Many businesses are having problems adjusting to the chaos of the COVID-19 crisis. Tottenham is far from alone. Tim Martin of the national discount pub chain Wetherspoons tried to sack all his staff (40,000+) overnight and would’ve got away with it too, had it not been for those pesky kids on social media and a petition from a herd of MPs.
The very latest CEO to join the Big Nasty Business Club, is the boy Levy. On the 18th of March, THFC published their most up to date financials.
Less than a fortnight later, the very same THFC that most normal people would agree was a private company swimming in cash announced it was to avail of the Government’s furlough scheme. Which meant asking the state to pay 80% of the company wage bill due to an enforced suspension of trading.
Let’s just pause for a moment here to be crystal clear about money. Tottenham is every inch the poor relation when it comes to winning actual trophies but in footballing finances, Spurs sit at the very top table as this most recent Deloitte report clearly attests.
The response from the overwhelming Spurs fans to express an opinion online has been at best unfavourble.
We English are a funny lot, and when it comes to this sort of situation, many sees a huge business dipping its beak into the public purse when there are so very many less fortunate companies out there, as being, well, “just not cricket”.
I take the view that it isn’t helpful to start pointing and shouting about Mr. Levy’s individual circumstances. If the business is daft enough to pay out a bonus on a project that horrifically overran on both delivery time and budget, that’s the daft business’ concern.
There’s an interesting paragraph in this recent piece on The Athletic which inadvertently highlights the latest bungle that is teed up to haunt Daniel Levy forever.
You see, you cannot have it both ways. Not even if… you’re the Teflon Don of N17.
Mud sticks and no amount of “yeah but everyone else is doing it” can possibly save Levy from being shamed.
The reality is, a club the size of Tottenham has plenty of cash sloshing about and the undoubted right thing to do, was to safeguard the income of their staff.
Remember, in a climate were Lionel Messi takes a 70% wage cut, all other arguments are silenced. The scything of the Spurs player’s wages was also the right thing to do. One hand washes the other.
As I’ve pointed out relentlessly over the years, ENIC has form for not doing the right thing. For greater detail, I suggest you use the search function at the top of the page and pop in “regeneration” in.