Tottenham Hotspur forced to reduce salaries by 20% for April and May
The footballing world is not exempt from the fallout of the coronavirus pandemic. With on-field activities currently suspended, off-field events have not stayed immune.
The lack of football and ceasing of the club’s activities have put Tottenham Hotspur in a tough spot. The situation has forced club chairman Daniel Levy to issue an update on the club’s official website.
Spurs have been forced to make the difficult decision to reduce the remuneration of all 550 non-playing directors and employees for April and May. This has been done by a margin of 20%, by utilizing the Government’s furlough scheme where appropriate.
The statement mentions that this tough measure was initiated to protect jobs while the club will continue to monitor the situation.
Tough but needed
Tottenham are the eighth largest club in the world by revenue according to the Deloitte survey. However, we are not immune to the prevailing situation. Levy has stated that football is a sport that cannot operate in a bubble, necessitating tough decisions to be made.
He brought to notice the enormity of the situation at hand, where over 786,000 people have been infected, resulting in nearly 38,000 deaths. A large part of the world is also currently in lockdown.
The commercial aspects of the club will also suffer due to the lockdown. Sponsors will be concerned about their business while media partners grapple with the uncertainty of how games will be played, if at all.
Levy also urged people to do their bit for the society while reiterating his responsibility to his employees and fans as the club chairman.
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We as a club are doing our bit to contribute to the fight. The latest act by the club is to allow the Tottenham Hotspur Stadium to be used to support the vulnerable individuals affected by the coronavirus pandemic.
