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Daniel Levy - Chairman

Regarding our finances. We had £120m in the bank when the accounts were filed. What we don’t know was what portion of that cash was used for last summer’s and the January purchases. We know that we have a £16m a month wage bill. We know we have debt interest payments (£25m in that accounting year) we will also have payment installments for our signings (and also some coming in from our sales). Theoretically the interest and player installments could be due in June, with us bringing in zero income from early March until then..... The cash in bank could well disappear or perhaps not even be enough. The question is whether we could feasibly carry even more debt, with us already carrying £657 million of it with a whacking great recession on the horizon.
 
If I was a high earning player now I would be working out the best way to get some of my income to the people that need it the most. That might not simply be by taking a pay cut as that would initially be money saved by the club and less tax paid to the govt.

Also - players can’t win in some cases. Do something good and announce it, and people have a pop that you’ve shouted about it. Do something good and don’t publicise it, and you’re seen as doing nothing.
 
I know many people on here won't accept criticism of the board and won't care what anyone else thinks.

But we are getting roundly panned for the decision multi billionaire Lewis and multi millionaire Levy have made, as well as the rather stellar company we're in with the decision we've made.

The optics are pretty fudging brick regardless of whatever else you may think.
 
Hootnow said:
I know many people on here won't accept criticism of the board and won't care what anyone else thinks.

But we are getting roundly panned for the decision multi billionaire Lewis and multi millionaire Levy have made, as well as the rather stellar company we're in with the decision we've made.

The optics are pretty fudging brick regardless of whatever else you may think.
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Come the end of all this i imagine most clubs will be taking up the scheme with many coming out the other side in serious financial difficulty - who was or who wasn't first to jump on the scheme will be largely forgotten and/or irrelevant
 
Benny_Lad said:
If I was a high earning player now I would be working out the best way to get some of my income to the people that need it the most. That might not simply be by taking a pay cut as that would initially be money saved by the club and less tax paid to the govt.

Also - players can’t win in some cases. Do something good and announce it, and people have a pop that you’ve shouted about it. Do something good and don’t publicise it, and you’re seen as doing nothing.
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I should imagine most footballers are already passing on income to a wider family group than most of us.

Agree on the second point, although an erroneous perception of you doing nothing doesn't actually matter.
 
Bedfordspurs said:
The pay cuts
If the players take a 20% cut and that’s used for the non playing staff salary it leaves about half
Assume the earner is on £30k a year that’s £1.4m a month ish for 550 people
Or £17m a year
Take that off our wages it leaves around £160m which is roughly £13m a month
So 20% odd that is £2.6m
What happens with the £1.2m over
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We buy a striker?:)
 
Hootnow said:
I know many people on here won't accept criticism of the board and won't care what anyone else thinks.

But we are getting roundly panned for the decision multi billionaire Lewis and multi millionaire Levy have made, as well as the rather stellar company we're in with the decision we've made.

The optics are pretty fudging brick regardless of whatever else you may think.
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It's a fair point but I don't care too much about the optics to be honest and that shouldn't be the driver of decision making. Most brave decisions, different from what others are doing, will meet with the same sort of criticism. Levy has made what he believes is the best decision for Tottenham Hotspur Football Club. Time will judge whether he was right or wrong - now is too soon to make that judgement.

It's players who should be taking more criticism in my view. If the players don't take a pay cut, I'm done with pro football because it'll prove the argument that they are detached from reality (it's an argument I've never subscribed to). I think Levy's move was partly designed to put pressure on players and coaches.
 
A request for high earners to take a paycut should not be restricted to footballers. Is there a threshold of what high earnings are that could be applied to wider society?

Do people want them (footballers) to take a 20% paycut to help their clubs out (45% of which would have gone to government)

or should they donate an extra 10% of that money to either the government or a specific fund to support those the most in need nationally?
 
MKSpur said:
A request for high earners to take a paycut should not be restricted to footballers. Is there a threshold of what high earnings are that could be applied to wider society?

Do people want them (footballers) to take a 20% paycut to help their clubs out (45% of which would have gone to government)

or should they donate an extra 10% of that money to either the government or a specific fund to support those the most in need nationally
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I don’t think it’s down to the players to bail anyone out. Like you say they pay huge tax which is contributing already large levels of cash to Government lead initiatives.
 
MKSpur said:
A request for high earners to take a paycut should not be restricted to footballers. Is there a threshold of what high earnings are that could be applied to wider society?

Do people want them (footballers) to take a 20% paycut to help their clubs out (45% of which would have gone to government)

or should they donate an extra 10% of that money to either the government or a specific fund to support those the most in need nationally?
Click to expand...

yep, not all PL players are earning big wages, there will be youngsters and 3rd choice keepers on lower basics, probably some player/coaches getting paid as the latter
 
MKSpur said:
A request for high earners to take a paycut should not be restricted to footballers. Is there a threshold of what high earnings are that could be applied to wider society?

