would personally hate it if we were bought by some rich Arab/russian and turned into a Cheatski/Citeh type club…..there is a big difference between winning the league and buying it and if we do ever win it again, I would like to think that it was done properly…..were not that far away from it you know!

    • essexian76 says:

      Here,here,but what say do we have either way?.I like the idea that my small contributions actually account for something,but many others think a mega rich owner is the answer to our prayers. Look at Hearts,Villa and maybe even the Goons,before Chelsea or Man City come to mind. ENIC are the devil we know,and it’s better the devil I know who’ve taken us this far.

    • nicktheyid says:

      got to agree Hartley.cant say I hate a team more than i hate man city at the moment,i hope they fall flat on their overpaid faces.also as you say we are not too far away from being with the big boys but without the huge debt/influx of money.we are a well run club and love them or hate them sir alan and then levy have always put the club first regardless of us sometimes but it is paying off! remember mr scholar whose honourable mention by gazza on tv the other night made me shiver

    • TMWNN says:

      Hartley, aren’t the FIFA fair play rules going to put an end to buying the league, or don’t you think they will be enforced rigidly enough?

      Anyone who can get the NDP built has my vote, that includes ENIC now that their misadventure east has finally ended.

      • TMWNN says:

        Although I’d hate one of these chancers with their leveraged buy-out deals take over. I’d like to think that ENIC would only sell to someone who actually had the money. Probably naive.

      • Hartley says:

        Well as far as I know Citeh have got around it by signing a sponsorship deal with Etihad for £300 million, even though Etihad is owned by the same people who own Citeh…….so You could say it’s not being enforced at all if they win the league this season….

    • dancingbarber says:

      Done properly… that not another phrase that only a Spurs fan could come up with.

      Couldn’t agree more,but I’ve always been a dreamer.

  • Ado Fla says:

    On another matter (from the financial results) – why was Falque not included on the list of players transferred in? Just curious ‘sall…

  • rogerspurs says:

    The link on the announcement shows ENIC holding as 85% and announces that the approval to de-list will be carried. I’d imagine in current share trading / price terms this 85% holding is not giving a good return in dividend (last years loss and this years small – ish profit ), plus the potential for stadium funding debt having a draw (interest payable) on profits = less available for dividend. On the other hand a private share dealing (with the board able to decide who owns them) gives Joe a big say (if he’s on the boards list as potential shareholders – seems bleedin obvious) in the holding of real estate in Nth London. He could buy shares ‘over the odds’, i.e. at a value far greater than the clubs net asset value, which provides cash in a cheaper form to the club than if it borrowed on the debt market. Maybe ‘private shares’ give more certatinty (to the owners of them) over the ownership of company assets and also takes the trading of them out of the broaders share market fluctuation – private share trading is based on agreeing a bargain between interested parties. Why wouldn’t Joe (the east end boy made good) look to invest in the clubs new shares. Maybe they’ll get some long term bond (30 year?) arrangement in place. Better the boy from Bow than the sheikh of araby!

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