[Football] West Brom.......have run out of money

[el punal]

No great surprise to see the words “Burke” and “Pardew” in the same sentence.

Shame they haven't got a Hare on the the club staff then you could say they really have got a team of stiffs.

 

[Kinky Gerbil]

All a ploy to take the hit and wipe the debt for next year in the Championship

 

[beorhthelm]

If everything is so bad then why have they made a profit or am I missing something?

'Although the club's accounts filed up to June 2017 showed pre-tax profits rise to £39.7m from £1m, Jenkins has warned that West Brom's finances need rebuilding.'

those are last years numbers, for 2016. the CEO has sight of 2017 and current finances. though i find it suspicious that a new owner could have done that much damage within 12 months

 

[kjgood]

Mis-management of the highest order

 

[Pavilionaire]

What to do when you've got no money? Take the whole club on a jolly to Barcelona. Wa-hey!

 

[Sirnormangall]

What to do when you've got no money? Take the whole club on a jolly to Barcelona. Wa-hey!

But be fair..... they tried to save money on taxi fares when they were there.

 

[Mr Smggles]

All a ploy to take the hit and wipe the debt for next year in the Championship

Good shout.

 

[Motogull]

Notwithstanding the fact that they are doomed to relegation, the story just smacks of a bloke building his part. "Ooh what a mess, I'll need time to sort it out".

I agree. Or nerdy/ego related. "The way I ran things was awesome, but now I've got to mend it all."

 

[Motogull]

... then walk into another Championship/desperate PL job.

And so it goes on.

I'm not so sure this time. People are working out that he's a very bad idea. All that dodgy gossip, the touchline antics, the ego, the dirty old man in a nightclub, 2016, making WBA worse...

The kunnt needs filling in.

 

[Weststander]

What to do when you've got no money? Take the whole club on a jolly to Barcelona. Wa-hey!

It was money well spent. The team bonding gained, led to a run of further PL defeats.

 

[Weststander]

If everything is so bad then why have they made a profit or am I missing something?

'Although the club's accounts filed up to June 2017 showed pre-tax profits rise to £39.7m from £1m, Jenkins has warned that West Brom's finances need rebuilding.'

They had one good year 2016/17 financially, which included £12m gained on the sale of Berahino, leaving £40m cash at bank as at 30 June 17.

But high cash outflows since, including the consequences of some awful decisions, have seen the cash wiped out and the need for a "small" overdraft. This would include £m's paid out in compensation to Pulis, his assistants, chairman Williams and CEO Goodman.

This financial mismanagement couldn't have come at a worse time, with their likely relegation from the PL cash cow.

 

[Garry Nelson's teacher]

"There s no more money for wages." Well I hope it's not the poor buggers who work on the turnstiles, cleaning and serving pies that don't get paid. I think the club could save a few bob on Mr Pardew's wad not to mention the idiots who nicked the taxi.

 

[albion534]

as much as i hate Pardew, WBA were always doomed after the start they had, nobody could save them

 

[The Birdman]

Should the money be reversed as the rich get richer and the gap will widen.
In America the lowest team in the leauge get the first of the top college player the following season they can sell them on later.
It helps to keep the Leauge competitive.

 

[El Presidente]

Perhaps insted of saying 'if you look at the accounts...they will show the detail' the CEO should publish the accounts on website and let fans see the detail?

I'm always very wary of clubs that just produce a press release that contains selective financial information to support an agenda rather than show the whole story to allow people to make an informed opinion. They are relying on journalists picking up on the press release and losing interest by the time the full accounts are published. There are very few DULLARDS who then read the whole thing.

 

[Kinky Gerbil]

They had one good year 2016/17 financially, which included £12m gained on the sale of Berahino, leaving £40m cash at bank as at 30 June 17.

But high cash outflows since, including the consequences of some awful decisions, have seen the cash wiped out and the need for a "small" overdraft. This would include £m's paid out in compensation to Pulis, his assistants, chairman Williams and CEO Goodman.

This financial mismanagement couldn't have come at a worse time, with their likely relegation from the PL cash cow.

Doesn’t really add up.

They had a net spend of around 40 million in the summer - which would be the above profit - the wages would have increased slightly - but where is the TV money ?

 

[Easy 10]

as much as i hate Pardew, WBA were always doomed after the start they had, nobody could save them

They won their first two games, and drew the third.

Their very first defeat of the season was at the Amex. Yup, we broke WBA.

 

[albion534]

They won their first two games, and drew the third.

Their very first defeat of the season was at the Amex. Yup, we broke WBA.

they couldnt believe they lost to little old brighton

 

[Weststander]

Doesn’t really add up.

They had a net spend of around 40 million in the summer - which would be the above profit - the wages would have increased slightly - but where is the TV money ?

Simple. Their transfer net spend since 1 July 17, increased wages, compensation to Pulis, his assistants, CEO, Chairman and some spending/poor decision-making alluded to in the press release .... have exceeded total club income 2017/18 by £10m's.

It happens.

Receiving £100m of TV money, doesn't preclude a club spending far more.

 

[Surf's Up]

they couldnt believe they lost to little old brighton

Mind you, later on in the season, when everyone else was beating them for fun, we went and lost to them!