If player salaries were £20M in June, then on a squad of say 40, that's an average of £500K each or £10K per week, so some of the supposed 'OUTRAGEOUS' estimates on here couldn't have been far off the mark. I think they were pulling the wool over your eyes with that spreadsheet, Mr Irving, I'm afraid.
Oh, and just to really cheer us all up, these figures of course don't include the ££££ that Pardew the **** has just walked off with.
[cite]Posted By: Weegie Addick[/cite]If player salaries were £20M in June, then on a squad of say 40, that's anaverage of £500K each or £10K per week, so some of the supposed 'OUTRAGEOUS' estimates on here couldn't have been far off the mark. I think they were pulling the wool over your eyes with that spreadsheet, Mr Irving, I'm afraid.
Oh, and just to really cheer us all up, these figures of course don't include the ££££ that Pardew the **** has just walked off with.
Was just thinking about that myself. Think the squad is closer to 35 full time players now.
If Christensen was on £5k a week, what are other young players on? What sort of wages are we spending a week on players like Aswad Thomas who looks like he'll never break into the first team?
We let some big earners go in Faye, Marcus Bent, Bougherra, Iwelumo, Jerome Thomas, Gibbs and Thatcher. McCarthy and Powell must have been on decent wages as well. We also let players like Sankofa, Walker, Smith and Monteiro go.
We might also be paying some of the wages for the four, soon to be seven ASEC players.
What sort of wages do staff get, Kinsella, Chapple etc?
We are where we are. It's the future that frightens me. Our revenue will now lose the parachute payment so how much futher will costs have to fall to ensure we remain solvent? It's one hell of a cost cutting exercise that will be needed and a worse one if we go down.
A The directors continue to pump money in, but I don't think their pockets are deep enough, even if they were willing B The club receives substantial new investment from ???? C The word we aren't allowed to mention for fear of being accused of scaremongering"
Still fear that (c) is not totally beyond the realms of possiblity. The main argument against seemed to be that the directors would take a personal hit, so why would they do it.
Well coincidentally, my accountant rang today to ask me to send him a cheque for my Inland Revenue payment, due on Jan 31. He's a QPR fan but I asked him in passing about the principles of a club going into administation.
He said that although he ddn't know the background, in principle if it was organised properly, the directors should be able to get their investment back (a la Ken Bates?) Didn't ask chapter and verse on how that would work as he probably charges me for every minute he's on the phone, but he did volunteer that any loss they did sustain could then be offset/recovered against CGT and/or income tax due on their other business interests.
It's all a bit beyond me, which is why I leave the home finances to Mrs W and employ a very expensive accountant on the business side, so I don't have to worry my pretty little head. But frankly when it comes to CAFC, my ugly old head is worried because unless we pull-off some sort of miracle over the next 20 games, our main income streams look like being dramatically diminished next season...
Certainly seeing this is black and white is worrying especially with the longer term trend, and if god forbid we do go down. How does this compare with other clubs of similair size? Certainly explains the loan player situation
Very worrying and i speak as someone who worked at a failing international development charity. THe net assets are 9.4m, therefore this year with losses at the same level makes us bankrupt
[cite]Posted By: WSS[/cite]I'd be really interested to see what the annual reports of all of the other clubs in this league see and report.
I am very afraid that few will be as bad as ours - after eight seasons in the Prem we had the cost base and style of player contracts to match. Most other clubs in the CCC are running on CCC budgets, and the parachute payments are much greater now too for teams that do come down. Whilst many will be making a loss, it is unlikley to be of this magnitude.
[cite]Posted By: kimbo[/cite]Very worrying and i speak as someone who worked at a failing international development charity. THe net assets are 9.4m, therefore this year with losses at the same level makes us bankrupt
I deliberately hadn't read the detail for fear of further depression (and because I don;t understand these things), but you've done it for me now, kimbo.
F-Blocker said: "Remember those figures are now 6 months old - some of that will have changed if you were to see the 12 months up till 31st December..."
Yeah, you'd have to add in Pardew's robbery. Sorry, contractual pay-off...
[cite]Posted By: WSS[/cite]I'd be really interested to see what the annual reports of all of the other clubs in this league see and report.
I am very afraid that few will be as bad as ours - after eight seasons in the Prem we had the cost base and style of player contracts to match. Most other clubs in the CCC are running on CCC budgets, and the parachute payments are much greater now too for teams that do come down. Whilst many will be making a loss, it is unlikley to be of this magnitude.
True - strangely our success in the Premiership for so long is the thing that is hurting us. Here is a link to Watford's report who made a very slight profit (they also took out a strategic review):
I seem to recall a quote from Karen Brady last weekend in which she stated that she expected to see 2-3 big name Championship clubs in administration by Easter.
Does she have any axe to grind? Other than us selling them M Bent I guess not.
Did she include us in the her 2-3?. If she didn't and has subesquently read the report I think her mind may have been changed.
I'm sure I've seen clubs in the past pay part of a players wages even when they've moved permanently. I've got a feeling Leeds did with Robbie Fowler when they sold him.
worrying ? yes .any business doing badly that lost £11.5 in the previous working year should be worried. However in the last few months we have continued to reduce the over heads--remember the rumours we had the fire sale was to raise £5million to reduce imidiate debt. We have got rid of at least 3 high wage earners since the end of this report.
some one said we are bankrupt when income is less than outgoings but not shown on this report (it was when we were in the AIM)is the value of the club including ALL its assets. The Valley --training ground and (dont laugh) the players are the assets worth £20 million ?
