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Financial Results y/e June 2017

BringBack_leGin

Well-Known Member
Jul 28, 2004
27,719
54,929
The Times backpage column headline today “ Players stung by Levy’s £6m”.
Could be something of an OG at a time when we are telling players it seems that we can’t pay them as much as other teams because of the new ground costs etc (if we are saying that).
Bigger picture is that we will have to pay the market rate to attract and keep plates and staff.
We need to start that now.

Pretty sure the players won’t give a shit what Levy is on. Just media mischief making. Who owns the Times? Rupert Murdoch. Who owns Sky? Rupert Murdoch. Who owns the Sun? You got it... M-Rupple himself!

Thus, like the Sun and SSN, creating mass hysteria is the one and only purpose of any Sports headline printed in that paper, and the quality of Sports journalism is less than you’d expect from a gibbon with severe learning difficulties.
 

Kiedis

Well-Known Member
Aug 4, 2013
2,926
8,490
I have more faith in our players intelligence than to believe that they are in any way outraged or surprised that the guy that signs their checks earn more money than them.
 

ComfortablyNumb

Well-Known Member
Jun 28, 2011
3,975
6,128
The bottom line is if we spend money, it has to hit the P&L at some point! No accounting treatment gets round that in the long term. The exception being if we expected to recover the cost at some point in the future, eg. sell the stadium for materially it's full cost, which isn't going to happen here.
That's what I thought, but my brother says otherwise. We capitalise the costs and it stays on the balance sheet undepreciated until it's sold or demolished. Never impacts the P&L.
 

Ben1

Well-Known Member
Jun 22, 2015
2,130
8,411
The Times backpage column headline today “ Players stung by Levy’s £6m”.
Could be something of an OG at a time when we are telling players it seems that we can’t pay them as much as other teams because of the new ground costs etc (if we are saying that).
Bigger picture is that we will have to pay the market rate to attract and keep plates and staff.
We need to start that now.
Papers trying to cause trouble...6m a year is a lot, but it's being used to make it sound dramatic. Transfer it to weekly wage, as people do in the world of football and it's up there with our top players (ignoring the fact he doesn't get paid that much weekly because this includes bonus), who don't actually run a football club.
 

spursfan77

Well-Known Member
Aug 13, 2005
46,680
104,956
The Times backpage column headline today “ Players stung by Levy’s £6m”.
Could be something of an OG at a time when we are telling players it seems that we can’t pay them as much as other teams because of the new ground costs etc (if we are saying that).
Bigger picture is that we will have to pay the market rate to attract and keep plates and staff.
We need to start that now.

Let me guess, written by Matt Hughes?
 

MattyP

Advises to have a beer & sleep with prostitutes
May 14, 2007
14,041
2,980
That's what I thought, but my brother says otherwise. We capitalise the costs and it stays on the balance sheet undepreciated until it's sold or demolished. Never impacts the P&L.
No disrespect to your brother but he is wrong. Only land doesn't depreciate, the stadium most definitely will be depreciating once it's in a condition to be used.
 

LDNYid

Well-Known Member
Jan 28, 2011
554
1,601
I have more faith in our players intelligence than to believe that they are in any way outraged or surprised that the guy that signs their checks earn more money than them.

As much as you’d hope this was true, the bottom line is we’re going to have to start competing on the wage front - not £350k a week but certainly closer to £200k. This is an absolutely huge summer, given the context of the new stadium, in which we must take a step forward regarding the wages of our best players; it is imperative that we maintain this momentum and to do so, our players must feel valued and content with the direction of travel, both as a club and as individuals. I hope the chairman earns his pay packet and navigates this with aplomb.
 

Kiedis

Well-Known Member
Aug 4, 2013
2,926
8,490
As much as you’d hope this was true, the bottom line is we’re going to have to start competing on the wage front - not £350k a week but certainly closer to £200k. This is an absolutely huge summer, given the context of the new stadium, in which we must take a step forward regarding the wages of our best players; it is imperative that we maintain this momentum and to do so, our players must feel valued and content with the direction of travel, both as a club and as individuals. I hope the chairman earns his pay packet and navigates this with aplomb.

Of course. Wasn't the latest wages to turnover ratio about 41%? That's stupendously low (healthy) in this climate. You'd expect the rumoured flurry of new contracts that was mentioned in the Telegraph would jack that number up quite a bit and see quite a few players moving closer to the 200k bracket.
 

SpartanSpur

Well-Known Member
Jan 27, 2011
12,552
43,063
As much as you’d hope this was true, the bottom line is we’re going to have to start competing on the wage front - not £350k a week but certainly closer to £200k. This is an absolutely huge summer, given the context of the new stadium, in which we must take a step forward regarding the wages of our best players; it is imperative that we maintain this momentum and to do so, our players must feel valued and content with the direction of travel, both as a club and as individuals. I hope the chairman earns his pay packet and navigates this with aplomb.

