crux
Andy Booth Terrier
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Posts: 3,850
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Post by crux on Feb 21, 2021 16:00:26 GMT 1
The 100million loan deal from Government, which 14 championship clubs are desperate for had been put on hold as Treasury demand that clubs cease paying win/ goal/ contract increases and also put forward schemes for PAYE deferment payments. If this isn’t resolved upto 14 championship clubs could be looking at administration by the end of March. Unfortunately they *can't* do that can they? Don't pay your football debts and you lose your football league share. Having read a bit more about this, it is a 'standard' treasury loan and has standard conditions covering pay and bonus restraints whilst in receipt of the loan. As it should do, because it is taxpayer's money. It seems the EFL have misunderstood the terms of the loan and thought the restraints only related to executives and not the players. So an EFL cock up and nothing to do with the treasury or government changing the terms.
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Post by softboy on Feb 21, 2021 19:49:38 GMT 1
Thats my understanding as well. Seems the EFL didn’t read the terms and conditions in enough detail. Reading between the lines it seems quite a few clubs have been using PAYE and VAT monies to pay off sacked managers, pay wages of players signed in this transfer window etc so absolutely right taxpayers should not foot the bill.
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Post by Toxic Ted on Mar 30, 2021 9:37:35 GMT 1
This story immediately reminded me of our time in the Premier League:
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Post by Bassingham Terrier on Apr 1, 2021 15:24:02 GMT 1
I wonder... If they go up will Benham take out his £103m...? www.bbc.co.uk/sport/football/56601654Little old Brentford, the team who always do things on the small size; buy cheap, sell high. £103m... And we thought that Hoyle had ploughed a lot into Town...
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Post by allan 1958 (OAF-WROY)(SSLFF) on Apr 1, 2021 17:12:17 GMT 1
I wonder... If they go up will Benham take out his £103m...? www.bbc.co.uk/sport/football/56601654Little old Brentford, the team who always do things on the small size; buy cheap, sell high. £103m... And we thought that Hoyle had ploughed a lot into Town... May be if they have a life threatening illness 🤔😁
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Post by Toxic Ted on Apr 1, 2021 19:43:50 GMT 1
Brentford wages currently at 186% of annual revenue.
Madness.
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Deleted
Deleted Member
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Post by Deleted on Apr 2, 2021 15:28:33 GMT 1
Brentford wages currently at 186% of annual revenue. Madness. Doesn’t really matter when they have owner prepared to fund the gap and excellent transfer market performance (not included in the annual revenue), with transfer profit of around £100m over last 4 or 5 seasons. 🤷♂️ It’s clubs like Reading who have the huge wage to revenue but not backed by good transfer profits, along with “interesting” ownership that are the ones who’ll be look over their shoulders.
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Post by impact on Apr 4, 2021 12:33:19 GMT 1
The cost of promotion.
78m on wages, 46m on transfers. Our promotion really was a miracle.
I wonder what the average for promoted teams is?
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Post by dewsburyterrier on Apr 4, 2021 13:22:38 GMT 1
It looks like they exceeded the permitted £39m loss over 3 seasons by quite a bit ( the previous season being a loss too).
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Post by impact on Apr 4, 2021 13:37:54 GMT 1
It looks like they exceeded the permitted £39m loss over 3 seasons by quite a bit ( the previous season being a loss too). I wondered that but seemingly covid would have saved them had they not got promoted
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Post by Frankiesleftpeg on Apr 4, 2021 14:00:40 GMT 1
I notice that Town haven't published their 2019/20 accounts yet, which in common with a lot of other clubs, they'd normally do in March. Perhaps we're taking advantage of the permitted three month covid extension granted by the Government.
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Post by tockyterrier on Apr 4, 2021 22:04:07 GMT 1
I notice that Town haven't published their 2019/20 accounts yet, which in common with a lot of other clubs, they'd normally do in March. Perhaps we're taking advantage of the permitted three month covid extension granted by the Government. I'm sure I read last year that this year the accounting period was being extended. I think it was so that periods will coincided with Pure Group's account period from then on. Could be wrong.
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Post by Frankiesleftpeg on Apr 4, 2021 22:25:16 GMT 1
I notice that Town haven't published their 2019/20 accounts yet, which in common with a lot of other clubs, they'd normally do in March. Perhaps we're taking advantage of the permitted three month covid extension granted by the Government. I'm sure I read last year that this year the accounting period was being extended. I think it was so that periods will coincided with Pure Group's account period from then on. Could be wrong. Because of Covid the Government are allowing companies an extra three months to publish their results if they wish, so the latest Town can publish is the end of June. Town's year end hasn't changed, but Phil's company Pure Sports Consultancy amended is financial year to align with Town's.
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Post by Mastercracker on Apr 9, 2021 9:37:30 GMT 1
Looking forward to us bucking the trend with this £12m wage bill
/photo/1
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Post by Floyds on Apr 9, 2021 12:35:01 GMT 1
With our dynamic DOF and recruitment team and their track record of quality signings, I'd say we'll be fine with the lowest budget in the Championship.
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Post by Colin the Caterpillar on Apr 9, 2021 13:21:44 GMT 1
But, but... weren’t we told that Leeds’ promotion was all about coaching and motivating a group of misfits? This information suggests that it was in fact merely the almost inevitable conclusion of chucking a load of money at it. Who’d have thunk it?
