Farhad Moshiri

[Frang]

Not a west brom fan mate wba 1983 was my first Everton game 0-0 and it pissed down got soaked but loved it sitting on the barriers in the Gwlady st

nice story would defo read again..

 

[Canuck Darryl]

He seems much more competent dealing with real estate, than he does with anything football related, tbh. Could be why Kenwright is still in the picture.

 

[Simon Buttle]

They don't have a naming deal in place though?

They have paid for everything via loans so far.

Apparently they do, they were talking about it on the radio about a week ago although it's not been announced as to who it's with, unless that is how they want to pay the loans back? i just remember when i heard it and thinking why can't we do that instead of all this guff with shady Joe and his mates.

 

[Frang]

Im pretty nobody is happy with the way its gone so far, but its a learning phase for Moshiri, im sure as a businessman hes had setbacks before, its not how you fall down, its how you get back up.

Moshiri has taken a tumble in the wet grass, does he stand up and change his shoes or keep sliding down the hill?

My moneys on self made multi billionaire here, but if people wanna keep backing David from Wigan, thats cool.

I'm going on what ive seen.

its all abit frank out of some mohers do ave em..


oooooo bettttty

 

[orly]

Wasn't Cocu your preferred dutch fraud?.

*frandel

 

[roydo]

Apparently they do, they were talking about it on the radio about a week ago although it's not been announced as to who it's with, unless that is how they want to pay the loans back? i just remember when i heard it and thinking why can't we do that instead of all this guff with shady Joe and his mates.

So, after 10 years ish planning and getting stuff sorted, and a few months before they play a football match there, Spurs have still not announced a naming deal, let alone had a red cent off Soontobeannounced Inc Co then.

Yet some were claiming a £500m naming deal had paid for the build......

And meanwhile, we have yet to see a plan of one seat, yet a naming deal should be in place???

Ok.

 

[Goat]

So, after 10 years ish planning and getting stuff sorted, and a few months before they play a football match there, Spurs have still not announced a naming deal, let alone had a red cent off Soontobeannounced Inc Co then.

Yet some were claiming a £500m naming deal had paid for the build......

And meanwhile, we have yet to see a plan of one seat, yet a naming deal should be in place???

Ok.

Tottenham Hotspur Limited (the "Club") is pleased to announce the signing of a five-year bank financing arrangement which includes a £400m bank facility (the "Facility") to support the financing of the 61,500 seater multi-purpose new stadium, the Tottenham Experience and the largest retail store of any football club in Europe.

The Facility will replace a £200m interim financing (the "Interim Financing") that was put in place in December 2015, of which £100m has been drawn to date. The Interim Financing provided funding for the Club whilst relocation, planning and development conditions were completed, to ensure the project remained on schedule.

Bank of America Merrill Lynch International Limited, Goldman Sachs Bank USA and HSBC Bank plc are the lenders under the Facility, and were also the lenders under the Interim Financing. In addition, HSBC are providing a £25m working capital facility to the Club as part of the new financing arrangement.

The Club has expended over £340m on the acquisition of land, the planning process (including a compulsory purchase order and legal challenges) and build costs to date, which now sees the upper tiers of the North stand being fitted with terracing. This was financed with resources of the Club plus the £100m drawn under the Interim Financing.

The remaining costs of the project will be funded from the Facility and the Club. In addition, the ENIC Group will also commit to a £50m letter of credit facility to support the stadium financing and ensure the project is fully funded through the course of its build.

The Facility has a term of five years, with no early repayment penalties or amortisation requirements and no material financial covenants until the stadium opens. The loan is secured against the new stadium and related commercial and match day revenues. There is no obligation to hedge under the Facility and the margin cost payable on the Facility ranges from Libor plus 3% -2.25% over the term.

Rothschild & Co are the Club’s financial advisor on both the Interim Financing and the Facility, with Slaughter and May acting as legal advisor on the financing and construction aspects and DLA Piper acting for the lenders.

Commenting on the new stadium financing, Matthew Collecott, Director of Finance and Operations said: “We are delighted to have three of the most prestigious and globally recognised banks supporting us. We look forward to continuing our relationship with them and our main contractor Mace as we move into the final stages of our journey to deliver the catalyst to one of London’s largest regeneration projects."

Antonio Simoes, CEO of HSBC Bank plc, said: “The new Tottenham Hotspur stadium is a very important milestone for both the Club and the community. It will help the Club to build on its success with increased attendance and new revenue streams and, crucially, be at the heart of an important regeneration and job creation for the surrounding area. We are delighted to support this momentous project.”

Elliott McCabe, Managing Director, Bank of America Merrill Lynch’s Sports Finance & Advisory Group, said: “After years of careful planning and extensive research of other new stadiums around the world, Tottenham Hotspur are developing a truly state-of-the art venue that will further elevate the Club and the overall experience for their supporters and players for years to come. Bank of America Merrill Lynch is very pleased and proud to be part of the team that Spurs have assembled to deliver what is expected to be among the most technologically advanced, iconic stadiums in all of sports.”

