I think its good business.

I dont worry about our finances, I just worry about our performances on the pitch.

We made a profit of £5.67m despite rebuilding the north bank, with a possible £5-7m if we decide to invest what's left of the outgoing transfers from last season.

The wage bill was successfully reduced by 50% for all playing staff and all surviving players accepted those terms.

Many teams would expect a huge loss when initially rebuilding their stadium and hope to regroup that over a number of years (eg Arsenal - Emirates).

We are in good health. We need to stay up though.

Those unhappy would maybe be the people who feel that the sales of fletcher/Jarvis/Kightly have potentially cost us our championship status.

I'm of the opinion that we couldn't keep unhappy players and Sako has replaced Jarvis adequately.

we're only in good health if the club remains in div 2. and even then we have no £16m pot of gold coming from player sales this summer.

i do think we are financially sound compared to most clubs in our position but we do need a number of players to realistically challenge for promotion from div 2 next season (if that is where we are) and to fund that, whilst remaining in profit, morgan/moxey will need to either bring in extra investment or dip into the cash at bank that they have been hoarding ever since morgan deposited the famous £30m.

will M&M change the financial strategy they have stuck to since morgan's arrival?

Forgive me throwing in my two cents.

Crewe are, and always have insisted, on being a financially stable club, for example. It doesn't always translate into success on the pitch.

There's a few others. Conference League is a great example. It's a stark choice for a club on the slide. Look at poor Macclesfield. Either drop down, by choice, or fold.

The Wolves (a massive team in my boyhood) have some fundamental questions to ask themselves. Before it gets too late. I always liked Deano as a player, but my God, that was a bad call appointing him.

Do you seriously want to compete? Are you prepared to invest the serious amount of wodge that will require? Are you prepared to bet the future of the club on the risk factor of that investment? Leeds?

Tough questions. Someone, somewhere needs to grow a pair.

Juan, we welcome other views.

I just find I agree less with people who don't go to see the team play and judge our manager on his results with a team of poor inherited players who lost the majority of the 40 games before he arrived.

Dean did a great job at Doncaster, building a table topping side on a shoestring budget and he as mastered League One before, if it does indeed come to that.

juan,

the fact is that we don't even need to gamble with the financial future of the club. we have c£25m of cash at bank, in hand or owed to the club by other group members. even in average div 2 years we can rely on 18-20,000 gates, rising to c25,000 should we look anything like a top 6 side. in the prem we will happily average c30,000 should we be able to get back there and become established.

what we need more than anything is to make a clear decision on the footballing strategy at the club, appoint the right manager and stick with him for a long enough period of time to allow him to achieve anything. sadly, after four years there is absolutely nothing to suggest morgan/moxey are capable of doing that. they have made one bad decision after another, sticking with MM too long, failing to sign a deal on the preferred replacement, insulting another established prem manager before appointing a temporary teaboy to oversee the relegation. then bringing in a foreign gamble with a long term mission before sacking him after less than 5 months of the season, to replace him with a country cousin whose only managerial experience consists of getting two clubs relegated in his first season at both.

somebody does need to grow a pair. morgan needs to stand aside and appoint a man with real football knowledge to run the club.

I think that's a little unfair on Saunders' achievements with Doncaster. You talk about the need for giving managers long term stability but you yourself seem to have written off Saunders after only 8 games?

i haven't written saunders off. i hope he can turn things around and do well at the club. but at the moment he is struggling and we've seen no real clear signs that he is up to the job. he is prone to some very odd looking decisions, which is fine if yr getting results in games but harder to defend without a win in yr first 8 matches in charge. by now i would have expected a manager to have an idea what his best side is and how he wants them to play but i have no real clue who will start where for wolves this friday.

saunders only achievement at doncaster was to get them relegated. he left the club in a good position in a lower league than he joined them. he may yet get a hat-trick of relegations, with wolves following doncaster and wrexham.

Why are total staff costs flat at #38 Mill when most of the players (which is where the big costs are) were to have taken a pay cut following relegation?

I know that it's not a full 'financial year' but I would have thought there would be a reduction!

cyp,

these are the accounts for the period 1/6/2011 to 31/5/2012. company accounts are due to be posted 9 months after the end of the period, so for wolves (as for most football clubs) that is the end of february with an accounting period ending in line with the season at the end of may.

the post balance sheet events are significant events that happen after the end of the accounting period but that are noted so as to give an accurate picture of the current position. that is why we reported on player sales from the summer even tho they were outside the period of the accounts.

next year we will see the figures relating to this season. i'd expect turnover to have fallen from c£60m in our final prem season, to c£25m. most of the £25m will be our parachute payment of £16m from the sky money. money from attendances is likely to be c£6m.

next year's accounts will also show the reduction in the wage bill. salaries (and other costs) of c£38m in the prem will be closer to £22m. from that tho you can see how our wage bill looks set to rise steeply as a proportion of what we turnover - from 63% in the prem to 88% in div 2 - unless we can further trim costs. it has not been M&M's way to operate so close to a loss so we either see a change in financial strategy, or we can expect another round of cost cutting. i expect RJ and o'hara to be on the club's list of players to sell in the summer - neither have proved irreplaceable and together they cost us around £4.5m per year.

gbwolf, you talk a lot of sense.

These figures were published before the season started (as they were for all Championship clubs as part of FFF).

One shock (to me at least) that came out of last night’s Fans Parliament is that Morgan thinks we will make a c£6m loss this season after transfer dealings.
That doesn’t stack up to me so I’m very interested in what comes out in the next set of figures.

It was also stated categorically last night that, on relegation, Moxey took the largest % cut in salary of anyone at the club.

Just to follow on from Tatters comment. I too was shocked that Moxey took over a 50% wage cut but in a recent article I did,the accounts said one director out of the three was paid £1.186m. Seeing as Morgan doesn't take a wage from Wolves could the £1.186m been paid to the accountant rather than Moxey?

'One shock (to me at least) that came out of last night’s Fans Parliament is that Morgan thinks we will make a c£6m loss this season after transfer dealings.
That doesn’t stack up to me so I’m very interested in what comes out in the next set of figures.'

They won't worry about that because they know that not one person will remember that they had a query in the first place. Can anybody remember the raised eyebrows over the last set of figures we got?

Thought not.

Regarding the relegation wage drop clause in the players contract, is that a general one or just from the premier league?

There is no clause in their contracts for dropping below this division. i.e. no wage drops for further relegations.

Just from the Prem, Tam. It wasn't written into the contracts if we were relegated again to League 1.

Well that was good planning

They had better get one in for league two over the summer.

Shame. Do you think they would be more motivated of they were to get another wage cut for a second successive year should we be relegated?

I think it makes sense to have a relegation wage drop clause no matter what division we're in.

Don't think its going to matter, Tam. The likes of JOH, SEB, Doyle....etc will all think they are better than L1 and will be off.

It’s hardly a crime Herb. Writing in a clause about relegation from this div would have been like writing in a clause about what happens in the event that Godzilla attacked or there was a second coming.
No one thought it possible, no one wrote it into the contracts.

comment by gb wolf (U17280)
posted 1 hour, 57 minutes ago

Cheers gb.

Not a crime, but terribly arrogant to not even consider the possibility of back to back relegations. You watch a clause go in this summer and every summer for the length of Morgan and Moxey's tenures from here on in

You can only add that sort of thing when they are signing. There wouldn;t have been an option to insert that sort of clause this summer unless it was new players or extensions. The same will be true this summer.

"No one thought it possible"........


except Deja who predicted all this last summer.

<rightallalong>