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Post by brighousebandbred on Apr 9, 2021 13:57:37 GMT 1
But, but... weren’t we told that Leeds’ promotion was all about coaching and motivating a group of misfits? This information suggests that it was in fact merely the almost inevitable conclusion of chucking a load of money at it. Who’d have thunk it? Sort of puts into perspective how difficult it is and will be for cc. We are asking for Bielsa football with no money .
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Post by Mastercracker on Apr 9, 2021 14:16:00 GMT 1
But, but... weren’t we told that Leeds’ promotion was all about coaching and motivating a group of misfits? This information suggests that it was in fact merely the almost inevitable conclusion of chucking a load of money at it. Who’d have thunk it? Championship wage bill higher than our Premier League one.
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Post by Toxic Ted on Apr 14, 2021 10:38:30 GMT 1
Reckon they’ll give us our £4m back?
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Post by Toxic Ted on Apr 14, 2021 19:42:16 GMT 1
I am intrigued as to whether any other club has ever paid off as much debt as Town are doing.
Most club debts are to owners who write them off in shares (Stoke, Derby, Wednesday, Chelsea, Man City etc)
Some are settled by external revenue (club sales) where owners are paid off by a third party (as Ken Davy was).
Some are written off by administration when clubs simply run out of money (Bradford, Portsmouth etc)
Is their a precedent for what we are trying to do? I can’t think of a single club who has used £60m of its revenue to pay off a former owner.
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ambryboy
Jimmy Glazzard Terrier
Posts: 4,612
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Post by ambryboy on Apr 14, 2021 20:13:16 GMT 1
I am intrigued as to whether any other club has ever paid off as much debt as Town are doing. Most club debts are to owners who write them off in shares (Stoke, Derby, Wednesday, Chelsea, Man City etc) Some are settled by external revenue (club sales) where owners are paid off by a third party (as Ken Davy was). Some are written off by administration when clubs simply run out of money (Bradford, Portsmouth etc) Is their a precedent for what we are trying to do? I can’t think of a single club who has used £60m of its revenue to pay off a former owner. Maybe other clubs' Chairmen haven't suffered life-threatening illnesses that made them realise they love their money more than their football team.
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Post by Toxic Ted on Apr 14, 2021 20:28:22 GMT 1
FSG have apparently taken £10m out of Liverpool in their decade of owning the club.
In 2019 the Glazers received £23m in dividends from Man Utd.
Hoyle wanted his £50m back within 2 years...and we wonder why we’re on our arse.
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Post by Detective Boyle on Apr 14, 2021 21:35:42 GMT 1
FSG have apparently taken £10m out of Liverpool in their decade of owning the club. In 2019 the Glazers received £23m in dividends from Man Utd. Hoyle wanted his £50m back within 2 years...and we wonder why we’re on our arse. Those pesky rich foreign owners...
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Post by impact on Apr 14, 2021 21:47:55 GMT 1
FSG have apparently taken £10m out of Liverpool in their decade of owning the club. In 2019 the Glazers received £23m in dividends from Man Utd. Hoyle wanted his £50m back within 2 years...and we wonder why we’re on our arse. He wanted 35m back in 3 years to start with. And he took nothing out of the club when he owned it so comparing to FSG is totally irrelevant. I sure as hell would not want my club so riddled with debt like Utd who have paid over 800m in interest since the Glazers took over. And then there are numerous club owners who charge interest on the money they have put in.
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Post by dbterrier32 on Apr 15, 2021 11:54:24 GMT 1
I am intrigued as to whether any other club has ever paid off as much debt as Town are doing. Most club debts are to owners who write them off in shares (Stoke, Derby, Wednesday, Chelsea, Man City etc) Some are settled by external revenue (club sales) where owners are paid off by a third party (as Ken Davy was). Some are written off by administration when clubs simply run out of money (Bradford, Portsmouth etc) Is their a precedent for what we are trying to do? I can’t think of a single club who has used £60m of its revenue to pay off a former owner. Maybe other clubs' Chairmen haven't suffered life-threatening illnesses that made them realise they love their money more than their football team. Hi Dean
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ambryboy
Jimmy Glazzard Terrier
Posts: 4,612
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Post by ambryboy on Apr 15, 2021 14:46:17 GMT 1
Maybe other clubs' Chairmen haven't suffered life-threatening illnesses that made them realise they love their money more than their football team. Hi Dean Whoosh! It was meant to be sarcasm but hey-ho.
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Post by pilks123 on Apr 15, 2021 21:39:31 GMT 1
In other news, the reading accounts for 19/20 were published this week. I’m no accountant but reads like they’re on their arse waiting for an FFP deduction. 43m operating loss, and that’s before the shitshow that is Covid had really taken effect. More on Kieran’s twitter link below Reading accs
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Post by tockyterrier on Apr 17, 2021 9:39:05 GMT 1
FSG have apparently taken £10m out of Liverpool in their decade of owning the club. In 2019 the Glazers received £23m in dividends from Man Utd. Hoyle wanted his £50m back within 2 years...and we wonder why we’re on our arse. Ahhh, the Glazers, the ones who borrowed money against the clubs future income in order to buy it without using their own money? Owners who turn their debt in to shares before selling, get their money back from the sale of the club. So no different really. If that had happened, PH would have less money in his pocket, and the club would still be operating at loss incurring a new debt.
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Post by Pozza on Apr 18, 2021 7:45:08 GMT 1
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Post by tockyterrier on Apr 18, 2021 20:46:30 GMT 1
Yep. Interesting piece on the price of football pod about it. As long as Burnley are in the prem, their model will probably work paying a few million every year on interest payments. But if they go down......
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