PL clubs taking furlough payment option

[YES Blade]

I find the Treasury loss of revenue a particularly laughable angle.

I assume that's aimed at my post, like I said if the player pay cut money goes to a charity or to fund the NHS, then that's fine. But if it stays within the club, then that's a huge boost to reducing the club's operating costs and a loss to the treasury.

If clubs are paying millions less in wages to players, managers and top executives, then the treasury isn't getting 45% + NI of those wages. That will work out to be millions HMRC will lose out on.

 

[Maidenhead]

That will cause companies to likely go out of business, if there is a massive run on their shares. Also those most likely to be affected will be pensioners or those just about to take their pensions which they've paid into for 40 odd years.
I think dividends could be witheld, although I'm still not 100% sure if that's right and fair, however if it keeps the business running it makes sense. But suggesting investors should pull their money would have huge repercussions.

How would " a run on their shares" force any company out of business?

They've already had the money for the shares when they were issued.

The only people that the share price directly affects are the shareholders who could stand to lose a lot of money in that scenario, and directors and senior managers belonging to a bonus scheme that has the share price as a prime objective.

The fall in the share price has no other direct impact on the underlying trading entity.

 

[Maidenhead]

There is a wider debate to be had about wealth and how companies are run, what responsibilities owners have, etc. But that's politics, really, and you can't suddenly take a unique situation and start throwing out wild accusations. Especially without knowing all the facts.

It is very easy to blame the rich for just about anything, but we've seen how countries end up when they do away with the rich and the well off. There is a clear trade off between having a thriving economy and allowing people to get rich - and keep their wealth. You can't flick a switch on a whim.

Overall I am uneasy about the distribution of wealth across the world and the gap between rich and poor. I am uncomfortable with things like football players' salaries. Or how companies can be sent into receivership whilst directors walz off with bulging wallets. And so on and so on. I am just a little cautious about frothing over "the rich" when it suits, especially targeting one or two people without knowing the details.

As for your last point, a lot of companies will be facing some hard decisions, not just now but for at least a year as the knock on effects are felt. No one can really judge which companies will better benefit from taxpayer money, or are taking advantage, or are making the wrong decisions, or will be best place to contribute when we all get back to normal. There are too many factors, so the government just has to make a general rule and let everyone eligible apply.

I pretty much agree with all of this, and particularly the highlighted bit.

I feel a bit guilty about being entitled to a state pension that I don't really need next year whilst there is so much poverty in our society.

I'm going to take the pension though because I have contributed through tax and NI throughout my working life, and whilst the super rich are paying very little in taxation my guilt isn't as great as it otherwise would have been.

Also, I'm not given to grand gestures. I will however increase my regular charitable contributions to those causes that I deem to be the most deserving.

Having said all that my investment account lost £7k in a week so if that continues I may need the state pension for myself after all
.

 

[Hamburg Blade]

I pretty much agree with all of this, and particularly the highlighted bit.

I feel a bit guilty about being entitled to a state pension that I don't really need next year whilst there is so much poverty in our society.

I'm going to take the pension though because I have contributed through tax and NI throughout my working life, and whilst the super rich are paying very little in taxation my guilt isn't as great as it otherwise would have been.

Also, I'm not given to grand gestures. I will however increase my regular charitable contributions to those causes that I deem to be the most deserving.

Having said all that my investment account lost £7k in a week so if that continues I may need the state pension for myself after all
.

I wasn't particularly meaning a situation that you describe there and don't think you need to feel guilty. It's more an overall concern that there are people with yachts and garages full of supercars whilst people are begging for enough to stop them starving. Nor am I saying I have the answer, or that people shouldn't strive for and achieve wealth. Just that despite being well into the digital era in the 21st century we haven't overcome these things.

 

[ZoneManWilf]

 

[Bladesman]

Fair play to the Premier League.

Unsurprising to see an Arsenal fan chime in and say void season in the comments.

 

[FallowfieldBlade]

Why a pay cut ?

That just means that owners like Levy & Ashley will save 30% in wages.
Pay them fully and donate the 30% to the NHS.

