Daniel Levy - Chairman

[thfcsteff]

His salary or bonus is irrelevant in all this, it’s just how it is.

I have NO problem with people being rewarded for their work mate, and no problem with Levy taking "a" bonus. But given that it was a year late, is it unreasonable to assume a lower bonus might've been in order? I am sure it is contract percentage based, but he could pass some back right now.

I personally don't know anyone who got a fat bonus for being a year late on delivering a project. I know it was immense, but it was late!

As asked by someone, what would the ontime bonus have been?!!!

 

[thfcsteff]

Isnt a club in the world that doesn’t live like us and would be Naive to say otherwise.

BTW do you live in Dubai or you did? Happy to take the wages funded by or in a morally
bankrupt nation?? Can’t have it all ways

I'm sorry, you need to edit this. You're getting personal based in things you don't know. Dangerous ground.

 

[Legohamster]

Honest question, not point scoring or any rubbish.
Would ST holders be willing "donate" the remainder of their ST credit or whatever to a fund for the staff?
Obviously I'm not involved, not being a ST holder, but it's something maybe the trust could suggest.
I spend maybe £100/150 a year in the online shop, I would gladly donate some of that to the staff.

That’s a nice gesture, but think about it

Levy would be more than happy for fans to cover the wages but not him

 

[AuroRaman]

Random: A mate of mine joked the other day he’s surprised Levy hasn’t turned the stadium into a premium price private hospital. Hopefully that doesn’t happen!

Is your mate @scaramanga and was he in fact being serious?

 

[Glenda's Legs]

So it’s being reported that the club are paying 80% of the wages and the staff can then use Fulough to top that up

Thats comes from a lad on twitter who works for the club (his words i have no evidence) who was also told the decision was made as it protects benefits and keeps their job as and when football returns at some point in the future

That is how I initially read the announcement, but then thought maybe it was just a cleverly worded way of saying the furlough would pay 80% and the employees would lose the other 20%. If what this employee is saying is true, then that is a much better situation. Not ideal of course but much better.

I do think Levy is acting in advance of a possible cash flow issue, and is looking longer term, not just at the next couple of months. £15M-£16M might not sound much for a company of our size, (although you need to add to that NI contributions, pension contributions, possibly other benefits but yes, still relatively small in the grand scheme of things) but if games are not being played, then there is a lot of associated revenue at risk - tv, sponsors (shirt, matchday, clothing, transport etc) who will not be getting the exposure they have paid for. Games being played behind closed doors eventually might alleviate some of that, but not all.
People expecting Levy to just put in his own cash to cover wages are not being realistic (and who is to say he has big personal cash reserves? I doubt he leaves his bonus sitting in his current account). It's not how things work in the real world and there is also the little thing of FFP to keep an eye on (again, small amounts so maybe not an issue but it still be non-income related revenue (or maybe it doesn't apply to the non-playing side?). Plus of course loans to be repaid, or payments to be renegotiated, which would take time.
I would certainly expect any bonuses, pay rises for senior executives for this year to be put on hold if staff are being laid off or suffering wage reductions.
But the thing we really need is to be able to come to some arrangement on player salaries. When that is in place, Levy will have a better picture of our potential financial situation.

I admit I am probably more defensive of Levy than I would normally be in any employer v employee situation but I do believe he is doing what he is doing in the best long-term interests of the club.

 

[scaramanga]

"Yesterday, having already taken steps to reduce costs, we ourselves made the difficult decision – in order to protect jobs – to reduce the remuneration of all 550 non-playing directors and employees for April and May by 20% utilising, where appropriate, the Government’s furlough scheme."

Wait what? "...where appropriate, the Government’s furlough scheme."

A company that pays certain employees £100k+ a week is getting the British tax payers to pay the wages of their low paid workers???

We pay a fudging fortune in theft taxes every year. If the govt is giving some back then we absolutely should be taking every available penny.

 

[Bedfordspurs]

That is how I initially read the announcement, but then thought maybe it was just a cleverly worded way of saying the furlough would pay 80% and the employees would lose the other 20%. If what this employee is saying is true, then that is a much better situation. Not ideal of course but much better.

