ENIC...

Ginmela

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Joined
Nov 11, 2017
Messages
25
wouldn't it be a nice gesture for Me Levy to put forward his 3m bonus received to make up for the loss of wages? Maybe the players could agree to take a 20% cut instead so the non playing staff won't be the ones suffering. It's not like they'll miss it. they could also put it forwards as a charity donation so they won't get taxed.. I think doing this to the non playing staff isn't really a tactful way of saving money. It'll cost the club loyalty in the long run and fans will refuse to support the team whilst ENIC are in charge. Maybe not the die hard fans, but others who contribute to buying shirts etc. it'll have an impact and we'll be known as one of the shithouses in the league who don't seem to care about the "little people" who keep the club going.
Just my two cents on the matter. Not looking to argue over this.
 

LeSoupeKitchen

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Aug 18, 2011
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2,206
Everyone is losing their heads a little on this. I also think its crazy that Spurs are being bashed so heavily for this. BT are trying to cut 13000 jobs due to this virus, virgin atlantic 8500 jobs at risk and wanting a government bailout. It makes business sense to do what we are doing. Also in the initial article i read by martin samuel he stated Levy had deferred the payment of the bonus so the figure of 7m is incorrect based on that. The government should never have done this scheme without putting a few barriers in place to be able to claim it. However the abuse should actially be directed at those who deserve it. The players, PFA, FA, Premier league and the broadcasters.

For all those outraged by it. How many of you have frozen your sky sports subscription even though you can afford to pay it still. On what grounds have you done that. Is it because it makes financial sense. What about the people at sky who will lose their jobs because the millions of paused subscriptions. That £18 really going to help you keep your house/flat. Surely with staying in you can afford it although it serves no purpose. If Levy had come out and said oh we are making 300 people redundant due to no work etc everyone would be kicking off saying he should use the furlough scheme and hes not looking after his employees. Im marrying someone who was put on furlough as of the 1st and she was relieved as at lwast it secures her job for a little bit longer where as before it was looking like she could lose it. Levy has protected the staff who are not currently working its what all good bosses should do. He also called out the powers of the game to do something.

I didnt see newcastle getting this much hate. Why we getting it. The club stands to lose out on 150m+ from loss of revenue sponsorship prize money from CL and Prem as if the TV deals are fulfilled the prizemoney will be much reduced. Spurs make over 4m a home game thats all gone kit sponsors will be wantibg money back. So saving 2-3m when possible is smart. We might not see football until Xmas why should the club not take precautions.
I was going to right a long answer to various posters but I think responding to this makes most sense now.

I think everyone is on the same page about it making business sense for Levy to do this. You don't have to be an accountant to understand that getting the Government to pay your wages is good for business.

Where we all differ is where we draw the line on where a good business decision becomes immoral. For example, we all agree that auctioning flour or hand sanitizer on ebay for £100s is very good business. However, I'm sure we all agree it's a disgusting thing to do. So we all have a line where we can no longer justify doing something based purely on it being good business sense.

What's really hit home about your post is the analogy of freezing sky sports. I deliberately haven't for all the reasons you've stated. So I guess at least I'm being consistent with my opinion.
 

Nebby

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Joined
Dec 27, 2013
Messages
1,711
Cash flow is a fast killer of business. Levy's job is to make decisions that ensure THFC survives. Some of those decisions will be unpleasant, but they have to be made.
 

thekneaf

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Joined
Jan 18, 2011
Messages
1,083
Cash flow is a fast killer of business. Levy's job is to make decisions that ensure THFC survives. Some of those decisions will be unpleasant, but they have to be made.
There's also no guarantee that should ENIC want to bank roll wages at a time where we're losing money hand over fist, that that would be ok with FFP.

*please don't shoot me, I really don't want a debate about whether or not ENIC would ever countenance doing that. I'm more interested in the conversation of how it would work with FFP as it stands.
 

Chirpystheman

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Joined
Jan 22, 2019
Messages
114
I was going to right a long answer to various posters but I think responding to this makes most sense now.

I think everyone is on the same page about it making business sense for Levy to do this. You don't have to be an accountant to understand that getting the Government to pay your wages is good for business.

Where we all differ is where we draw the line on where a good business decision becomes immoral. For example, we all agree that auctioning flour or hand sanitizer on ebay for £100s is very good business. However, I'm sure we all agree it's a disgusting thing to do. So we all have a line where we can no longer justify doing something based purely on it being good business sense.

What's really hit home about your post is the analogy of freezing sky sports. I deliberately haven't for all the reasons you've stated. So I guess at least I'm being consistent with my opinion.
I agree it has become a PR nightmare and maybe shouldnt have been done for that reason alone but to get stick for it and be used as an example of a company abusing the system when other firms worth a lot more than spurs are also doing it on a much bigger scale are getting a free pass is the bit i struggle with. The PFA are the real villians in all this. Their silence and alleged advice to the players not to negotiate with the clubs is a disgrace.
 

ginola99

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Joined
Sep 4, 2005
Messages
562
Not been a big fan of Levy recently but agree with his stance on this. I too find it staggering that sports journalists are talking about transfer rumours like NOTHING is going on, for crying loud, even the biggest clubs in the World like Barcelona have asked players to take a interim pay cut of 70%!

