Blackpool have released good financial figures, partly because of judicious spending in the PL and the parachute payments. They did not risk themselves by spending heavily in the PL, though it meant they were relegated. Bearing in mind the huge debts of some football clubs, it seems to have worked for them. They intend to spend on their stadium and facilities. Not spending massively doesn't mean certain relegation, so it's a point to remember if we get promotion and fans start yelling for us to sign Rooney. Luckily, I think NC is always careful to balance risk.
http://www.blackpoolfc.co.uk/page/NewsDetail/0,,10432~2625582,00.html Yeah,it's a shame that we don't release our figures.
Thanks for posting that, Adam. The best thing on the football side is promotion and staying in the PL, but financially being a yo-yo club can make sense because of parachute payments. I think we 're better off not knowing our figures as we must be running at a loss. Leave the sleepless nights to Nicola. As he once said of Markus, it's alright for him he just turns up and watches the game. So we have something in common with a billionnaire!
I think we probably are, but that's probably slightly misleading because most of our spending other than player wages appears to be one-off investments, improving the training ground and so on, which were all planned expenditures when Liebherr took over and which will pay dividends for many years to come. On the subject of wages, although quite a few of our first team are on upwards of £20k/week, we have brought most of this squad up from league one and we don't have any £30k+ earners (or even higher), like many championship clubs do. I'd imagine our squad expenditure is actually lower than you'd think compared to some of the teams we're competing with (Birmingham, West Ham and so on will have some very high earners, and most of the established championship teams will have a higher average salary I'd imagine). Unquestionably we were paying high wages for league one, and probably made a substantial loss in that division, but we're probably not far off breaking even in the championship, excluding those aforementioned infrastructure investments, and the sale of Oxo gives us a pretty healthy buffer. Even if we fail to get promoted, I think we're in a pretty healthy position.
I'm sure FLT will back me up on this, but didn't Cortese say, over a recent meet-the-fans dinner, that Saints would never be relegated from any league while he was in charge..? I think that sums up his commitment adequately.
Very bold statement...or he would jump ship before it happens. Prefer to think that he can't envisage it as he has great faith in his own ability.
This is correct..... I nearly wept. He also said that Premier League salary structure is already in place for when we get promoted. It's a shame he didn't sing it like this: "E I E I E I O Up the football league we go When we get promoted This is what we'll sing I know your salary, I know your salary, Adkins is our King"
When Cortese and the Liebherr family get their projected club value, they will sell up. Mark my words, this wont be long.
I asked him about that, and I don't think it will be as soon as you are suggesting (although not sure when yiou are suggesting). He wants to build this to a lot bigger company than it currently is. I don't think he'll be gone within three to five years, unless it all went disasterously wrong.
Without knowing their year-end, I presume those figures don't even include the parachute payments they'd have received some time post May-2011 - which makes things even more impressive.
I agree with the sentiment of not getting into a financial mess (we're already a prime example of that) but a good football club will balance ambition with sensible spending. It's a massively tricky business when all your rivals around you spend money like it's going out of fashion. I would say we're in a totally different place to Blackpool. We have invested heavily in youth already. You can tell we're trying to become self sufficient like your Barcelonas or Arsenals of the world. Unfortunately in the meantime we have to sensibly balance out spending on a competitive team, whilst bringing through the youngsters to take us to the next level. If we spend £10 million it will no doubt be because we can afford it and we need too. We're in great hands!
Just to add to my comment. Blackpool were clearly content not to rock the boat financially and live beyond their means. You have to applaud that in the modern game but if you throw into the equation ambition, then they have failed to progress and enhance their earnings. The parachute payments will run out soon and they will be back in amongst the pack of clubs that seem to be happy where they are. Of course they will have enjoyed their time at the top but I've seen premiership football for the vast majority of my life and I would like us to get back to where we belong and make steady progress.
Both Cortese and the Liebherr familly are not in it for the money! The Liebherr Group makes billions of profit each year & I'm sure Cortese could earn a lot more in other areas. This isn't about money I think Markus knew he was going to die and this is his legacy, so people would remember him. Jesus it would make me die with a smile on my face if I was in his situation. It's such a shame he is'nt around to see how much success we are having. He was a true fan, you don't do that if your in it just to make a quick buck!
I admire Blackpools prudent attitude to financial issues, but had they not submitted a derisory offer for Puncheon, they could have signed a very good player for a fair amount. Glad they didn't mind, but if your serious about challenging for promotion, sometimes you have to pay what the players worth.
