See article below; http://www.theguardian.com/football/2014/may/01/qpr-higher-wage-bill-than-atletico-madrid As my brother pointed out...they have 'loaned' the money...loans need to be repayed, often with interest. Are our dear owners potentially being overly generous and spoiling us, which long term, will not be to our benefit at all?
Staggering. I hope this doesn't end in tears. Gross mismanagement but then again who am I to say that. Is there method to their madness?
that makes depressing reading, this cant carry on, promotiin is a must, TF has put this club on black but its come out red,administration beckons if they dont turn this arround
0.9% of Mittal's wealth alone. Chicken feed. Still worrying of course as rich men do not throw money away no matter how wealthy they are.
Earlier in the year it was reported that we had a higher wage bill that Broussia Dortmond who just happened to be in last seasons Champions League Final, now we are compared to Athletico Madrid who just happen to be in this seasons Champions League Final........Lazy journalism just rehashing an old story with a modern twist....we all knew that our wages were 128% of turnover to end of May 2013 when the accounts were published some time ago...... Nothing new here.....
Guys, as mentioned before, (successful) businessmen cut their losses at some stage. I think if we don't go up we may get to that loss-cutting stage. We'll always support the Rs nevertheless! See an interesting article quoting Fernandes and the spending at the state-run Malaysian Airlines - http://www.themalaysianinsider.com/...-over-mass-losses-says-aviation-industry-need Some comments from the article, hmmmmm?....... Fernandes, meanwhile, criticised MAS and MAHB’s continued spending and losses. Saying that the industry’s policies and airline management need to shape up, Fernandes said that MAS and Malaysia Airports Holdings Berhad (MAHB) have to start churning profits to avoid burdening taxpayers. “My point is that if you’re running a private company, could you afford to cut 16% of your costs and still lose RM1 billion?” he asked. “It’s supposed to be profit-making. This just hurts decent players in the business when they’re spending like there’s no tomorrow,” said Fernandes.
On paper it looks pretty grim but I'm no expert on economics. If you have not already looked up our uncle Tone then I would recommend you have a gander http://en.wikipedia.org/wiki/Tony_Fernandes When he took over air Asia they were in big financial trouble and within a couple of years turned a profit and a small fish so to speak into a very successful competitor in a very competitive market. I still have faith and the old saying is Rome was not built in a day. It's also worth noting that his net worth is still increasing despite owning us and Caterham F1. At this rate he will soon be a billionaire. For my money this man knows what he is doing in business and while he is our chairman I'm not going stress too much about it.
At the end of the day it's only money, so once he sticks around and keeps footing the bill we'll be alright. It's only, as Cork says, when he gets tired of dipping into his ample pockets that we have to be concerned, and that's not going to happen anytime soon is it? Michael O Leary might take over then, he's getting awfully generous of late.
I think we will struggle to pay back the £170m we owe, I mean how many clubs make that kind of profit in 10 years? The good news is they are in so deep that they'd lose big time if they liquidated us. Kind of puts a different light on the happy clappies claiming the wage bill should have no effect on expectation. Everyone should be concerned with the way this club is run but hardly anyone will be before its too late.
Good thread Dave. A necessary thread. I'll weigh in fully at the end of the season however the playoffs pan out. During the meanwhilst a few thoughts. The theory advanced by a lot on here is that when NW got the bum's rush we were in freefall. We weren't. Look at our finances since Teflon Tone took the helm. That's freefall fo' y'all. Also we can't criticize Teflon Tone coz when we do he'll walk away and then we're ****ed. The only reason we're ****ed if Teflon Tone walks away is Teflon Tone's reckless gambling. We're now like crack whores relying on a benevolant pimp with an eye for PR. He took a club on the way up for the first time in a generation and turned it into a joke, a byword for overspending way beyond your means. We have deservedly become a laughing stock, all on Teflon Tone's watch. We have to go up for no other reason than to service the debts this guy has run up on our behalf. Cheers for that Tone. Does anyone on here "get" Financial Fair Play and how it impacts us? If we go up, based on an optomistic £30m loss this year we are fined cica £19m. Added together that's £49m. On top of our current debts that's heading on for a quarter of billion. That's the best case scenario. Using Sky money to service our debts. Living the dream eh? AFC QPR comes into it if we don't go up. We don't go up we are hit with a transfer embargo starting next January. Anybody on our books decent will be off. Who'd stay at a club that can't sign anybody? And who could possibly sign for a club that can't sign anybody? Ever decreasing circles. Who'd invest in a club then? They'll cut their losses and the buckets are back. But if you don't "get" Financial Fair Play rest assured we are in good hands. Posted a year ago. 25/03/13 04/05/13
As I pointed out in the 'Perspective' thread, Burnley's First XI total wage bill per week was less than a certain non-playing squad member, it's the economics of the madhouse...
Sean Dyche was interviewed last week, he said their top paid player was on £8k a week and many in the team are on less. He couldn't fathom our wage bill and neither can most of us...
It just shows what a terrible terrible job theyve done. I dont think theres a bigger disparity of wages in any league ever, certainly not for a team finishing fourth. just think, some will treat them like heroes if they somehow manager to go up.
Well, they are soon expecting to have massive wage bill rise to come. Ings&Vokes getting 10-12k/per week between them in the prem......?
I'm sure they will get rises, perhaps double, but you can be sure there will be a relegation clause that will halve their money if they go down...
Can you not see getting rid of one person is completely different to hiring another? I think we all want rid of zamora and SWP, we could get worse players in, that doesnt mean it was a mistake to get rid of them, it was just a mistake to get the wrong replacements. Its right to get rid of Redknapp, it would be wrong to hire Megson or Powell.
