Chairman acts to cut costs....

[muttley]

So one week of Kanes wages covers a whole years worth of their wages?

A massive percentage of it.

Also, if Kane is on £10m a year and £7.5m of it is base and £2.5m of it is bonus (guess) worth remembering he's been injured since Jan 1st. His lack of bonus has definitely helped :-)

 

[Nick Real Deal]

There are suggestions that the naming rights for the stadium are now under threat. That could be another significant drop in revenue.

 

[Departed]

There are suggestions that the naming rights for the stadium are now under threat. That could be another significant drop in revenue.

They aren't even for sale right now Levy put those on the back burner.

 

[Spursex]

Ex what was the yearly salary of the 550 people who were put on Furlough? I doubt they were earning more than minimum wage.

You know as well as I do between the chairman and players they can cover their wages with ease.

There is no chance in hell that would bankrupt the club.

As this is a different situation to the norm surely Premier league teams can take matters into their own hands?

You keep saying it's a legal obligation yet many ex players are saying they can do it voluntary.

Hundreds of players in the lower leagues have done it. Talksport reported yesterday some Bournemouth players have taken 50% cuts voluntary.

These are murky waters.

Agree with Mutters companies like BT and Sky need a kick up the ass. They have taken the piss for decades.

Sky upped their prices a few weeks ago. Sums them up.

I don't know how many times I can say this; IF as seems likely the season cannot be ended in a normal manner, the media companies will pay nothing.(That's what every agent is now saying after being given a media briefing).

The Club currently has NO income. The cash on the balance sheet, will by my calculation all be exhausted (with the debt repayments) be gone within 3 months.

After that with no income from ticket sales, sponsorship, commercial, catering, the club will be in very serious cashflow problems.

Unless players take voluntary cuts, the money will run out even faster.

Again, I have to repeat yet again, unless Players break ranks with the PFA, they will not agree to anything - which I personally think is pretty disgraceful.

The only people taking cuts at Bournemouth so far - is the manager and the coaches - NONE of the players have yet agreed to anything!!!

Our income if the season is even ended in a normal way will see a drop of between £100 million - if the media Companies don't cough up, it could even be approaching £150 mill.

All premium leagues clubs live on their cashflow - out fixed overheads excluding wages is over £200 mill - so be in no doubt, if your were Levy reviewing this landscape now, you'd be very very worried if not on teh verge of utter panic.

 

[Real Deal]

Ex I get you are under pressure and know a lot more than most. But you don't know everything so take a chill pill mate.

It makes a great discussion.

 

[Real Deal]

If I were a professional footballer I would hire a top lawyer and find any loop hole available.

 

[freundorfoe]

if I were a top footballer and I'd been dining at the financial trough of PL football, I'd be urging colleagues to do what we can to make sure the clubs stay afloat long enough to survive so we could all carry on.

If half the clubs go under there will be a lot of highly talented free agents quite happy to do your job for less.

 

[Spursex]

Ex I get you are under pressure and know a lot more than most. But you don't know everything so take a chill pill mate.

It makes a great discussion.

As you know, I like to debate the known facts, I try very hard to be accurate when so many just seem to make it up as they go along! If I can't be reasonable accurate, then I never make it up!

Anyway, it will all come out in the wash someday - how soon it will be is anyone's guess.

 

[Departed]

Ex I get you are under pressure and know a lot more than most. But you don't know everything so take a chill pill mate.

It makes a great discussion.

But he's right. A huge expense line to cover and NO income. That's shit yourself time.

 

[Spursex]

If the season doesn't end and the payments are made, these loses will be just the tip of the iceberg, not the bottom of it. IF 100 mill losses is for most clubs unless we can defer our interest payments on our debt, ours will unquestionably hit £150 mill, or even much more and there won't be any cash left in the business and we'll have to heavily borrow again.

We, like all over clubs will needs that minimum 30% salary cuts from the players and coaches.


