Levy out?

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Levy Out?

  • Yes

  • No

  • Not sure. On the fence

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John Thomas said:
Well, colour me surprised

Club as rich as Tottenham should not claim government cash
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Does anyone really give a shite what Henry Winter says?

Does he comment on the hundreds upon hundreds of UK companies with higher revenue that Spurs, that will also end up furloughing staff, if they haven’t already? And are you on an HSBC forum complaining about their CEO for not dishing out some of the £120b they turned over last year? Yes, that was a b, not an m.
 
pipes said:
Does anyone really give a shite what Henry Winter says?
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If he'd said something like
Levy has shone through like a beacon in these dark disturbing times showing huge generosity to the non playing staff of the club...
you and others would have been all over it like flies over shit.
 
But what already is, and will likely continue to rage on, is the outrage over a conspicuous line buried deep into Tottenham’s financial report. This line announces a bonus for directors of the club totaling £6.4m, £3m of which went to Daniel Levy himself. This bonus is in addition to his salary of £4m, earning him £7m not long before he announced putting many of his staff on government assistance.

Many people are rightly very angry with Daniel Levy, the Premier League’s highest paid director. Taking government assistance and reducing staff wages while paying out massive million Pound bonuses to the executives is so jarringly villainesque. It’s like a Scrooge McDuck bit from an old Disney cartoon, and epitomizes late stage capitalism. It is quite simply a very bad look for an already polarizing figure.

here here!
 
John Thomas said:
If he'd said something like
Levy has shone through like a beacon in these dark disturbing times showing huge generosity to the non playing staff of the club...
you and others would have been all over it like flies over shit.
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Nope. I’d have said he was both tonguing arse and speaking shite at the same time.

To be clear - we could and should have spent more money in the past few years. Levy takes a portion of the blame for that. But I’m glad we didn’t as we’ll need a strong financial base now.

Levy does some things wrong and some things right.
 
Its absolutely shameful and embarassing that all the clubs staff are the first to get a pay cut, and players are still raking in millions. It's the staff who will feel the worst of this and yet they are the ones to get hurt.
 
anderton46 said:
Its absolutely shameful and embarassing that all the clubs staff are the first to get a pay cut, and players are still raking in millions. It's the staff who will feel the worst of this and yet they are the ones to get hurt.
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I agree. Who do you think is to blame for this? I assume Levy as you’ve posted in the Levy Out thread.

I blame the players.

I also think there may be issues around agent percentages, leading to a delay in reductions being announced.
 
pipes said:
I agree. Who do you think is to blame for this? I assume Levy as you’ve posted in the Levy Out thread.

I blame the players.

I also think there may be issues around agent percentages, leading to a delay in reductions being announced.
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Yeah, maybe the agents could sign up all of the backroom staff on five year contracts. Then they would get their usual cut for doing nothing (no change there then) and there would be no way that Levy would dare cut their pay without expensive lawyers turning up at his door.
 
Coys1955 said:
Yeah, maybe the agents could sign up all of the backroom staff on five year contracts. Then they would get their usual cut for doing nothing (no change there then) and there would be no way that Levy would dare cut their pay without expensive lawyers turning up at his door.
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I get the humour but I don’t think Levy just can’t be arsed or is scared of lawyers. I just think it’s probably going to take more than a week to come up with a plan to keep a half billion revenue company operating safely, liaise with the rest of the teams over the future, etc.

I’d imagine talks are in place with the PFA, players, their agents, their management, etc already. But it won’t be simple. So many stakeholders in a player, do they all take cuts? Give their whole percentage back? Not take a cut? How about Toby’s aupair? Hugo’s vintner? Tanguys chef? Do they get cut too? Or not, because their boss makes more than they do?

I’ve no idea, and doubt anyone else does. What I do know is it’ll take longer than a week to sort out.
 
paddygspur said:
"Let me reiterate, even if UEFA revenues were completely removed from the calculation, Spurs would still only spend 50.7% of their total revenue on player wages, which would STILL be the lowest ratio in the Premier League!. "

WOW
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That’s going to change with the new stadium though. You can see the jump up from 2018 in the accounts.

Keeping player wages low is a good thing though isn’t it. Everyone is up in arms about them being paid too much for once.
 
John Thomas said:
Think this definately warrants a place in this thread, guys


Amid COVID-19 uncertainty, Tottenham’s newest financial report provides some stability
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TBF, I think that is, on the whole, a well written piece and I agree with most, if not all, of it.

The only slight quibble I have, is that it is a bit misleading in places.

Our Net profit, after tax etc was £68m not £147m
The article doesn't state that subsequent to the accounting period we spent a further £184m on "player registration".

Does anyone know if the wages figures include the bonuses that players are on, or are they the basic wage?
 
stevee said:
TBF, I think that is, on the whole, a well written piece and I agree with most, if not all, of it.

The only slight quibble I have, is that it is a bit misleading in places.

Our Net profit, after tax etc was £68m not £147m
The article doesn't state that subsequent to the accounting period we spent a further £184m on "player registration".

Does anyone know if the wages figures include the bonuses that players are on, or are they the basic wage?
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reported wages in submitted accounts will include bonuses. As also will show managerial payoffs etc. (usually shown as special payments)
 
Brian Fantana said:
Keeping player wages low is a good thing though isn’t it. Everyone is up in arms about them being paid too much for once.
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Spectacular.

Hadn’t thought of that!

“Levy is a tight cunt and won’t pay the wages we need to attract the best players”

Pandemic hits.

“Fucking greedy bastard players not giving up a whacking percentage of their wages.”

Toys properly depart from the pram.

Suddenly TFC has gone all communist. Weird.
 
paddygspur said:
"Let me reiterate, even if UEFA revenues were completely removed from the calculation, Spurs would still only spend 50.7% of their total revenue on player wages, which would STILL be the lowest ratio in the Premier League!. "

WOW
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Revenues increased so rapidly that even the increased contracts Levy gave out to Kane, Dele, Son, etc..really didn't matter. It's kind of nuts.

Moving forward, the stadium pays for itself and then some (only 25m in interest a year), so even if you remove European football entirely, given what THS generates and the new commercial deals, the lowest expected revenue (not profit) for the club would be around 350m. Given this is worst case, you should use 60-70% of that as your base level wages, which is between 210m and 245m.

In other words, moving forward, there is no reason why Spurs shouldn't be spending in that range on wages and basically have all previous year profits as transfer money.
 
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