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Topic Originator: jake89
Date: Mon 12 Apr 20:53
£3m loss. Sure it was much the same last season. Hope our finances are a damn sight better!
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Topic Originator: OzPar
Date: Mon 12 Apr 22:22
That degree of loss genuinely makes you wonder if promotion is worth the effort. Aren`t the streets lined with gold in the premier???
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Topic Originator: ParfectXI
Date: Mon 12 Apr 22:40
OzPar wrote:
> That degree of loss genuinely makes you wonder if promotion is
> worth the effort. Aren`t the streets lined with gold in the
> premier???
>
>
With no fans in and they bought just about everyone they saw at the start of the season it’s no wonder they are in debt. Also this is before prize money is given out.
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Topic Originator: OldInnPar
Date: Tue 13 Apr 07:10
Quote:
ParfectXI, Mon 12 Apr 22:40
OzPar wrote:
> That degree of loss genuinely makes you wonder if promotion is
> worth the effort. Aren`t the streets lined with gold in the
> premier???
>
With no fans in and they bought just about everyone they saw at the start of the season it’s no wonder they are in debt. Also this is before prize money is given out.
It includes prize money in full for winning championship. An increase of 18% on previous year
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Topic Originator: elvis_lives
Date: Tue 13 Apr 10:57
Quote:
OzPar, Mon 12 Apr 22:22
That degree of loss genuinely makes you wonder if promotion is worth the effort. Aren`t the streets lined with gold in the premier???
It's last year's numbers from the championship.
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Topic Originator: OzPar
Date: Tue 13 Apr 12:28
If those figures are from winning the Championship, then that is an abomination.
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Topic Originator: londonparsfan
Date: Tue 13 Apr 12:41
It was ott but their spending has ultimately worked as it took them out of the Championship and consolidated them in the top flight.
As long as he has a plan to balance the books long term its his own money he's been putting in. Apparently they started cost cutting last year so the next annual accounts will be interesting.
Shows how difficult it is for clubs that aren't exceeding their revenue when the clubs that already have a bigger revenue can then run at a loss.
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Topic Originator: da_no_1
Date: Tue 13 Apr 12:49
It would only be an "abomination" if the gamble didn`t work.
"Some days will stay a 1000 years, some pass like the flash of a spark"
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Topic Originator: OzPar
Date: Tue 13 Apr 12:51
Absolutely agree LPF. It is a vicious circle. This is such a difficult league to win without throwing a shedful of money at it.
It will be interesting to see how much money Hearts threw at the title this year. I`ll bet that it was more than United.
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Topic Originator: jake89
Date: Tue 13 Apr 12:56
This is the issue - Team 1 "buys" the league by spending money they don't have. Team 2 and 3 do the same and Team 3 gets promoted but Team 2 doesn't and has to make big cutbacks for years as the players were on 2-3 year contracts. Team 1 is then relegated and suffers the same cutbacks.
Sometimes you have to spend to increase your revenue, but that only works if you spend on the right things.
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Topic Originator: TAFKA_Super_Petrie
Date: Tue 13 Apr 13:06
They had a big squad last year so not massively surprised at those numbers.
Looks like it could be deja vu from last time round, they were paying way over the odds (as we and so many others were) in wages to a lot of guys who were passed their best. McInness, Charlie Miller, Derek Lilley etc....
---------------------------------------------------------------
"People always talk about Ronaldinho and magic, but I didn't see him today. I saw Henrik Larsson; that's where the magic was."
Post Edited (Tue 13 Apr 13:10)
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Topic Originator: yorkiepar
Date: Tue 13 Apr 13:14
Throwing money at a football club has never guaranteed success - unless you’re talking about utterly obscene amounts, such as at Man City, and even then .....
In recent times Patrick Thistle don’t seem to have shown much improvement with Colin Weir’s philanthropy and despite Hearts having James Anderson’s millions to prop them up I’m not at all certain it will ensure long term survival in the Scottish Premiership. At our level a team needs to be built, not bought.
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Topic Originator: londonparsfan
Date: Tue 13 Apr 13:25
Their previous accounts had them at a wage to turnover ratio of 133% in the year ending in 2019 but I think they were asked to take a pay cut and they will obviously have more revenue from top flight football but will be interesting to see what that ratio is in the accounts just released. Don't appear to be on the Govs website yet.
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Topic Originator: Indiapar
Date: Tue 13 Apr 15:27
I appreciate the Covid issue on club finances but this is a transient issue. The reality is for many clubs the financial cost of operating, and paying salaries. There is also a cost in terms of pushing for promotion, demotion etc. The measure of success for us is to balance the books and for the team to play well each season and build on that each year.
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Topic Originator: londonparsfan
Date: Tue 13 Apr 18:29
Hopefully finding a few Nisbets along the way too!
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