Levy has gone through quite a few crises during his time as chairman but I tell you this now, all of them combined are a walk in the park in comparison to this.

We have to pay off a stadium and I don't think something like this was really factored in (considered maybe but not 100%) when creating those bonds which sees the stadium paid off over 30 years.

Looking at it from the outside I fear we are in a very different position to everyone else in the prem and this could destroy us. Without fear mongering we could be a Leeds, relegation or at least back to the Sugar years.

Eiher way, hold tight, because this could end up being a very bumpy ride.
 

spursfan77

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Joined
Aug 13, 2005
Messages
25,319
Which is also being overblown. The people who are doing the most handwringing about this are our own fans who already dont like Levy and opposition fans who just like another bandwagon to jump on for the moment. There is a bit of fuss but its so intertwined with the current global situation and other clubs and businesses doing the same it all gets lumped into one, we are/will be a footnote at worst. Aviation is the big focus with Branson and the like getting the most heat. The announcement to be honest got in early so whoever takes it next will deflect or share the story further.

Football is already seen as money grabbing, morally bankrupt and pointless in the wider public, that's been the case for years so it hasn't really changed anything.
It makes me laugh people going on “oh morales in football blah blah blah”. It’s not a new thing that the industry has no scruples. We should know that better than most. After all the day I lost complete faith in the game to uphold dignity was when Judas went to arsenal. Lots have short memories but everyone must remember that and the betrayal that day.
 

vegassd

The ghost of Johnny Cash
Joined
Aug 5, 2006
Messages
2,951
There's also no guarantee that should ENIC want to bank roll wages at a time where we're losing money hand over fist, that that would be ok with FFP.

*please don't shoot me, I really don't want a debate about whether or not ENIC would ever countenance doing that. I'm more interested in the conversation of how it would work with FFP as it stands.
I reckon FFP is going to have to be relaxed or re-jigged somehow once things settle down. The focus tends to be on the CL teams but there will be clubs across Europe at different levels who will only survive if they have a benefactor. If the idea of FFP is to live within your means but everybody's means get slashed then those rules simply won't work any more.

To be honest I think the whole idea of money is going to become even more skewed than it already is - depending on the length of lockdown measures worldwide. The western world has become so dependent on the capitalist model that when everything gets shut down for a period there be all sorts of adjustments.

The idealist in me likes to think that this might burst the money bubble that football has been operating in and things like player wages and transfer fees return to a more sensible level. But that's probably more hopeful than anything.
 

vegassd

The ghost of Johnny Cash
Joined
Aug 5, 2006
Messages
2,951
I was going to right a long answer to various posters but I think responding to this makes most sense now.

I think everyone is on the same page about it making business sense for Levy to do this. You don't have to be an accountant to understand that getting the Government to pay your wages is good for business.

Where we all differ is where we draw the line on where a good business decision becomes immoral. For example, we all agree that auctioning flour or hand sanitizer on ebay for £100s is very good business. However, I'm sure we all agree it's a disgusting thing to do. So we all have a line where we can no longer justify doing something based purely on it being good business sense.

What's really hit home about your post is the analogy of freezing sky sports. I deliberately haven't for all the reasons you've stated. So I guess at least I'm being consistent with my opinion.
It's great that you are in a position to be able to afford Sky Sports etc. during this time, but that isn't the position that everybody is in.

I'm self-employed myself and have savings, so whilst I could ride out the next few months just fine I have no idea where my income will come from after that so I have applied for the mortgage holiday and will likely apply for the government SA grant as well. Does that mean that I'm being immoral because I'm claiming money that I don't need right now? Or does it mean I'm protecting myself and my family as best I can for an uncertain future? I don't think things are quite so black and white.

We need to remember that the furlough decision does not mean that the taxpayer is propping up Levy or Mourinho or the players. They are supporting the "everyday" workers just like they are doing across all industries right now.

Sure, the club might have a sack load of money right now but that can quickly change. I believe the player wage bill is something like £7m per month. I believe our TV revenue is roughly £25m per month and matchday of about £8m per month - both of which have been lost. We obviously don't know how this is all going to play out, but when you add those numbers up the club is potentially looking at a monthly shortfall of £40m, and that's before factoring in any other costs.

So this is why I think the notion of this being "immoral" is wrong. I don't think Levy brings much passion or empathy to the table in general but I've actually been impressed with his recent statements. He's walking the financial walk (as always) but actually talking quite a sympathetic talk which is surprising.

What needs to happen - and what I think will happen - is that the players come to some agreement that helps the club to help staff across the board. Their contribution will be most impactful if all professional players act in a unified way. It's understandable why their decision is taking so long because there is confusion about if the league will resume etc. and players are going to be in different financial positions. So I think if we are going to talk morals it should be aimed more at the decision makers who are bottle-necking the whole system at the moment.