Greg Carey who runs the global sports finance business at Goldman Sachs, said: "This will be truly transformational for the Club. We are pleased to be working with the management team on such an iconic project that will create an inspiring destination for both sport and London. We are delighted to apply our extensive stadium expertise and capital to what we believe will be a highly successful project."

 

[Simon Buttle]

So, after 10 years ish planning and getting stuff sorted, and a few months before they play a football match there, Spurs have still not announced a naming deal, let alone had a red cent off Soontobeannounced Inc Co then.

Yet some were claiming a £500m naming deal had paid for the build......

And meanwhile, we have yet to see a plan of one seat, yet a naming deal should be in place???

Ok.

Not saying it should be in place it's just another option to look at that's all because let's be honest we are doing sweet F.A at the moment other than a bunch of pathetic little 'workshops' with drawings that look like they have been done by a 5 year old and resemble the average championship ground, i think the whole project is joke at the moment tbh.

 

[RobSpurs]

Can you imagine if Spurs forum had their own version of @davek
I think Spurs new stadium was first mooted 10 years ago and is still half built.
It will be an impressive stadium but it didn’t appear overnight @RobSpurs

Slightly more than half built, seats are going in. But yeah, the first design for a brand new stadium on the existing site was released in 2008* so it's basically been a ten year process including a wild goose chase to get the Olympic Stadium site, then a change in architect and a new design revealed in 2015. To be fair, when the new plans were shown in the Summer of 2015 it was all-systems-go from that point to where we are now.

And for better or for worse, our chairman and architect are a bit less...public....than yours. I don't know if that changes perceptions as well. But yeah, being close to a project means it feels like it's dragging on. And you can assume others do things more quickly. Not often the case.

* Even before 2008 ENIC had commissioned KSS to draw up plans to expand WHL in 2003, which never came to anything; the designs for these were never made public but were leaked some years later. The club was also distracted by the possibility of piggy-backing onto the Picketts Lock project mooted for the 2005 World Athletics Championships. So in total under Levy we've had three stadium designs (two new builds, one an extension) and been drawn into two stadium projects created for athletics championships in London.

 

[davek]

Lukaku wanted out FACT
Stones wanted out FACT
Everyone else got tv money FACT
Don’t go begging to banks FACT
No increases in ticket prices FACT
Nearer to a new ground FACT

Those are mundane restatements of what happened. The meat of the issue is that the sales plus tv cash hike has meant Moshiri hasn't needed to pay for anything other than the things that will make him more money in a future sale: his shares and debt that can be converted to shares.

 

[roydo]

Not saying it should be in place it's just another option to look at that's all because let's be honest we are doing sweet F.A at the moment other than a bunch of pathetic little 'workshops' with drawings that look like they have been done by a 5 year old and resemble the average championship ground, i think the whole project is joke at the moment tbh.

They don't have to though, Spurs new stadium is being funded by a £500m naming rights issue and the rest is coming from their deal with the NFL.

But.

 

[RobSpurs]

So, after 10 years ish planning and getting stuff sorted, and a few months before they play a football match there, Spurs have still not announced a naming deal, let alone had a red cent off Soontobeannounced Inc Co then.

Yet some were claiming a £500m naming deal had paid for the build......

WHO?! That's amazing, I've never heard a figure that high mentioned, if we get anything like that I'd be perfectly happy for Levy to spend £50m of that on a gold statue of himself! lol

 

[Frang]

Those are mundane restatements of what happened. The meat of the issue is that the sales plus tv cash hike has meant Moshiri hasn't needed to pay for anything other than the things that will make him more money in a future sale: his shares and debt that can be converted to shares.

plus if he was a serious owner he would have made offers to those players that they couldn't of refused.

a statement of intent if you will.

I'm sure that ^^^ has been mooted by our current owner!

laughable really

 

[Goat]

Those are mundane restatements of what happened. The meat of the issue is that the sales plus tv cash hike has meant Moshiri hasn't needed to pay for anything other than the things that will make him more money in a future sale: his shares and debt that can be converted to shares.

You do know that the TV money wont even cover our Wage bill in August?

But hey ho, keep banging that drum David.

 

[davek]

One question to you under kenwright were would we have got or spent £300 million I will take you back to the summer of 2010 are players we brought in were Jan mucha no fee .mageye Gaeye £ under a mill.joao silva half a mill and beckford no fee .all under kenwrights watch so how would be in a better position without moshiri I admit he made mistakes but at least he is spending on players and looking at a new ground neither was never gonna happen under kenwright the last 20 years prove that I mean look them players we signed that summer 1and a half mill spent embarrassing

Last two seasons under Kenwright we saw net spends of £28M and £36M. If he'd had Stones and Lukaku to sell the net spend would have been as much as the net spend over the last two Moshiri controlled seasons....and I daresay the choice of manager he'd have made and the overseeing of spending would have seen better value for money in terms of squad quality.