[Football] The cost of promotion: Wolves had losses of £1,200,000 a week last season

[El Presidente]

They've released their figures for 17/18 which are 35m loss but not the group which includes their massive wage bill. I think they're going to blow Wolves figures out of the water.

Will find out early tomorrow morning!

 

[spence]

Will find out early tomorrow morning!

Set your alarm. This could be very interesting.

 

[LlcoolJ]

I didn’t mention the old Rangers 1 and 2 cases at all. Yes, I aware that Rangers used EBT’s.

I did remember you btw, with your expert knowledge of all this through your profession.

These professional articles do mention tax evasion, and both income tax and NIC in the ongoing Newcastle and West Ham cases. Are they wrong?

View attachment 105320

View attachment 105321

Then again here in Newcastle’s paper:

View attachment 105323

I thought it was still ongoing also. You're correct

Either way, my original point that PAYE pulls a ****ton of money in from the the PL to government funds is also correct.

 

[LlcoolJ]

Will find out early tomorrow morning!

Will Villa get a massive points deduction or will it be bottled?

Pulling your leg obvs.

 

[El Presidente]

Surely we are heading for 20 million profit for this season if we finish 15th again ? We spent roughly the same in transfer fees as last season. We had to spend around 10 million for stadium improvements to comply with Premier league rules. We had a profit of 11 million last season and so 20 million isn't unreasonable and we are still in the cup. Prize money in each round has gone up quite a bit.

[MENTION=31]El Presidente[/MENTION]

I don't think it would be that high. My understanding is that the wage bill will rise this season (new contracts for Dunk, Duffy and new signings on decent wedge replacing those on less money). We are no further in the cup than we were last season so won't make a difference unless get to final, and even then bonuses will eat up a lot of the additional revenue.

If we make the same as 17/18 I'd be delighted TBH.

 

[El Presidente]

They've released their figures for 17/18 which are 35m loss but not the group which includes their massive wage bill. I think they're going to blow Wolves figures out of the water.

Group results now out

[Tweet]1103180040823603201[/Tweet]

 

[Weststander]

Group results now out

[Tweet]1103180040823603201[/Tweet]

Hi @El Pres. Was that as expected for you?

Any FFP implications?

 

[crodonilson]

Group results now out

[Tweet]1103180040823603201[/Tweet]

Sorry can't see the tweet, a £35m loss for the group I understand, so the combined accounts showing a £70m loss??

Also wages at an astonishing £70m which given Wolves' wages were £50m including £20m of bonuses for promotion is eye watering.

 

[Weststander]

Sorry can't see the tweet, a £35m loss for the group I understand, so the combined accounts showing a £70m loss??

Also wages at an astonishing £70m which given Wolves' wages were £50m including £20m of bonuses for promotion is eye watering.

The consolidated (group) loss of £54m is the pertinent figure.

 

[Napper]

its all devalued the parachute payments in a way.

 

[crodonilson]

The consolidated (group) loss of £54m is the pertinent figure.

£54m loss including £30m+ in parachute payments

 

[El Presidente]

Sorry can't see the tweet, a £35m loss for the group I understand, so the combined accounts showing a £70m loss??

Also wages at an astonishing £70m which given Wolves' wages were £50m including £20m of bonuses for promotion is eye watering.

I'd be cautious in relation to Wolves £20m bonuses, having looked at the small print it's £20m in terms of transfer clause bonuses to other club, upgrades to the infrastucture to make it HD ready and staff promotion bonuses.

 

[Stat Brother]

I'd be cautious in relation to Wolves £20m bonuses, having looked at the small print it's £20m in terms of transfer clause bonuses to other club, upgrades to the infrastucture to make it HD ready and staff promotion bonuses.

As you're about El Pres ive a couple of questions:-

Can you point me in the direction of whatever the rumours and innuendo concerning Man City and FFP are based on.

&

When can we expect palace's latest accounts?

 

[El Presidente]

As you're about El Pres ive a couple of questions:-

Can you point me in the direction of whatever the rumours and innuendo concerning Man City and FFP are based on.

&

When can we expect palace's latest accounts?

Hi

I wrote a script for the City story for YouTube



Think Palace's accounts will be very late!

 

[LlcoolJ]

Think Palace's accounts will be very late!

Yes, don't hold your breath for those!

I must admit I am looking forward to the CARNAGE though (turd polishing notwithstanding). However long it takes them to publish, it's going to be an amusing read for us DULLARDS who like numbers.