Burnley could lose £50m if Premier League season does not finish, with other clubs facing £100m shortfall

The Clarets will lose £5m in match-day revenue for their remaining home games


By James Ducker, Northern Football Correspondent and Ben Rumsby 4 April 2020 • 11:13am
Premium

Burnley are facing a £50 million cash shortfall if the Premier League season does not resume but claim some of their rivals will be looking at losses of around double that as the club’s chairman Mike Garlick pleaded for unity.
The Lancashire club say they stand to lose around £45m in broadcast income if the season is not finished in addition to a further £5 million from lost gate receipts if their final four home league matches are not concluded or played behind closed doors.
In a statement released on Saturday morning in the wake of Friday’s Premier League shareholders meeting, Burnley said there were rival top flight clubs who stand to be even harder hit by the coronavirus crisis.
“It is believed that other clubs could be looking at up to a £100m shortfall,” Burnley said.
Burnley are currently in tenth position in the league and still in contention for Europa League qualification.
They have taken the decision to keep paying all matchday and non-matchday casual workers during the shutdown but Garlick has warned that there could be severe financial repercussions and called for the game to come together as they look to emerge from the crisis.

• Sam Wallace: A game divided: At heart of football's wage dispute is who should bear cost

“It’s a completely unprecedented situation that we and other Premier League Clubs face and which we could not have foreseen in any way only just a few weeks ago,” Garlick said. “It’s now not just about Burnley or any other individual club anymore, it’s about the whole football ecosystem from the Premier League downwards and all the other businesses and communities that feed from that ecosystem.
“As a club, as fans, as staff members and as a town we are all in this together and I’m sure we can get through this by sticking together and helping each other in every way possible in these tough times.
“We all need to do our bit, however small, together as One Club.”
Burnley released their latest financial accounts this week which showed a £4.3m profit for the year to June 30, 2019.
That was considerably down on the £36.6m profit posted for the previous 12 months but that figure was swollen by the sales of Michael Keane to Everton and Andre Gray to Watford for a combined £48.5m.
Annual turnover for 2018/19 stood at £137.8m, with the wage bill up by £5m to £87m - around 63 per cent of turnover.
Ben Mee, the Burnley captain, had talks with his Liverpool counterpart Jordan Henderson on Friday as the Premier League captains discussed the issue of wage cuts/deferrals and the possibility of charitable donations to the NHS.
Mee is expected to be part of the discussions on Saturday between the Premier League captains, the Premier League and Professional Footballers’ Association to discuss proposals for a 30 per cent to player salaries.

 

[Spursex]

Liverpool doing furloughing of non-playing-staff; if the season ends prematurely warning of losses of between £55-100 million.

Those players and coaches wage bills must be really beginning to grate now. I think more and more PL clubs are thinking the season won't be able to be ended.

PFA saying they would only consider a deferral of wages, not any sacrifice.

 

[Deleted member 7310]

Liverpool doing furloughing of non-playing-staff; if the season ends prematurely warning of losses of between £55-100 million.

Those players and coaches wage bills must be really beginning to grate now. I think more and more PL clubs are thinking the season won't be able to be ended.

PFA saying they would only consider a deferral of wages, not any sacrifice.

Is it legally possible to furlough all player wages? Must be a higher force cause in their contracts?

 

[Spursex]

Is it legally possible to furlough all player wages? Must be a higher force cause in their contracts?

There are other clauses that no club would dare break but the one that they couldn't impose is to reduce or defer wages, if the club imposed that, the player is legally entitled to say the contract has been broken and can legitimately walk on a free....



Anyway, Rooney has weighed in now - he is basically saying why should the players be forced to take wage cuts, the PL clubs are richer than them...or negociate them on a club by club or player by player basis - which I wholeheartedly agree with, but the idiot doesn't seem to grasp that it's the PFA stopping clubs players from doing just that !!!!!!

The PFA's only statement that cutting players salaries ' may harm the NHS '!!

Is a statement that needs justifying - in detail.

Wayne Rooney says players face a no-win situation in wage debate

• 2 hours ago
• From the section Football

Derby striker Rooney questions why footballers are being treated like "scapegoats"
The power struggle over how Premier League footballers can financially assist in the fight against coronavirus is "a disgrace" and has players in a "no-win situation", says Wayne Rooney.
Players have been urged to do more by health secretary Matt Hancock and the Premier League proposed a 30% pay cut.

The Professional Footballers' Association says that may harm the NHS.

Derby striker Rooney says he is happy to offer support but asked: "Why are footballers suddenly the scapegoats?"

