The main stumbling block to the new stadium is currently the stand being made by Josif Josif & his family over the CPO issued on his premises in Paxton Road.
The company is a well established company in the UK, especially within the catering & kitchen marketplace.
I can fully understand why he is acting in this way, however it is believed that he has not only been offered the FULL market value for his premises and relocation to another site, still within Tottenham. He has also been offered further compensation on top of this.
However, the latest reports in the Evening Standard are suggesting he is holding out for £25m.
Now this is just short of the amount it took to build Hotspur Way, our new training ground..................................................
So is he just being a bolshy selfish guy, or is he right to stand up to the progress of our club?
Would it be worth it for the club to just pay up & get on with things?
Especially as he has threatened to go to both the High Court & The European Court of Abritation if the DCLG rule in Spurs favour.
Taking these extreme routes would obviously rack up enormous legal costs on both sides, however I think that unless Archway won any legal battle, then they could pay the ultimate price for extending the legal processes, and that is of course financial ruin.
Could they sustain a loss of £2-3m (or even more) and continue to trade? Without seeing their accounts I don't know, but it would certainly damage irreparably many SME's to lose an amount like that.
Are we as a club ethically right in pursuing this? Or is any outcome simply the price of progress?
Is the sum of the parts bigger than the whole?
If we were looking to just buy the premises and put the company out of business then I would say we are being unethical, however I understand that the club has bent over backwards to help Mr Josif in finding new premises and a solution to satisfy everyone.
Mr Josif has shown great intransigence so far, whether this continues who knows?
Should THFC Ltd just bite the bullet & pay him off?
What do other Spurs fans feel?
Archway Sheet Metal Company
posted on 4/7/14
We're all fans
posted on 4/7/14
Even Sandy
posted on 4/7/14
posted on 4/7/14
"If it was your business and you valued it at £3million, and say for arguments sake they offered £1.5! Being a spurs fan would you realistically accept the offer?"
Levy wants to buy the LAND their premises is on, NOT the firm itself.
posted on 4/7/14
Spot on RDBD.............................Archway should not suffer financially, providing the move is progressed seamlessly, there should only be minor disruption to their business.
The type of operation it is, means that they schedule work on the production line and it is normally booked in a number of weeks in advance.
Lets say they needed two weeks (possibly 3) to kit & fit a new plant, this could be done alongside their existing operation. Any loss of revenues would be allowed for in compensation package.
posted on 4/7/14
Genius :
I am inclined to believe Levy did a Levy on the deal for the land itself (as suggested by the poster allegedly acquainted with someone doing the legalese for Archway) .
posted on 4/7/14
There's more to this than what is being reported, I have to deal with a lawyer involved in the sale.
They agreed a price only for Levy to do a Levy and drop the price just before they were due to sign.
They do not want to deal with Levy as a result of this
I personally think this is rubbish, say what you like about Levy but I do not think he behaves half as badly as people on here suggest. I think that if he gives his word on a price, then he would not renege on it without a valid & compelling reason.
He also knows that by doing something like that it would impact right back on THFC Ltd. Not his style or way of doing business.
Hard negotiator........................................Yes
A man who reneges on deals?.................NO
posted on 4/7/14
" I think that if he gives his word on a price, then he would not renege on it without a valid & compelling reason."
What Levy deems "valid and compelling" may not be to the other parties.
Think looklike said he went in with a lower price on one of Lloris or Capoue at the 11th hour of negotiations.
posted on 4/7/14
RDBD......................................Negotiations are just that........negotiations. However once a price has been agreed between both parties, then I believe Levy would keep his side of the bargain.
posted on 4/7/14
Archway