Finance

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NewCorkSeth
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Re: Finance

by NewCorkSeth » 05 Apr 2020 16:33

Jagermesiter1871 Looking forward to Kingsley being sold to the owners next year for £45million. Running out of things to sell after him though.

We can't sell Kingsley. Heart and soul of the club. Sell Queensley.

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Re: Finance

by SCIAG » 05 Apr 2020 18:32

NewCorkSeth
Jagermesiter1871 Looking forward to Kingsley being sold to the owners next year for £45million. Running out of things to sell after him though.

We can't sell Kingsley. Heart and soul of the club. Sell Queensley.

Whichever we sell will just be leased back to us for £2m a year.

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Jagermesiter1871
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Re: Finance

by Jagermesiter1871 » 05 Apr 2020 20:31

NewCorkSeth
Jagermesiter1871 Looking forward to Kingsley being sold to the owners next year for £45million. Running out of things to sell after him though.

We can't sell Kingsley. Heart and soul of the club. Sell Queensley.


Will look a bit suspect selling Queensley for 45mil. Maybe 20.

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tmesis
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Re: Finance

by tmesis » 05 Apr 2020 20:41

Jagermesiter1871
NewCorkSeth
Jagermesiter1871 Looking forward to Kingsley being sold to the owners next year for £45million. Running out of things to sell after him though.

We can't sell Kingsley. Heart and soul of the club. Sell Queensley.


Will look a bit suspect selling Queensley for 45mil. Maybe 20.

...quid down the Oxford road?

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tmesis
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Re: Finance

by tmesis » 05 Apr 2020 20:47

SCIAG Think one of our major problems is that we have a really big squad. We have 22 senior pros, not counting those out on loan, and counting Rinomhota but not Richards or Watson. It’s ridiculous - on any given match day we’re paying at least four players at least thousand pounds each to sit in the stands.

That’s partially due to our utterly ridiculous turnover in managers, every manager wanting to impose their own style, every manager “needing” one transfer window where they are “properly backed”.

If our scouting network keeps picking up poor value players though, as it does time after time, sacking the manager isn't the answer. We, as in the club and the fans, need to accept that the reason we aren't playing well is because the players aren't very good, not because the manager is getting it wrong.

Show me virtually and club in a financial mess, and I'll show you a club with a history of poor and expensive signings. Likewise, show me a club punching above its weight, and you see a club getting good value in their transfers.

The championship is littered with clubs who thought the answer was to go on a spending spree and get promoted, and it's generally a terrible gamble.


fred sharpes nose
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Re: Finance

by fred sharpes nose » 05 Apr 2020 21:35

Astonishing extract from the Get Reading Article

"Since 2008/9 Reading have had one year in the Premier League (2012/13) and six years worth of parachute payments.

Their income over the period was £332m but wages were £337m, leading to an operating loss of £183m over the period, which works out as a loss of £319,000 every week, for 11 years."

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Re: Finance

by 3points » 05 Apr 2020 23:12

doing a full review of the accounts at the moment. It's interesting that Renhe Sports, the parent company that bought the Madejski Stadium for £26.5m last year sold it to another Dai Yongge owned company for £37.5m this season. in addition, piecing things together it looks like the training ground was bought for £18m in two separate transactions both to different Dai Yongge owned companies. It was the £13m transaction that, i believe, will have anabled us to go on our end of window spending spree (which was £15.2m) with two player contracts terminated at a cost of £1.2m (Meyler and ???)

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Jagermesiter1871
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Re: Finance

by Jagermesiter1871 » 05 Apr 2020 23:53

We're not even very good at cooking the books by the look of it. £26 mill for the Madejski? Derby sold basically an identical stadium for £80million and do you know how cheap a semi in Derby is compared to a semi in Whitley? It's not hard to pin point where its going wrong with the club.

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Re: Finance

by paddy20 » 06 Apr 2020 09:27

Jagermesiter1871 We're not even very good at cooking the books by the look of it. £26 mill for the Madejski? Derby sold basically an identical stadium for £80million and do you know how cheap a semi in Derby is compared to a semi in Whitley? It's not hard to pin point where its going wrong with the club.


That overpricing was what Got Derby into trouble. We did it at market value, they didnt. Market value is within the rules


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Franchise FC
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Re: Finance

by Franchise FC » 06 Apr 2020 10:47

Anyone for conspiracy theories ?

Dai was tipped the wink by his Chinese scientist mates in August that COVID-19 was being prepared for release and that it would have a devastating effect on the world economies to the extent that football would become a non-priority. Splashes the cash in the knowledge that FFP would be 'shifted' in response to the breakdown of civilisation as we know it.

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NewCorkSeth
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Re: Finance

by NewCorkSeth » 06 Apr 2020 11:36

Jagermesiter1871
NewCorkSeth
Jagermesiter1871 Looking forward to Kingsley being sold to the owners next year for £45million. Running out of things to sell after him though.

We can't sell Kingsley. Heart and soul of the club. Sell Queensley.


Will look a bit suspect selling Queensley for 45mil. Maybe 20.

Could try selling her to a zoo as a breeding lion?

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Zip
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Re: Finance

by Zip » 06 Apr 2020 12:52

So a £40 million loss in 2018/19. That is horrific. Assuming we have some kind of summer transfer window we have to cut our cloth. This is going to catch up with us in the end.

