Daniel Levy - Chairman

[spasm]

Levy out. Now what?

 

[Baleforce]

We should ABSOLUTELY pay more wages for better players. We have the lowest wage to turnover ratio in the whole PL. Better players tend to earn higher wages, hence why just about every trophy in ever league in Europe goes the highest wage payers. Very, very few clubs operate a rate as low as the 40-45% that we operate at. Instead of paying for a brilliant player in Mane we got Clinton Njie (or was it Nkoudou?) had to pay them and lose a bunch of transfer fee on them and also had to sign Bergwijn on big money years later.... Probably would've actually been cheaper to have bought Mane (who was already proven in the PL).

very few clubs operate on our model though, we don't seem to be making a load of profits year on year so our wage to turnover ratio is probably right around where we need it to be

 

[Finney Is Back]

most clubs have players on "top earner" clauses, there will be an effect, even if it's not instant it moves the bar for forthcoming contract negotiations, it might not have meant Davies would have been after a raise, but Kane, Eriksen and probably a few others would have been

'Most' clubs do not at all. I would be surprised if there are more than a handful of clubs with that clause in place in the whole World. Perhaps a player like Ronaldo will have that inserted into his contract. Not many others.

If Mane had come in on £90k a week then Kane would've used that as a reference point for his next contract (which ended up being for £200k a week anyway).

 

[Finney Is Back]

But we have upped the wages we pay as out turnover has increased havent we?
We have several players earning £200k plus now
That’s double the max wage we were paying 3 years ago (according to rumours)
That’s business. You spend what you can afford
This year our wages will be horrendous vs our turnover.

I'm not sure that any club should plan their wage to income level on a pandemic? (though perhaps more sporting institutions other than the Lawn Tennis Club should've insured against one?)

Pre pandemic we still had the lowest ratio in the league. We're very unlikely to win trophies with the lowest ratio in the league.

 

[Finney Is Back]

very few clubs operate on our model though, we don't seem to be making a load of profits year on year so our wage to turnover ratio is probably right around where we need it to be

Actually the football club was making very large profits every year and giving away far too much of our income to the government in tax. It's why we have such a massive leeway on FFP (prior to them relaxing it anyway for covid). A higher wage bill and more transfers would've reduced those massive profits (and tax paid).

 

[SpurMeUp]

That’s the issue
None of these players are or were better than Kane do why would we want to pay them more than him at the time
It’s why pools wage bill now is £350m and ours isn’t
That’s their choice and good luck to them. If they can afford it then why not

One of the reasons pool were driving the Super League is because without CL they are under pressure. Although covid hit just as the stadium started to payout, thankfully we have not spent all of the expected increase in revenue on wages ahead of ourselves. Levy is prudent, is careful, and so going forward we may well overtake pool again. Acumin is deeply underappreciated in this thread. It's all about wanting more: buy me a new player. As though other clubs have no missing links or a perpetual need for a new player in X position. I am amazed that adults have such a teenage mentality. We just needed a ____ they cry. Diddums!

@Finney Is Back you weren't able to back up the Rose claim. By the way, why don't you have a bigger house, a Ferrari (I'd love it if you did : ) and ffs where is your swimming pool man??? If you just added these things life would be perfect would it not!?

 

[Jurgen the German]

The buzzwords on GG now seem to be “crying” and “cry” whether it’s about critiquing Levy or the lack of trophies. As if no other opinion other than levy is da best.

 

[Bedfordspurs]

I'm not sure that any club should plan their wage to income level on a pandemic? (though perhaps more sporting institutions other than the Lawn Tennis Club should've insured against one?)

Pre pandemic we still had the lowest ratio in the league. We're very unlikely to win trophies with the lowest ratio in the league.

So did we lose the finals because our wages were too low?
Or was it because the players in those finals brick the bed?
As I said... we have increased our wages as our turnover has increased. You mention above Kane’s on £200k now. That’s a massive increase in his previous salary
Clubs are bricking it now because of their wage commitments. United are selling De Gea because of his wages. Chelsea couldn’t shift Kepa because of his wages
I prefer the club to manage its money well and not have issues further down the line.
Spend as we grow abs thy way we have a chance of being solvent and sustainable whilst trying to be competitive in a rigged race

 

[Baleforce]

Actually the football club was making very large profits every year and giving away far too much of our income to the government in tax. It's why we have such a massive leeway on FFP (prior to them relaxing it anyway for covid). A higher wage bill and more transfers would've reduced those massive profits (and tax paid).

right, you've convinced me, Levy is clearly an idiot who has no place running a business

get in there Finney, I'm backing you as the new chairman, I didn't realise how simple the whole thing is

 

[Finney Is Back]

right, you've convinced me, Levy is clearly an idiot who has no place running a business

get in there Finney, I'm backing you as the new chairman, I didn't realise how simple the whole thing is

Sorry, you claimed (exact words) "we don't seem to be making a load of profits year on year". Which is untrue, we were actually making very large profits. In the 4 years to 2019 THFC made a total of almost £400 million of profit before interest and taxation. We paid the government a total of £66m of tax over those 4 years. As I think you were trying to allude to yourself the perfectly run football club would actually make a profit of exactly zero each year.

 

[Bedfordspurs]

Sorry, you claimed (exact words) "we don't seem to be making a load of profits year on year". Which is untrue, we were actually making very large profits. In the 4 years to 2019 THFC made a total of almost £400 million of profit before interest and taxation. We paid the government a total of £66m of tax over those 4 years. As I think you were trying to allude to yourself the perfectly run football club would actually make a profit of exactly zero each year.

