Didn't the club extend the financial year to 14 months - so that the year end would change from 31 May and report instead on 31 July to coincide with the football season? As such the £77m reported as players wages is on average c£5.5m per month - or c£66m in a "normal" year.
£104 Million in from all income streams, £120 Million out on expenditure, with a deficit of £16.5 Million only escaped by the sale of Bony? Final profit around £1.4 Million (2013/14 Accounts)........
Well if we paid £66 million on wages as Taff has suggested in the post above, where the fcuk did the other £50-£60 million go? Add Bonys sale, that would leave the best part of £80-£90 million unaccounted for
Looks like a decision isn't likely till Wednesday as Jenkins is going to London tomorrow to receive his OBE . Sounds a bit like Laudrup flying off to Paris at a critical time ....except Jenkins is actually going ....words fail me .
Phil - didn't I read that they changed the year end from 31 May to 31 July? Therefore the accounts are for 14 months Found it http://www.swanseacity.net/news/article/swans-announce-1.1m-profit-2835478.aspx
Valley - they paid £77m in the 14 months accounting period. That equates to £66m in a 12 months period.
http://www.telegraph.co.uk/sport/football/teams/swansea-city/12038230/.html Latest update!! Monk is expected to leave in the next 48 hours, bookmakers have suspended bets, Rodgers and Moyes unlikely to take the job, may have to look for a short term manager. Got to say it's looking grim for swansea ATM, hopefully there's a resolution now, I feel sorry for monk but it's time he left. I don't think that swansea doesn't have enough funds to pay for his payout. The report only indicates profit not what is in the bank and also if he does receive a payout it will be likely paid in stages.
Rogers may well knock us back even if we did want him, a typical ego driven mercenary that may look at us as a step backward after his pool job ? So in our current position maybe the board can't find anyone with enough experience who will take the job ? Which will mean another bit more of a gamble which is maybe why they been persevering way to long with monk ?
Looking at that finances link, it says the COST of the squad was 77 million. I take that to mean the book cost of the squad and not the cost of keeping them, i.e. the wages and bonuses etc. It certainly seems the club operated at a loss of 16 m. which was compensated for by a profit on transfers. But if that situation continues, then you need to continue making profits on transfers to keep your heads above water. I guess the increased TV payments will help a bit unless they too have to go in increased wages. (I read somewhere that, as TV income increaes, much is going out again to the players!). Bloody crazy state of affairs...........I wrote elsewhere that no sane person would get involved in football!!!
EVERYONE in or out of football follows the money by bettering their lot and that of their family. If you think anyone other than the fans are loyal you're living in cloud cuckoo land. And I don't mean all the fans either. That stadium will lose a huge chunk of so called "Swansea faithful" (I hate that term) if we go down.