In his Sunday Times column, the 34-year-old ex-England captain added: "For the Premier League to just announce the proposal, as it has done, increases the pressure on players and in my opinion it is now a no-win situation: if players come out and say they can't agree or are not willing to cut by 30%, even if the real reasons are that it will financially ruin some, it will be presented as 'Rich Players Refuse Pay Cut'.

"It seemed strange to me because every other decision in this process has been kept behind closed doors, but this had to be announced publicly.
"Why? It feels as if it's to shame the players - to force them into a corner where they have to pick up the bill for lost revenue."

• Furloughing staff: What have clubs done so far?

Gary Lineker expects a decision on how footballers will contribute in the coming days
England manager Gareth Southgate has reportedly taken a 30% pay cut, though the Football Association is yet to confirm the move.

The PFA says proposals for a 30% pay cut would be "detrimental to our NHS" as it would equate to more than £500m in wage reductions, and a loss in tax contributions of more than £200m to the UK government.

Derby player-coach Rooney questioned the timing of the Premier League's proposed wage cuts when top-flight captains were already in discussions as to how they could set up a fund that would go to a charitable cause, most likely the NHS.

Rooney also said the Premier League's own contribution of £20m to the NHS was "a drop in the ocean" compared to what players are being asked to give up.
"How the past few days have played out is a disgrace," added England's all-time leading goalscorer.

"I get that players are well paid and could give up money. But this should be getting done on a case-by-case basis.

"Clubs should be sitting down with each player and explaining what savings it needs to survive. Players would accept that.
"One player might say, 'I can afford a 30%'; another might say, 'I can only afford 5%'.

"Personally, I'd have no problem with some of us paying more. I don't think that would cause any dressing room problems.

"Whatever way you look at it, we're easy targets. What gets lost is that half our wages get taken by the taxman. Money that goes to the government, money that is helping the NHS."

Rooney questioned why "big stars from other sports, who are able to avoid tax by living in places like Monaco" are not being scrutinised over the financial support they are offering in the fight against the coronavirus pandemic.

He also criticised health secretary Hancock focusing on footballers and believes big clubs do not need players to take cuts in order to survive, adding if they did then "football is in a far worse position than any of us imagined".

Premier League leaders Liverpool are facing criticism from former players and fans for joining Newcastle, Tottenham, Bournemouth and Norwich in furloughing non-playing staff.

Rooney said he expects people to "point the finger" at him for airing his views on the pay-cut issue but wanted to "speak up" for players.

"At the moment it's almost a free-for-all: it's like the government, Premier League and sections of the media have set the players up to fall," he added.

Fellow ex-England captain Gary Lineker told BBC One's The Andrew Marr Show that footballers he had spoken to were "desperately keen" to offer help but were an "easy" target for criticism.

"Why not call on all the wealthy to try and help if they possibly can rather than just pick on footballers?" the Match of the Day presenter said.

"Nobody seems to talk about the bankers, the CEOs, huge millionaires. Are they standing up? Are they being asked to stand up? We don't know.

"The problem is how you do it. It's obviously complicated and it takes time. People are always quick to jump on the judgemental high horse, certainly when it comes to footballers but lots of them do lots of really good things and I'm sure they'll continue to do so.

"Footballers do an extraordinary amount of good in the community, lots of them will already be giving in their own silent ways and I know that plans are afoot to make their contributions to society.
"I expect an announcement to come in the next few days, the next week or so."

 

[Deleted member 7310]

There are other clauses that no club would dare break but the one that they couldn't impose is to reduce or defer wages, if the club imposed that, the player is legally entitled to say the contract has been broken and can legitimately walk on a free....

Fuck me, we can definitely do that to Lamela/Wanyama/Rose/Sissoko and even Verts and Vorm who have contracts expiring anyway.

 

[Departed]

I find the player interview where the player called Levy a few names very telling. It illustrates that the players have no comprehension of how football/business works. Granted it is a cut throat business that needs cleaning up, which would be easy from a regulatory standpoint if the will was there.

I am not surprised by the lack of understanding, I am surprised that a journalist would be as obviously naive as a player with such a lack of understanding.

I am not overly confident that Levy knows how to run a consistent contender for trophies but I am confident he puts the well being of the business and club above all. He truly is a steward of the club.

