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Management Vinai Venkatesham - CEO

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Seems to me Vinai is under the same constraints from ENIC/Lewis family as Levy was on wages. Vinai and to some extent Charrington would be involved in the contract for Romero, wage websites has Romero's new contract at around £10 million per season , as he is captain you would think that that is the ceiling on wages, still below rivals.
1. We cannot compete with financially doped clubs like Man C, Chelsea, PSG etc.
2. We don't know what incentive based additions there are to players salaries. Romero may be on £200k per week basic, but his contract may include a massive bonus for winning competitions that could see him earn up significantly more, or a re-signing on fee that was not made public and will be spread across his contract.
3. Players who score and create goals will always earn more than those who stop them. If Romero is on £200k per week I'd expect we would pay close to £250/300k per week for a super star forward.

It is also important we do not overpay relatively average players. For example, players like Bentancur and Richarlison are simply not £200k per week players (unless they move to Saudi - win/win). Longer term, we should be looking to shift wages spend from 40% of revenue to 50-55% of revenue to be more competitive.
 

It's the Vinai show' - meet the former Woolwich chief who now runs Spurs​

A good read re how vinai operates
"When it comes to making football-related decisions it is very likely he will be guided by the expertise of head coach Thomas Frank and technical director Johan Lange...That may sound a given. But ask managers up and down the country - it isn't."

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Seems to me Vinai is under the same constraints from ENIC/Lewis family as Levy was on wages. Vinai and to some extent Charrington would be involved in the contract for Romero, wage websites has Romero's new contract at around £10 million per season , as he is captain you would think that that is the ceiling on wages, still below rivals.

In principle Vinai does have the same financial constraints as Levy - living within the money generated by the club.

However if the Lewis family wish they can ensure there is more money available to Spurs.

1. Outside investment by way of a full sale of club whereby incoming owner commits to putting money into the club or issue of more shares (= cash into club) to a new minority investor or even money directly put in by Lewis family/Tavistock Group.

2 New management bring in new commercial deals - for example the AIA sponsorship was taken out in 2019 to help secure finance to build stadium, and runs the 2026/27. Maybe Vinai can renegotiate that to a much higher annual sponsorship sum re-starting the contract from start of 2025/26. Or maybe there are other commercial sponsorship contracts Vinai has his eyes on.

3. Spurs have a lot of property assets in Tottenham, as does enic or other Lewis vehicles, maybe there is a plan to sell the property assets with some cash going into Spurs. Need to take some care as IMO these are needed to repay the billion dollar bonds which financed the stadium.

So there are ways in which more cash can be put into Spurs which would ease the financial constraints on Vinai.
 
Warning - boring post ...

Many people, inc. football fans, do not appreciate how a big company operates (and we're a big company whether you like it or not). The difference between an executive Chair and a non-executive Chair really is massive.

Under Levy (Executive Chair), the board of directors were basically his hand picked lieutenants (e.g. Donna Cullen, Matthew Collecott, Scott Nunn etc.). This made Levy all powerful and difficult to hold to account, what he said went. In simple terms, an Executive Chair works full time job and is the big boss, of both the company and the board of directors.

In the new system (which aligns to industry best practise), the CEO works full time (and is the operational leader of the company). And the Non-Executive Chair, whi is not full time, leads the board of directors (who ultimately hire and fire the CEO). They board of directors typically is a mix of Executive Directors (full time executives who work every day running the company) - CEO, CFO etc. and between 6 and 10 non-executive directors (NEDs), and is led by the Chair. NEDS are typically specialists in areas relevant to the business. The board typically meet quarterly to track progress against long term strategy, and hold the executives accountable to it. Daniel Levy would actually make a fantastic non-executive Director (as he is a specialist in finance, property development and football legislation and governance), and although it is too 'raw' for him to sit on our board in this capacity, if I was the non-Exec Chair of a top 10 club in world football I'd be looking to appoint him as a NED on my board ASAP. Do not be surprised to see him pop up as a NED at Man U or Liverpool. NEDs attend board meetings 4 times a year (typically held over 2-3 days each quarter) and do not work full time. NEDs also typically sit on multiple boards across different industries and have fantastic business contacts.

Basically, the Chair is accountable to the owners of the company (shareholders) and the CEO is accountable to the board (led by the Chair).

