Tottenham Spurs boss Daniel Levy has encouraged his players and coaching staff to take a salary cut as football has come to a standstill due to the COVID-19 pandemic.
This announcement comes shortly after it was revealed that the Spurs boss had his salary almost doubled last year to £7 million.
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As revenue streams dry out due to the suspension of all football competitions during the COVID-19 pandemic, clubs worldwide are having to tighten their belts and make financial sacrifices if they are to ride out the sports lull.
Daniel Levy announced that his 550 non-playing directors will be taking a 20% salary cut to help ensure those club employees still receive their salaries without having to be laid off although the club has not announced how many of those employees would be put under furlough.
He made the following announcement on behalf of the club:
“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% utilizing, where appropriate, the government’s furlough scheme. We shall continue to review this position.”
“We hope the current discussions between the Premier League, PFA (Professional Footballers’ Association) and LMA (League Managers Association) will result in players and coaches doing their bit for the football ecosystem,”
“Many families will have lost loved ones, many businesses will have been destroyed, millions of jobs lost and many clubs whether big or small may struggle to exist,”
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“It is incumbent on me as chairman to ensure we do everything we can to protect our employees, our fans, our partners, our club for future generations — and equally important — our wider community where we have such an immense sense of responsibility”
The Tottenham Spurs director’s salary increase comes as a result of the Spurs successful 2017/18 season which saw the club returning to the UEFA Champions League again.
On top of the salary increase to £4 million, Levy received a further £3 million for the completion of the new 61,000 seat stadium that was completed in 2019.