It’s Just Simple Maffs, Love

It’s amazing how news of Harry Kane’s bumper new contract wiped previous rumblings from memory.

“There’s loadsamoney” quickly turned into “Where is all this money going to come from?”

Did Levy rob a bank?

Have we already agreed to sell half the squad to pay for Kane’s rise?

Has Uncle Joe finally realised how completely unfair it is of him to deny us fans his hard earned wealth?

I’m sorry to disappoint, but the truth is rather dull, simple maffs.

Well run football clubs try to maintain a wages to turnover ratio of around 50%. If a clubs revenue increases, this means the the wage bill can increase too.

That’s it. Rather simple, rather boring.

Tottenham Hotspur Football Club’s results for the financial year ending June 16 were as follows:

Total revenue £209.8mil

Total wages £100mil

This gave wages to revenue ratio of around 48%


The end of financial year June 17, and the most recent record shows the following results:

Total revenue £306.3mil

Total wages £126.9mil

This gave wages to revenue ratio of around 41.5%

As you can see, a massive increase in revenue, and a year on year increase in wages of £27 million, yet a DECREASE in wages to revenue ratio from 48% to 41.5%.

What this means in essence is that, if we were to maintain a wages to revenue ratio of 48%, as per the previous year, there is a surplus of available wages totalling around £20million.

Harry Kane’s new contract is worth an extra 5.2mil per year, so around a quarter of the surplus as explained above. Comfortably affordable, and plenty spare for other player/staff contract increases (such as the new contracts for Poch, Jesus and the gang).

But it doesn’t stop there……

The above results and calculations are based on financial year ending June 2017, and it’s now June 2018. Since then, we have played every home game at Wembley which will no doubt show a huge increase in matchday revenue, especially as the last year at WHL was with a reduced capacity. Then there’s the extra money earned for our exploits in the CL, compared to the previous year. Plus the new Nike deal, and no doubt other increases in commercial deals.

Our revenue increase from year ending June 16 to year ending June 17 was a whopping 46%. I wouldn’t be surprised if we see a similar increase when the next results are published, but lets be pessimistic (for a change) and suggest that our revenue only increased by 20%. This would mean the following:

Suggested revenue year ending June 18 £367.6mil

If we maintain a healthy 48% wages to revenue ratio, our wage bill would be around £176.4mil

That means an increase of £49.5mil in available wages.


Kane’s new contract £5.2mil.

It looks tight, but I reckon we can just about get away with it.




  • Superspoz 🏆 09/06/2018 at 11:05 am

    Get in,back of the net.

  • Superspoz 🏆 09/06/2018 at 11:06 am

    Can I share this on Twitter
    There’s alot of confused souls there too..

    • Freund or Foe 09/06/2018 at 11:16 am

      Fine with me mate, hopefully the edited version above.
      Simple maffs weren’t so simple for me after all!

      • Caspurs 09/06/2018 at 11:27 am

        That’s the edited version?!

        • Freund or Foe 09/06/2018 at 11:30 am

          I made an error and had the available wages at 70mil, but thankfully noticed.

    • Freund or Foe 09/06/2018 at 11:42 am

      What’s your Twitter name, Spoz?
      I’ve barely done any tweeting, so would be good to follow a fellow Oeufer.

      • Anonymous 09/06/2018 at 12:31 pm

        @flatoeuf has just been born but I’m far form a prolific tweeter and don’t intend to become one atm

        • Anonymous 09/06/2018 at 12:44 pm

          I’ve just followed.
          Should we be posting blog links to the @flatoeuf twitter feed? If it’s there, might as well use it.

          • Freund or Foe 09/06/2018 at 12:44 pm


            • Flat Oeuf 09/06/2018 at 12:46 pm

              Yes, if you like. Anyone welcome to use it.

              If there’s an avid Tweeter on here who wants to put some time into it…?

  • Caspurs 09/06/2018 at 11:19 am

    A. Financial breakdown from 2010 onwards:

    B. Estimated income for 2018/19 season

  • Freund or Foe 09/06/2018 at 11:47 am

    It seems that some believe we are borrowing £1bil for our new stadium, instead of the 400mil that we’ve actually borrowed.
    Maybe that’s why they can’t get their heads around the figures?