Do people want them (footballers) to take a 20% paycut to help their clubs out (45% of which would have gone to government)

or should they donate an extra 10% of that money to either the government or a specific fund to support those the most in need nationally?
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As others have said, I don't think it is an issue for government.
If a club is going to struggle to keep operations running because cashflow is impacted, and if non-playing staff are having to make salary sacrifices because of that, then I don't think it is unreasonable to expect that playing staff are also making those sacrifices.
Anything that a player, a director, an office worker, a cleaner or anyone else wants to do above and beyond that is their personal choice.
 
Benny_Lad said:
If I was a high earning player now I would be working out the best way to get some of my income to the people that need it the most. That might not simply be by taking a pay cut as that would initially be money saved by the club and less tax paid to the govt.

Also - players can’t win in some cases. Do something good and announce it, and people have a pop that you’ve shouted about it. Do something good and don’t publicise it, and you’re seen as doing nothing.
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This is such a key point. I find the "everyone look at me I'm giving something to the needy" thing pretty abhorrent, but I guess it's better than doing nothing at all as long as funds are going to the right place. Not to take it too far off topic but I recall seeing a vid of a guy who woke up this homeless dude to give him some pizza and money bouncing around in his wallet. He was filming it his mobile and once the guy sleeping rough realised he flipped out, and rightfully so imo. If you've read this far you're probably hoping I can work this in to some kind of footballing analogy but alas I cannot so, anywho...Actually, David Beckham is the guy filming. I hate that prick, don't think he'd help an old lady across the road unless media reps are there (Okay he probably is a nice guy but everything just seems so marketed with him.

Back to Levy..Whether for right or wrong, for whatever reasons the club has made the decision, it just doesn't look or feel great to me. Understandably more than ever there is a bit more bickering / back and forth on here and looking at the usual suspects it appears that it hinges on political leanings or having more a business mindset. Added to this is how a lot of us have felt a strong disconnect with the players for some time due to a long difficult spell results & performances wise I can see the animosity growing. I've had a lot of conversations defending wages of football players, and one point has been the simple fact that it's the whole system we buy in to, or at least are born in to. Nobody pays a monthly subscription to tune in to a nurse caring for a patient or buys a shirt with the nurses name on the back and cheers them in the ICU whilst paying for the pleasure. This "argument" is probably more pertinent but less appropriate than ever and footballers are going to get a lot of flak through these times, especially ones who hadn't joined or considered the 1% donation that Juan Mata had been involved in.

One minor point in our players favour is that the contracts are heavily weighted towards performance related bonuses right? Rose mentioned as much and JJ confirmed it IIRC. Who knows how the contracts are set up but do they stand to lose out if the games are cancelled?

Bedfordspurs said:
that’s why the united players are donating some of their earning to the local NHS
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Yeah, I begrudgingly check daily mail football site from time to time as it's got an okay round up, on it's bad days it is a Man Utd PR machine and no surprises the headline is about them helping the local NHS, combined with articles about how brilliant Ole is to have not got them anywhere near competing and how Bruno Fernandes is now the absolute messiah as it appears that Phil Jones might not be...
 
Mikey10 said:
Jenas on 5Live this evening suggesting that we are in a pretty serious place re.finances.
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How would he know?

Sounds like usual punditry when if you say enough things one of them will end up being true.

I imagine we are similar to most football clubs. The stadium was not built with the expectation of champs league football.
 
Danishfurniturelover said:
How would he know?

Sounds like usual punditry when if you say enough things one of them will end up being true.

I imagine we are similar to most football clubs. The stadium was not built with the expectation of champs league football.
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I would imagine he’d know quite a lot, given his position in the football media and his strong links to the club.

He said that our model was built on the stadium providing a constant stream of income through multi-purpose use - and that has obviously dried up for the foreseeable. So we are asset rich but cash poor and therefore particularly vulnerable in the current situation.

It’s nothing we didn’t know, I suppose, but he did sound like he knew more detail than he was prepared to give and he did sound concerned. He’s one in the media who obviously loves the club, to be fair to him.
 
MKSpur said:
A request for high earners to take a paycut should not be restricted to footballers. Is there a threshold of what high earnings are that could be applied to wider society?

Do people want them (footballers) to take a 20% paycut to help their clubs out (45% of which would have gone to government)

or should they donate an extra 10% of that money to either the government or a specific fund to support those the most in need nationally?
Click to expand...
Comrade Corbyn and his merry bunch of thieves seem to think that people earning over £80K are rich. Everyone will draw the line in a different place, so best not draw it at all.
 
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