Not paying wages contributed to relegation

[morganowl]

we are losing appx 8million from tv etc , but when the wage bill was 42million a season chansiri was having to pay 20-25million towards wages , the wage bill next season might be 15 million maybe lower ,so chansiri may only be paying 10million towards running of the club . if chansiri cant fund this then he is in serious trouble and that means we are in dire trouble , its still possible administration will hit us then probably sending us down to league 2.  chansiri needs to get the wages paid and get out of this embargo otherwise we wont be allowed to prepare a decent squad . we need a good start with fresh exciting players 

[kobayashi]

1 hour ago, parajack said:

Just read through the accounts twice, under Employees: total remuneration,pension, costs etc declared are  £42,408(2018) £36,378(2019) including 1 Director 0.00

Players salary's are not annotated under that category in the accounts. also see:

 

Promotion payments In the event of the club's promotion to the Premier League various contracted amounts will fall due for payment including bonuses to players and staff plus amounts to the loan note holders (£1,336,000) and bank (£750,000) of the Club's previous holding company - Sheffield Wednesday plc. These amounts are not provided for in the accounts and will be charged to the accounts as and when the liability is incurred. The amounts due to the loan note holders and bank arise in the event of promotion on or before 31 May 2021.

Player related matters No provision is included in the financial statements for signing-on fees and loyalty bonuses, as at 31 July 2019, of £4,652,000 (31 July 2018: £5,948,000 ) which would become due to certain players if they are still in the service of the Club on specific future dates. Some player contracts and transfer agreements include clauses that require the Company to pay additional wages or fees if it is promoted to the Premiership during the term of the player's contract. These amounts are less than the additional income that would arise as a result of promotion.

The cost of Employers NI relative to the cost of salaries tells you that salaries are being paid via PAYE.

[parajack]

33 minutes ago, kobayashi said:

The cost of Employers NI relative to the cost of salaries tells you that salaries are being paid via PAYE.

NI is being paid,on the non footballing side,look at the amounts its minimal........no football salary s are listed under the Employment section in the accounts...

[heppers]

12 hours ago, Grandad said:

He's got to find £6.5m to pay off his loan shark. An extra £5m to fund the commercial losses due to relegation. Another £6m plus to fund our wages until the end of June (Inc those who haven't been paid yet).

 

And potentially another £10m plus to cover gate receipts for next year because people will carry over season tickets.

 

That's before he's paid a monthly wage bill next season, which hopefully will be down to £2m a month from the £3.75m a month or was before.

 

Next season could easily cost him £40m plus.

 

I really wouldn't want to be him.

I don’t think he has that kind of money.

 

Regarding the loan, why have we accepted the explanation that it is a loan he was unaware of? In my opinion that is not possible.

[parajack]

5 hours ago, wakefieldinleed1 said:

it’s paid through paye

Not getting it are you?....what if said i will pay you 5000 a Year for playing football through the payroll,and 750,000 through your limited company for cleaning my windows....any simpler?
——————————————

but that’s is not happening.

 

you can clearly see in the accounts, that’s the players are getting all their wages paid through paye.

 

it’s black and white 

Lead me by the hand than,i cant see players under employees in our accounts...looked twice

[heppers]

2 hours ago, parajack said:

Just read through the accounts twice, under Employees: total remuneration,pension, costs etc declared are  £42,408(2018) £36,378(2019) including 1 Director 0.00

Players salary's are not annotated under that category in the accounts. also see:

 

Promotion payments In the event of the club's promotion to the Premier League various contracted amounts will fall due for payment including bonuses to players and staff plus amounts to the loan note holders (£1,336,000) and bank (£750,000) of the Club's previous holding company - Sheffield Wednesday plc. These amounts are not provided for in the accounts and will be charged to the accounts as and when the liability is incurred. The amounts due to the loan note holders and bank arise in the event of promotion on or before 31 May 2021.

Player related matters No provision is included in the financial statements for signing-on fees and loyalty bonuses, as at 31 July 2019, of £4,652,000 (31 July 2018: £5,948,000 ) which would become due to certain players if they are still in the service of the Club on specific future dates. Some player contracts and transfer agreements include clauses that require the Company to pay additional wages or fees if it is promoted to the Premiership during the term of the player's contract. These amounts are less than the additional income that would arise as a result of promotion.

My understanding is that MM is entitled to an additional £2.5m if we get to the prem. I doubt MM is counting on it. 

[Guest Grandad]

8 minutes ago, parajack said:

Lead me by the hand than,i cant see players under employees in our accounts...looked twice

You think the non paying staff are earning £36.5m a year??

