So from what Prague says a lot of scaremongering going on from people who don't know or see the full picture. This is not doing us a lot of favours just causing a lot of friction.
Wow, would ya look at this, people making baseless speculations citing no quotes or source and taking it as gospel? Colour me shocked! One ambiguous statement from the Chairman and we're going to be evicted from The Valley, sell everyone but the tea lady, Chris Powell is walking and the world is ending. This is embarrassing stuff lads, what's wrong with you? Get a grip, nobody and I mean nobody (who actually is not talking bollocks) has said we're going into administration, Wilson is a done deal so we're not bankrupt if we're buying players and this squad is already good enough to compete and compete well in the Championship next season, we don't need 10+ signings. GET.A.GRIP. Jesus Christ.
Welcome to the board MrBacon. Interesting first post I must say.
I'm slightly more optimistic today, because I've been told that the way the club is structured means that if the club went into admin the key players would lose what they've already put in. This means they have a strong financial incentive to sort things out in an orderly way. (it means I was wrong in assuming that Cash's money was only loans)
Let's see what happens in the next few days re players in. If the optimistic noises played to me today are justified we will see that happen. But even so we'd still want to know whether we have backers long term and who they are. But in the short term it looks like various people are trying hard to resolve the cash flow problems, which, it was pointed out to me, happen to clubs in summer a lot, because no revenue comes in and banks don't support them with overdrafts as they do normal businesses.
You would have thought that 10,000+ season tickets sale would ease us through the summer though?
Slater says ' I've heard about some gossip about the club, but for the last year and a half we have consistently said that we will operate the club on sound commercial principles,and I believe last seasons success vindicates our approach. Last summer Chris signed players to create a team that we believed would be able to compete in the Championship, so although he is looking to bring in a few new players , there is nothing like the urgency of last summer and we will not be rushed into decisions. We are not inactive in the transfer market, but the fact is that in League One we were a big fish in a small pond ,whereas in the Championship there are plenty of other big clubs vying for the players we are trying to sign'
is this the full statement or is there something else? Can't see what all the fuss is about. I skipped onto page 13 of this thread and people are talking about administration and backers pulling out etc etc. Have i missed something or are some peoples imaginations running riot?
Slater says ' I've heard about some gossip about the club, but for the last year and a half we have consistently said that we will operate the club on sound commercial principles,and I believe last seasons success vindicates our approach. Last summer Chris signed players to create a team that we believed would be able to compete in the Championship, so although he is looking to bring in a few new players , there is nothing like the urgency of last summer and we will not be rushed into decisions. We are not inactive in the transfer market, but the fact is that in League One we were a big fish in a small pond ,whereas in the Championship there are plenty of other big clubs vying for the players we are trying to sign'
is this the full statement or is there something else? Can't see what all the fuss is about. I skipped onto page 13 of this thread and people are talking about administration and backers pulling out etc etc. Have i missed something or are some peoples imaginations running riot?
Airman Brown has the answers.We're just guessing as to what they may be.
I do not have any insider info but I did see Chris Powell with his family having a meal last night in our local Prezzos. I did not ask him any questions about this thread as I had not read it at that time. He didn't seem like a manager of a club in crisis but who knows. But he was very happy to give my son his autograph and his family were far better mannered than mine.
prague , when you say key players - do you mean MS and TJ ( and who ever else ) or their backers ?
I cannot be completely sure but I believe the really key players are only Jiminez and Cash. I don't think Slater has much financial clout. Richard Murray is still there.
And that's enough from me for tonight, SoundAs is turning green, and not with envy...
Did Aiman have any more news coming on the short term horizon?
now this is important. think about it, dont just guess...did he have a calzone all for himself or was the whole family just sharing a plate of Bruschetta?
Two quality players by Wednesday, will bring a welcome short term sigh of relief, can't come quick enough to be honest as I think we are over analysing the situation now, I do know there are problems but I think we are getting a little paranoid . Sauce ketchup unbelievable tekkers.
This whole idea that we might not be a going concern at Championship level set me wondering why we shouldn't be. And, if it's not feasible for us to keep on an even keel in this league, how many other teams are struggling or can be expected to struggle? I thought I'd go a little bit of internet research so I Googled the phrase "championship finances". The first three results on this search each threw up information suggesting that this league is no bed of roses - for anyone.
The Scratching Shed This is a Leeds blog containing a very interesting article Championship Clubs’ Financial Results 2010-11. It's well worth having a look at the table they've produced. It's a couple of years old and so still contains the likes of QPR and Swansea, but it makes quite frightening reading. Figures were given for the operating profit/loss of 19 of the 24 clubs. Only one club made a profit (Leeds), the others had all suffered varying degrees of loss. The five that aren't listed included Portsmouth, Coventry and Doncaster; all since relegated and all in financial trouble. Five clubs had debts listed in excess of £50m. Four had wage bills over 100% of turnover.
The Telegraph An article from last march in which Portsmouth administrator Trevor Birch reports the following, “The Championship is a scene of carnage with clubs pursuing the Holy Grail of promotion, losing between £5million and £10million a year and a third of them spending over 100 per cent of turnover on wages".
