Spurs Summer Transfer Window Day 49
Money money money, it's a rich mans world, good morning folks to Spurs Summer Transfer Window Day 49 and what a wonderful day it as yesterday.
I went off to see my daughter and grandson, took him some light plastic skittles and he dragged me outside to play with them for an hour.
When I say dragged, he is 2 years 5 months, he faced me, grabbed the leg of my shorts each side and gently walked backwards pulling me while saying "Come On."
He's adorable, it is magnificent having a grandchild. He giggled away when we played with them, then he went 10 yards away, I set them up and came running into them to knock them over, he loved doing that again giggling away.
You are putting them up and they wobble, it's Mr Wobble and he would gently knock the skittle over, Mr Wobble has fallen down, more giggles.
He then tried to get them to wobble himself by standing them up and trying to spin them like a top.
lay them on the floor like a ladder, step over them and count.
A simple cheap toy, but stacks of fun for him.
My daughter did warn me I wouldn't be allowed to sit down when we came indoors and sure enough I sat down and the little lad grabs my shirt and pulls "Get Down."
He wants me sitting on the floor playing with his lego.
There is something new every time I go to see him which is at least every two weeks.
Apparently he sees my car coming, points, says Grandpa and gives a big smile through the window when I'm arriving, nice to know.
It all leaves you in a happy place, just as supporting Spurs does, not for me the pointless hate fuelled support, ore the fun filled support, the positivity that leads to a better life.
Cash flow dictates whether you can pay the wages, suppliers and taxman and thus determines whether a club succeeds or fails off the field.
I repeat for the umpteenth time what Sir Alex Ferguson said on national TV that you have to have a successful business off the field before you can have a successful business on the field.
Never was that made more apparent than the preceding two paragraphs above it.
The full thread is here so if you are on Twitter I urge you to read it, if you are not on Titter then you avoid all the Spurs negativity so well done.
For clarification, all the following current two year figures refer to 2019/20 and 2020/21 while the two previous years refer to 2017/18 and 2018/19.
The Big Six, Tottenham Hotspur, Manchester United, Liverpool, Chelsea, Manchester City and lastly, where they should always be put (which I do if you have ever noticed) Arsenal made a £1 billion operating loss after paying £3.4 billion in wages over the last 2 years.
The graphic below gives further detail.
Compare that with the two years prior (figures in brackets current 2 year comparison):
- £471m pre-tax profit (£665 million loss)
- £5.8 billion revenue (£5.3 billion)
- £681m profit from player sales (£477 million)
- £3.1 billion wages (£3.4 billion)
So you can see, wages have increased despite clubs having gone from a 2 year profit to a 2 year loss.
The difference between £471m profit and £665m loss is £1.136 billion, yet revenue decreased by £500m.
Revenue decreased by £0.5 billion, wages increased £3.4 billion!
Profit from player sales decreased by £204 million.
Covid caused reductions in the last two years over the previous 2 years:
£587 million less in matchday income
£108 million less in broadcasting rights revenue
OK let's look specifically at Spurs for a moment and run through those graphics.
Keep in mind that during the current 2 year cycle there were no fans in the ground for the best proportion of the time.
Last 2 years vs Previous 2 years
Matchday £96m - £153m - down
Broadcasting £342m - £445m - down
Commercial £313m - £244m - up
Other Income £0m - £0m
Revenue £752m - £841m - down
Other Operating Income £0m - £0m
Wages £386m - £326m - up
Other Expenses £165m - £188m - down
Expenses £551m - £514m - up
EBITDA £221m - £327m - down
Exceptional Items (Outgoings) £3m - £0m - up
Player Amortisation £149m - £105m - up
Player Impairment £9m - £15m - down
Depreciation £143m - £35m - up
Goodwill Amortisation £0m - £0m
Non Cash Flow Expenses £301m - £155m - up
Operating Profit/Loss £102m loss - £172m - down
Profit on Player Sales £36m - £84m - down
Property £0m - £14m - up
Profit Before Interest and Tax £68m loss - £270m - down
Net Interest Payable £80m - £43m - up
Profit/Loss Before Tax £148m loss - £226m - down
Taxation Credit Charge £0m - £45m - down
Profit/Loss After Tax £148m loss - £182m - down
Wages to Turnover 51% - 39% - up
All the Big Six posted losses, Spurs were £148m (Man Utd £45m loss, Liverpool £51m loss, Chelsea & Man City £120m losses, Arsenal £181m loss).
Big Six revenue increase/decrease the last 2 years over the previous 2:
- Manchester City increased revenue by £13m
- Liverpool lost £11m revenue
- Chelsea lost £48m revenue
- Tottenham Hotspur lost £89m revenue
- Arsenal lost £112m revenue
- Manchester United lost £214m revenue
It should be remembered that White Hart lane was demolished in 2017 so the previous two year figures continually referred to were when wwe were renting Wembley as our home.