From a supporter standpoint, the man can be as frustrating as anybody could possibly be. I get that. I agree. But the amount of abuse he takes from outside of the club is starting to annoy me more and more.

The real public relations problem is not how much Levy makes. It is how much the players are paid. All other leagues have salary caps or regs that they have to follow. Put that in place, level the playing field, literally and figuratively, and it would move the discussion to some more positive items. However, there is one downside to salary controls, parity. From my perspective, Tottenham is now in a position to financially challenge (with or without Levy) for titles. Salary caps would eliminate that advantage. I much prefer FFP because it allows clubs to invest and grow.

One of my favourite sayings is "The only good monopoly is one I own". Spurs are almost in that position. I don't want to see it thrown away.

FFP enforced is my choice.

 

[USAFSPURS]

One thing is for sure...a positive outcome of this pandemic...and believe me there are some positives....is the out of control financial states of many clubs is about to become PAINFULLY clear....

I welcome it...it needs to be re-balanced and fixed.

And for the players out there whose wages may be cut....NAFF OFF! How about taking a weeks worth of your wages and using it to fund a shit load of layed off employees in all sectors and help them pay their mortgages and rent....Fuckers!

 

[muttley]

It's incredibly difficult for the players. As a collective, they clearly want to contribute but don't appreciate the lack of transparency and the strong arm tactics coming their way. They also see that the same TV companies that won't move an inch and are also manipulating the way the media report this and turning it on the players.

If I were the PFA, I would just communicate to the club chairmen and The Premier League to keep paying as normal and they will build their own central fund. They will appoint their own financial institution (e.g. St James Place) to orchestrate that transparent process and share percentage by player and total by club.

If I were the PFA, I would ask each member to put in 50% of more.

 

[Departed]

It's incredibly difficult for the players. As a collective, they clearly want to contribute but don't appreciate the lack of transparency and the strong arm tactics coming their way. They also see that the same TV companies that won't move an inch and are also manipulating the way the media report this and turning it on the players.

If I were the PFA, I would just communicate to the club chairmen and The Premier League to keep paying as normal and they will build their own central fund. They will appoint their own financial institution (e.g. St James Place) to orchestrate that transparent process and share percentage by player and total by club.

If I were the PFA, I would ask each member to put in 50% of more.

Unfortunately, the money isn't there to pay the players for a lot of the clubs.

 

[SmithAndJones]

Liverpool doing furloughing of non-playing-staff; if the season ends prematurely warning of losses of between £55-100 million.

Those players and coaches wage bills must be really beginning to grate now. I think more and more PL clubs are thinking the season won't be able to be ended.

PFA saying they would only consider a deferral of wages, not any sacrifice.

Think that that will almost certainly be the case, it is very difficult to envisage the season even finishing behind closed doors currently.
Looking further ahead, one wonders whether it will be allowed, whether people will want to, or even be able to afford, to fill sixty thousand plus seater stadiums. Not for several years I suspect. Our wonderful new stadium really could become the biggest white elephant of all time.

 

[Spursex]

Think that that will almost certainly be the case, it is very difficult to envisage the season even finishing behind closed doors currently.
Looking further ahead, one wonders whether it will be allowed, whether people will want to, or even be able to afford, to fill sixty thousand plus seater stadiums. Not for several years I suspect. Our wonderful new stadium really could become the biggest white elephant of all time.

I was speaking to a merchant banker yesterday, we started chatting about our shared love; He's not one to panic or over-react, but there is some real fear around that the our debt repayments, and the fixed overheads that they can't reduce any further, plus the fact our stadium was built with a high fixed overhead because of the additional non-footballing facilities, and that it may not be used for 3-4 years is going to push us to the financial edge.

Levy is going to have his work cut out. Fans will never accept a zero spend.

Add to that he thinks (they're doing impact modelling on future free-spend on leisure after (if) this is all over), and they're coming up with some horrible numbers - I wouldn't want to be invested and exposed to leisure businesses for a good few years. Which looks like our attendences could easily drop by one third for a few years.

I can see why now; I'm being told we may not be able to do a single piece of business when the transfer market ever opens.

Some agents are crapping themselves - which may be a positive for some! LOL!