    • Caspurs 09/06/2018 at 11:50 am

    • McG ⚽⚽ 09/06/2018 at 12:48 pm

      That’s the part that really does my head in, that & the fact you can guarantee we’ve already started paying some of those costs off already…

  • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 11:50 am

    I wish I could add,FoF.
    Ive tried it using the Ronglish system but always forget the first number I thought of and get a bit lost with more than one digit. I like a flow more than a balance sheet. I do hate red ink for obvious reasons. Its the times of the sign I guess.
    I guess the assets should out way the liabilities I guess. Revenues over debt. In the world of Zero sum its still nil nil. Net Net Nyet. No room for margins.
    Give Spot the ball.Watch Spot run. The finances should look after themselves. Build it and they will come and if they wont borrow another half a million.

  • Flat Oeuf 09/06/2018 at 12:37 pm

    This is excellent FoF. The maffs is not my strong point innit but this is very digestible.

    Yum, Yum some figures that even Cookie Monster would struggle to make a meal of.

    With renewed and improved contracts mooted for Dele and CE too, it’ll be very interesting what happens with Toby. In my view, if he goes, it’ll be because he’s forced a move by sticking to £180kpw basic and/or because Poch has not really forgiven him for the switcheroo and/or because the Club assess him to be not to be worth the full amount and are sticking to the £120kpw he originally agreed.

    • Freund or Foe 09/06/2018 at 12:51 pm

      I get the impression Tobes really wants a move, so its not completely about wages, although I’m sure that is a major factor.
      We’ll probably never know exactly what went on re agreements that were broken, exactly how Poch played his cards etc etc, but at this point I’d be happy with either possible scenario, selling him for good money and getting a good replacement, or letting him run down his contract and therefore keeping him for a year or two.
      I’ve no doubt that Poch wants a happy dressing room, so it’s his shout as to whether Tobes will be a disruptive influence, or just gets on with it. The signs are that he will remain professional, but only those on the inside know exactly what the situation is.

      • Flat Oeuf 09/06/2018 at 1:02 pm

        Yup, I think he wants the moolah too. How else do you explain the jump from 120 -> 180 within a few weeks?

        I can understand that too, at his age. What if his hammys start playing up again next season? Who wouldn’t want to guarantee earning an extra £3m per year over 4 years if the worst came to the worst?

        And what well-run Club wouldn’t factor this into their decison as to whether to offer the same player that contract?

  • Ronwol196061 09/06/2018 at 12:43 pm

    If we ramp up the Sissoko shirt production…..

    • Flat Oeuf 09/06/2018 at 12:44 pm

      What more than 2?

      • Ronwol196061 09/06/2018 at 12:48 pm

        No its nuffink to do with dat.I was finking if we sold Sissoko shirts in sets of 4 for $19.95 a set…..we could still turn a profit..Look Ive got a mate in Guandong who can do it

        • Ronwol196061 09/06/2018 at 12:48 pm

          We could buy three sets….

          • Ronwol196061 09/06/2018 at 12:49 pm


            only need 4 letters per shirt..

            • Ronwol196061 09/06/2018 at 12:51 pm

              Numbers are more expensive mind you.There are two Os and they are free and the I is only 4 quid over there

              • Ronwol196061 09/06/2018 at 12:54 pm

                Ali Express is knocking out Sissoko shirts to the middle east..they are buying them like hot cakes

                • Flat Oeuf 09/06/2018 at 1:02 pm

                  OK, OK, I give up! I’ll buy some!

                  • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:04 pm

                    They were already on the way.Its sale or return. If you dont like them you can send them back but only via Ronglish Courier (ask for prices)

  • McG ⚽⚽ 09/06/2018 at 12:50 pm

    Nicely put together btw Foe. It really don’t take a genius now does it?!

  • SpurAndy 🍒 🥧 09/06/2018 at 12:51 pm

    Fantastic bleuog FoFty, you just knocked it out of the ball park! I think maintaining the wages to income within the 40% to 50% is the sustainable and sensible thing to be doing. Makes sobering reading for any Rascist fans who’s wages/income is around 67% (as at June 2016) and with the uncertainty of Abramovich still being there benefactor.

    • Ronwol196061 09/06/2018 at 12:53 pm

      Whats the bottom line?

      Can we buy Kovacic?

      • SpurAndy 🍒 🥧 09/06/2018 at 12:55 pm

        I’ve just found 50p a tiddly wink and a button down the side of my sofa. It’s a start.

        • Flat Oeuf 09/06/2018 at 12:57 pm

          You charge 50p per tiddly wink? Sounds reasonable enough to me.

