Shock Daniel Levy reveal on page 19 as Tottenham staff furloughed
Daniel Levy was paid £7million by Tottenham last season as he retained his position as the Premier League’s highest-paid executive, it can be revealed.
Spurs’ latest set of financial results were released earlier this month and more details have emerged as the full accounts were lodged with Companies House.
The accounts for the 2018-19 season show on page 19 that Levy was paid £4m plus a £3m bonus for delivering the club’s new stadium.
The revelation comes on the day Tottenham announced they have given 550 non-playing staff a 20 per cent pay cut as part of furlough measures to “protect jobs” amid the coronavirus crisis.
Spurs have followed Newcastle in furloughing staff, with their employees getting 80 per cent of their salary for the next two months as part of the Government scheme.
The north Londoners moved into their 62,000-seater home in April 2019 and Levy was given the bonus, deferred from 2018, on top of his league-leading salary.
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His £4m annual package is the highest of all Premier League clubs to have filed their accounts for last season, placing him ahead of Man United vice-chairman Ed Woodward, who had a £3.16m salary.
Levy will take a pay cut as part of the furlough measures and said in a statement released today: “The club’s operations have effectively ceased, some of our fans will have lost their jobs and most will be worried about their future.
“Our sponsors will be concerned about their businesses and our media partners have no certainty when we may play games again or whether we will be allowed to play in front of our fans. In the meantime, the club has an annual cost base running into hundreds of millions of pounds.
The Londoners made a pre-tax profit of £82.3million (the post-tax profit was £68.6m) for the year ended 30 June 2019 and a record £460.7m revenue.
Analysis by Football Insider has showed that Spurs’ pre-tax profit for the 2018-19 season was the fourth highest ever recorded by a Premier League club.
It is behind only Leicester City (£92m) in 2016-17, Liverpool (£125m) in 2017-18 after they sold Philippe Coutinho and Tottenham themselves, who hold the record with their astonishing £139m profit in 2017-18.
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