H.H.
Player Valuation: £10m
I'll have to go more in detail when I'm a bit less tired. But essentially looking at numbers pre Covid will soon seem a world away. They are almost irrelevant. It's a world where fans go to stadiums, sponsors pay up and Europan TV money is made.
The most important ratio I would look at now is wages. We will probably keep most of the PL tv revenue (whichbis distributed quite equitably) but most other revenues will be far more difficult to claim and certainly maintain at anything approaching pre Covid levels.
Tottenham are in a uniquely bad place, as theyve just launched into a 1bn borrowing exercise, at a time where we are heading into a recession, so thing become worth less. A mitigating factor may be if they have certain targets associated to the loan, they may hit them, and trigger an rise is borrowing cost.
Tldr, clubs who are reliant on european money, gate receipts and sponsors to cover high wage Bill's are in serious trouble. Paradoxically the things that were indicative of a well run business pre Covid 19 are now weaknesses. Recessions are cruel, uneven and often quite bizarre processes that dont work to conventional logic.
We are also in trouble, we were in trouble before this happened. On the face of it, probably one of the least financial secure clubs going before this. However we might not be in the worst 5 or 6 now.
You like saying "Might," "Maybe" and "Probably" a lot in your posts.
For a start, Spurs do not have a billion pound borrowing exercise. During the period of building the stadium, not only did they make millions in profits they also paid out many millions during the stadium build so the actual loan is £637 million.
Still a massive amount of money but more it's more than £300 million less than you quoted they have to pay back.