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Daniel Levy - Chairman

Finney Is Back said:
Is anybody worried that us doing this indicates that we might be in a tighter spot with the finances than we had previously thought?
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I am a bit, yes. I said yesterday that aside from the clear message to the players and PFA, there was still a very serious undertone to the announcement. Either Levy is ahead of the situation and other PL chairmen will follow suit in due course, or our unique position in respect of our stadium repayment commitments means things are much more precarious for our finances and we can’t afford to wait to see how things play out.
At its most basic it’s hardly rocket science : revenue streams (current and projected*) have halted but wages need to be paid. That’s not a sustainable model for anything but a very short period.

* What would likely be the situation re non-footballing events booked at the stadium that won’t now go ahead? Would we forfeit the rental income (catering income being dead in the water) or would the event organisers have to pay the agreed rental and claim back on their insurance?
 
Glenda's Legs said:
I am a bit, yes. I said yesterday that aside from the clear message to the players and PFA, there was still a very serious undertone to the announcement. Either Levy is ahead of the situation and other PL chairmen will follow suit in due course, or our unique position in respect of our stadium repayment commitments means things are much more precarious for our finances and we can’t afford to wait to see how things play out.
At its most basic it’s hardly rocket science : revenue streams (current and projected*) have halted but wages need to be paid. That’s not a sustainable model for anything but a very short period.

* What would likely be the situation re non-footballing events booked at the stadium that won’t now go ahead? Would we forfeit the rental income (catering income being dead in the water) or would the event organisers have to pay the agreed rental and claim back on their insurance?
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I expect there would be a cancellation clause, fee's increasing the nearer to the event date, if you cancel early enough you are probably just out the deposit.
 
galeforce said:
Might be off a subsidiary or some such?
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Maybe they had a season where they actually made money
But they lose money because of their debt
Arsenal make a small profit normally but that’s gone now
Chelsea .... when they lie
City ... ha ha ha
Pool have twice I think

Clubs shouldnt make mega money buy 5% after tax is decent for any large business
10% is very solid and allows for cash flows issues. We have just made circa 10% post player trading and tax
That’s the benchmark

In some countries you can’t play if your books ain’t right anymore (France and Germany for some)
 
Bedfordspurs said:
Lewis has nothing to do with football
And Enid own more now don’t they?
I remember having a convo with Mike Rollo when he was at the club and he said he had never ever seen Lewis at a game and he has no involvement in anything to do with football as he hates the game
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Lewis watches the games on TV often from his yacht, surrounded by an art gallery of some of the worlds most impressive impressionist art.

@steff Lewis doesn’t need to sell. At 80 whatever would he do with the money?


Sitting on my porcelain throne using glory-glory.co.uk mobile app
 
galeforce said:
does anyone know how the tv money works, is it a single payment or split over the season or 12 months?
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Pass but the scare mongerers seem to think that the TV money will need to be paid back if the season is void... so sky and BT hang actually broadcast games and profited from their subscribers then ;)

The world s full of idiots, macarons and unqualified people

they tend to shout loudest in the hope their heard and most seem to be on twitter as football experts
 
Finney Is Back said:
I’d like to know the actual saving the club will make from this. I’m not sure it’s worth the bad publicity?

550 workers x avg of £30k? a year = £16.5 million. For 2 months = £2.7 million ish.

Which other PL clubs have done this?
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That’s huge. And with Spurs heavily leveraged it is vital Levy reduces costs. The clubs financial position is under threat. No CEO should accept that lying down.

Each month a hearty chunk of cash leaves THFC bank account, paying back debt. Levy has acted quickly to ensure Spurs will survive.


Sitting on my porcelain throne using glory-glory.co.uk mobile app
 
Bedfordspurs said:
What should the club be doing?

The players who take most of the cash out don the club are currently doing zero
And don’t forget people have been complaining that we haven’t spent money and won’t spend money
So when the club does something to mitigate it like many many other companies have
And they also do load some the community which wins awards and that quickly gets forgotten
And they also give the NHS use of the facilities
And of course they pay tax unlike a lot of clubs as they make a profit
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First of all, he should not make statements of that specific in public IMO.
Why did he do it? I cannot fathom the reason, unless it was what, an "obligation" somehow?

No-one is forgetting all that stuff Bedford.
That's another discussion.

I would've hoped he'd have done the following (and perhaps he has, in which case I don't understand the statement).
1) consulted all playing and coaching staff about taking a salary cut
2) pledged half his bonus back into a "common fund" for the "non-essential" playing staff i.e. lead the way
 
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