1. Assuming the Tottenham Hotspurs continues in their current stadium following their current player strategy.

a. Perform a DCF analysis using the cash flow projections given in the case. Based on this DCF analysis, what is the value of the Tottenham Hotspurs?

b. At the current stock price of 13.80, is the Tottenham Hotspurs fairly valued? Is the stock over-valued or under-valued? Explain why.

2. Using the DCF approach, evaluate each of the following decisions:

a. Build a new stadium

b. Sign a new striker

c. Build a new stadium and sign a new striker

3. Based on the results from (2), select a best choice and provide a logical argument to support it.