This is imperative. I have no qualms with the Toby situation, or Levy's pay, and just about accept ticket price increases as long as they deliver on the new contracts for Poch and the players as outlined in the Telegraph article. This will solidify us a fixture at the top of English football.
 

diamond lights

active member
Aug 31, 2012
1,442
5,657
I have more faith in our players intelligence than to believe that they are in any way outraged or surprised that the guy that signs their checks earn more money than them.
Agreed. Where's the surprise that the boss earns more than you and rightly so?

Since Levy took over we have progressed beyond recognition. We are an extremely profitable business (Levy's job) that has built a state of the art training centre, is about to move into the best stadium in London, has the best young manager in the League, is competing for top four regularly against the big (in financial terms) foreign owned clubs, is presently the top club in the capital and our players are sought after by other top clubs. Our set up is the envy of many.

As I recall none of this was the case before Daniel Levy.

There is work to do in increasing the rewards of our top players but this has to be done within sound business principles and appropriate timescales.

Arguably we could continue our upward spiral no matter which individual player we lost but without Levy and currently Poch the future would be much more uncertain.
 

tototoner

Staying Alert
Mar 21, 2004
29,387
34,059
@SwissRamble #THFC highest paid director, almost certainly Daniel Levy, received total remuneration of £6.0m in 2016/17 (up from £2.8m the previous season)

seems this is the only part of the financial results that the media reporting on, saying the players are unhappy and other nonsense

jokers
 

onthetwo

Well-Known Member
May 19, 2006
4,583
3,407
id love to see some genuinely insightful journalism from someone with the ability to back out the mix of fixed and success-related wages paid to the players. So bored of the fact that 99% of the articles focus on their basic salary.
 

Buggsy61

Washed Up Member
Aug 31, 2012
5,550
8,921
The media always want a story, and if there isn't one they try and make it up. These are an outstanding set of financial results (again), and Levy deserves a lot of credit.
As for the depreciation question. The new stadium will undergo regular revaluations to see what it is actually worth at present values, and it will all come down to what the stadium will cost to replace less depreciation of assets in the current stadium (fixtures/fittings etc).
If costs of construction rise considerably in the next few years it could be that the stadium is actually worth more, which will give rise to a revaluation reserve on the balance sheet.
 

SpartanSpur

Well-Known Member
Jan 27, 2011
12,552
43,063
Just seen the Times piece, full of quotes from the 'stunned' players naturally (sarcasm). Talksport went in hard on it today also. Do have to laugh at the differing approaches from these Murdoch companies and the more respected Telegraph. I guess a lot more people are desperate to read bad things than good things about Spurs!

Not only is the £6m artificially inflated by back-dated pay and bonuses, but they make no mention to the significant bonus pay our players apparently get.
 

Wirral Spurs

Well-Known Member
Jun 9, 2009
958
1,386
Hmmm nevertheless, it seems Daniel is living up to his tight arsed money grabbing reputation.
No one is happy in the media these days unless owners are tipping lorry loads of cash into the clubs irrespective of where it comes from.
 

Buggsy61

Washed Up Member
Aug 31, 2012
5,550
8,921
Hmmm nevertheless, it seems Daniel is living up to his tight arsed money grabbing reputation.
No one is happy in the media these days unless owners are tipping lorry loads of cash into the clubs irrespective of where it comes from.
yep - you would have thought they would be happy to see a club being run properly, but it doesn't sell papers.
Always thought it strange that clubs like Chelsea and City being bankrolled by rich owners never seemed to get the bad publicity that it deserved, but used to it now.
 

Lilbaz

Just call me Baz
Apr 1, 2005
41,363
74,893
As much as you’d hope this was true, the bottom line is we’re going to have to start competing on the wage front - not £350k a week but certainly closer to £200k. This is an absolutely huge summer, given the context of the new stadium, in which we must take a step forward regarding the wages of our best players; it is imperative that we maintain this momentum and to do so, our players must feel valued and content with the direction of travel, both as a club and as individuals. I hope the chairman earns his pay packet and navigates this with aplomb.

As @davidmatzdorf has already said the £6m is a one off including bonuses for delivering the stadium, training ground and cl. The players all got bonuses for getting us into cl and various other things, they are mostly getting offered improved contracts in the summer meaning that their basic pay will most probably be better than levy's.

Nothing to see here.
 

yankspurs

Enic Out
Aug 22, 2013
41,883
71,188
The Times backpage column headline today “ Players stung by Levy’s £6m”.
Could be something of an OG at a time when we are telling players it seems that we can’t pay them as much as other teams because of the new ground costs etc (if we are saying that).
Bigger picture is that we will have to pay the market rate to attract and keep plates and staff.
We need to start that now.
5F066BC7-61CC-43C9-9A26-BFF25C317BF9.gif
 

mpickard2087

Patient Zero
Jun 13, 2008
21,886
32,513
Heaven forbid that the guy at the top, overseeing the whole operation, who has been there longer than any of them and spent the best part of 20 years now building up the whole infrastructure of the club and turning it into an increasingly competitive, ambitious, and forward thinking club, gets a pay packet that reflects this.....
 

thelak

Well-Known Member
Aug 31, 2012
2,166
6,950
looking forward to the match day chants taunting the rest of the league now

“46% increase in revenue - you’ll never sing that”

And “la la la la la your p&l’s s**t”
 
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