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How can Spurs justify Levy's triple pay jump?

Discussion in 'Spurscommunity Front Page News' started by batigol, Jan 11, 2007.

  • by batigol, Jan 11, 2007 at 9:07 AM
  • batigol Member

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    Tottenham chairman Daniel Levy is the latest football club executive to receive a handsome pay rise, according to the club's recently-published annual report.

    In the space of two years his salary and pension package have increased more than threefold from £250,000 to £775,000.

    Critics are questioning exactly what Levy has done to deserve such a massive rise when Spurs have seen a drop in operating profits from to £11.4 million to £4.5 million during the five years since ENIC took control of the club.

    According to the latest accounts for the year ended June 2006, pre-tax profits also fell from £5.7 million to £2.9 million.
    But the club defend their decision to award Levy his bumper pay rise saying he was for a long time underpaid by industry standards and that Tottenham are in far better financial shape now than when he took over.

    They also argue that he has been integral in driving reinvestment on the playing side which has seen net assets increase from £43 million to £60 million since 2002 and left manager Martin Jol with a playing squad worth more than £200 million. Despite Tottenham's improvement on the pitch under Jol, Levy's pay could be a talking point at the club's annual meeting on Jan 29.

    Source: The Daily Telegraph
    http://www.telegraph.co.uk/sport/ma...1YourView&xml=/sport/2007/01/11/sfnbon211.xml
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Comments

Discussion in 'Spurscommunity Front Page News' started by batigol, Jan 11, 2007.

  1. wookie
    what a load of cr*p. compared to the amount of money accrued (through so many means...) by scoundrels like Freddy Shepherd et al, are we really going to begrudge Levy the equivalent of a third of a single player's wage, when we're well run, have cash and a good team in place?

    He's worth it
  2. BobC
    Fair enough. Daniel Levy has been an absolute legend for Spurs. He doesn't get enough credit for the massive changes he has brought about. Our Tottenham today are unrecognisable in terms of quality, strength in depth and our youth policy compared to the team when Levy took control. In addition to that, we now have our best manager in decades.

    I think this pay rise is entirely justified. Well done Daniel! If you get us a trophy, you can triple it again.
  3. DOX
    Don't mess with Levy:evil: !
  4. alchemission
    Well 'critics' have based that judgement on profit figures and not even bothered to actually delve into the P&L accounts, cash flow forecasts or debtors file. If they did, they might realise why Spurs are considered to be one of the most financially stable clubs in Europe, and the position now when compared to three-and-a-half years ago is infinately more promising...

    I for one, put this progress primarily down to the brave decision making and astute business acumen of Daniel Levy.

    I think the Telegraph has forgotten that in getting paid £775,000 a year makes Levy around the 13th highest paid person at the club, on just under £15,000 a week.

    Pay him double again, he deserves it.
  5. Blanketshifter
    I think its a disgrace. I wish I got paid £725k to turn up to work about 15 days a year. The man who runs the club is Matthew Collecott. While D Levy has turned the club around from the years of mismanagment of Sugar, Spurs are not achieveing anything more than a club of their size and stature really should. On top of this ENIC and all the directors including D Levy will be making millions this October (D Levy aprox £3m) out of the sneaky preference share option they made 3 years ago. This will also significantly increase their share holding in Tottenham. I think once this goes through they will be looking to cash in on the club. When doing this they will not be concerned whether the buyer is willing to invest in the team all they are concerned with is making money.
  6. NeverRed06
    he deserves it he has pushed us to a team going for the champs league, 3 years ago we were 14th in the league and before that we always finished in the 7th or 8th position, now we are challenging for europe every season
  7. Laudrup
    And excactly what do you base these suspecious allegations on - Levy has shown on several occassions, that he has a football-sight on things aswell a buisness-one, e,g changing the structure of the set-up and a willingness to bring in better players all the time.

    The policy of bying the best young talent in order to secure our longer-term future, can´t excactly be said to support your statement above either.

    Levy might just turn up for work 15 days a year - he must be pretty busy then....(to imagine that you actually compare your working-situation to Levy´s Eek ...).

    Pay him the same as our highest earner - then this is not so disgraceful anymore!
  8. striebs
    Whether the Spurs board have been heroic or not or are Spurs fans or not , they are unfortunately a bunch of money grabbers and don't do it with much style .

    £775k a year is a lot to you and me but it's peanuts to people with significant property interests like Levy .

    You are right , we should be concerned that their real motivation may be cashing in on the shares they have dishonestly obtained through the scurilous preferential convertible share option scheme .

    I was of the opinion that given the excesses of executive remuneration £775k a year is about par for the course .

    Are you sure he only works for about 15 days a year ?
  9. dickyid
    Football's big business like any other now - it's no longer funded by halftime meat pie and Bovril sales - so needs wages to ensure we get the best management both on pitch and off pitch.


