How to make your money go further

As the new football season kicks off and Arsenal is snapped up, Tottenham Hotspur looks a bargain!

10/08/2018

As the new football season kicks off and Arsenal is snapped up, Tottenham Hotspur looks a bargain!
It’s not too late to pick up shares in Tottenham Hotspur football club for what looks like a bargain basement price, at least relative to their overpriced (and underperforming) north London neighbours! Our Blog here highlights the merits of the iconic Spurs and how to buy shares.

Stan Kroenke’s £550m purchase of a minority stake in NEX listed Arsenal Holdings PLC from Russian billionaire Alisher Usmanov results in an implied Enterprise Value for Arsenal of £1.8bn, or approx. 12 times last year’s adjusted EBITDA of £151m (that’s our calculation of adjusted EBITDA). To put that into financial perspective, US listed Manchester United has a current market capitalisation of US$3.5bn, and an Enterprise Value (‘EV’) of approx. US$3.8bn – the EV includes the debt. For the 12 months ending 30 June 2017, ‘United’ generated adjusted EBITDA of US$200m, resulting in an EV/EBITDA ratio of approx. 19x – an…

Sign up and read the full article

Register to continue reading this article.

Get FREE access now

Already a member? Login

Have your say

Log in or register to view or add comments.

Get free access now

Register free to gain access to more research

Register

Investor's Champion Premium Content

Subscribers to our Premium Content receive priority notification by email of newly published research. Premium Content costs as little as £3.20 per research note.

More on Premium Content

More from the Blog

Investor’s Champion podcast: A banking headache

22/02/2019

Purplebricks falls back to earth – we did warn you

More than Money: Wealthify

20/02/2019