Spurs may follow Newcastle wage cuts, Saudis haggle for lower Toon takeover fee due to Covid-19 crisis

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Tottenham may follow Newcastle wage cuts

Of course it was going to be Newcastle United, right?!

Newcastle United have become the first Premier League club to cut wages following the suspension of the Premier League season.

The Times have reported on the reductions in salaries at St James’ Park:

Newcastle have joined EFL clubs such as Birmingham City and Millwall in placing the majority of their workforce — with the exception of players and first-team coaching staff — on furlough.

(Newcastle owner Mike) Ashley has now opened himself up to further criticism by taking advantage of the government’s coronavirus job retention scheme, which provides workers with 80 per cent of their wages up to a maximum of £2,500 per month.

Tottenham may be the next Premier League club to take such cost-cutting measures.

The Times confirm that Spurs may follow Newcastle’s lead in telling a large proportion of their workforce that they have been furloughed.

Spurs are “under pressure” to cut wages as “their business model relies heavily on match-day revenue”.

Of course, Tottenham recently moved into their new stadium, which cost one billion pounds.

Saudis haggle for lower Toon takeover fee due to Covid-19 crisis

What’s happening with Newcastle United’s takeover?

This week reports have circled that the Saudi Public Investment Fund are closing in on a 340 million pound takeover at St James’ Park.

It appeared that Mike Ashley’s days at the Magpies could soon be over.

However, the Times on Tuesday have thrown a spanner in the works, claiming that the Saudis are now looking to reduce the price due to the Covid-19 crisis:

The group bidding to take control of Newcastle United are seeking to lower the asking price in light of the huge uncertainty in football because of coronavirus.

The initial price that was put forward by PIF was believed to be in the region of £340 million. The figure offered now is thought to have dropped from there, to nearer £300 million.

 

See also: Best Netflix, Amazon & YouTube football documentaries & movies to watch during coronavirus isolation

Best football podcasts to listen to during coronavirus quarantine

9 best football documentaries to watch on ESPN+ during COVID-19 quarantine



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