Friday, December 08, 2006

Spurs for Sale?

A rather speculative article in the Independent has appeared today suggesting that Spurs could be for sale at somewhere between £200 and £300 million, along with a host of other Premiership clubs. There are no direct quotes, and no evidence is given for why they seem to think that this would be the case, but with the recent share price rise, maybe there is fire to go with their smoke?

The rise in the share price couldn’t have been to do with the PLC’s results which were released today, showing profits down, but revenue up for the year. Turnover increased by £3.5million to £74.1million while operating profits
before football trading and depreciation dropped by £10million from £14.6million to £4.6million. So where has the £10m gone? It must have been spent, and presumably has gone on securing property around White Hart Lane, and the costs of the proposed training ground in Enfield.

Next year’s figures should be far tastier, with the Carrick sale and extra revenues from the UEFA Cup included, plus the monies from Puma and MANSION rolling in. There is no doubt that everyone has a price, and Levy and Lewis must have discussed an exit strategy at some point like all good businessmen do, but if they hold on a little longer, with the club making strides on and off the field, they could get a far greater return on their investment. However, the Independent is right to suppose that if someone came in and bought the club for £300m now, Levy and Lewis would bite their hand off, and why not?

The Waddler.