Tottenham Hotspur chairman Daniel Levy has announced that all non-playing employees of the club will receive at 20% pay cut for the next two months due to the ramifications of the coronavirus.
This comes shortly after top European clubs such as Juventus and Barcelona announced pay cuts due to the coronavirus pandemic earlier last weekend.
Spurs have followed Newcastle in announcing pay cuts for their employees according to the report, as the club prepares for this uncertain period of time without football.
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The Premier League has been suspended until the coronavirus situation improves while clubs prepare to handle day to day operations in these times of economic crisis because of the deadly virus.
In a strong statement on Tottenham’s official website, Levy said:
“We have seen some of the biggest clubs in the world such as Barcelona, Bayern Munich and Juventus take steps to reduce their costs.
“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% utilising, where appropriate, the Government’s furlough scheme.
“We shall continue to review this position.
“The decision by governments around the world to effectively close down economies with unheard of peacetime impacts on civil liberties in order to minimise the terrible effects of the COVID-19 pandemic is the right one to protect human lives.
“The crushing devastation on industries in many countries, the inter-dependence of international trade and travel in every aspect of our daily life is only now beginning to be felt.
“Every person on this planet will be affected and in my lifetime I cannot think of something so impactful.
“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 consensus is that most Premier League clubs will follow Newcastle and Tottenham’s example and also announce pay cuts for their players and staff in the coming weeks.
It will be intriguing to see how most football teams come through the coronavirus crisis, as it seems even the biggest names are going to be majorly affected by the ensuing financial crisis.