The way this will work now is that Peter Charrington as Non-Executive Chair will lead the board and hold our CEO (Vinai Venkatesham) accountable to the owners' strategy. It sounds like this will primarily be focused on being more successful on the pitch, whilst seeking more investment off it, and Levy''s failure to deliver both is ultimately what got him fired IMO.

This really is a fantastic step for the fans of Tottenham Hotspur FC. Exciting times.


Martin Samuel from The Times makes some good points

Tottenham’s fun times are starting now Daniel Levy has gone? Really?​

Share
www.thetimes.com
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Only now that Daniel Levy has gone can his greatest achievement as the chairman of Tottenham Hotspur be revealed. Imagine doing 25 years as a minority shareholder resisting the bold intentions of Joe Lewis and his Enic group to spend, spend, spend.

Who knew? Despite his title and status, we always thought of Levy as a very well-remunerated employee, doing his boss’s bidding. That he was as good as sacked appears to confirm this. If he appeared frugal and prioritised Tottenham as a business entity, it was because that was the policy demanded.

Supporters were angry, managers frustrated, Tottenham often appeared on the brink of a breakthrough only to retreat at a vital moment. Yet that was Levy’s job, to run the tightest ship. In many ways, it worked. Levy’s acumen built the country’s best stadium, an equally admired training ground, and it helped establish Tottenham in English football’s elite. Yet on the day he left that was all chopped liver. “More wins, more often,” was the brief from those who remain. “Generations of the Lewis family support this special football club and they want what the fans want.”



Tottenham Hotspur v West Bromwich Albion - Premier League

It emerged that Levy was not aware he would be leaving Spurs until the morning of the announcement

MARC ATKINS/MARK LEECH SPORTS PHOTOGRAPHY/GETTY IMAGES
Really, so what was Levy doing for a quarter of century? Going rogue? It might be the Lewis family that is now in charge — siblings Vivienne and Charlie — but nobody told their father Joe how to run his affairs. Harry Redknapp found that out the day he was sacked. Redknapp’s future was in the balance. He knew Tottenham had spoken to other managers, including Brendan Rodgers and maybe André Villas-Boas, about his job, and his time there looked to be coming to an end; but Levy was keeping his options open and had also discussed the possibility of a contract extension. Paul Stretford, Redknapp’s agent, was negotiating with Levy, while Lewis was present on speakerphone. Redknapp was told it was Lewis’s intervention that brought the conversation to an abrupt end with words both brutal and profane. Put it like this: there was absolutely no doubt, in that room, who ran Tottenham. Not Levy.

So, go in a different direction, but unless there has been an epiphany at Enic, the idea that Levy and the owners were pulling in opposite directions seems far-fetched. At any time, a new strategy could have been handed down. Had Lewis, or Enic, wished to spend as Liverpool have done this summer, financial rules permitting, it could have happened. Hell, had anyone above wanted Levy to stop breaking Crystal Palace’s nuts over the fee for Eberechi Eze, the same applies.

Levy may have enjoyed his reputation as the toughest negotiator, but it had to chime with what the owners demanded.

If it was only Levy’s ego making Tottenham lose good signings that Enic were happy to finance, he would have been swiftly reined in.
Indeed, if the plan is to take the shackles off, why has this decision happened only after the summer transfer window has closed? Tottenham missed out on Eze and Morgan Gibbs-White when a truly ambitious offer with urgent timing could have quickly closed both deals. If Levy was the obstacle to that, why was he still in a job? Tottenham won the Europa League final on May 21, the summer transfer window opened on June 16. That’s almost a month in which Levy could have left on the highest of highs.

First trophy in 17 years, Champions League football in the offing, bright future ahead. Instead he stayed on, drove a few more hard bargains, saw another couple of big-ticket items slip through his grasp. If his plan was so very different to that of the owners, it makes no sense. In reality, Levy was so unaware of his impending doom that he still had meetings in his diary on the day he was sacked.

Taking Tottenham forward is their chief executive Vinai Venkatesham, who held the same role at Woolwich from September 2020 to the end of the 2023-24 season, a glorious period in which the club won the 2023 Community Shield. He was at Woolwich in a variety of roles for 14 years, but without the responsibility he will have now.