To be honest, not that much (please others correct me if i'm wrong).
We lose the parachute this summer, so the tv income will be little different if we are in this league or the one below. The emphasis will then almost fully be on our own generated revenues. What the major impact will be, is the situation that ST sales, given the club a hit in capital during the summer and a better chance to budget adequately, are likely to be considerably lower. That is what is going to have the real impact i believe.
The club have been aware of the issues for a while now - I was told they needed to save £5m this year and next year IF we were in the Championship, it was another £3m, WHEN we go down, I guess we'll be cutting our cloth A LOT
[cite]Posted By: supaclive[/cite]The club have been aware of the issues for a while now - I was told they needed to save £5m this year and next year IF we were in the Championship, it was another £3m, WHEN we go down, I guess we'll be cutting our cloth A LOT
Can imagine our team next season now, if we're in League One. A lot of our youth players, and cheap free transfers, a mixture of experienced players and young players. We'll be hoping the Ivory Coast players can get work permits as they are our best chance of getting better players in.
Comments
Oh, and just to really cheer us all up, these figures of course don't include the ££££ that Pardew the **** has just walked off with.
Was just thinking about that myself. Think the squad is closer to 35 full time players now.
If Christensen was on £5k a week, what are other young players on? What sort of wages are we spending a week on players like Aswad Thomas who looks like he'll never break into the first team?
We let some big earners go in Faye, Marcus Bent, Bougherra, Iwelumo, Jerome Thomas, Gibbs and Thatcher. McCarthy and Powell must have been on decent wages as well. We also let players like Sankofa, Walker, Smith and Monteiro go.
We might also be paying some of the wages for the four, soon to be seven ASEC players.
What sort of wages do staff get, Kinsella, Chapple etc?
'08 = -11.5M, '07 = -9.9M, '06=-8.1M, '05=1.4M , '04=11.1M
When you think that the sell of Bent was in the same year as we lost £9.9M, things have been going pear shaped for a while.
A The directors continue to pump money in, but I don't think their pockets are deep enough, even if they were willing
B The club receives substantial new investment from ????
C The word we aren't allowed to mention for fear of being accused of scaremongering"
Still fear that (c) is not totally beyond the realms of possiblity. The main argument against seemed to be that the directors would take a personal hit, so why would they do it.
Well coincidentally, my accountant rang today to ask me to send him a cheque for my Inland Revenue payment, due on Jan 31. He's a QPR fan but I asked him in passing about the principles of a club going into administation.
He said that although he ddn't know the background, in principle if it was organised properly, the directors should be able to get their investment back (a la Ken Bates?) Didn't ask chapter and verse on how that would work as he probably charges me for every minute he's on the phone, but he did volunteer that any loss they did sustain could then be offset/recovered against CGT and/or income tax due on their other business interests.
It's all a bit beyond me, which is why I leave the home finances to Mrs W and employ a very expensive accountant on the business side, so I don't have to worry my pretty little head. But frankly when it comes to CAFC, my ugly old head is worried because unless we pull-off some sort of miracle over the next 20 games, our main income streams look like being dramatically diminished next season...
Certainly explains the loan player situation
I am very afraid that few will be as bad as ours - after eight seasons in the Prem we had the cost base and style of player contracts to match. Most other clubs in the CCC are running on CCC budgets, and the parachute payments are much greater now too for teams that do come down. Whilst many will be making a loss, it is unlikley to be of this magnitude.
I deliberately hadn't read the detail for fear of further depression (and because I don;t understand these things), but you've done it for me now, kimbo.
Where's the whisky bottle?
Yeah, you'd have to add in Pardew's robbery. Sorry, contractual pay-off...
http://www.watfordobserver.co.uk/sport/nnualeport/3858084.Chairman_s_statement_to_Watford_s_annual_accounts_2007_08/
Does she have any axe to grind? Other than us selling them M Bent I guess not.
Did she include us in the her 2-3?. If she didn't and has subesquently read the report I think her mind may have been changed.
Scary scary stuff.
Charlton are one big pothole at the moment.
Loved that.
The more i see and hear of Mr Chapple the more i feel he is wasted with us.
He's only on loan? Checking the article from when he moved, it said they paid an undisclosed fee.
See here
I'm sure I've seen clubs in the past pay part of a players wages even when they've moved permanently. I've got a feeling Leeds did with Robbie Fowler when they sold him.
some one said we are bankrupt when income is less than outgoings but not shown on this report (it was when we were in the AIM)is the value of the club including ALL its assets. The Valley --training ground and (dont laugh) the players are the assets worth £20 million ?
God knows what happens when we go down !
To be honest, not that much (please others correct me if i'm wrong).
We lose the parachute this summer, so the tv income will be little different if we are in this league or the one below. The emphasis will then almost fully be on our own generated revenues. What the major impact will be, is the situation that ST sales, given the club a hit in capital during the summer and a better chance to budget adequately, are likely to be considerably lower. That is what is going to have the real impact i believe.
Can imagine our team next season now, if we're in League One. A lot of our youth players, and cheap free transfers, a mixture of experienced players and young players. We'll be hoping the Ivory Coast players can get work permits as they are our best chance of getting better players in.