Football Economy My third finding is managed by Charlton fan Wyn Grant and comes with a recommendation at the top of every page from a certain Ben Hayes. In an otherwise positive article about the steady growth of revenues in 2009 we still find this, "Operating losses for Championship increased from £75m to a record £102m despite increased parachute payments to relegated clubs, and the first solidarity payment to the rest of the Football League".
None of these make good reading for the championship. But they are positively glowing compared to this opening line I found in a BBC article dated 27th April, "The Football League has been facing the doomsday scenario of a number of its clubs going into liquidation unless some sort of financial regulation is imposed". The article goes on to say that without the self regulation they are putting into place concerning player wages, "in five years time the 72 clubs will owe some £2bn combined, double what they currently owe" .
So, what to make of it all? From what I can see, the whole thing is just one big bloody mess. Everyone's chasing their tail trying to get into the promised land of the Premiership running up huge debts by paying over the odds hoping that this is the season that they'll make it big. And of course, for every three that reach their dream of Premiership football 21 don't - and another three come tumbling down. The whole thing is crazy.
So were our new owners diligent enough? Well it didn't take 30 minutes to find that out. They must have known what a risky business it is. And are we the only ones in trouble? Almost certainly not. And in a sad way, that's out one saving grace in all this. No-ones got any money, everyone's got debts. Whatever is going on at our club, we aren't a special case. Where will it end? I really don't know, but it seems to me that something major has got to change not just at Charlton but right across all clubs.
Can someone in the know please square our apparent financial problems with reports that we are close to signing someone? I'm not suggesting either of those things aren't true - I just don't get it.
Comments
This is not doing us a lot of favours just causing a lot of friction.
Buttie's got a point
Airman Brown has the answers.We're just guessing as to what they may be.
Who is Buttle
now this is important. think about it, dont just guess...did he have a calzone all for himself or was the whole family just sharing a plate of Bruschetta?
Two quality players by Wednesday, will bring a welcome short term sigh of relief, can't come quick enough to be honest as I think we are over analysing the situation now, I do know there are problems but I think we are getting a little paranoid .
Sauce ketchup unbelievable tekkers.
The Scratching Shed This is a Leeds blog containing a very interesting article Championship Clubs’ Financial Results 2010-11. It's well worth having a look at the table they've produced. It's a couple of years old and so still contains the likes of QPR and Swansea, but it makes quite frightening reading. Figures were given for the operating profit/loss of 19 of the 24 clubs. Only one club made a profit (Leeds), the others had all suffered varying degrees of loss. The five that aren't listed included Portsmouth, Coventry and Doncaster; all since relegated and all in financial trouble. Five clubs had debts listed in excess of £50m. Four had wage bills over 100% of turnover.
http://www.thescratchingshed.com/2012/04/championship-clubs-financial-results-2010-11/
The Telegraph An article from last march in which Portsmouth administrator Trevor Birch reports the following, “The Championship is a scene of carnage with clubs pursuing the Holy Grail of promotion, losing between £5million and £10million a year and a third of them spending over 100 per cent of turnover on wages".
http://www.telegraph.co.uk/sport/football/teams/portsmouth/9174748/Portsmouth-administrator-Trevor-Birch-says-Championship-finances-are-carnage.html
Football Economy My third finding is managed by Charlton fan Wyn Grant and comes with a recommendation at the top of every page from a certain Ben Hayes. In an otherwise positive article about the steady growth of revenues in 2009 we still find this, "Operating losses for Championship increased from £75m to a record £102m despite increased parachute payments to relegated clubs, and the first solidarity payment to the rest of the Football League".
http://www.footballeconomy.com/content/championship-revenues-show-steady-growth
None of these make good reading for the championship. But they are positively glowing compared to this opening line I found in a BBC article dated 27th April, "The Football League has been facing the doomsday scenario of a number of its clubs going into liquidation unless some sort of financial regulation is imposed". The article goes on to say that without the self regulation they are putting into place concerning player wages, "in five years time the 72 clubs will owe some £2bn combined, double what they currently owe" .
http://www.bbc.co.uk/news/business-17843511
So, what to make of it all? From what I can see, the whole thing is just one big bloody mess. Everyone's chasing their tail trying to get into the promised land of the Premiership running up huge debts by paying over the odds hoping that this is the season that they'll make it big. And of course, for every three that reach their dream of Premiership football 21 don't - and another three come tumbling down. The whole thing is crazy.
So were our new owners diligent enough? Well it didn't take 30 minutes to find that out. They must have known what a risky business it is. And are we the only ones in trouble? Almost certainly not. And in a sad way, that's out one saving grace in all this. No-ones got any money, everyone's got debts. Whatever is going on at our club, we aren't a special case. Where will it end? I really don't know, but it seems to me that something major has got to change not just at Charlton but right across all clubs.
And of course, with those wages, we will never be able to sell him.
Can someone in the know please square our apparent financial problems with reports that we are close to signing someone? I'm not suggesting either of those things aren't true - I just don't get it.