      • Freund or Foe 09/06/2018 at 12:58 pm

        Mate, we could increase wages for our best players, and still have plenty for a few big signings. Bale could be very possible.
        The caveat to all this is that the current financial results are heavily boosted by our CL participation, so I expect Levy to be a little cautious and ensure that costs are covered, even if we don’t qualify for the CL. That would be sensible and prudent.
        But even taking that into consideration, we definitely have the ability to up the wages considerably.

        • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:01 pm

          Is it a non profit????????


          • Freund or Foe 09/06/2018 at 1:02 pm

            No. Yes. What was the question?

            • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:05 pm

              Er what was it again? Oh Yes is it Non Profit? or do they supposed to exhaust all cash?

              • Freund or Foe 09/06/2018 at 1:08 pm

                The 48% wages to revenue ratio isn’t based on making no profit. This was our ratio in June 16, and we still made 38.5mil profit before tax.

                • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:09 pm

                  But if we spend 38.5 million on a player then what?

                  • Freund or Foe 09/06/2018 at 1:11 pm

                    Then we wouldn’t have made any profit, obvs. I’m not sure what your point is.

                    • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:19 pm

                      apart from Levys wages do they take out profit?

                    • Freund or Foe 09/06/2018 at 1:22 pm

                      No, Levy’s wages are included in the overall wage bill.
                      If Levy, Joe or any other shareholder took dividends, this would be taken after the profit. But they haven’t taken any yet in their 17 year tenure.

                    • Flat Oeuf 09/06/2018 at 1:23 pm

                      WHAT ABOUT THE DUFFEL BAGS?

                    • UnkleTaff 09/06/2018 at 1:23 pm

                      *Cough* Duffel bag *cough*.

                    • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:27 pm

                      I am just checking. People need to be accountable. I am. But I cant count

                  • UnkleTaff 09/06/2018 at 1:11 pm

                    I’m sure I read somewhere that player purchase prices are amortised over the length of their contract. That way we don’t take the hit all at once.

                    • Freund or Foe 09/06/2018 at 1:11 pm


                    • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:13 pm

                      So those figures are in there somewhere?

  • UnkleTaff 09/06/2018 at 1:01 pm

    I think you’re way off the mark with this one, FoFfy. The proverbial goose is being fattened for Christmas: Kane WILL be sold after the World Cup.

    Nothing else makes any sense.

    • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:01 pm

      Cheek in tongue obviously

      • UnkleTaff 09/06/2018 at 1:03 pm

        Ah, but whose cheek and, more importantly, whose tongue?

        • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:05 pm

          You dirty bastar*

  • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:08 pm

    Team sheet or Balance sheet this is the question. I see you are all playing the Levy game as opposed to the Poch game this a.m.
    When all is lost,check the books.

    • Freund or Foe 09/06/2018 at 1:10 pm

      There isn’t a Levy game and a Poch game. There’s a Tottenham game.

      • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:11 pm

        I love that FoF its inspirational. Very spiritual stuff. Using Tottenham as a Mecca. Do you have a white suit?

      • UnkleTaff 09/06/2018 at 1:12 pm

        Nailed it.

    • Freund or Foe 09/06/2018 at 1:12 pm

      And what is lost?

      • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:15 pm

        Not lost per se, just forgotten.
        Im really not savvy in high finance.Im more a numbers bloke. Buy for $1 sell for $6. In the end it all should work out.

  • Flat Oeuf 09/06/2018 at 1:15 pm

    I’ve just fiddler with your format. Sorry if it causes you all trouble. I’m *trying* to improve things…particularly the fackin’ necessity to keep entering details.

    Is anyone/everyone still having that problem?

    • UnkleTaff 09/06/2018 at 1:16 pm

      Everything’s fine and dandy here in Windows 7 land.

      • Flat Oeuf 09/06/2018 at 1:18 pm

        Well, glad to hear it

        • Caspurs 09/06/2018 at 1:32 pm

          All the animals are where they should be in Safari land. 👍

          • Flat Oeuf 09/06/2018 at 1:33 pm

            Goody gumdrops

            • Caspurs 09/06/2018 at 1:46 pm

              Is the issue with peeps using multiple devices? I only use my laptop.

              • UnkleTaff 09/06/2018 at 1:49 pm

                Just the one device for me, too.

                • Flat Oeuf 09/06/2018 at 2:22 pm

                  Might well be that, then. I’ve got MULTIPLE DEVICES, LOADSA DEVICES.

    • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:18 pm

      I dont do details just philosophy

      • Flat Oeuf 09/06/2018 at 1:20 pm

        Sounds suspiciously like a System. Where’s the floeuw?

        • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:23 pm

          Think of a tap.

        • Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:26 pm

          Its like water really. What you need to do is take away all the obstacles and the water should flow perfectly. Its how I live my life.
          I went to Niagara Falls last week

    • SpurAndy 🍒 🥧 09/06/2018 at 1:39 pm

      All good in android land.

  • Flat Oeuf 09/06/2018 at 1:22 pm

    Don’t mind me.

  • Anonymous 09/06/2018 at 1:25 pm

    Freund or Foe
    What’s your Twitter name, Spoz?
    I’ve barely done any tweeting, so would be good to follow a fellow Oeufer.

    Take a look at DIY Army 🔨⚽ 🔧 (@DIY_Army):

    I’m this bozo

    • Superspoz 🏆 09/06/2018 at 1:27 pm

      Must remember to put in details

    • Freund or Foe 09/06/2018 at 1:28 pm

      Thanks dude, but I already had a tip off and followed.
      You are being watched.

      • Superspoz 🏆 09/06/2018 at 1:30 pm

        Not after 11pm please. For your own sanity

  • McG ⚽⚽ 09/06/2018 at 1:27 pm

    Freund or Foe 09/06/2018 at 1:08 pm

    The 48% wages to revenue ratio isn’t based on making no profit. This was our ratio in June 16, and we still made 38.5mil profit before tax.

    Ronwol1960-61🕎⚽🎷🎥 09/06/2018 at 1:09 pm

    But if we spend 38.5 million on a player then what?
    Freund or Foe 09/06/2018 at 1:11 pm

    Then we wouldn’t have made any profit, obvs. I’m not sure what your point is.
    If we bought a player for 38.5 mil, he’d be capitalised and written down over the duration of his usable life, starting from date of purchase. That wouldn’t affect the profit as that’s an asset purchase. Just putting it out there..

    • Freund or Foe 09/06/2018 at 1:29 pm

      Nice G.

      • Caspurs 09/06/2018 at 1:35 pm


  • McG ⚽⚽ 09/06/2018 at 1:38 pm


    • Superspoz 🏆 09/06/2018 at 1:40 pm

      Fakinel, that wallpaper is terrible

      • Freund or Foe 09/06/2018 at 1:42 pm

        I’d never mix that dress with that lipstick.

        • Superspoz 🏆 09/06/2018 at 1:43 pm

          Would only work if the belt buckle matched.

        • Caspurs 09/06/2018 at 1:44 pm

          Jon would/ does… 💋

          • Jonjo O'Spurvy 09/06/2018 at 2:23 pm

            … only when I’m out on my Space Hopper.

        • Jonjo O'Spurvy 09/06/2018 at 2:21 pm


          • Anonymous 09/06/2018 at 2:23 pm

            Yep, wouldn’t combine them either.

            • Flat Oeuf 09/06/2018 at 2:36 pm

              Would you combine harvester?

              • Jonjo O'Spurvy 09/06/2018 at 2:53 pm

                With what? Toby Carvey?

                • Jonjo O'Spurvy 09/06/2018 at 2:54 pm

                  Harvey Carvey.

                • Flat Oeuf 09/06/2018 at 3:06 pm

                  Mine’s a bitter in a Toby Jug, twice.

      • Caspurs 09/06/2018 at 1:42 pm

        Eh! Months of research, finally decide on the pattern and that’s the response, fakky armchair design guru’s, pfft!

        • Superspoz 🏆 09/06/2018 at 1:44 pm

          Just looking out for you Cas. It’s for the best

  • Superspoz 🏆 09/06/2018 at 1:41 pm

    Wahey, the flat oeuiaeueaf (did I spell that right) Twitter community is growing.

  • Superspoz 🏆 09/06/2018 at 1:51 pm

    Hey flatster why don’t you attach the website to your Twitter profile,for a bit more traffic and all that.

    • Flat Oeuf 09/06/2018 at 2:35 pm

      Fanks, Spoz, let me look into that.

      • Fat Bertha 09/06/2018 at 3:22 pm

        Yeah, Spoz, let him.

        • Flat Oeuf 09/06/2018 at 5:11 pm

          Your face doesn’t match your feet

  • Flat Oeuf 09/06/2018 at 3:03 pm

    The No 8 shirt is currently available.

