Football League club finances

[robf]

BBC reporting that Southend and Macclesfield both failed to pay their wages this month - https://www.bbc.co.uk/sport/football/51734407

For me, this is why the sensible budgeting and spending by our owners is so welcome.

As soon as the City cup money came in, some folks were crying out for a transfer splurge but what if we'd spent all that money and still not gone up (the play-offs is a gamble). We'd be left in League 2 with an even higher wage bill.

So while I can understand it is frustrating for some, I would rather see caution, gradual progress and the long-term future of Vale assured, rather than short-term "all or nothing" splashing of the cash.

I also feel sorry for the long-suffering Southend and Macc fans. I hope their clubs get better owners soon.

[ginginator]

The playing budget they have of £3 million is obviously a huge burden and this was the same last season. They are now stuck in a rut, similar to our neighbours with players that are surplus. Sometimes taking a chance does work, but the risk  -  reward factor is certainly catching a few out.  Stick to the budget re income from previous years or banked, seems to be the only way forward. No loans, deals in the pipeline, Just current assets.

[robf]

There's an excellent article on football finances by David Conn here - https://www.theguardian.com/football/2020/mar/04/review-bury-need-for-ffp-efl-league-one-two-owners-wages#maincontent

[wotsyobeef]

Sol Campbell is at risk of becoming the new Harry Redknapp, leaving a wrath of destruction in his wake.

How do you stop it, rules get brought in and clubs and owners just find ways to circumvent the rules.

They get loads of credit and then lose interest and its the fans who lose out.

I'm glad our owners seem to understand that we might not get another windfall like the city game for a long time and want to budget accordingly with some cash in the bank to fall back on if things get tough.

[Santa]

Southend is a weird one because they’ve had to throw a lot of youth teamers in this season. God alone knows where the money is going  

Vale’s accounts for last season are due to be published by the end of the month. It will be interesting to see how much detail we get.. 

[Fosse69]

18 minutes ago, robf said:

There's an excellent article on football finances by David Conn here - https://www.theguardian.com/football/2020/mar/04/review-bury-need-for-ffp-efl-league-one-two-owners-wages#maincontent

But still no plan to tackle "Fortune" money in L1 & L2, obviously the Championship is a different scale of unbalance.

[cheshirevaliant]

14 minutes ago, Santa said:

Southend is a weird one because they’ve had to throw a lot of youth teamers in this season. God alone knows where the money is going  

Vale’s accounts for last season are due to be published by the end of the month. It will be interesting to see how much detail we get.. 

Are we still using the same accountants that we used under NS? I suppose it will depend on their policies unless the Shanahans specifically ask for more detail. Then again, it is a free hit for them as they can say that very little of the year end 30 June 2019 occurred on their watch. 

I suspect Southend are starting to pay Sainsburys back for the advances on the land at Roots Hall over several years. I can't see Sainsburys continuing to fund SUFC to play at Roots Hall when they have effectively already bought it off them. Ron Martin (Southend chairman) is a pea from the same pod as Smurthwaite. 

[mbycars]

Oldham are also in dire straits. Talk of going into administration this week plus a winding up petition from two different creditors. 

[Jacko51]

Rumours of that Bassini youth being interested in Oldham.  Response from Kevin Maguire:

 

[Iron Curtain]

Andy Holt's latest twitter feed is fascinating reading... he goes on about all the investment he needs to do at Accrington (on facilities and infrastructure) but demonstrates that it could be that spending that puts the club out of business. 

[ginginator]

2 hours ago, Jacko51 said:

Rumours of that Bassini youth being interested in Oldham.  Response from Kevin Maguire:

 

The last line made me chuckle, how rude and it does not need thinking about. 

[Mario]

Macc not paid wages again,should have been paid last Friday................

[Jacko51]

This morning’s Senile reports that the Coates family have put £224 million into the club since 2006 .......... yet they’re still crap!!

[Playa Amodores]

1 hour ago, Jacko51 said:

This morning’s Senile reports that the Coates family have put £224 million into the club since 2006 .......... yet they’re still crap!!

It isn’t their own money, it’s come from the being in the EPL and parachute payments, which will stop after the  next season I believe. I think you’ll find that the small club in Blurton are well over £100m in debt to the Coates family, who run their ownership business separate from the club, like many others do. I’m sure I read this week that Southampton FC were likely to be put up for sale with a tag of £250m. 
The Coates family will want the debt back and at a few million for the club, I know which one I’d buy out of the two if I had the money.

[robf]

There appears to be trouble brewing at Charlton Athletic now...

https://www.theguardian.com/football/2020/mar/10/charlton-takeover-in-chaos-after-public-disagreement-between-new-owners