 

[Weststander]

£54m loss including £30m+ in parachute payments

Without the parachute income, yes an £84m loss.

As a championship club, they committed to:
Bolasie £70,000 a week
Terry £60,000 a week
Jedinak £50,000 per week
Lansbury £40,000 per week
Grealish £40,000 per week
McCormack £40,000 per week
Abraham £40,000 per wages
Kodija £35,000 a week
Hourihane £35,000 per week
N.Taylor £35,000 per week
Hogan £30,000 a week
Kalinic £30,000 a week
Chester £30,000 a week
Whelan £30,000 a week
Elmohamady £30,000 per week
Adomah £30,000 per week
De Laet £25,000 per week
Bjarneson £25,000 per week
Elphick £25,000 per week
Bree £23,000 per week

= still arrogantly in PL mode.

 

[Weststander]

Yes, don't hold your breath for those!

I must admit I am looking forward to the CARNAGE though (turd polishing notwithstanding). However long it takes them to publish, it's going to be an amusing read for us DULLARDS who like numbers.

Which will include another set of termination payments to De Boer & his assistants, just weeks into huge contracts.

 

[crodonilson]

Without the parachute income, yes an £84m loss.

As a championship club, they committed to:
Bolasie £70,000 a week
Terry £60,000 a week
Jedinak £50,000 per week
Lansbury £40,000 per week
Grealish £40,000 per week
McCormack £40,000 per week
Abraham £40,000 per wages
Kodija £35,000 a week
Hourihane £35,000 per week
N.Taylor £35,000 per week
Hogan £30,000 a week
Kalinic £30,000 a week
Chester £30,000 a week
Whelan £30,000 a week
Elmohamady £30,000 per week
Adomah £30,000 per week
De Laet £25,000 per week
Bjarneson £25,000 per week
Elphick £25,000 per week
Bree £23,000 per week

= still arrogantly in PL mode.

That's disgusting, the whole point of parachute payments is to help a club re-adjust to the Championship and yet their wage bill went up by £12m between their first season in the Champ to the 2nd.

 

[NooBHA]

I didn’t mention the old Rangers 1 and 2 cases at all. Yes, I aware that Rangers used EBT’s.

I did remember you btw, with your expert knowledge of all this through your profession.

These professional articles do mention tax evasion, and both income tax and NIC in the ongoing Newcastle and West Ham cases. Are they wrong?

View attachment 105320

View attachment 105321

Then again here in Newcastle’s paper:

View attachment 105323

These Investigations are not related to PAYE Violations - Instead they contravene '' Failure to Report'' Regulations. By law they must report payment paid to or received from third parties who are not their employees.

HMRC Apparently Suspected that they nor any other Federal Taxation System had been notified of all payments - That would tie in with the French Authorities being involved because DTAs in existence between all countries state that as soon as one country has notification of income in one particular country. Even though the income may not be taxable in that jurisdiction. The DTA obligates them to forward such details on to the country where the income would be taxable.

No one knows their findings to date with any certainty but it is highly unlikely that it would have been payroll violations in the UK - Unless there is a directive that all such payments should have tax and NIC deducted at source by the ''Donor'', even if the the recipient is not a continued employee - We are heading for that in the future but I am almost certain it would not have been in place back then.

HMRC are getting to grips with the Football Industry but it just takes them too long to get Cases to the Court System if they get challenged.

 

[Weststander]

These Investigations are not related to PAYE Violations - Instead they contravene '' Failure to Report'' Regulations. By law they must report payment paid to or received from third parties who are not their employees.

HMRC Apparently Suspected that they nor any other Federal Taxation System had been notified of all payments - That would tie in with the French Authorities being involved because DTAs in existence between all countries state that as soon as one country has notification of income in one particular country. Even though the income may not be taxable in that jurisdiction. The DTA obligates them to forward such details on to the country where the income would be taxable.

No one knows their findings to date with any certainty but it is highly unlikely that it would have been payroll violations in the UK - Unless there is a directive that all such payments should have tax and NIC deducted at source by the ''Donor'', even if the the recipient is not a continued employee - We are heading for that in the future but I am almost certain it would not have been in place back then.

HMRC are getting to grips with the Football Industry but it just takes them too long to get Cases to the Court System if they get challenged.

Thanks. Your insightful knowledge is interesting.