Like I said - this whole thing really is not a black and white situation. It is very interesting though.
 

coys200

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Joined
May 22, 2017
Messages
8,357
If you say the average wage of those 550 is £50k ( I’ve plucked this from thin air lol) the saving could be £2.5m Over 3 months. Which in regard to Lewis wealth is obviously peanuts. But in regard to running a business it isn’t. Add in the absolute shed load of other loses we will suffer. Just pre season tour is probably £10m.
 

pelayo59

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Joined
Jun 28, 2019
Messages
1,023
I reckon FFP is going to have to be relaxed or re-jigged somehow once things settle down. The focus tends to be on the CL teams but there will be clubs across Europe at different levels who will only survive if they have a benefactor. If the idea of FFP is to live within your means but everybody's means get slashed then those rules simply won't work any more.

To be honest I think the whole idea of money is going to become even more skewed than it already is - depending on the length of lockdown measures worldwide. The western world has become so dependent on the capitalist model that when everything gets shut down for a period there be all sorts of adjustments.

The idealist in me likes to think that this might burst the money bubble that football has been operating in and things like player wages and transfer fees return to a more sensible level. But that's probably more hopeful than anything.
Agreed yesterday
The Executive Committee reiterated its full commitment to club licensing and Financial Fair Play and agreed that the current exceptional circumstances necessitate some specific interventions to facilitate the work of member associations and clubs.

It supports the proposal to give member associations more time to complete the club licensing process, until the admission process for next season's UEFA club competitions has been redefined.

As a result of the increasing uncertainty generated by the ongoing extraordinary events, the Executive Committee also decided to suspend the club licensing provisions that relate to the preparation and assessment of clubs' future financial information. This decision applies exclusively for participation in the 2020/21 UEFA club competitions.
 

tdk101

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Joined
Sep 25, 2014
Messages
723
I just cannot believe the stupidity of what Levy did with the staff pay cut. Last week NBA team Philadelphia 76ers owner Harris did the exact same thing by cutting non playing staff pay also by 20%. He was crucified by fans and media to no end that the next day Harris had to take back what he did. Ever since then, no NBA teams would broach the subject.

Don't the PL owners read the news? I tought no one from the PL would be stupid enough to try it after what happened in US last week. Why did Levy have to be the first one from PL teams to do this? The damage that he's done to Tottenham brand by this maneuver is greater than any money he will save by furloughing the staff. He absolutely shouldn't have been the first one to do it. he should have let someone else take the fall first, like Ashley of Newcastle. Now it's too late and he'll have to eat his words.
 

Gb160

I could catch a monkey
Joined
Jun 20, 2012
Messages
18,778
I just cannot believe the stupidity of what Levy did with the staff pay cut. Last week NBA team Philadelphia 76ers owner Harris did the exact same thing by cutting non playing staff pay also by 20%. He was crucified by fans and media to no end that the next day Harris had to take back what he did. Ever since then, no NBA teams would broach the subject.

Don't the PL owners read the news? I tought no one from the PL would be stupid enough to try it after what happened in US last week. Why did Levy have to be the first one from PL teams to do this? The damage that he's done to Tottenham brand by this maneuver is greater than any money he will save by furloughing the staff. He absolutely shouldn't have been the first one to do it. he should have let someone else take the fall first, like Ashley of Newcastle. Now it's too late and he'll have to eat his words.
 

tdk101

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Joined
Sep 25, 2014
Messages
723
But the spurs was the first to announce it, no? Anyway the point is that some other clubs should have taken the blame. Spurs should have jumped in only when it is safe to do so
 

Shadydan

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Joined
Jul 7, 2012
Messages
29,220
How dare he make us look like an embarrassment, now everyone is taking the piss out of us on social media and I have nothing to respond to it...I'll never forgive him for this until we win a few matches where somehow it will be completely forgotten about. :shifty:
 

kannanmothalali

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Joined
Jan 26, 2019
Messages
162
I just cannot believe the stupidity of what Levy did with the staff pay cut. Last week NBA team Philadelphia 76ers owner Harris did the exact same thing by cutting non playing staff pay also by 20%. He was crucified by fans and media to no end that the next day Harris had to take back what he did. Ever since then, no NBA teams would broach the subject.

Don't the PL owners read the news? I tought no one from the PL would be stupid enough to try it after what happened in US last week. Why did Levy have to be the first one from PL teams to do this? The damage that he's done to Tottenham brand by this maneuver is greater than any money he will save by furloughing the staff. He absolutely shouldn't have been the first one to do it. he should have let someone else take the fall first, like Ashley of Newcastle. Now it's too late and he'll have to eat his words.
Levy does not care. Lol.
 

beats1

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Feb 22, 2010
Messages
27,148
Has anyone mentioned that our basement is being used as a food bank and stadium has been offered to the NHS to be used?
 
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