Seems the football world is doing its best to shame spurs into submission.
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He could be worth a lot less right now given 80% of Tavistok's investments are Sport, entertainment, restaurants, Golf resorts, Oil & Gas, & Retail.
His Finance holdings might see him well through this crisis given that he made the bulk of his fortune with Soros betting against the pound on Black Wednesday, then again he lost 50% of his entire fortune when Bear Sterns went tits up in the Financial crash of '08. Probably only his agriculture side of the business is going to see an uptick.
There’s some on here that would love to see ENIC replaced with a rich oil baron who will pump millions into the club. But won’t pay a penny in tax from the UAE or Qatar.
But our owner is a cunt for not paying tax because he doesn’t live here either?
It’s not the lack of tax people have issue with, it’s the person. And his apparent lack of investment.
But our owner is a cunt for not paying tax because he doesn’t live here either?
It’s not the lack of tax people have issue with, it’s the person. And his apparent lack of investment.
Joe Lewis when another member of the Spurs staff gets sacked
You couldn't be more wrong, I have major issues with both
Lewis is shameless and Levy is unconcerned, unfortunately.
This is true and also immaterial. His wealth will recover rather quickly (less than 2 years) and his liquidity is more than plenty to cover the club in the meantime.
Unless someone knows otherwise I do not believe Lewis has ever put any money into the club. He has no loyalty to the club or country. He may not even be aware of the media outrage. He is not going to put money into the club. If the club uses it's own cash to pay for the staff then that money is not available to pay for new players, refund those that paid for tickets including season ticket holders and traders supplying goods. They will have no income for months and still have to pay the players especially as there is no sign of them agreeing a reduction.
If the Government did not want Premiership clubs to benefit from this scheme then they should have written the rules that way. Hancock did criticise the players not the club taking Government money. Whilst I do have concerns how the Country will recover economically, the amount The club will take will be small compared to the total debt.
If Premiership clubs have spare cash then I would rather they support clubs in the lower leagues to stop a major contraction in playing leagues than refuse Government money they are entitled to have.
If the Government did not want Premiership clubs to benefit from this scheme then they should have written the rules that way. Hancock did criticise the players not the club taking Government money. Whilst I do have concerns how the Country will recover economically, the amount The club will take will be small compared to the total debt.
If Premiership clubs have spare cash then I would rather they support clubs in the lower leagues to stop a major contraction in playing leagues than refuse Government money they are entitled to have.
I can't stand the bloke mate (for his tax evasion) but you can't bring up one without the other, so they are material. No one will know how much cash he has in the mattress, it may all well be tied up in Picasso's and Yachts which all may well be worth fuck all in a market where everything other than food and facemasks is declining.
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SunSport Exclusive: Tottenham Chairman Daniel Levy offers to pay club cleaning staff... if they scrub his toilet!
Someone worth what he is worth has enough money to cover the staff for quite a while. He just doesn't want to.
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For context with excepts below for those that are interested.
Inside Liverpool’s U-turn: a ‘leak’, a toxic backlash and real money worries
Liverpool rushed into announcement in belief another club had told of their fateful decision to furlough staff. Here's what happened next...theathletic.com
The Athletic understands principal owner John W Henry, chairman Tom Werner (both pictured top) and FSG president Mike Gordon were “shocked” by the torrent of criticism and stung by what they regard as unfair accusations of greed. During a series of conference calls on Monday, they were in full agreement that back-tracking was the best solution to limiting the damage caused by the fallout.
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Managing director Billy Hogan and Moore answer to him and the trio spoke extensively before the initial decision to furlough was taken last week. From a business perspective, they all felt it was crucial to help ease the current cash-flow issues. All revenue streams have dried up in the current crisis but overheads remain huge and even for a club the size of Liverpool that’s a major headache.
As well as an annual wage bill of £310 million, there are payments on previous transfers due in the coming months. There’s uncertainty over whether TV money will need to be repaid and if the next installments from global sponsors will be forthcoming given that with no games being played Liverpool are currently unable to fulfill their side of the bargain.
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Liverpool’s latest accounts may have shown a pre-tax profit of £42 million but FSG insists those figures are almost a year old and all money generated is reinvested into the club as it constantly looks to balance the books.
