Where is the money?

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Where is the money?

Postby bubbles500 on Wed Jan 10, 2018 1:43 pm

I was going to put this in the G&S thread but thought it may get lost. And this feels more relevant now than any other time. I’m sure most know the ins and outs of this but I’ve still yet to see a reasonable explanation as to why we are skint. With Talk of having to sell Lanzini to buy and being linked with £5m players the reality really does appear to be that we are totally skint.

So why is this ?

There’s is near on an extra £50m in TV money extra £10-15 in gate money claimed to be 14 th richest club in Europe . The club is still near enough £100m in debt so what exactly is going on. When G&S took over they talked about CL football. How exactly were they planning to achieve that. If anything financially things have gone better than their wildest dreams. A 57k stadium for near enough free and a mega TV deal that nobody could have imagined. Serious questions need to be asked to where exactly the money has gone. No current PL club should be skint.
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Re: Where is the money?

Postby DasNutNock on Wed Jan 10, 2018 1:46 pm

On Jr 's feet.
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Re: Where is the money?

Postby sharphammer on Wed Jan 10, 2018 1:48 pm

defies belief... I estimate somewhere in the region of £400m thats un accounted for somewhere
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Re: Where is the money?

Postby mushy on Wed Jan 10, 2018 1:53 pm

sharphammer wrote:defies belief... I estimate somewhere in the region of £400m thats un accounted for somewhere


Care to explain the 400 million?
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Re: Where is the money?

Postby psychoscoredthelot on Wed Jan 10, 2018 1:59 pm

sullivans back pocket
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Re: Where is the money?

Postby goa127 on Wed Jan 10, 2018 2:05 pm

The answer's simple. All the clubs in the lower half are paying ridiculous money to average players to achieve nothing. Only real success brings the £££s rolling in. The owners have large personal fortunes but they are not going to put that money into the club. That's why they have large personal fortunes. Our wage bill is the 7th highest in the league. That would be ok if we were in the top 7.Spurs are getting away with paying more modest wages because they're enjoying a relatively successful spell. Not sure how long that'll last but we pay over the odds just to get someone to come here. The whole premier league business model is a giant Ponzi scheme and one day someone will pull out the bit that holds it all up
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Re: Where is the money?

Postby LOS on Wed Jan 10, 2018 2:09 pm

So the question needs to be constantly asked - why did we move ?

None of it makes any sense.

We are letting these crooks off on a free ride. We've been mugged.
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Re: Where is the money?

Postby Jumby on Wed Jan 10, 2018 2:13 pm

I just don't know how the media haven't grabbed this story by the horns and ran and ran with it. You could have an absolute field day tearing into the mismanagement of this club, fill column inches, pages, daily if you needed to. They used to with Newcastle and they were never anywhere close to the scale of this f**k up. You really couldn't script it.
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Re: Where is the money?

Postby GPW on Wed Jan 10, 2018 2:22 pm

goa127 wrote:The answer's simple. All the clubs in the lower half are paying ridiculous money to average players to achieve nothing. Only real success brings the £££s rolling in. The owners have large personal fortunes but they are not going to put that money into the club. That's why they have large personal fortunes. Our wage bill is the 7th highest in the league. That would be ok if we were in the top 7.Spurs are getting away with paying more modest wages because they're enjoying a relatively successful spell. Not sure how long that'll last but we pay over the odds just to get someone to come here. The whole premier league business model is a giant Ponzi scheme and one day someone will pull out the bit that holds it all up


Pretty much this. Wages are the issue. We are paying too many players too much, certainly for what we have got out of them as a team. That's exacerbated by the unbalanced squad and poor management which means we have higher earners contributing little (injured, crap, past it or not needed) and holes in the team we can't fill because we don't have the wages to do so. That gap needs to be covered in one of a few ways:

1. "Top up" money from success on the field (Champs Lge etc);
2. Bank rolled by seriously wealthy owners - our guys are rich by the standards of fans but not the standard of PL owners;
3. Finding under-priced talent we can pick up on low wages thereby filling holes cheaply and potentually selling on later at a huge profit. Hard to do repeatedly but possible with really good scouting.

