In December 2003 Tottenham Hotspur announced that they were going to raise £15m through a share offer.
Then they did something very funny – they told potential investors that the club was a good investment for despite having been knocked out of the diddly widdly cup early on, and not being in Europe, they were still in the FA Cup. Given that Tottenham had yet to play in the FA Cup (it being December and all) the bankers of the City were not convinced.
Tottenham Action Group said. “It’s indicative as to the way the club has been run over the last few years. Clearly, the board of directors at Tottenham have not realised that we have yet to play in the FA Cup. They are clutching at straws. Until we have people who understand football running this club we are going to have season after season of disappointment.”
The idea was to offer 60,000 new shares to existing shareholders, the entire issue underwritten by Enic.
I mention this because we now have what might be a new scam in the offing. I mentioned it the other day but didn’t appreciate how much of a scam this might actually be.
Tottenham are claiming that they have a mega waiting list for season tickets of 20,000.
That seemed a bit much to me, as I said at the time. So I went looking.
In 2004 the Independent ran a piece which said of the Tinies season ticket sales at the time, “A total of 23,500 sold for next season, the same as last season – the figure is capped. About 9,000 on a waiting list.”
So several years of failure later, the waiting list shot up. How?
Kevin, writing to Untold Arsenal said this…
“Tony – re: the 20,000 waiting list. I got this from their website – every single one of their paying members who is not a season ticket holder is put on the season ticket waiting list, regardless of whether or not they would want a season….
“If THFC are selling out 36,237 at present, virtually all of the 14,237 spare seats must be getting sold to people on that 20,000-strong list. By my maths that means up to, but no more than, 5763 disappointed members for current home games, assuming every member wants to go to every home game. “
It looks to me like another story just like the “still in the FA cup story.”
Of course I don’t have inside information on this, and I am not accusing anyone of false accounting or telling lies, but from my biased perspective it looks to me as if a 60,000 stadium has been invented as a story to keep everyone happy while the club are in the relegation zone. As Mr Levy rightly said – they have achieved so much during his reign at the club – they won the Diddly Widdly cup, got into the Diddly Euro Cup, and got planning permission for a training ground. Quite an achievement while the neighbours built a new stadium, won the league a couple of times, and the FA cup a few times, and had an Unbeaten Season, and were in the top European Champions League every year.
It does look like a bit of fantasy ahead of an attempt to raise more money or sell the club. Which is why, on this peaceful Sunday afternoon, I thought it would be nice to rename the club. Not longer the Tiny Totts, but instead maybe
Fantasy Totts or
Tottenham Fantasy or
Fantasy Hotspur (managed by Harry Hotspur) or
Childish nonsense I know, but there is an important point in all this. The waiting list at Tottenham Fantasy isn’t quite all it seems, and if it is being used as a way of raising finance, then maybe that needs to be said.
- Only a handful of teams can win the league: but nothing has changed.
- The set of predictions that tell us exactly how the final table will look
- Decline and rise: will Arsenal break their PL goal scoring record this season?
- Does a club have a “mentality” or is it just a case of how much you spend?
- Comparing Tottenham and Arsenal: what is the secret of success?
2 Replies to “Who do you think you are kidding Mr Levy”
As Arsenal fans we need to be very careful not to fall into the media trap of knee-jerk reactions every time a result goes against us. Be honest at 90 minutes last wednesday who out there was concerned at the way our season was going? A couple of minutes and goals later, followed by an off day at Stoke and suddenly not only is the managers position under question but 3/4s of the first team as well. Its all a bit of lunacy, and sadly its par for the course of modern society, we want it now,now,now! No-one is prepared to wait anymore. Wenger is trying to do things the right way without putting our long term aims at risk for a short term gain. We will see how this all pans out but I have confidence that what we are experiencing now is not how the story ends and that good times are but a few short seasons away.
Hi Bobby, I’m glad to know that there are a few more of us out there who do not over-react to every set back but realise that this is all part of the team’s growing pains. Unfortunately the angry and unreasonable always shout the loudest and appear to be in the majority, but I don’t believe they are.
Comments are closed.