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Re: Finance

by Zip » 06 Apr 2020 13:36

We really have been appallingly managed in the past few years.
I thought when Howe came in the remit was for Gomes to use the academy. This was reinforced by the transfer embargo. Yet we then splash out on Puscas and Joao. We have their wages to factor into our accounts for 2019/20.

We need to sell a couple of our prized assets in the summer and get very good money for them.


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Re: Finance

by Franchise FC » 06 Apr 2020 13:37

Zip So a £40 million loss in 2018/19. That is horrific. Assuming we have some kind of summer transfer window we have to cut our cloth. This is going to catch up with us in the end.

How the hell have we managed to get into that state ?
Has anyone checked the stationery account ? Is someone nicking a few million £'s of paper clips ?

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Zip
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Re: Finance

by Zip » 06 Apr 2020 13:41

Franchise FC
Zip So a £40 million loss in 2018/19. That is horrific. Assuming we have some kind of summer transfer window we have to cut our cloth. This is going to catch up with us in the end.

How the hell have we managed to get into that state ?
Has anyone checked the stationery account ? Is someone nicking a few million £'s of paper clips ?



It’s appalling and we are not learning from it. As a club we now need to forget about PL ambition and completely change strategy and offload not only high earners coming to the ends of their contract but also high earners we can get sell for good money.

I cannot believe we are in this mess. It’s a far bigger loss than I expected.

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Re: Finance

by Hound » 06 Apr 2020 13:44

I don't understand the whole thing tbh. How did we manage to lose that much? How have we not previously sold Loader and possibly Moore when interest for them? How did we make any signings at all this summer?

All very strange and not very pleasant reading

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Zip
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Re: Finance

by Zip » 06 Apr 2020 13:51

Hound I don't understand the whole thing tbh. How did we manage to lose that much? How have we not previously sold Loader and possibly Moore when interest for them? How did we make any signings at all this summer?

All very strange and not very pleasant reading


I think it simply boils down to paying huge amounts on player wages. Yet the club would have known about all of the outgoings so no excuses for this. It makes the decision to hang on to Loader last summer even more stupid.

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Re: Finance

by Nameless » 06 Apr 2020 14:02

Zip
Hound I don't understand the whole thing tbh. How did we manage to lose that much? How have we not previously sold Loader and possibly Moore when interest for them? How did we make any signings at all this summer?

All very strange and not very pleasant reading


I think it simply boils down to paying huge amounts on player wages. Yet the club would have known about all of the outgoings so no excuses for this. It makes the decision to hang on to Loader last summer even more stupid.


Hanging on to Loader was only stupid if we were actually getting any money for him.
Wolves basically wanted him for next to nothing upfront and then lots of conditional payments which would probably never have been paid.
We would have lost a player and retained all the risk.
While releasing him might have been ok in hindsight given that he seems to have stopped playing for us anyway we’d have been very little better off financially unless he’d played huge numbers of games for Wolves, they had won the league and the Champions League and he had featured for England at the Euros.

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Zip
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Re: Finance

by Zip » 06 Apr 2020 14:16

Nameless
Zip
Hound I don't understand the whole thing tbh. How did we manage to lose that much? How have we not previously sold Loader and possibly Moore when interest for them? How did we make any signings at all this summer?

All very strange and not very pleasant reading


I think it simply boils down to paying huge amounts on player wages. Yet the club would have known about all of the outgoings so no excuses for this. It makes the decision to hang on to Loader last summer even more stupid.


Hanging on to Loader was only stupid if we were actually getting any money for him.
Wolves basically wanted him for next to nothing upfront and then lots of conditional payments which would probably never have been paid.
We would have lost a player and retained all the risk.
While releasing him might have been ok in hindsight given that he seems to have stopped playing for us anyway we’d have been very little better off financially unless he’d played huge numbers of games for Wolves, they had won the league and the Champions League and he had featured for England at the Euros.



Are you sure about the next to nothing bit upfront?

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Re: Finance

by Nameless » 06 Apr 2020 14:37

Zip
Nameless
Zip
I think it simply boils down to paying huge amounts on player wages. Yet the club would have known about all of the outgoings so no excuses for this. It makes the decision to hang on to Loader last summer even more stupid.


Hanging on to Loader was only stupid if we were actually getting any money for him.
Wolves basically wanted him for next to nothing upfront and then lots of conditional payments which would probably never have been paid.
We would have lost a player and retained all the risk.
While releasing him might have been ok in hindsight given that he seems to have stopped playing for us anyway we’d have been very little better off financially unless he’d played huge numbers of games for Wolves, they had won the league and the Champions League and he had featured for England at the Euros.



Are you sure about the next to nothing bit upfront?


Probably a bit of a ‘how long is a piece of string’ type thing !
In terms of some of the numbers that were mentioned it would have been heavily back loaded.
I had a conversation with someone who was involved to a degree and they were pretty clear that the deal was heavily biased towards Wolves paying as little as possible up front and paying us chunks as and when Loader hit some ambitious milestones. We decided we weren’t interested in a gamble and pulled out.
It might have been the wrong call. Getting maybe a couple of million in the summer with another 7 or 8 million over 3 or 4 years might have worked out, but I think we would have preferred (say) 5 million cash and 2 million on performance (illustrative numbers only !).
I think the sale of Hogwood gave us the breathing space that meant we didn’t feel we had to bend over and let Wolves have their wicked way.
As I said, might not have been the right call but I don’tthink It was stupid or unconsidered.

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