Let’s face it, nobody blames the chief commercial officer if the team come sixth. It’s not as if Spurs have recruited David Dein, the boardroom architect of the Arsène Wenger years.

The new non-executive chairman is Peter Charrington, who has deep Lewis family connections as a director of Enic and a senior partner at Nexus Luxury, a company that operates the Albany resort in the Bahamas, co-owned by Tavistock Group, the investment vehicle of Joe Lewis. Charrington is an ally of Vivienne Lewis but his background is private banking, luxury real estate and wealth management — not football. He seems a man more versed in monetising Spurs for their owners than building a team to match Liverpool, so policy over the next 12 months will be interesting.

Say what you like about Levy, but he was very good at what he was asked to do, and it is very unlikely that remit ever included spending whatever it took to win the title. If that is now the primary interest of Tottenham’s new regime — “more wins, more often” — wouldn’t his football experience still make him the best man for that job? Go on, bid the extra £5 million for Eze, Daniel. Blow Nottingham Forest out of the water, mate.

Ironically, if Levy has worked within Enic’s limitations for decades, as seems likely, he may end up feeling as short-changed as his managers.

He would be understandably aggrieved at not being asked to stick around for the fun part; if there is, of course, a fun part. We shall see.
 
Martin Samuel from The Times makes some good points

Tottenham’s fun times are starting now Daniel Levy has gone? Really?​

Share
www.thetimes.com
direct
Only now that Daniel Levy has gone can his greatest achievement as the chairman of Tottenham Hotspur be revealed. Imagine doing 25 years as a minority shareholder resisting the bold intentions of Joe Lewis and his Enic group to spend, spend, spend.

Who knew? Despite his title and status, we always thought of Levy as a very well-remunerated employee, doing his boss’s bidding. That he was as good as sacked appears to confirm this. If he appeared frugal and prioritised Tottenham as a business entity, it was because that was the policy demanded.

Supporters were angry, managers frustrated, Tottenham often appeared on the brink of a breakthrough only to retreat at a vital moment. Yet that was Levy’s job, to run the tightest ship. In many ways, it worked. Levy’s acumen built the country’s best stadium, an equally admired training ground, and it helped establish Tottenham in English football’s elite. Yet on the day he left that was all chopped liver. “More wins, more often,” was the brief from those who remain. “Generations of the Lewis family support this special football club and they want what the fans want.”



Tottenham Hotspur v West Bromwich Albion - Premier League

It emerged that Levy was not aware he would be leaving Spurs until the morning of the announcement

MARC ATKINS/MARK LEECH SPORTS PHOTOGRAPHY/GETTY IMAGES
Really, so what was Levy doing for a quarter of century? Going rogue? It might be the Lewis family that is now in charge — siblings Vivienne and Charlie — but nobody told their father Joe how to run his affairs. Harry Redknapp found that out the day he was sacked. Redknapp’s future was in the balance. He knew Tottenham had spoken to other managers, including Brendan Rodgers and maybe André Villas-Boas, about his job, and his time there looked to be coming to an end; but Levy was keeping his options open and had also discussed the possibility of a contract extension. Paul Stretford, Redknapp’s agent, was negotiating with Levy, while Lewis was present on speakerphone. Redknapp was told it was Lewis’s intervention that brought the conversation to an abrupt end with words both brutal and profane. Put it like this: there was absolutely no doubt, in that room, who ran Tottenham. Not Levy.

So, go in a different direction, but unless there has been an epiphany at Enic, the idea that Levy and the owners were pulling in opposite directions seems far-fetched. At any time, a new strategy could have been handed down. Had Lewis, or Enic, wished to spend as Liverpool have done this summer, financial rules permitting, it could have happened. Hell, had anyone above wanted Levy to stop breaking Crystal Palace’s nuts over the fee for Eberechi Eze, the same applies.

Levy may have enjoyed his reputation as the toughest negotiator, but it had to chime with what the owners demanded.

If it was only Levy’s ego making Tottenham lose good signings that Enic were happy to finance, he would have been swiftly reined in.
Indeed, if the plan is to take the shackles off, why has this decision happened only after the summer transfer window has closed? Tottenham missed out on Eze and Morgan Gibbs-White when a truly ambitious offer with urgent timing could have quickly closed both deals. If Levy was the obstacle to that, why was he still in a job? Tottenham won the Europa League final on May 21, the summer transfer window opened on June 16. That’s almost a month in which Levy could have left on the highest of highs.

