More quotes from Solak today speaking to Alfie House in the Echo re: the club's financial situation and why he's feeling positive about the outlook.
Summarising the figures he disclosed in the interview below...
--
2025/26 season, just gone: £45m repaid in bank loans, £57m paid in transfer fee instalments
Current status going into next season...
BANK LOANS (Covid loan taken under Gao)
June 2025: £90m owed in bank loans
June 2026: £45m owed in bank loans
TRANSFERS
June 2025: £99m owed in transfer fee instalments
June 2026: £42m owed in transfer fee instalments
--
He also called out that the club hasn't been budgeting operational costs with the parachute payment money, so the final payment of £40m for the 2026/27 season will be directed straight to the Covid loan, bringing the balance to £5m which he anticipates clearing in time for June 2027, making the club debt-free at that point.
Other headlines from the latest quotes:
- Solak is not concerned on transfer payments, as instalments are commonplace and our receivables outweigh our payables
- He called out that the wage bill is still far beyond a normal Championship wage bill, this is a legacy situation where our former PL players received a % pay cut upon relegation, but that pay cut is never going to reduce them all the way to 'normal' Championship salaries, otherwise why would a player sign the agreement
- If the club is in the Championship still for 27/28 then Solak will still expect a top four finish and the budget given to the sporting director and manager will match that and still be better the vast majority of the league (minus the parachute clubs)
- He has never seen a penny of the parachute payment funds as they've always gone to servicing the debt directly
- 'We have some business developments that will come in next year, and we want to further develop the whole commercial side of the business'
- Said he has personally been leading those bigger projects since he took the chairmanship a year ago
Summarising the figures he disclosed in the interview below...
--
2025/26 season, just gone: £45m repaid in bank loans, £57m paid in transfer fee instalments
Current status going into next season...
BANK LOANS (Covid loan taken under Gao)
June 2025: £90m owed in bank loans
June 2026: £45m owed in bank loans
TRANSFERS
June 2025: £99m owed in transfer fee instalments
June 2026: £42m owed in transfer fee instalments
--
He also called out that the club hasn't been budgeting operational costs with the parachute payment money, so the final payment of £40m for the 2026/27 season will be directed straight to the Covid loan, bringing the balance to £5m which he anticipates clearing in time for June 2027, making the club debt-free at that point.
Other headlines from the latest quotes:
- Solak is not concerned on transfer payments, as instalments are commonplace and our receivables outweigh our payables
- He called out that the wage bill is still far beyond a normal Championship wage bill, this is a legacy situation where our former PL players received a % pay cut upon relegation, but that pay cut is never going to reduce them all the way to 'normal' Championship salaries, otherwise why would a player sign the agreement
- If the club is in the Championship still for 27/28 then Solak will still expect a top four finish and the budget given to the sporting director and manager will match that and still be better the vast majority of the league (minus the parachute clubs)
- He has never seen a penny of the parachute payment funds as they've always gone to servicing the debt directly
- 'We have some business developments that will come in next year, and we want to further develop the whole commercial side of the business'
- Said he has personally been leading those bigger projects since he took the chairmanship a year ago