 

Let's say for the sake of argument there's 200 of them. That puts the average salary at £185k a year.

 

Not bad for a steward

[SiJ]

It's not going to have helped, is it? 

 

Combine that with loads of them out of contract in the summer and it was the perfect storm really. 

 

 

[parajack]

1 minute ago, Grandad said:

You think the non paying staff are earning £36.5m a year??

 

Let's say for the sake of argument there's 200 of them. That puts the average salary at £185k a year.

 

Not bad for a steward

Wondered why no stewards left!!

[wakefieldinleed1]

Lead me by the hand than,i cant see players under employees in our accounts...looked twice
——————————————

 

yes non playing staff are getting £36.5m

[wakefieldinleed1]

 

NI is being paid,on the non footballing side,look at the amounts its minimal........no football salary s are listed under the Employment section in the accounts
———————————-

 

it was £4m 

 

That’s not for non footballing side

[Utah Owl]

12 hours ago, Kew Owl said:

If players still haven’t been paid in full for March - it’s now middle of May - you don’t need to be Peter Jones or any of the other Dragons to realise that we are in big financial trouble.

 

Even a naive and clueless businessman such as DC must have surely realised the effect on performance that not paying wages must have, so I’m concluding the piggy bank is virtually now empty

He's been a very naughty boy so Daddy has cut off his pocket money!

[kobayashi]

45 minutes ago, parajack said:

NI is being paid,on the non footballing side,look at the amounts its minimal........no football salary s are listed under the Employment section in the accounts...

NI costs are £4m on salaries of £32m which is a ratio of 12.5%. ERs  NI is 13.8% on amounts above a minimum weekly amount of £170. If it were lots of staff on low wages then the average % would be relatively low since the minimum would be relevant but 12.5% is a high % which suggests that a few individual employees are well paid. Now which employees at a football club do you think are well paid? 

Edited May 17, 2021 by kobayashi

[Guest]

6 minutes ago, kobayashi said:

NI costs are £4m on salaries of £32m which is a ratio of 12.5%. ERs  NI is 13.8% on amounts above a minimum weekly amount of £170. If it were lots of staff on low wages then the average % would be relatively low since the minimum would be relevant but 12.5% is a high % which suggests that a few individual employees are well paid. Now which employees at a football club do you think are well paid? 

 

Cake ball makers?

 

[kobayashi]

9 minutes ago, hirstyboywonder said:

 

Cake ball makers?

 

I suppose that they are world class cakeball makers. Like Man City with footballers, if you want the best you have to pay the most.

[areNOTwhatTHEYseem]

3 hours ago, SallyCinnamon said:

Is there a way where we can pin this post and it perfectly hits the nail on the head. It says everything I’ve been trying to say on the matter in a much more eloquent way.

 

In a league of fine margins paying your players on time gives you an edge. 22 other clubs have had that edge over us this season. 

 

Yeah, but they don't know the meaning of 'hardship', swanning around with their coaches, nutritionists, and comfortable salaries. Just who do they think they are? Professional footballers!?

 

They should try doing a week's hard labour on a building site for tuppence and a box of snuff before they start whinging about their contractual rights not being met.

 

Damn - I forgot to mention covid as well. That'll have summat to do with it.

 

Never mind the law of the land or the impact it's had on our club and will continue to for some time yet...they don't deserve paying. Well in, Dejphon! 

 

Or summat.

 

 

[trumbullowl]

You wouldn't want your barrister not to get his 'refresher' just before final arguments. 'Nah, send 'im down, I reckon he did it'. 

Sent us down, anyway. 

[Athelwulf]

14 hours ago, sheffield_dave said:

 

We might as well have appointed Warnock this season. Best case scenario he'd have done his usual good work and kept us up. Worst case he would have made good on that famous quote about ruining us on purpose - but nobody would have noticed. 

 

We might as well have appointed Colin when he wanted the job during Mandy's chairmanship.

 

He'd have probably taken us up, and on two bob.

[shezzas left peg]

Players not having pride in their own performance probably contributed more. Many players out of contract at the end of the season instead of doubling their efforts to put themselves in the shop window so to speak,or raise their profile to get a better deal at their new clubs, just couldn't be bothered, says it all really. 

[i used to be sc_owl]

Let's face it, the wages will have definitely contributed to our fall, but it's not the whole story.  

 

How many managers have the players had this season? How many mixed messages? 

 

My fear now is that we will be so financially ****** that we will fall straight through League One and end up playing our games in Rotherham.