That profit was spent on the ground as we have very little cash
That profit also meant we could borrow money to finance the ground at better rates
Now that we have the ground we haven’t made a profit as we have invested more in players
It’s exactly as was expected by most people
And the wages in that period have gone up too
So we are investing in our playing side
It’s just that we need to invest even more

 

[Baleforce]

Sorry, you claimed (exact words) "we don't seem to be making a load of profits year on year". Which is untrue, we were actually making very large profits. In the 4 years to 2019 THFC made a total of almost £400 million of profit before interest and taxation. We paid the government a total of £66m of tax over those 4 years. As I think you were trying to allude to yourself the perfectly run football club would actually make a profit of exactly zero each year.

so that’s just cash lying around, or it’s used for the stadium/debt?

or has Levy nicked it?

 

[Finney Is Back]

One of the reasons pool were driving the Super League is because without CL they are under pressure. Although covid hit just as the stadium started to payout, thankfully we have not spent all of the expected increase in revenue on wages ahead of ourselves. Levy is prudent, is careful, and so going forward we may well overtake pool again. Acumin is deeply underappreciated in this thread. It's all about wanting more: buy me a new player. As though other clubs have no missing links or a perpetual need for a new player in X position. I am amazed that adults have such a teenage meteorology. We just needed a ____ they cry. Diddums!

@Finney Is Back you weren't able to back up the Rose claim. By the way, why don't you have a bigger house, a Ferrari (I'd love it if you did : ) and ffs where is your swimming pool man??? If you just added these things life would be perfect would it not!?

No Ferrari.... No. I've actually never really massively been into cars. For me it was a means of getting from A to B. My favourite car I ever had was my first one, a VW beetle. I fcuking loved that little bug... I have a Tesla now really just because it was advantageous in terms of tax from a company car perspective due to the emissions, additionally not having to pay for petrol appeals to my inner Levy! ;o)

Swimming pools are an absolute pain in the jacksie.... The previous house that I owned had one (I bought it with one, didn't have it installed) and every time there is a hint of nice weather all sorts of family and friends suddenly decide that they haven't seen you for a while and 'oh I brought my swimming costume'... I would've had it filled in if I hadn't moved instead!

Danny Rose was at Watford's training ground waiting to complete his move on transfer deadline day in 2020, I thought that was common knowledge?

 

[Bedfordspurs]

so that’s just cash lying around, or it’s used for the stadium/debt?

or has Levy nicked it?

Gone on joes new boat

 

[Baleforce]

I misspoke, used an accounting term whilst not being an accountant, I shouldn’t have said “profit”, I should have said, “unaccounted for cash”.

We don’t have any of that do we?

 

[Bedfordspurs]

I misspoke, used an accounting term whilst not being an accountant, I shouldn’t have said “profit”, I should have said, “unaccounted for cash”.

We don’t have any of that do we?

Not from what I’ve seen
It’s sunk in bricks and mortar
And joe Lewis yacht

 

[Finney Is Back]

so that’s just cash lying around, or it’s used for the stadium/debt?

or has Levy nicked it?

Of course he hasn't nicked it. Are you 12 years old or something?

Of that £400 million (and another £120 million of profits from the 3 years before that)....
£84m has gone on tax,
£63m has gone on interest payments
and the remainder went into the stadium that apparently had 'a completely separate budget and wasn't going to affect our first team budget' (Levy's words).

 

[Baleforce]

Of course he hasn't nicked it. Are you 12 years old or something?

Of that £400 million (and another £120 million of profits from the 3 years before that)....
£84m has gone on tax,
£63m has gone on interest payments
and the remainder went into the stadium that apparently had 'a completely separate budget and wasn't going to affect our first team budget' (Levy's words).

So how can we afford to increase the turnover to wages ratio when all the money we make is earmarked for existing projects and our revenue has been hit due to COVID.

My understanding of the inner workings of a football club are effectively those of a 12 year old, I have no real world experience of it.

 

[SpurMeUp]

No Ferrari.... No. I've actually never really massively been into cars. For me it was a means of getting from A to B. My favourite car I ever had was my first one, a VW beetle. I fcuking loved that little bug... I have a Tesla now really just because it was advantageous in terms of tax from a company car perspective due to the emissions, additionally not having to pay for petrol appeals to my inner Levy! ;o)

Swimming pools are an absolute pain in the jacksie.... The previous house that I owned had one (I bought it with one, didn't have it installed) and every time there is a hint of nice weather all sorts of family and friends suddenly decide that they haven't seen you for a while and 'oh I brought my swimming costume'... I would've had it filled in if I hadn't moved instead!

Danny Rose was at Watford's training ground waiting to complete his move on transfer deadline day in 2020, I thought that was common knowledge?

Before I could drive my best mate drove us around in a Beetle. It or he almost killed us multiple times, woeful going around corners But you must get one again! You can electrify one...

https://www.watfordobserver.co.uk/sport/18807584.watford-not-try-sign-danny-rose/

Still room for improvement, if you'd just reach into your pocket and spend a little more...

 

[Finney Is Back]

So how can we afford to increase the turnover to wages ratio when all the money we make is earmarked for existing projects and our revenue has been hit due to COVID.

My understanding of the inner workings of a football club are effectively those of a 12 year old, I have no real world experience of it.

The money shouldn't have needed to be earmarked for the stadium project at all. The new stadium should be able to sink or swim all by itself. If it can't swim funded as it's own entity then it probably isn't worth embarking upon. I think Levy's original plan may have actually been exactly as he stated (that its funding would be from an entirely separate stream). It just went horribly over budget. I expect that sort of thing in the public sector but usually in the private sector senior execs have to walk when that sort of thing happens.