With time slowly running down until 5pm and the beginning of the weekend, i've spent the last 3 hours browsing the web for confirmation of Billy Sharp's arrival. What a day it would be if both he and Sears are bought in!!??? In that time I stumbled across this link http://www.sportingfinance.co.uk/ which shows our latest accounts. I guess it confirms what we all already knew, that generally we are headed in the right direction. My only real worry is that our wages represent 102% of our revenue (granted that it's down from 109%). Not sure how this stacks up against other clubs in the division, but if we aren't promoted then this is surely an unsustainable model going forward? To put this in perspective, League 1 clubs are heavily penalised if their wages exceed 60% of turnover. What does everyone else think about this? Am i getting worried for no reason? Are we in serious trouble if we don't go up this season?
TBH I’m astounded you haven’t been put under a transfer embargo! Your finances are as far away from ‘financial fair play’ as night and day... Well once your latest promotion hard luck story plays out, McCarthy leaves, you lot will be royally f**ked!!
"I guess it confirms what we all already knew, that generally we are headed in the right direction." If £100 million with debt increasing is going in the right direction, yes you are going in the right direction. "What does everyone else think about this? Are we in serious trouble if we don't go up this season? " Yep, big time!
Well we were in £36 mill of debt before Evans came in. Now we're £100 mill.......... but the losses each year are much more pleasing. Being reduced year on year. This years figures don't include Cresswell. Next year we'll probably be at break even for the first time in years. If our yearly losses are going down significantly Jungle each year then yes we are. Teams do not make a profit in this league! Only way we can address the ridiculous debt the club is currently in is by being premier league.