First trophy in 17 years, Champions League football in the offing, bright future ahead. Instead he stayed on, drove a few more hard bargains, saw another couple of big-ticket items slip through his grasp. If his plan was so very different to that of the owners, it makes no sense. In reality, Levy was so unaware of his impending doom that he still had meetings in his diary on the day he was sacked.

Taking Tottenham forward is their chief executive Vinai Venkatesham, who held the same role at Woolwich from September 2020 to the end of the 2023-24 season, a glorious period in which the club won the 2023 Community Shield. He was at Woolwich in a variety of roles for 14 years, but without the responsibility he will have now.

Let’s face it, nobody blames the chief commercial officer if the team come sixth. It’s not as if Spurs have recruited David Dein, the boardroom architect of the Arsène Wenger years.

The new non-executive chairman is Peter Charrington, who has deep Lewis family connections as a director of Enic and a senior partner at Nexus Luxury, a company that operates the Albany resort in the Bahamas, co-owned by Tavistock Group, the investment vehicle of Joe Lewis. Charrington is an ally of Vivienne Lewis but his background is private banking, luxury real estate and wealth management — not football. He seems a man more versed in monetising Spurs for their owners than building a team to match Liverpool, so policy over the next 12 months will be interesting.

Say what you like about Levy, but he was very good at what he was asked to do, and it is very unlikely that remit ever included spending whatever it took to win the title. If that is now the primary interest of Tottenham’s new regime — “more wins, more often” — wouldn’t his football experience still make him the best man for that job? Go on, bid the extra £5 million for Eze, Daniel. Blow Nottingham Forest out of the water, mate.

Ironically, if Levy has worked within Enic’s limitations for decades, as seems likely, he may end up feeling as short-changed as his managers.

He would be understandably aggrieved at not being asked to stick around for the fun part; if there is, of course, a fun part. We shall see.
Hmm. Redknapp was sacked for taking his one good eye off the ball and blowing the season pimping himself out for the England job.

Phoning Levy to discuss his contract as Levy was attending his mother's funeral probably didn't help.
 
1. We cannot compete with financially doped clubs like Man C, Chelsea, PSG etc.
2. We don't know what incentive based additions there are to players salaries. Romero may be on £200k per week basic, but his contract may include a massive bonus for winning competitions that could see him earn up significantly more, or a re-signing on fee that was not made public and will be spread across his contract.
3. Players who score and create goals will always earn more than those who stop them. If Romero is on £200k per week I'd expect we would pay close to £250/300k per week for a super star forward.

It is also important we do not overpay relatively average players. For example, players like Bentancur and Richarlison are simply not £200k per week players (unless they move to Saudi - win/win). Longer term, we should be looking to shift wages spend from 40% of revenue to 50-55% of revenue to be more competitive.
On point

1. We could absolutely compete with wages with Woolwich, Liverpool until like a year or two ago, whole they still spent much more. We could offer more than the Inter's, Napoli's, Atletico's, hell, even Atletic Bilbo's offer a bigger wage to their best player. But we just don't.

We are capped at a risk averse level. Whether ENIC are going to increase wages remains to be seen. But giving a 22 year old, largely unproven AM close to £200k a week suggests that shift may me underway, but I'll Iwaot until the next 12 or so months bring before jumping to conclusions.

As you, if we got to 50-55%, we'd be paying big boy wages.
 

Imma give you a chance, VV.

Infinitely better communicator than Bladcunt.

Infinitely more personable.

You and Lewis family be faithful and follow-up those words with action and we'll be alright.

Warning: looks like half your thatch has already scarpered. Being bald is fine...just be careful not to become the next Baldcunt.

P.S. "...we need to make sure we're selling players at the right time" was a nice rib-dig at Levy. You won a couple thinky points with that one.
 
I noticed that the narrative was very much around "the family" in that interview, where both the presenter and Vinai seemed to be intentionally calling them 'the family', ie it seems as though they were told to do so; only to have the word "Lewis" oddly dubbed over the audio into the chat at at 2:34 in between "the family".

Seems like they already can't make their mind up on the messaging. Bring back Daniel? :levyeyes:
 
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