Finances are going to be interesting.
This season we received £40m from TV rights this season.
Prem: http://t.co/CAcbmyrL
This has been taken directly from Deloitte, I can tell from the design and font used, so it 100% credible.
We will be getting £16m this year from the prem, although I've read that we will actually be recieving £19m because £3m extra, or a certain amount is given to FL clubs from the PL fund. Add into this, the FL live rights contract and that's an additional £3m.
So our TV 'revenue' will be around £22m next season.
We've already removed £12m I'm wages, and with the impending loss of NRC, I imagine that will increase to £14m, so the right steps being taken so early.
It's as if they planned for relegation... A whisper I have heard that my beat friend told me last night, is one of the guys at his cricket club knows a board member, and apparently, the board were split over whether they should try and re-build in the prem or re-build after relegation.
Either way alot of cost cutting has already been achieved. Hopefully we can avoid having to sign new players with Ricketts, Petrov and unfortunately Knight signing new deals. I cannot stand Knight he is awful, but our hands are tied I think due to Wheaters injury. If he takes a massively reduced deal, fair play to him, he would be ok in Championship....I hope.
We still have the Chelsea loan player deal in our back pocket, something agreed with the Cahill sale. It will be a young player, we could have expected Lukaku if we stayed up, but with Nixon(let's be fair he's always right) reckons that so far were only looking at a back up keeper and a centre back... Which a Rowbot suggests would be Hutchinson or Bruma.
Either way, the club have acted quickly and swiftly so far, Gartside just announced on Talksport the following also:
Wage Bill will be cut in half.
Coyle will be around for a very long time.
Debt is not a problem whatsoever.
A few bold statements indeed!
Finances
posted on 15/5/12
He displayed a but more range in his passing than Mark Davies though in the few performances I've seen.. Switching the play, chipping over through balls. Seems to have that in his locker, always felt Mark Davies has been missing that, or lacking the confidence to do it.
posted on 15/5/12
They are steps in the right direction, but any new signings coming in will cost money, I can't remember who it was on here, but somebody showed that even free transfers involve a bit of expenditure. Plus, they'll still be getting a decent wage and, I would guess, any players promoted to the first team squad will get a pay rise.
So, big steps in the right direction, but not quite the level of savings stated.
posted on 15/5/12
Either way, the club have acted quickly and swiftly so far, Gartside just announced on Talksport the following also:
Wage Bill will be cut in half.
Coyle will be around for a very long time.
Debt is not a problem whatsoever.
A few bold statements indeed!
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Bold, yes. True, well I hope so.
I do know the second statement (about Coyle) is absolutely true. So, maybe we can all accept that, not have any more Coyle-Out threads (as it just isn't going to happen), and accept he is here for the longer term. It is all about next season now.
HH - Good article, just hope what you have described turns out to be what happens
posted on 15/5/12
Listening to it now.
£15m overdraft with Barclays. That's the only money owed to the bank.
posted on 15/5/12
So our debt is £15m overdraft, which is a working overdraft we use throughout the season, which is normal.
The other £95m is 'equity', owed to ED, but not debt as its his debt. Apparently, he doesn't earn interest either. So it's £2m for him bankrolling every season, unless those circumstances have changed?
posted on 15/5/12
HH, I always assumed it was around 5%, so around £5m a year, a pretty good interest rate, and very little risk ....
posted on 15/5/12
I did aswell, but apparently, we are wrong?
According to Gartside, ED doesn't take interest on it.
posted on 15/5/12
You for got one small detail HH, only a tiny little one tho'.
We LOST over 26 million last year!!
posted on 15/5/12
Another thiong HH, no-one knows this current years financial deatails in full because it hasn't finished yet.
Our financial year runs until June 30th.
Anything can happen and usually does.
posted on 15/5/12
I know Bricks..but we're currently doing all the right things to sort ourselves out and become sustainable, or hopefully within the £13m FFP loss guideline next season.
That was my point, I know about are heavy spending and wages rising beyond belief, that's what's caused this mess, something Megson and Gartside deserve blame for. They got our expenditure this high and it's made our debt, or more 'equity' rise beyond belief. I get impression our debt is 'unimportant' from the Gartside interview.