Tottenham confirm coronavirus wage cuts in order to ‘protect jobs’
Chairman Daniel Levy among 550 non-playing staff who will take a 20 per cent hit to their income as the financial fallout from the pandemic starts to show
31 March, 2020 — By Steve Barnett
TOTTENHAM chairmen Daniel Levy has confirmed the club have given non-playing staff a 20 per cent pay cut to “protect jobs” amid the coronavirus crisis.
Spurs will also take advantage of the Government’s furlough scheme “where appropriate” – allowing any employees who do not work to still get 80 per cent of their salary for the next two months.
The club’s 2018-19 accounts published on Companies House showed Levy earned a £3m bonus for delivering Tottenham’s new 62,000-seater stadium on top of his £4m salary. But now he is one of 550 staff members taking a 20 per cent cut to their salaries.
He said: “The club’s operations have effectively ceased, some of our fans will have lost their jobs and most will be worried about their future.
“Our sponsors will be concerned about their businesses and our media partners have no certainty when we may play games again or whether we will be allowed to play in front of our fans. In the meantime, the club has an annual cost base running into hundreds of millions of pounds.
“We 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.”
The financial fallout from the coronavirus crisis is being seen at football clubs across Europe. Barcelona players are taking a 70 per cent pay cut and will make additional contributions to ensure non-sporting staff receive full wages.
Meanwhile Juventus players and manager Maurizio Sarri have agreed to freeze their pay for four months, while German sides Bayern Munich and Borussia Dortmund have also agreed to take pay cuts.