http://www.bbc.co.uk/news/uk-wales-south-west-wales-16689224 I saw this on the BBC website and just wondered what people thought of it. I reckon it was worth it, but only because we got promoted. If we'd failed at the final hurdle, what would this have meant?
well played mr morgan... that overruling of jinks turned the £8. 2 million investment into a £90 million pay day....
so despite all this the only club breaks even? so all you have to show for it at the end of the day if you get relegated (unlikely) is better players on bigger wages and recongition?
A thread nothing to do with any board member and Dai manages to get a swipe in at Jenkins. Dai, you are pathetic. Give it up. On the ACTUAL TOPIC OF THE THREAD (take note Dai), would I be right in saying player values are still not included in our "assets"? If so, given the huge increase in market value any of our first-teamers will have enjoyed, things look rosy. Huw said a while back that we had geared towards promotion, and if it hadn't been achieved no doubt some players would have had to go. Thankfully, that didn't happen so we don't have to consider what would have happened! Somehow I doubt we'll make a loss for the next financial year...
100% wrong as normal then Dai. we didnt spend/invest £8.2mil to get promoted. read the article properly and you will see the Swans paid out alot of money BECAUSE they got promoted hense the big loss. ie player bonuses for promotion (rumored to be £5mil+), payments made to relegated clubs, giving Reading all the Wembley money etc
Thank God you said it, Stid - I was just going to point it out. If we hadn't been promoted, we wouldn't have been £8.2million in debt! Player and staff bonuses were implemented the second that the final whistle blew and so our losses are as a result of the promotion. If we hadn't been promoted we would barely have been in debt is what the article actually says. Given that £50million of the "£90million" is parachute payments that don't get paid to us this season, it's pretty clear why we haven't spent much this season. Well done Jenkins for keeping the club on stable financial ground again. The long term future of the club is far more important than the short term.
We have to salute the board, huw and brendan for getting us into a position where we are to be able to mix it with the big boys and still remain stable in the way the club is being run and as the article states that we wold of cancelled that loss if we continue the way we are going and remain as aprem club complex the end of the season
i am 100% right im afraid, you may not like it but i know and so do thousands of others that if it was down to huw then we would not be in the premiership..fact boys just facts.....its mr morgan you should be thanking he made sure brendan was backed last season....
A thread nothing to do with any board member and Dai manages to get a swipe in at Jenkins. Dai, you are pathetic. Give it up. dont like it when you hear the actual truth scotty boy.....who cares i dont ...
I think any examination of these accounts will show some loses regarding white elephant player purchases as well, Craig Beattie's £800,000, will be in there! What a wast of money he was, must go down as one of the worst player purchases ever, record signing by who I wonder? no one has admitted to this one, not to mention paying off Sousa and his team, I was expecting a lose but not so high, but in the overall scheme of things, should be balanced out this year, shame the ground is so small, now the plastic have arrived, the club must be losing at least £500,000 every other week!.................. please log in to view this image
The thread is exactly to do with the board isnt it ?? The figures released look pretty good considering, there must have been a fair chunk to Chelsea,Ipswich had a lump ,im sure WBA got a wedge for Beatie getting into the prem league a few other add ons to other clubs like maybe wrexham add to that bonuses and the loan of Borini id say thats about right. Next season will be back to around break even, we have gained the SKY money for the next 4 yrs if we go down and we have probably turned over an an extra £4-5 m quid just by the commercial benifits of being Premier league.
Dragon- No one admitted to it but you me and many others know it was Jenkins ,he is unofficial chief scout y'know By far the worst signing ever made in terms of money spent, to think we guzumpt Palace to sign him by offering him more money as well £7 k a week !! its no wonder Jenkins was a bit reluctant to spend the money after the beatie fiasco.
its bloody fantastic loss, it could have been a lot worse if we never went up, ok the bonuses would not have been that high but bonuses would have been paid for reaching the p/o final anyway, i know for a fact the club pays a staggering amount for accommodations that new players stay at and loan players too. £8 mill is an accumulation of many factors....
That's why there's a Board of Directors, Dai. So that one person can't be accountable solely for the decisions of the football club, it keeps the club grounded and ensures that we remain balanced in the boardroom. "If it was down to Huw, we would not be in the Premership"... Ok, so where exactly did we 'back' Brendan with cash last year? We released money for Sinclair and Moore, and we got in Borini and Priskin on loan. None of those broke the bank. It seems to me that the 'spend less, achieve more' method is the one that's worked best so far. Here's a few facts for you, Dai (seeing as you only deal in them): 1. The £8.2million was not down to money spent during last season, but after the Wembley win. 2. We had to forfeit all money made at Wembley to Reading because we won. 3. We had to pay money to all the relegated NPC clubs as a result of being promoted. 4. All players and staff had substantial promotion bonuses. 5. The other half of Scott Sinclair's transfer fee was triggered the moment we won at Wembley. I'm not saying that Mr Morgan doesn't deserve credit for our promotion, or that Huw deserves all the praise. The whole board deserve immense credit. They do it as a team and without the lot of them we wouldn't be anywhere near where we are today. But please don't use this £8.2million as a reason to criticise Huw and praise Morgan, as the costs involved from winning at Wembley were unavoidable no matter who was in charge of the club.
The other remarkable thing with Beatie,is why pay so much for a player with a Proven injury record!! Looking back at that time though it was extremely difficult for all concerned, Martinez almost ruined the club, i remember us having almost 11 players injured with no correct physio staff to over see injuries, people may slag me off about Sousa but he did well to steady the ship, i was hoping to avoid relegation that season and that was the remit when Sousa took the job. The club is in good shape thats the main thing.
none that broke the back you say, i tell you what it would account for well over half of the £8 million thats for sure.
The other remarkable thing with Beatie,is why pay so much for a player with a Proven injury record!! beattie was a fit man compared with boddie and look how much we have wasted on him....
The Bodde saga,A new hope . A long time ago on a football pitch far far away... Dog with a bone you are Dai
Who care's about a measly £8 million loss....the TV revenue for this season and next season will cover it as we all know "they're only here, to watch the swans, they're only here, to watch the swans"....a little adaptation of my favourite chant by a mile But in all seriousness £8 million is nothing considering the bonuses we had to pay out for promotion..and given that the Profit and Loss Account would account for all the money paid out by the club towards the squad (e.g wages, insurance, travelling) without actually considering the value of the sqaud, then £8 million, considering we are on about the premier league, is pennies!! (or Yaya Toure's wages for 4 months!!!)
