Levy takes a pay-cut
Tuesday, November 17, 2009 at 2:31PM Anyone read the Annual financial report Spurs released the other week (it's on the official site)? Go on, one of you must have printed it out and sat yourselves on the bog, reading glasses perched on nose and read through countless pages of number-crunching. No? You prefer the more rounded figures of Front magazine like me? Good on you. Thankfully there are people out there who don't bother with glossy soft-porn publications and prefer to study and then dig out the type of information that makes us lazy ones ooh when we hear it.
Our turnover made all the headlines along with confirmation of our spending, but we missed the bit about pay-cuts (at least I did) taken by Levy and the directors. A 32.5% cut. Millionaires with less millions and no big shout out about it. No shareholder dividend pay-out either this year. It's all on page 34 of the report (if your copy of Front is in too much of an abused state to turn the pages).
From £1M per year down to £650,000 in the space of three years.
The club make profit and our man at the helm takes a cut. How refreshing. Taking one for the team. Not that taking home 650K isn't too shabby wage. It would seem there's no room for ego's here. Greater good and all that jazz, ENIC are firmly putting their money where their mouth is - although the less bites taken into rotten apples (Bentley, Bent, Pav) the more of that turn-over we're left with. Hard times, bit future plans - the priority is the club and therefore the fans.
If Levy needs to make up some extra cash for Christmas shopping, I suggest he loads up a white van with the left over copies of The Opus (that's the ones left over from the batch used during the half-time raffle ticket give-aways from last season) and hits the high road on match-days. Get Harry in the back and he'll have the lot cleared out by 3pm kick-off.
"Opus, mint condition, £500. And this one, signed by Robbie Keane, you can have that one for £250"
Reader Comments (15)
I've said it before and no doubt I'll say it again;
I love Levy.
I can't read past the point stating a wage of £650k per year. I've spent most of it already in my head. On a more serious note, not only is that amazing but the fact they don't point it out to the fans / public is almost unheard of. The true meaning of modesty. Fair play Mr Levy et al.
[spooky] Or perhaps Levy left it in there for someone to find and then make public so he looks modest? [/spooky]
S**t - that means he's down to £1780 per day - each and every day of the year! Crap job I suppose. Still he does do some evening and weekend work from time to time, and also has to travel to Europe every now and then.
It's the way the company is run. Football is at the forefront but worked like a business, which is why Levy gets so much stick or at least did in the past. Also why 'Uncle Joe' won't invest from his own pocket.
We'll be in the red this time next financial year end because of the money spent on the new players.
Never red. Another lie.
harry enfeild! harry redknapp........
The machine is right unfortunately. especially as you need to take out uefa revenue from the equation for this season, and we ain't gonna make £60 mil in 'aset sales' unless we sell modric and lennon this season. Which is tantamount to footballing suicide. Don't forget that without berba and keane (amongst others) realising more than their asset value we would have been £30mil in the red this year!
So all in all a pay-cut? I should bloody hope so, until he's offset all the damage he did by appointing comolli in the first place. It was that which has cost us dear in instability and the metaphorical spunking of money in an almost frivolous manner.
Sorry, I know Levy is trying to do the right thing, and the balance between football and commercial viability is nto an easy act to try and do. But the executive messiah he ain't, he's not even a very naughty boy, petulent at times for sure. But one good action doesn't mean those of us with long enough memories should forgert the myrad of shite that was lain before us.
I was there that ill fated night the crowd sang 'stand up for martin jol' in the second half. It was one of the wierdest games I've ever been to for atmosphere, and one I've never forget. And mostly for the wrong reasons.
But what I don't advocate is change, it is stability, and for that reason I will still support him.
levy has learnt from his mistakes it seems...........consider the later deals and sales deal on berbatov crouch ,krancjar etc
essentially he has done a great job in resetting or reversing the ramos period ......shame redknapp wasnt here earlier.....
or jol being given more funds......the shape of thfc is healthy and the new stadium is a sign of the right ambitions
so he has made good.......
what more can he do?..........when the club is in champions league ......keep it there..........
In case you didn't know, David Baddiel has written a film about a Muslim Tottenham fan (Omid Djalili) whose mother dies and he finds out he's actually an orthodox Jew. Looks pretty funny.
its called 'The Infidel'
its all good financially then...but how about the team?hope we dont sign any more expensive bench players...and we need to get good quality young players coming through the ranks...noone as come through the youth set up since ledders..thats an alarming and worrying trend...even more worrying is the young players we are buying are not getting any first team action which means they r not good enough?bostock,taarabt,dos santos,gunter blimey how many more av gone or r going? what about livermore he looked quite handy in the preseason games....gone...so either the club has no idea which young players to get or the club has sacrificed development for the chance to get glory(3 colours) trophy or sir harry hasnt got a clue about developing young players....
The Infidel? I laughed out loud and I've not even seen a preview yet. Thanks for the heads up.
I'm not surprised he took a paycut. Last year after 8 games, he had his continental system in place and his hand picked guys as DoF & manager and we were a disaster. He spunked loads of dosh to get those guys and spunked more getting rid of them. This following a comical 5 seasons where he oversaw a club with 3 different DoF and 6 managers and nevermind the disgraceful handling of Martin Jol's exit (who deserved much more). We're profitable, we've got a great stadium coming, improved training ground and a team on the rise. Big picture, we seem to be getting there but let's be honest, he's made some pretty bad calls along the way and wasted a lot of resources. I think he was in BIG trouble when he had to fire Ramos & Commoli. The fact that they've scrapped the continental system is a major rebuke of his football side management of things.
Interesting Tricky!
I agree that Levy is most probably trying to balance some of the previous damage done, but at least he is trying. Usually some execs just keep digging a whole for themselves but at least this is comes as a refreshing change... for the time being.
COYS!!!
Terry Henry is a cad! Hope he forgets to look before crossing the road...