Our problem is that we really only have #3 as an option right now but appear crap at it. We pick very cheap
"punts" and then when that doesn't work look for older cast-offs and "free" signings who all generally tie up large wages with no resale. It's not rocket science even if the owners may it appear to be. Our owners seem (bizarrely for self-claimed successful businessmen) unwilling to actually invest in aquiring talent. That means we are constantly deferring everything and looking to pay over time, paying inflated wages not transfer fees, refusing to sack managers because of the one-time pay off etc. It seems to me that our owners business instincts are simply not suited to this industry or at least how it now operates.
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Re: Where is the money?

Postby bubbles500 on Wed Jan 10, 2018 2:32 pm

You state all the above and then they go and give Reid a 6 year contract. Possibly the most ludicrous decision I’ve seen in a long long time.
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Re: Where is the money?

Postby BrownFatwa on Wed Jan 10, 2018 2:32 pm

LOS wrote:So the question needs to be constantly asked - why did we move ?

None of it makes any sense.

We are letting these crooks off on a free ride. We've been mugged.

i'd say rogered is a better description.

oh and dont forget the tally of agents fees which has probably gobbled up £20m on striker dealings alone.
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Re: Where is the money?

Postby Jumby on Wed Jan 10, 2018 2:37 pm

bubbles500 wrote:You state all the above and then they go and give Reid a 6 year contract. Possibly the most ludicrous decision I’ve seen in a long long time.


After the Carroll contract!
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Re: Where is the money?

Postby westlondonhammer on Wed Jan 10, 2018 2:41 pm

bubbles500 wrote:I was going to put this in the G&S thread but thought it may get lost...


What did you see when you studied the most recent accounts?

Probably the best place to start... it might answer some of your questions.

I'm not an accountant and ignorant about this kind of stuff so I wouldn't have a clue.
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Re: Where is the money?

Postby bubbles500 on Wed Jan 10, 2018 3:18 pm

Aren’t the latest set of accounts due and late ? Not sure might be wrong on that.
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Re: Where is the money?

Postby Porkeyes on Wed Jan 10, 2018 3:23 pm

Stop thinking about them and what they've done or haven't done. It'll just ruin your day. Don't give them any more money until they **** off and drain the life out of something else. :crest:
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Re: Where is the money?

Postby Prob on Wed Jan 10, 2018 3:35 pm

Making sure we pass FFP rules as we are the only club in the league affected by them
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Re: Where is the money?

Postby westlondonhammer on Wed Jan 10, 2018 3:50 pm

bubbles500 wrote:Aren’t the latest set of accounts due and late ? Not sure might be wrong on that.


No idea

Surely last years account can help you to a certain degree? What were your takeouts from there as to where to money has gone?
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Re: Where is the money?

Postby Bill on Wed Jan 10, 2018 3:59 pm

Sullivan's pension plan.
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Re: Where is the money?

Postby One Peter Butler on Wed Jan 10, 2018 4:08 pm

I think HMRC seized it all when they raided last year.

I would like to know why they have never commented anything about that raid. I know one has to be careful in legal proceedings but a controlled statement via lawyers could have been put together.
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Re: Where is the money?

Postby Wembley1966 on Wed Jan 10, 2018 4:11 pm

bubbles500 wrote:Aren’t the latest set of accounts due and late ? Not sure might be wrong on that.

The accounts for the financial year ending 31st May 2017 are due to be filed with Companies House (and therefore made public) by 28th February 2018. Last year they were filed on 27th Feb!

Once they are posted we will be able to see what impact moving to the OS has had on matchday revenues. Will also be able to compare us to the other Premier League clubs - and as previously stated we're about the same as everyone else, apart from those with Champions League revenues .
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