Article from Business Insider follows. No shocks or surprises there. It is clear why Slade had a brief to knock £12m from the wage bill. Also, figures as at May 2014 so out of date already. http://www.insidermedia.com/insider...story_article&utm_campaign=wales_news_tracker Club by club information: - http://www.insidermedia.com/insider...iness_article&utm_campaign=wales_news_tracker
Our net debt is stated as being £81m which surely can't be right. Even at this very low figure we appear to have the third highest net debt in the Championship behind QPR and Bolton and the third highest wages and salaries expenditure at £46m behind QPR and Fulham. Right or not the figures make for worrying reading and the need to reduce annual expenditure brings into focus how relatively well the club is now doing both on the pitch and in the necessary task of transferring/loaning out players in order to reduce the wage bill from its current unsustainable level. Even though I'm pessimistic by nature things at last do seem to be going in the right direction both on and off the field.
The total debt figure at the bottom of the narrative is a little more eye watering - £174m. At least £130m of that was owed to VT with the debt likely to have increased in 2014/15. As I said, these figures were as at 31st May 2014. Will he ever capitalise a good chunk of this as promised? I wonder how much the £20m+ raised from the sales of Medel, Caulker, Mutch, Campbell and Daehli will have lessened this amount, if at all - bearing in mind the generally rubbish players bought in by OGS and to a lesser extent, Slade.
Until I saw these figures I thought QPR was far more of a basket case than us (£179m as opposed to our £174m) but clearly not.