I do think Levy is acting in advance of a possible cash flow issue, and is looking longer term, not just at the next couple of months. £15M-£16M might not sound much for a company of our size, (although you need to add to that NI contributions, pension contributions, possibly other benefits but yes, still relatively small in the grand scheme of things) but if games are not being played, then there is a lot of associated revenue at risk - tv, sponsors (shirt, matchday, clothing, transport etc) who will not be getting the exposure they have paid for. Games being played behind closed doors eventually might alleviate some of that, but not all.
People expecting Levy to just put in his own cash to cover wages are not being realistic (and who is to say he has big personal cash reserves? I doubt he leaves his bonus sitting in his current account). It's not how things work in the real world and there is also the little thing of FFP to keep an eye on (again, small amounts so maybe not an issue but it still be non-income related revenue (or maybe it doesn't apply to the non-playing side?). Plus of course loans to be repaid, or payments to be renegotiated, which would take time.
I would certainly expect any bonuses, pay rises for senior executives for this year to be put on hold if staff are being laid off or suffering wage reductions.
But the thing we really need is to be able to come to some arrangement on player salaries. When that is in place, Levy will have a better picture of our potential financial situation.

I admit I am probably more defensive of Levy than I would normally be in any employer v employee situation but I do believe he is doing what he is doing in the best long-term interests of the club.

As always
And as I’ve said before
More clubs would do it if they actually paid taxes I believe

 

[Bedfordspurs]

I have NO problem with people being rewarded for their work mate, and no problem with Levy taking "a" bonus. But given that it was a year late, is it unreasonable to assume a lower bonus might've been in order? I am sure it is contract percentage based, but he could pass some back right now.

I personally don't know anyone who got a fat bonus for being a year late on delivering a project. I know it was immense, but it was late!

As asked by someone, what would the ontime bonus have been?!!!

He owns the club
He can pay himself what he wants out of the profits
That’s the thing people forget and keep on thinking he is an employee

 

[ShipOfTheseus]

The acid test of all this isn't whether the club and its directors take advantage of the furlough scheme, which is there for everyone on PAYE. I'm more interested in what happens next year, when corporation tax, tax on dividends, income tax and everything else is ratcheted up to pay for all this, and how aggressive everyone associated with THFC is in minimising those liabilities.

 

[glasgowspur]

That’s a nice gesture, but think about it

Levy would be more than happy for fans to cover the wages but not him

Ultimately we as the consumer of THFC in some capacity are going to pay, either in increased tickets or merchandise.
As much as I love and support the club I would rather help those associated with the club who will need the money now.

As I said in another post, I'm very fortunate that there's no drop in our household income, this is something I'm extremely grateful for and when I see cases like this where diverting some expendable income from one source to another could help someone I'd be more than happy to do so.

 

[Grays_1890]

I have NO problem with people being rewarded for their work mate, and no problem with Levy taking "a" bonus. But given that it was a year late, is it unreasonable to assume a lower bonus might've been in order? I am sure it is contract percentage based, but he could pass some back right now.

I personally don't know anyone who got a fat bonus for being a year late on delivering a project. I know it was immense, but it was late!

As asked by someone, what would the ontime bonus have been?!!!

His bonus was on completion of the project regardless of timescale based on the project being the "end goal" of near 20 years of planning. Hence why he received it a year late. Its highly likely based on most building projects of this scale being late that time was not one of the driving KPIs towards his bonus, it happens.

 

[Bedfordspurs]

His bonus was on completion of the project regardless of timescale based on the project being the "end goal" of near 20 years of planning. Hence why he received it a year late. Its highly likely based on most building projects of this scale being late that time was not one of the driving KPIs towards his bonus, it happens.

If he wrote whatever KPI he chose as one of the owners of the club

 

[scaramanga]

The acid test of all this isn't whether the club and its directors take advantage of the furlough scheme, which is there for everyone on PAYE. I'm more interested in what happens next year, when corporation tax, tax on dividends, income tax and everything else is ratcheted up to pay for all this, and how aggressive everyone associated with THFC is in minimising those liabilities.