Cutting there wages does nowt unless the club is gonna go bankrupt which premier league clubs aren’t

 

[LoughboroBlade]

Found this a very enjoyable read today on the issue of cutting wages

'It's embarrassing': The exclusive player response to Hancock - Football365

Johnny Nic has the ear of an anonymous Premier League player with quite the response to Matt Hancock.

www.football365.com

 

[FallowfieldBlade]

Found this a very enjoyable read today on the issue of cutting wages

'It's embarrassing': The exclusive player response to Hancock - Football365

Johnny Nic has the ear of an anonymous Premier League player with quite the response to Matt Hancock.

www.football365.com

Not a clue who that could be

Bet it’s all made up

 

[Northyorksblade]

Found this a very enjoyable read today on the issue of cutting wages

'It's embarrassing': The exclusive player response to Hancock - Football365

Johnny Nic has the ear of an anonymous Premier League player with quite the response to Matt Hancock.

www.football365.com

So who do we reckon this is then ?

 

[LoughboroBlade]

So who do we reckon this is then ?

I hope we never find out for exactly the reasons he mentions, all of which seem entirely fair to me.

I’ve personally been in favour of wage capping the league. While this player’s suggestion would probably be fine for the majority of players in the PL, for the likes of Simon Moore and Kieron Freeman who probably aren’t on crazy money and whose next moves will be likely to clubs paying them substantially less it’s a tougher for them to contribute to the same degree.

 

[Tarqs]

Why a pay cut ?

That just means that owners like Levy & Ashley will save 30% in wages.
Pay them fully and donate the 30% to the NHS.

Cutting there wages does nowt unless the club is gonna go bankrupt which premier league clubs aren’t

Exactly this, even if they donate 30%, they're still being taxed on that donation. It should come out of their payslip before any tax....Screw the billionaire owners saving more money (on top of their furloughed staff).

 

[FallowfieldBlade]

So who do we reckon this is then ?

Danny rose maybe ?

 

[robbiez666]

Given our owner must be raking it in on the bog roll front, I reckon he'll be fine without wages being cut!

 

[Bladesman]

Danny Rose says no problem with Premier League players giving up wages

Danny Rose says he feels Premier League players' "backs are against the wall" over discussions about wage cuts.

www.bbc.co.uk

 

[Bladesman]

 

[YES Blade]

I hope we never find out for exactly the reasons he mentions, all of which seem entirely fair to me.

I’ve personally been in favour of wage capping the league. While this player’s suggestion would probably be fine for the majority of players in the PL, for the likes of Simon Moore and Kieron Freeman who probably aren’t on crazy money and whose next moves will be likely to clubs paying them substantially less it’s a tougher for them to contribute to the same degree.

It’s ok capping wages, but where would all the money go that is generated by football?

To be honest, I’d rather a big chunk of it went to the players than in the arse pocket of billionaire owners.

 

[LoughboroBlade]

It’s ok capping wages, but where would all the money go that is generated by football?

Simple – cap all Prem tickets at £20 for adults for everywhere for the season. It’s time football took a stand on that, and would be a good start to making football more affordable for all again. Set that at the top, and you’d see the leagues below inevitably have to follow, and start forcing clubs to take their financial sustainability more seriously.

 

[YES Blade]

Simple – cap all Prem tickets at £20 for adults for everywhere for the season. It’s time football took a stand on that, and would be a good start to making football more affordable for all again. Set that at the top, and you’d see the leagues below inevitably have to follow, and start forcing clubs to take their financial sustainability more seriously.

Again that’s fine, but what about the billions from TV deals? The corporate hospitality will still bring in millions for some clubs, sponsorship deals are still going to keep getting bigger.

Unless you’re thinking of capping wages at say £100k p/w, but then what’s the point?

 

[LoughboroBlade]

Again that’s fine, but what about the billions from TV deals? The corporate hospitality will still bring in millions for some clubs, sponsorship deals are still going to keep getting bigger.

Unless you’re thinking of capping wages at say £100k p/w, but then what’s the point?

Grassroots football, charity donations...that’s me thinking off the top of my head but let's be honest, if you’re struggling to find good stuff to spend the money on, then it’s probably a clear sign there’s too much money in the sport as it is. Which is what the F365 interviewee was getting at.

