Chairman Update

Good news and well worth the investment , how much is it now the the academy have made for the Club and with rumours that some of the big Clubs are interested in Rodon then that could be another 25-30 mill in the bank , no excuse then not to start looking forward again rather than back

https://www.swanseacity.com/news/update-chairman-2

 

If Mr Birch speaks the truth and not forked tongue I can believe all he says about the financial state of the club. What we must all understand about life is that if you only hav £500 yo7 can only spend up to that £500. With the level of tv and parachute money coming down at a rate of knots again next season we have to make savings at all levels. Players that were not first choices in the pecking order have. been sold or gone on loan but the academy is safe for another year. No mention of the play offs this season though.
He is a football man and I have to have confidence in how he does things.

 

I must be honest I do think he's telling the truth , whats he got to gain by lying ? , As you say income is going continue to fall and if we can stay at C/Ship level and keep the Academy then I think we can build again and still be attractive for potential buyers in the future.

 

After being shafted by big nose and chums and with the Yanks coming in under the radar, so to speak, it's easy to be cynical! And I am But we have no choice but to take him at face value, give him a chance and see how things go I suppose.

 

To be honest, the collapse in Income necessitates taking the axe to the cost base.

On that basis, Birch - being a former footballer turned Chartered Accountant - is a much better man to have at the helm than Huw

 

Which players have any sale value ? Rodon ? Ayew......

https://www.bbc.co.uk/sport/football/51415759

 

I’d also include Celina and possibly Roberts, Grimes plus Byers.

 

We could also stop paying Bidwell........

 

Stop paying and playing

 

Three players came in on loan in the recent window but about nine went out on loan or permanently.....savings being made 24/7 it seems. If we make the play offs and it’s big if because we need consistency and got promoted we would need massive injections of top class players which would costa lotta dough.....can’t see it happening somehow...

 

If we did go up - highly unlikely - the Yanks would spend little of the c£120m income or they’d seek to sell the club immediately during the Summer.

 

Holy hell!!!! A drop of 110 million in income......the management should be given a medal for managing that level of drop, given that most of that income went on wages.
Also, on going up, doesn't the TV money come later in the season so the owners need cash up front to invest to stay up?

 

Yes - that’s covered by borrowing against ‘certain’ income stream. The Bank takes a charge over the relevant income tranche

 

Accounts have been filed.

Not looked at them yet, but saw this:

 

Good read, but while they may pitch the obvious cost of £3 Million to run Landore, that cost is dwarfed and insignificant compared to the tens of millions they have realized the player sales from that Academy, so you would have to be pretty stupid directors to close it down, never really thought this was really under threat, maybe the boardroom will continue to run in for a profit, one average player sale from it per season more than covers the cost they seem to moan about, anyway, at least the worst is behind us..............

 

As I’ve mentioned previously, Huw remains a director.

Looks like relegation meant a huge reduction in his Chairman’s salary. Down from £650k per annum to (only) £200k per annum.

 

Hope the bastard chokes on his caviar

 

He gets nowt now!

But then again, he’s got the proceeds from the sale of his shares...

 

Or was that for part of a year? Did he do a full year after relegation?

 

He earned £132k over 8 months until he resigned. Full year equivalent is £200k