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As a major UK taxpayer and one of the biggest employers in the city with a staff of around 800, FSG felt it was entitled to utilise the coronavirus fund to help safeguard jobs.
Bigger companies than Liverpool FC have turned to the government for help and they currently have hundreds of operational, hospitality and catering staff who have no work to do in the continued absence of Premier League football.
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The club hierarchy believed criticism of their furlough decision would be mitigated by the fact that, unlike Tottenham Hotspur, they would be topping up the 80 per cent coming from the government with the remaining 20 per cent to ensure that no employee would be left out of pocket.
They were wrong. And the backlash over the weekend was so toxic that The Athletic understands a number of other Premier League clubs who had intended to announce the furloughing of staff have since decided to shelve those plans.
“That kind of thing was almost expected of Daniel Levy and Mike Ashley but you don’t expect Liverpool to go down that same route,” one Liverpool staff member, who asked to remain anonymous, told The Athletic.
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Moore also rang the Mayor of Liverpool Joe Anderson and the region’s Metro Mayor Steve Rotheram as well as local MPs Ian Byrne and Dan Carden. Byrne, a lifelong Liverpool fan, tells The Athletic: “Peter asked me what I thought and I told him that I’m in favour of using furlough if it means retaining jobs, as the overriding priority has to be that staff members get paid.
“Everyone was delighted when British Airways went into furlough as it saved jobs but the reality is that football gets judged by a different set of rules. With football clubs, there is a moral side to this.
What nobody mentions is that Liverpool were embarrassed that it would be revealed they had only paid £2m in corporation tax in the last 2 years despite making record profits (by comparison Spurs have paid £43m over last 2 years).
Liverpool good at doidging paying taxes
And the cost to taxpayer of Liverpool's proposed furlough funded by tax payer.....
Premier League 'could lose £1bn' if season cannot end
The Premier League warns of a potential £1bn loss - while FA chairman says the wider English game faces "the danger of losing clubs and leagues".
www.bbc.co.uk
The FA getting concerned at the number of clubs that might go under, some in Pl, but a much greater problem in the lower leagues
Sports are a unique venture in that owners should not expect to make a sustainable profit every year. It's designed to be a toy for rich people, to put it bluntly, and ideally rich people who want to win things to stroke their ego. So expectations of what to expect from owners will differ from a traditional business.
In an ideal world, Spurs never turn a profit yet run sustainably, in the long run. Yes, profits and losses occur, but over time they should even out. And in instances of extraordinary circumstance, there is additional capital ready to be invested from said owner.
This entire episode has been, in my opinion, counterproductive. Ideally, clubs take the 80% from the government, top off the 20% for their staff, and then invest the 80% they save into the community for relief efforts.
Also, people really don't understand how large/small football clubs are. Owners are rich. Clubs are breakeven operations at best.
PFA had been talking to PL for 2 or 3 weeks, and no sensible suggestions were coming from PFA except talking (and nothing has come from PFA hence PL announcing clubs to have direct talks with players, bypassing PFA)
I still believe Levy's motive of furloughing staff paid under £30k pa (HMG limit of £2.5k per month) was to highlight nationally the issue of players pay not being reduced (which it certainly has) and force PFA's to show its colours (and PFA showed it was totally out of touch)
THST say 40% of the 550 staff were furloughed, so lets say 40% is 200 staff at a maximum of £2,500 per month which is £500k per month - total £3m saving for Spurs if football doesn't return until September.
Peanuts for Spurs.
So don't believe he was focussing on saving that amount - much bigger issues around. But huge publicity - and Levy is thick skinned enough to do that to make players wages a big issue.
Levy's announcement was made after March payroll was paid, certainly be interesting to see what happens before April payroll is run, especially if a deal is done with players. Wouldn't surprise me if Levy does reverse the decision, if his action resolves position regarding player wages..
Meanwhile Spurs are helping out in the community (loaning medical staff to NHS, loaning stadium for use as foodbank store/distribution centre etc) which is why when Sadiq Khan wrote to London based clubs Chelsea, Woolwich, Wham Fulham and lower league clubs he made the point he was asking them to do things making the point Spurs were already doing more than he was asking them to do.
Lets see how things play out before making a final judgement.