 

[YES Blade]

Grassroots football, charity donations...that’s me thinking off the top of my head but let's be honest, if you’re struggling to find good stuff to spend the money on, then it’s probably a clear sign there’s too much money in the sport as it is. Which is what the F365 interviewee was getting at.

Which is very true, I have no issue with footballers earning big money as they are the ones that people pay the money to watch. It’s no different to any entertainment industry.

In an ideal world, the money would be distributed better, but it’s like any big business, there will always be people getting rich out of it. If you drop wages, agents and owners would just line their pockets more in my opinion.

 

[Akinbiyi]

Liverpool at it now

 

[YES Blade]

Liverpool at it now

Don’t blame them, I assume Liverpool will be one of the clubs looking at a £100m shortfall, which Burnley refer to in their statement:

£50 Million Shortfall If Clarets Don’t Finish The Season

Further to the Premier League statement released post the Premier League Shareholders meeting held on Friday 3rd April, Burnley FC is keen to be transparent with supporters, staff and stakeholders and is therefore able to confirm that due to the continued suspension of Premier League games this pres

www.burnleyfootballclub.com

 

[Akinbiyi]

Don’t blame them

Yeah, we know

It’s immoral, disgusting, and absolutely wank PR

 

[Akinbiyi]

 

[The Vicar]

From one of the unfortunate Staff at LFC.

Not feeling like a family member'
A member of staff who works at Liverpool, and did not wish to be named, told BBC Sport: "The club call their staff their family - I'm not feeling like a family member.

"Why is a club that turns over [millions of pounds] using a government scheme for its staff when other businesses are more in need of it?

"I feel disappointed and I'm feeling that this government scheme could be used by businesses in trouble."

 

[Akinbiyi]

From one of the unfortunate Staff at LFC.

Not feeling like a family member'
A member of staff who works at Liverpool, and did not wish to be named, told BBC Sport: "The club call their staff their family - I'm not feeling like a family member.

"Why is a club that turns over [millions of pounds] using a government scheme for its staff when other businesses are more in need of it?

"I feel disappointed and I'm feeling that this government scheme could be used by businesses in trouble."

The fans of both Liverpool and Spurs on social media seem to be rightfully disgusted. Doesn’t make it right but makes me a bit happier.

 

[FATTYFOULKE]

The fans of both Liverpool and Spurs on social media seem to be rightfully disgusted. Doesn’t make it right but makes me a bit happier.

I’m really hoping United don’t follow in theirs, Newcastle and Bournemouth’s footsteps. We shouldn’t be that desperate for the money now, especially after only a month of shutdown. We aren’t the richest of the Premier League clubs, more one of the poorest. But we should have enough to see this through with ease.

Furlough wasn’t designed to help out cash rich Premier League clubs who can find the money to pay players tens of thousands a week but seem to struggle to pay non playing staff £15-20k a year and most likely less in a lot of cases.

It’s shameful and I’ll be saying the same if we do it.

 

[Davalon]

Well....I go to the foot of our stairs.

Genuinely shocked agents are calling for deferments rather than temporary pay cuts.

Cunts.

 

[YES Blade]

I’m really hoping United don’t follow in theirs, Newcastle and Bournemouth’s footsteps. We shouldn’t be that desperate for the money now, especially after only a month of shutdown. We aren’t the richest of the Premier League clubs, more one of the poorest. But we should have enough to see this through with ease.

Furlough wasn’t designed to help out cash rich Premier League clubs who can find the money to pay players tens of thousands a week but seem to struggle to pay non playing staff £15-20k a year and most likely less in a lot of cases.

It’s shameful and I’ll be saying the same if we do it.

I saw on Sky Sports News that the Burnley chairman has said that if football doesn't resume by August they'll run out of money, so it wouldn't surprise me if we are in a similar position as they are.

I don't expect us to go bust or anything, but it wouldn't surprise me if we had some serious cash flow problems as we've got a bigger wage bill and more importantly spent some big money in the last two transfer windows. A lot of that will depend on when we need to make the next payments for Berge, McBurnie, Mousset etc.