    What I wouldn’t give to see someone like this wearing it:

    • Superspoz 🏆 09/06/2018 at 3:26 pm

      Luv that holsten/Hummel kit

  • Freund or Foe 09/06/2018 at 3:24 pm

    This is rather funny….

    So apparently Isco has something against Poch. I’ve read a translated version of the original source, it’s quite hard to follow, but there is a suggestion of an actual quote:

    “If he comes, I’m leaving,” says the Spanish international when asked about his opinion about Poche.

    • ronwol196061 09/06/2018 at 5:15 pm

      Isco doesnt want to train like the wind

      • foeorfreund 09/06/2018 at 5:55 pm


      • McG ⚽⚽ 09/06/2018 at 6:37 pm

        Sounds like he’ll be gone with the wind…

  • foeorfreund 09/06/2018 at 7:25 pm

    Just to make it clear, the suggested £49.5mil figure above is for wages only.
    Increased operating costs and repayment of bank loans is taken out of the 52% of revenue that isn’t allocated to wages.

    • Fat Bertha 09/06/2018 at 7:28 pm

      I was just going to say that.

      • Fat Bertha 09/06/2018 at 7:29 pm

        So was I.

        • Fat Bertha 09/06/2018 at 7:30 pm


          • 61SpursNut 09/06/2018 at 7:34 pm

            I already did but I had my microphone off.

            • Fat Bertha 09/06/2018 at 9:10 pm


      • foeorfreund 09/06/2018 at 7:33 pm

        I sensed that, and jumped on in ahead of you. Glory hunter.

    • Anonymous 09/06/2018 at 8:49 pm

      I also knew that

      • McG ⚽⚽ 09/06/2018 at 8:55 pm


        • Superspoz 🏆 09/06/2018 at 9:06 pm

          Yeah, who are you ya fakin eejit

          • Anonymous 09/06/2018 at 9:19 pm

            How do get Gyphys on from your phone Guys
            The link slis different on the computer

            • McG ⚽⚽ 09/06/2018 at 9:19 pm

            • Superspoz 🏆 09/06/2018 at 9:29 pm

              I’ve only just figured it out. It’s all gone tits up since me Samsung decided to upgrade itself. I click on the webpage of the gif then on the gif itself and then copy and paste. Don’t always work.

              • Superspoz 🏆 09/06/2018 at 9:33 pm

                Hang on.

                • Fat Bertha 09/06/2018 at 9:42 pm
                • Fat Bertha 09/06/2018 at 9:48 pm
                • Anonymous 09/06/2018 at 9:54 pm
                  • Fat Bertha 09/06/2018 at 9:59 pm


                  • Superspoz 🏆 09/06/2018 at 10:14 pm

                    Keith Moon was nearing the end when he did that, you need to find the isolated drums for “bargain ” or “Happy Jack ” for Moon in his prime.

                    • McG ⚽⚽ 09/06/2018 at 10:23 pm

                      Why were those comments deleted?

                    • Fat Bertha 09/06/2018 at 10:36 pm

                      I deleted them. Wrong links. Censoring myself.

                    • Fat Bertha 09/06/2018 at 10:37 pm

                      More to point, what was the song I posted a link to?

                    • McG ⚽⚽ 09/06/2018 at 10:49 pm

                      Fair do’s! Thought it strange on here was all..

              • Ronwol196061 09/06/2018 at 10:31 pm

                That last Samsung update is there to destroy our phones
                they wsnt new sales I think

              • Ronwol196061 09/06/2018 at 10:32 pm

                I cant do that Spoz it doesnt give me the choice!

  • Caspurs 09/06/2018 at 8:08 pm

    Yay, sofa fixed with a masterly piece of bodgery.

    • SpurAndy 🍒 🥧 09/06/2018 at 8:34 pm

      Gaffer tape?

      • Superspoz 🏆 09/06/2018 at 8:50 pm

        ..and blue tac?

        • McG ⚽⚽ 09/06/2018 at 8:54 pm

          Pritt stick, job done.

    • Anonymous 09/06/2018 at 11:49 pm

      My toilet cistern innards are held in with a piece of folded cardboard.

      • Fat Bertha 10/06/2018 at 12:24 am

        Oh, yeah? Says who?

        • Caspurs 10/06/2018 at 12:25 am

          Dr Who?

  • Flat Oeuf 10/06/2018 at 8:19 am
  • Come and have a go if you think you’re hard enoeuf

    Threaded commenting powered by interconnect/it code.