Tottenham fans might imagine that there are few days in the calendar that Daniel Levy enjoys more than the release of the club’s financial results.
This isn’t a cheap play on the popular image of a chairman who in reality, is shrouded in privacy and most know very little about. What is accepted is that the ENIC boss is on a mission to protect Spurs from the short-termism that has engulfed other Premier League sides, and it all starts with their very well-run business model.
However, this year’s statement may have been released with a bit more unease. The main figure doing the rounds relates not to Spurs’ solid turnover, but to the £6million Levy earned last season.
Unfortunately, the way the financial world works means Tottenham had to release their results this week. From a PR point of view, it couldn’t really be worse timing, with widespread fear that Toby Alderweireld is on his way out of north London because of an alleged contract dispute.
One of the best centre-backs in Europe is not the only player who has been reminded of the strict wage structure that Levy has in place. Among the coverage of Levy’s salary, The Times suggest that the dressing room has been ‘stung’ after learning of the figures.
As it stands, only Harry Kane and captain Hugo Lloris – and Levy himself - have breached the £100,000-a-week mark.
It provides some comfort to know that there is a little more dressing around the £6m being quoted. In the 2015-2016 season, when Spurs were pipped to the title by Leicester, Levy earned £2.84m. The sum has increased so much because of a bonus payment relating to the club’s record turnover; in other words, the number being talked about– the exorbitant £6m – is actually a one-off and doesn’t really reflect his salary.
That's gone up from £2.8m from the season before...
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It is, nevertheless, double the respective incomes of other Premier League chairmen. Manchester United’s Ed Woodward earns slightly under £3m at the world’s richest club.
What does Levy bring to the table in return? For those sums, presumably something that is deemed irreplaceable. As far as transfer negotiations are concerned, he has the fiercest reputation in the league. David Gold doesn’t plan to work with him again, oddly enough, after failing to sign Emmanuel Adebayor on loan in 2015. Levy, in turn, is reluctant to do business with Manchester United ever since their capture – quite literally – of Dimitar Berbatov in 2008.
There are countless success stories in the current line-up. Dele Alli cost £5m, Christian Eriksen £11m, and Jan Vertonghen £15m. Harry Kane didn’t cost a penny.
For all the criticism they receive for failing to compete with the other ‘big six’ when it comes to transfer fees and wages, Spurs should actually be praised. They are on course for another top-four finish and it’s remarkable. It’s what every fan who is against the ludicrous excesses of modern football should wish for. Of course, what Tottenham fans also wish for is trophies. On that front, Levy hasn’t delivered, with just the one Carling Cup to show for his reign since he took over from Lord Sugar in 2001.
Mauricio Pochettino is also thought to be in line for a significant pay rise, landing him £8.5m a year. For, as Spurs prepare to head home to their new stadium, the mantra from the boardroom is that it is just important what happens off the pitch as on it.
Incidentally, it is Levy’s vision that has been the chief architect behind the new ground in N17. That is a responsibility he will have to shoulder going into it next season, good or bad. Just like his enemies, Gold and Sullivan, he has promised to transform his club’s future, but it will be on his head if the Northumberland Park Project turns out anything like the London Stadium.
It is always difficult to differentiate between the chairman we think we know and the real Levy. The 56-year-old can never be accused of taking a backseat, yet only time will tell if the personal rewards he reaps from the club can be justified.