    And Davids is getting triple Levy's wages...
  10. theMAXILOPEZpsycho
    I think it's pretty much bullshit to say, "he's worth it." Yes he may be better at running things than other chairmen; but what he does is essentially not that difficult. To command that type of salary you have to be a rare commodity; Levy is not - he just appears as one next to the power hungry egotistical megalomaniac chairmen of other clubs. But in terms of appointing staff, running the club financialy, there's pleanty of very astute football minded financial men who could do just the same job and would be delighted to get a salary of 100,000.

    So Mr Lewis, if you want to save yourself a few bob, I'm you're man!! (in fact I think Jol already takes advice from me by reading my posts)
  11. xzander
    Erm, well, Spurs profits were down last year due to going our of both cups at the first attempt and playing no cup games at home, thus our opportunities for matchday revenue were limited to 19 League games, which is not a great deal. Other than that, the club's unrecognisable from 3 years ago. So the Telegraph can fuck off.
    As for alchemission's conspracy theories; of course ENIC are in it for the money. They're called the English national INVESTMENT Company. It's not a bloody secret. All they've done is think about the business the club is in (football) and try and maximise the club's profitability. Since the best and most sustainable method of doing this is to achieve long term success on the field, that's how they've gone about it. In time they probably will sell the club on and make a large profit on it, which was the plan all along and well done them. It's not really a big deal now is it?
    By the way, levy's pay at £775,000 is £15K per week, which is probably the amoutn Christian Ziegler gets for playing in the reserves.
  12. xzander
    Sorry it was blanketshifter's conspiracy theory, not alchemission. I got confused. Sorry again.
  13. SpurSince1961
    It is disgusting.
    Same as many of the players salaries.
    Completely Obscene.
    Greed and corruption are rife in most humans unfortunately.
  14. dominguezmonkey
    Oh, for God's sake will some people get off their pious soapboxes. Who cares how much money Daniel Levy makes?

    Has the team improved since ENIC took over? Yes.

    Are we making sound investments in players? Yes.

    Is our buying policy the envy of many supporters of other clubs? Yes.

    So what difference does it make if Levy gets paid 750k a year? His boss is a billionaire for Christ's sake!
  15. justfookinhitit
    So what has he done at the club :-

    1 - After the Santini hiccup he's settled for a manager that is doing a good job
    2 - made funds available for forays into the transfer market (Chimby, Didier, Berbie the past summer)
    3 - Forced Manure to pay absolute top dollar for Carrick when he could easily have buckled and sold him for considerably less
    4 - Encouraged the club to recruit the best young talent in the country (Lennon, Hudd, Dawson etc) so we bring them in young and cheap rather than wait a few years and not be able to afford them
    5 - put the club on a solid financial footing
    6 - done his level best to cut off all lines of gossip from the club so that our transfer work is done out of the glare of the media so that we operate discreetly and hopefully get our targets at lower cost

    So all in all he's done what I would have expected of him. The final piece of the jigsaw is development of WHL. Someone mcommented on here that he may be close to concluding negotiations on that front. If he does then good luck to him.

    Finally, no-one in football sells or indeed buys a club for a good price unless it is a viable BUSINESS, and that means it needs to have the infrastructure (ie team, ground etc) for future success. So if ENIC build that infrastructure and the team is successful then spurs will be an attractive proposition, ENIC will sell for top dollar, the buyers will be buying an asset based upon top performance and will want to at least maintain or else their acquisition falls in value and we'll all be happy too.

    So stop bitching about his salary - he could earn more doing fundamentally the same job elsewhere if he wished.
  16. Parmenio
    actually the main point here is that if we want to retain Levy we need to pay him competitivly. This salary is lower than many chairmen of comparable companies in the private sector get.

    It's stupid to compare this salary to a "man on the streets" wages, it should be compared to Levy's peers.
  17. StokeSpur
    fook me!.. imagine walkin in to the mrs n sayin 'ive had a pay rise today hun'.. oh yeah? how much? ... 'well'....
  18. alchemission
    It's almost like you have indicted our board, singling them out for all this legal wrong-doing. Are you being short-sighted in criticising Spurs' Board, or have you seen the bigger picture and just addressed the case in point? This profiteering happens everywhere. And what you say may be right, but do not underestimate the work that has gone in to turning around our Club, and Daniel's role in that.

    Also remember, size and stature are inherent facets of a club and are not prerequisites of success... the day to day management is what makes the club and business which is THFC a success.
  19. switcher.
    I posted this yesterday, if Levy does manage to pull this off i think he'll be worth every penny!!. I have it on very good authority that Daniel Levy has almost completed a deal for the purchase of an industrial estate behind Paxton Rd. A printing firm on this estate is refusing to sell, but he hopes to wrap up a deal shortly. What relevance does this have on the club I hear you ask. Well, the plan is to rotate white hart lane on to this land and create one of the largest stadiums in the country. I work within football and this is 100% bonafide information. Remember where you heard it first!!! :grin: :grin: :grin:

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