As aggressively as possible - as is the duty of anyone running any for-profit business.

 

[Grays_1890]

If he wrote whatever KPI he chose as one of the owners of the club

And why should he not, the project per say is hugely profitable as has his tenure been for the past 20 years. He has delivered a stadium beyond all recognition worldwide.

 

[parklane1]

I dunno. Things upset me about my family, but I'd never walk away from them, either. Same thing.

You wouldn't, either, so drop the act.

You're right, we've ceased being just a football club. What we are now is a half-way house, where we pretend to be one when it suits us, and revert to being a business when it doesn't.

I' m not perfect. I don't pretend I can walk away from something I've loved for as long as I have. But what I can do is point out when something is wrong - and this is wrong. We don't need to stoop as low as this, or be like this, milking the taxpayer while laughing our way to the bank in a time of urgent crisis.

You don't have to agree with me about Levy. But this is wrong, mate. No doubt other clubs will follow now, but we can be better than Mike fudging Ashley, who was the first one to do this.

Its no act mate if i ever got as sanctimonious as you are then i would walk away, you sit there foaming at the mouth about this but its just another dig at Levy from you and it is as simple as that.

 

[DeanoAustin]

And why should he not, the project per say is hugely profitable as has his tenure been for the past 20 years. He has delivered a stadium beyond all recognition worldwide.

Yeah, I can understand the argument about it being late but construction projects nearly always run over. What Levy delivered, and by all accounts he was involved in everything, is a beyond-world-class stadium that will not only serve the club well - it's been huge for the local area too.

It's a hell of a legacy to leave compared to the odd League Cup or FA Cup although I would love a few of those too.

 

[Grays_1890]

Yeah, I can understand the argument about it being late but construction projects nearly always run over. What Levy delivered, and by all accounts he was involved in everything, is a beyond-world-class stadium that will not only serve the club well - it's been huge for the local area too.

It's a hell of a legacy to leave compared to the odd League Cup or FA Cup although I would love a few of those too.

I think we need to win things 100% to cement any legacy but 3m for working by all accounts 16 hour days for 15-20 years at hat level and that involvement to deliver Spurs to become a global football power or at least dine at the top table, he deserves his salary. And that is not a pro Levy thats just reality of it all, could be anyone in that role and I would say the same.

I feel dreadful for the people on Furlough, I truly do but I am not having that the levels of pressure and involvement that Levy has as a day to day job is the same and can be judged the same based on a simple tally chart of like for like.

 

[scaramanga]

I think we need to win things 400% to cement any legacy but 3m for working by all accounts 16 hour days for 15-20 years at hat level and that involvement to deliver Spurs to become a global football power or at least dine at the top table, he deserves his salary. And that is not a pro Levy thats just reality of it all, could be anyone in that role and I would say the same.

I feel dreadful for the people on Furlough, I truly do but I am not having that the levels of pressure and involvement that Levy has as a day to day job is the same and can be judged the same based on a simple tally chart of like for like.

Bear in mind, it doesn't sound like everyone is being capped at £2.5k as per the govt advice. The statement looks like everyone is taking 80% so Spurs will be making up the difference at our own cost.

 

[thfcsteff]

He owns the club
He can pay himself what he wants out of the profits
That’s the thing people forget and keep on thinking he is an employee

Does that stop him from taking it/all of it?

 

[Finney Is Back]

So it’s being reported that the club are paying 80% of the wages and the staff can then use Fulough to top that up

Thats comes from a lad on twitter who works for the club (his words i have no evidence) who was also told the decision was made as it protects benefits and keeps their job as and when football returns at some point in the future

Is that even possible?

I thought that Furlough was used to temporarily suspend workers so that the employer is giving them nothing, the government then steps in and pays 80% of their salary (to a maximum of £2,500 per month I believe). I don't think that employers can continue to pay people and have government top it up (or other way round) I think it is all or nothing and the people that you Furlough cannot work for you during that period.