Having our own stadium has increased the opportunity for commercial sponsorship and when supporters have been allowed in, to increase matchday revenue.
Our commercial income grew £69m and we have just been on our first pre-season tour, which was highly successful commercially, something we were not able to do during Covid in 2019.
This the next set of two year figures would be interesting and will give us an even greater understanding of the impact The Tottenham Hotspur Stadium has had on Tottenham Hotspur Football Club.
OK, we are told to look at cash flow.
Operating Cash Flow
- Manchester United £155m
- Liverpool £117m
- Manchester City £105m
- Chelsea £92m
- Tottenham Hotspur £82m
- Arsenal £73m
Let me hand over to Swiss Ramble to explain cash flow.
If you are on Twitter, I highly recommend you go and read the whole thread.
Comment
Now a comment was left on Spurs Summer Transfer Window Day 47 about the laziness of posting the Heung-min Son interview and it was lazy I fully admit that, but it was posted for all the people who hadn't seen the interview and there were plenty.
On one social media platform it received more views than any post this summer transfer window, while on others I received thanks for posting it from those who hadn't seen it.
It therefore served a purpose for some but not for others.
Contrary to popular opinion among some I don't mind justified criticism, as opposed to the dishonesty I regularly see from the anonymous guy who is obviously Scottish Yiddo in disguise.
On the point of laziness though, if I sat down and wrote an explanation post it would take me about an hour to knock out 1,000-1,500 words.
However if it includes Spurs transfer news, then you are probably extending that to 4 hours or more as it takes a lot of research and checking things with various sources to try and get an accurate picture to present to you.
This isn't how the media works, it is all speed, it is all short pieces so they can produce more pieces a day for more advertising revenue.
A write and burn approach.
A 150 word piece would take 10 minutes, it's thrown up, folk read it and another is written and thrown up each hour or two.
You find though these are not researched pieces but just a rewording of what someone else writes.
I like to add in original content as well as reproduced and tackle matters nobody else is tackling, give you something different, take you places others don't take you.
Equally I don't write for everyone, I'm not interested in everyone, only like minded supporters who can see what the club is building. I hope to add in some of the how and why for them.
Obviously this goes against the grain of the agenda driven anti-Levy smattering, the 90 minute fan with conditions attached.
Love should be unconditional, my love of Spurs is, so I try to understand everything rather than shout against it.
If you do that you get a greater understanding of everything that goes on, again where I differ from the anti-Levy mobsters.
The social media campaign against me, well I have it blocked, I couldn't care less, I have better things to do with my time than concern myself with part-time fans who don't take the time and trouble to understand things.
There are chiefs and Indians, the chiefs know how to run the show, the Indians do the donkey work and don't, although they think they do.
I'm a chief, the anti-Levy folk are Indians, it's simple.
All workers complain about their boss so complaints don't worry me, dishonest complaints, out of context complaints like these people produce are naughty, but it says more about them than it says about me.
Anyway, I'll produce 'lazy' posts from time to time, I might be short of time, I do have a life to lead and I do this as a bit of fun really and to keep myself better informed than the man in the street or the person on social media as it is these days.
COYS
3 comments
Thank you for responding so rapidly to my question about Sergio Reguilon. His relegation from stardom to expendability had seemed unexplained to someone without your sources of information.
Now I enjoy your insights into player - and manager/coach - mentality, and particularly the potential in evaluating it before going ahead with a transfer. Clearly it wasn't much thought about pre-Ndombele, or should I say pre-Paratici. Worth a considered piece about other transfer 'failures' and why they cost us so much disappointment (and money)?
While I'm in no way against your question being answered in a new entry by Clive, I would draw your attention to the back-catalogue of existing work that you may find interesting. There's a great deal there so not easy to catch up with any time soon of course.
The reason I bring it up is that he's been writing consistently for years about certain things the club should be doing to improve various aspects - and that particularly includes player recruitment based on their attitude & mentality. Recently, and only quite recently, have we seen some of the many ideas espoused here for years being taken up by the club. Paratici is clearly someone who understands player mentality and its critical importance. Already we've seen the appointment of a sports psychologist and a set-piece specialist - both pushed strongly by Clive for many years here.
By the way, my suggestion to read up on the back-catalogue is in no way suggesting you should have already. Purel…
Anyway, I loved your uplifting story about your grandson!
You have a nice style of writing and made that scene tangible.
I look forward to having grandchildren of my own, one of life's ultimate joys :)
Also enjoyed cramming the explanation of club finances into my fiscally numb brain. I do read a few other Tottenham blogs/sites but wonder why sometimes. I wanted to say thanks for the interesting & informative content which is also useful beyond being a Spurs fan, as it conveys a healthy attitude to life and how to look at things in more detail, considering actual facts and 'unknowns" before jumping to conclusions.
That is helpful to someone like myself as I can slide into deep negativity where I need to reason with myself and talk myself through it.
So, thanks again!