Saturday, June 16, 2007

Spurs in History - 16th June

16th June, 1983

Tottenham Hotspur - Stock Market Floatation

It was announced that Spurs would be floating on the Stock Market, the purpose being to raise £3.8million.  Increasing debts caused by the development of the stadium and the spiralling cost of players’ salaries meant that alternative ways of producing income had to be found.

The eventual floatation was a success, being over-subscribed three and a half times.   Many ordinary supporters bought their shares for the Club and still have them today, enabling them to attend the annual Share-holders Meeting.

In theory they can ask questions of the Board but in practice the meeting is usually orchestrated to avoid any awkward questions and certainly few clear answers are ever given.


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