Brightonfan1983
Well-known member
Really? Bugger...
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The crazy world of the Premier League #1248 - Wigan: Wages = £39.9m; Debt = £72m
- Thread starter Bozza
- Start date
Really? Bugger...
Poyetry In Motion
Pooetry Motions
It wouldn't surprise me if Wigan do a double relegation and end up in League 1 pronto
brightn'ove
cringe
i hope people realise that it says 7.2m not 72m...
7.2m is probably quite manageable, scrimping and cutting back on wages/players would sort it out, parachute payments should they go down will pretty much write it off...
7.2m is probably quite manageable, scrimping and cutting back on wages/players would sort it out, parachute payments should they go down will pretty much write it off...
- Thread starter
- #25
No, their total debt is £72m. No decimal point.
I wasn't talking about their current annual loss.
seagullsovergrimsby
#cpfctinpotclub
The £7.2M is the loss over 12 months , their total debt is £72.2M
Glad that's clarified. Thread title said 72m, the link said 7.2m, which confused me. Sure, it would make sense if I clicked the link, but I'm mostly watching witness for the prosecution on mgm hd.
Quite staggering, [Chief executive Jonathan Jackson said the club was moving towards break even, adding: "The results are encouraging."] [However turnover itself had increased by 16%, with net debt almost unchanged at £72.2m.] how can £72.2m of debt be paid
brightn'ove
cringe
i should
myself...very confusing numbers then.. 72.2, 7.2.. the article doesnt make it easier either!
f me though... 72 mil and thats for a club that only just stays up every season...
vegster
Sanity Clause
- May 5, 2008
- 28,274
The top half dozen of The Premiership have set the benchmark for a self perpetuating gravy train. The big clubs cannot afford to miss out on European football and as such pay huge wages to get the best players to make sure they DO get European football. They need this to pay the wages of their over paid bloated squads.
One way of tackling this is to reduce the number of substitutes, the bigger clubs can pay the suicidal wages to have top notch benchwarmers while the likes of Wigan and Bolton etc have much less expensive subs. This helps the bigger clubs maintain their dominance should a game look like its not going their way.
Go back to a max of 3 players on the bench and that might just help the smaller clubs compete better financially and on the pitch. The big clubs can splash huge amounts of cash on " impact players " that the little boys can't compete with but, if there were just the 3 subs, top players would think twice before signing for a club where they would get a game more rarely.
One way of tackling this is to reduce the number of substitutes, the bigger clubs can pay the suicidal wages to have top notch benchwarmers while the likes of Wigan and Bolton etc have much less expensive subs. This helps the bigger clubs maintain their dominance should a game look like its not going their way.
Go back to a max of 3 players on the bench and that might just help the smaller clubs compete better financially and on the pitch. The big clubs can splash huge amounts of cash on " impact players " that the little boys can't compete with but, if there were just the 3 subs, top players would think twice before signing for a club where they would get a game more rarely.
Alex Alex Dawson oo! oo!
Primary data is fact
I guess this is a start:
"....more than half of the club's net debt has been converted to equity......"
Can't imagine where they got the idea from though
zoogull
zoogull
Sky payments in respect of TV revenue are partly responsible for the hike in wages, but owners like Abramovich have also had a part to play, together with various groups of foreign businessmen from overseas who seem to have a bottomless pit when it comes to investing in clubs: Manchester City for example.
If there is breakaway league it might mean more opportunities for home ground players. It might make the 'new' top division more competitive: at present there are only about 4-6 clubs with any realistic chance of competing for the top 4 positions.
What is also concerning is the length of contracts that some of the players are on: the longer contracts could be financially ruinous for clubs that plummet more than one division.
Also, what sort of interest repayments are they having to fork out?
If there is breakaway league it might mean more opportunities for home ground players. It might make the 'new' top division more competitive: at present there are only about 4-6 clubs with any realistic chance of competing for the top 4 positions.
What is also concerning is the length of contracts that some of the players are on: the longer contracts could be financially ruinous for clubs that plummet more than one division.
Also, what sort of interest repayments are they having to fork out?
Would they though? Look at Winston Bogarde at Chelsea - he made 11 appearances in 4 years, refused to move on as he was being paid £40k a week. He was happy to wind down his contract despite knowing that he'd never get a game. There are plenty more examples - not quite as extreme as that but nevertheless players will stay at a club on big wages rather than move elsewhere - more recently, think of Wayne Bridge.