Tottenham
chairperson Daniel Levy announced 550 non-playing staff at the club will
see their wages cut by 20 percent for the next two months on the same
day it was revealed he was paid £7 million (R155 million) last season.

Spurs accounts to 30 June, 2019 revealed Levy was paid a £3 million
bonus, which was due on completion of Tottenham’s new 62 000 stadium, on
top of his £4 million salary.

The new Tottenham Hotspur stadium opened in April last year, eight
months later than scheduled and well over budget at a cost of £1
billion.

Levy is among the staff members taking a 20 percent wage cut, but
called on Tottenham’s players to also do so to ease the financial crisis
caused by the coronavirus pandemic.

Players at Barcelona, Juventus and Bayern Munich are among those to
have taken either a significant wage cut or deferred payments.

Football in England is suspended until at least April 30 and a
meeting of Premier League clubs on Friday is expected to push that date
further back.

“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
percent,” Levy said in a statement on the Spurs website. 

“We hope the current discussions between the Premier League, PFA
(Professional Footballers’ Association) and LMA (League Managers
Association) will result in players and coaches doing their bit for the
football eco system.”

Tottenham earlier this month posted profits of £68.6 million for the
year to June 2019 on the back of a run to the Champions League final and
the stadium move.

However, Levy said those numbers bore little relevance, with the club
facing a difficult period and uncertainty among sponsors and media
partners.

“When I read or hear stories about player transfers this summer like
nothing has happened, people need to wake up to the enormity of what is
happening around us,” he added.

“We maybe the eighth-largest club in the world by revenue according
to the Deloitte survey but all that historical data is totally
irrelevant as this virus has no boundaries.”

Tottenham sit eighth in the Premier League table and would therefore
miss out on the riches of Champions League football for the first time
in five years next season if the league were to be curtailed as it
stands.

However, economic factors are behind the desire of Premier League
clubs to finish the campaign, even if it means doing so behind closed
doors.

According to reports, the clubs would have to reimburse broadcasters to the tune of £762 million if the season is not completed.





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