Zappa 0 Posted December 2, 2010 Share Posted December 2, 2010 When you factor in the fact we have earned a few more points this year in the CL and have at least one round in the Europa cup there should certainly be a greater profit from European football than last year, with the possibility of a little more. A win in Turkey next week and it should be at least �£4 million more in European revenue than last year with presumably only the expenses for the Europa league away match/s to come off it. 0 Quote Link to post Share on other sites More sharing options...
Totti 0 Posted December 2, 2010 Share Posted December 2, 2010 We need Europe just to break even in the financial year, there's little profit. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted December 2, 2010 Share Posted December 2, 2010 Dont forget we also spent 4 mill on Jelavic whereas previous season we spent nothing on transfers and, in fact, brought in transfer fees - no ? 0 Quote Link to post Share on other sites More sharing options...
metlika 0 Posted December 2, 2010 Share Posted December 2, 2010 Yeah we got �£4m and spent �£5.5m roughly unsure of how much Beattie cost tbh. So we technically had a budget of �£1.5m? 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted December 2, 2010 Share Posted December 2, 2010 Dont forget we also spent 4 mill on Jelavic whereas previous season we spent nothing on transfers and, in fact, brought in transfer fees - no ? We sold Wilson & Thomson in the summer though and that amounts to over �£4m. It's also worth taking into account the players we let go because their contracts had run out and the wages that saves as well. We let Beasley, Boyd, Novo and Smith go who were all on decent wages, so that probably just about covers bringing in the likes of Weiss & Beattie. We also let a bunch of youngsters go in the summer (7 or 8 I think) but we did bring some in too. 0 Quote Link to post Share on other sites More sharing options...
Super_Ally 0 Posted December 2, 2010 Share Posted December 2, 2010 OT: Couldn't recall what Stevie Smith was upto so googled. Injured in pre-season for Norwich he's hardly played. Might get a run now due to a team mates injury. Shame as he looked like he could go far. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,665 Posted December 3, 2010 Author Share Posted December 3, 2010 I think it would be ludicrous not to spend in January. We can see the squad depth is fragile and came close to breaking recently and the winter usually adds casualties to the injury list. There is also no doubt the money is there - we should earn at least as much this year as we did last year - maybe more with a good Europa run, when we managed to pay off about �£14M worth of liabilities. Fees due for players will be a tiny fraction of last year which should allow us a lot of breathing space to spend at least a few million on a couple of decent players to bolster the squad. It's easy to get carried away when the glass is looking fuller but you can only squeeze an orange so far... Spot on. No-one is asking us to spend beyond our means but the squad needs strengthened if we want to maximise our chances of a league win so it should be done where possible in January. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,679 Posted December 3, 2010 Share Posted December 3, 2010 It appears that the directors are still being dictated to by the business plan imposed by the bank, and there may not be the option to spend, even if we have brought in more cash than would have originally be envisaged. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,665 Posted December 3, 2010 Author Share Posted December 3, 2010 It appears that the directors are still being dictated to by the business plan imposed by the bank, and there may not be the option to spend, even if we have brought in more cash than would have originally be envisaged. Most probably but it makes AJ's praise of the bank (and our relationship with them) all the more grating... In saying that, I don't blame the bank for being less than willing to fund transfers when we waste over a million on the likes of James Beattie. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted December 3, 2010 Share Posted December 3, 2010 Last year we made something like a 4M profit after paying out 9M in players fees, so why is the business plan still so tight? It's fine to be careful but if you don't keep a minimum operation expenditure, you can lose the ability to compete in the market place. If we were a factory and after downsizing our machines were breaking down to the extent that we couldn't get our products out, then we'd be spending on new machinery to guarantee our orders if we could afford it. After last years' figures, we can obviously afford it and still service and reduce our debt. I think the problem is that without the CL we struggle to manage to break even and the likelihood that we'll be playing there in the next few seasons is slim. The bank must be ignoring this year's good financial results with an eye on the more difficult times to come. However, I still think they are going too far and ironically compromising this year's income - as well as season ticket sales for the next. 0 Quote Link to post Share on other sites More sharing options...
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