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SHEFFIELD WEDNESDAY - ACCOUNTS AND FFP THREAD


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24 minutes ago, Plonk said:

Does anyone think mr c will have seen the accounts yesterday morning and sat with his his head in his hands thinking “ my dads gonna kill me”?

he knows what he is doing. Yes it hasn’t gone to plan this season, but I’m quite confident he will he have a plan to deal with a situation he will have been well aware of developing

 

We were losing £400,000/week up to May last year.

Since then we have bought Jordan Rhodes for £8,000,000, Van Aken £3,000,000(?) and lured George Boyd away from a Premier League offer.

The chairman also turned down a reported £2,000,000 for George Hirst and then paid his wage for 6 months whilst refusing to let him train with his peers.

He has not sold any of the bloated playing squad who he regards as "family".

Are you confident that his plan to deal with the situation is working?

Perhaps with the decrease in attendances on top, losses are increasing?

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19 minutes ago, Mrmason69 said:

It's unbelievable how much we are paying second and third rate players 

Boyd is getting at least 50 grand a week. Who in their right mind would give a washed up elderly footballer such high wages? 

People have said how much Wolves have spent on players. Taking wages into account we have spent so much more money than wolves. They have bought quality players and we have bought players past their sell by date. 

Fletcher was a reject at Sunderland. They were awful and didn't want him. They weren't paying him anywhere near the fifty grand a week we pay him. What do we do. We reward a reject with a massive pay increase. 

I blame cc in part for this. He signed players like abdi and Jones on massive wages and then never played them. They Never started a match together. 

The shocking thing is that we pay massive wages for elderly has beens and we refused to give young Hirst a decent deal. We have lost clare because we wouldn't give him a good deal. 

Instead of investing in young talent we've paid our large wages to washed up players with whom you can't plan and sustain any future 

If the plan was to get us into the top flight with an aging overpaid squad then whoever devised it should be in the insane asylum. 

Ultimately the owner is to blame for this. He negotiates the contracts. He let cc get away with never playing big money signings. 

Regarding the sustainability thing. Do what man City do and pay the fine. The chairman is rolling in money so it won't make any difference to him. 

After all he's bankrolled the most overpaid team of hasbeens in the history of the game. 

Sadly we are left with these players for at least another season. None of the highest paid are out of contract for at least another season. No other club will sign them. And why would they leave and have to take a massive pay cut? 

Who taught our chairman and owner all he knows .

Dave Richards? 

 

 

Only skim read the thread (it was already @ 30 pages when I started!), but isn't the total weekly wage bill £500k?

 

Including every employee at the club.

 

So do you really think Boyd is getting 10% of that? "50 grand a week".

 

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So from what I can make out.

 

1) We're making massive losses the ticket prices will never fix

2) The accounts released are for last year, the football league will already have projections and so any punishment could come any day from now.

3) Based on 2), we're too late to roll the dice for one last time. I think the last roll was buying the likes of Jordan Rhodes and we will now become the first example of what happens when the gamble doesn't work

4) We are already in "scale back" mode. I expect sales in the summer if we can manage to offload players.

 

 

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1 minute ago, bigrbuk said:

So from what I can make out.

 

1) We're making massive losses the ticket prices will never fix

2) The accounts released are for last year, the football league will already have projections and so any punishment could come any day from now.

3) Based on 2), we're too late to roll the dice for one last time. I think the last roll was buying the likes of Jordan Rhodes and we will now become the first example of what happens when the gamble doesn't work

4) We are already in "scale back" mode. I expect sales in the summer if we can manage to offload players.

 

 

Which makes the survey utterly ridiculous. The 70 percent result in favour of more spending can never be fulfilled.

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I'm no accountant and don't claim to know anything much about club finances but these just don't seem a suprise to me.

 

We knew that DC had taken a gamble on getting promoted and signed plenty of players over 2 years presumably at the managers request.  We knew that they'd be on good wages because of their previous "pedigree".

 

To me it seems like were either going to roll the dice again and back either Jos or another manager next season or massively cut back on expenditure  (easier said than done).

 

the other option I suppose, although unlikely is the TUF guys will ride in with shed loads of cash via sponsorships etc and save the day.

 

it'll be an interesting closed season to say the least.  much more so than this season's on the field efforts.

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28 minutes ago, BRADDO said:

However does DC reconcile this approach with the survey results which were to continue spending?

what he say's he's going to do and what he does don't necessarily mean they'll  tally ......he's trying to sell season tickets and he wont sell many at the prices he charges if he says i'd like to spend money on new signings but FFP wont let me ......we'll have to wait and see what happens in the summer to see if he sticks to his promise to keep spending big . my guess is that he wont be able too but i'd be very happy if it's a bad guess. 

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I've not looked at the accounts, wouldn't understand them properly anyway, lol

 

I get the impression, from this thread, that they don't break down how much of the expenditure isn't included towards FFP (or whatever they've rebranded it to).

 

How much does the ground cost to maintain? What about other match day costs etc? 

 

How much can be taken off the gross and, what's left that does count?

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1 minute ago, matthefish2002 said:

 

Any business that spends more of its income on wages is a recipe for disaster. No easy fix of cutting wages down for Wednesday either.

Choppy waters ahead I fancy.

 

TBF lots of clubs will be the same. People say well what about Wolves and what they've spent. The difference there is if they didnt go up and went t*ts up they have saleable assets who they would likely make a profit on. We bought nobody like that bar probably Reach 

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