Tottenham chairman has called for Premier League players and staff to take wage cuts to help clubs cope with the suspension during the coronavirus pandemic.
Levy revealed he is among 550 non-playing staff at Tottenham who have taken pay cuts as he pointed to the likes of Barcelona, Juventus and Bayern Munich as their players and officials had taken wage cuts in order to make sure every individual at the club was paid and costs did not spiral out of control during the suspension of leagues.
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Levy confirmed that the “club’s operations have effectively ceased” and “has an annual cost base running into hundreds of millions of pounds” before adding that clubs and players should do their part as clubs, leagues and players’ unions meet on Wednesday in England to work out a way forward.
“We hope the current discussions between the Premier League, PFA and LMA will result in players and coaches doing their bit for the football eco system,” Levy said.
Levy in particular will be scrutinized as he was the highest-paid Premier League executive, paid $3.7 million in 2018 and $8.7 million in 2019 after a hefty bonus for Tottenham completing their move to a new stadium.
Tottenham’s chairman also explained exactly what Spurs are doing to help them deal with the new financial reality all soccer clubs are facing, as the UK government is paying 80 percent of wages of staff who have been furloughed (basically told they still have a job but aren’t needed right now) by their employers.
“We have seen some of the biggest clubs in the world such as Barcelona, Bayern Munich and Juventus take steps to reduce their costs. Yesterday, 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 per cent utilising, where appropriate, the Government’s furlough scheme. We shall continue to review this position,” Levy added.
Soccer will of course have to adjust to its new reality and the longer the suspension goes on, tougher decisions will have to be made about players and staff taking significant pay cuts to help keep costs down with no matchday revenue coming in. Tottenham’s stadium is being used to help prepare food for vulnerable people in the local and it has been offered to the NHS to be used any way it can help.
Plenty of clubs across the Premier League have vowed to pay temporary staff used on matchdays but many are making use of government help with wages and many are doing plenty for their local communities too. These are unprecedented times and players and clubs are stepping up to make sure the most vulnerable are looked after.