Club Financial Statement

[andrew1957]

From the OS - at last the financial statement.

It all makes sense apart from the massive PL wage bill. Why on earth were we paying so much in wages to average players. It does make you wonder how well run the club really is.


http://www.readingfc.co.uk/page/NewsDet ... 11,00.html

[brendywendy]

do you mean the average players who managed to somehow fluke 106 points record breaking championship total, followed by 8th place in the prem?

i have no idea why such rubbish players would be worth paying what amounts to low to average prem wages.



massive LOLs at those who believed the tabloid headline figures of prem league being worth 60-100 million a season-forgetting it included 3 seasons of parachute money etc and totally forgetting we have to pay wages etc or thinking we could just write off the previous years of loss making

and massive LOLs at all those who insisted in underhand money grabbing by madejski, clawing back the money loaned, or using the club finances to pay for statues

i await the flood of apologies/conspiracy theories about dodgy accounting



...........................

[No Hoops]

do you mean the average players who managed to somehow fluke 106 points record breaking championship total, followed by 8th place in the prem?

i have no idea why such rubbish players would be worth paying what ammounts to low to average prem wages.

+1

You Beauty BW.

[PEARCEY]

do you mean the average players who managed to somehow fluke 106 points record breaking championship total, followed by 8th place in the prem?

i have no idea why such rubbish players would be worth paying what ammounts to low to average prem wages.

Can't agree Brenders. I'm with Andrew on this and shocked at the money spent on "wages".
It does, perhaps illustrate why there was a need for the fire-sale this summer. I have to say given the figures I now more readily accept the clubs transfer activity. It does leave me scratching my head though when I see the likes of Stoke (similar sized club) spending so much more on bringing in players than we ever did.

[Arnie_Pie]

Exactly what the sensible amongst us have been saying all along.

[Ian Royal]

We had a lot of players of similar ability. Several signed specifically as Premier League players.

Obviously the players who had apparently proved themselves to such a high degree in the first season could command quite high wages.

Players like Doyle, Hunt, Sonko, Hahnemann, Murty, Ingimarsson, Lita & Harper. Then you've got players of similar quality but not quite as well proven who'd want something close to parity. eg Little, Kitson, Convey, Gunnarsson...

Plus those signings - Rosenior, Bikey, Fae, Seol & Matejovsky

It's just a shame so few delivered in that second season.

Doesn't go into too much detail, but gives some headline figures & explains where the "profit" went. Will satisfy those who were fairly satisfied anyway. Won't satisty those who weren't in the slightest.

But it would be nice to hear some acknowlegdment the club has delivered on its promise to make a statement. I won't hold my breath.

[Tony Le Mesmer]

A couple of points/questions:

What did we spend a NET £10.6m on in transfers?

It says we lost £6.25m last year. But it doesnt mention the sale of Kitson/Shorey/Sonko.

[brendywendy]

do you mean the average players who managed to somehow fluke 106 points record breaking championship total, followed by 8th place in the prem?

i have no idea why such rubbish players would be worth paying what ammounts to low to average prem wages.

Can't agree Brenders. I'm with Andrew on this and shocked at the money spent on "wages".
It does, perhaps illustrate why there was a need for the fire-sale this summer. I have to say given the figures I now more readily accept the clubs transfer activity. It does leave me scratching my head though when I see the likes of Stoke (similar sized club) spending so much more on bringing in players than we ever did.

of course you may agree with what you like

i agree its alot, but to say thats indicative of a poorly run club is laughable
most people were saying we should have given sidwell etc any money they asked for to keep them


its a sign of the ridiculous state football is in, and out of all the clubs being suckered into it, we seem to have done pretty well
one has to judge it by the other teams wage bill, not just look and say, my thats alot of money

even better if we manage to get up again in a couple of seasons, playing half a team of academy graduates on even lower wages

[Mid Sussex Royal]

What about gate money, sponsorship etc etc?

[FiNeRaIn]

Exactly what the sensible amongst us have been saying all along.

that the club wasted in excess of 50 million on unproven players wages from the championship? Yep, all makes sense. This puts to bed all those comments suggesting we were " well run". What complete foolishness. Looks like the club believed the media hype and went waving the cheque book at the players willy nilly.

[1871royals]

Interesting to read at the start of the 106 season we "heavily invested."

I remember reading Leroy was from SJM personal fortune. Of the top of my head the only other transfer fees we paid was to Cork and for Bryn. The other signings were freebies, obviously they would need signing on fee.

Even if Leroy was from the club, that means we spent about £1.2 million that season, hardly a "heavy investment."

Im sure a lot of other clubs in the championship spent a lot more that season.

IMO thats a big inaccuracy in these finances.

[andrew1957]

do you mean the average players who managed to somehow fluke 106 points record breaking championship total, followed by 8th place in the prem?

i have no idea why such rubbish players would be worth paying what amounts to low to average prem wages.



massive LOLs at those who believed the tabloid headline figures of prem league being worth 60-100 million a season-forgetting it included 3 seasons of parachute money etc

and massive LOLs at all those who insisted in underhand money grabbing by madejski, clawing back the money loaned, or using the club finances to pay for statues

i await the flood of apologies/conspiracy theories about dodgy accounting



...........................

You are entitled to your views but what I don't understand is why we paid something like £10M in wages in 2005/6 and then paid 30M per annum in wages to broadly the same players (with a few additions) in the PL. It has always seemed a bit mad to me that if a player receives say 500K per annum in the Championship that this immediately goes up massively as soon as they reach the PL - even though they are under a contract. Personally I think the wages should stay the same and say a 500K bonus should be paid each year you survive in the PL. That way the club's finances remain stable and the players are incentivised for success.

[Ian Royal]

A couple of points/questions:

What did we spend a NET £10.6m on in transfers?

It says we lost £6.25m last year. But it doesnt mention the sale of Kitson/Shorey/Sonko.

Rosenior, Seol, Matejovsky, Kebe, Halford, Fae, Cisse, Bikey...

It does mention that we ran our wage budget at twice that of the last time in the champ, which might account for a similar loss despite those signings.

[Baines]

I expect that their thinking was as follows: these players have proved themselves and are part of the team. We can either keep them and keep the team going (as the manager wants) by increasing their wages, or we will have to buy untested players to whom we will end up paying the same wages as the existing players in any event. So, better to keep the current players and pay them more, than incur transfer fees for no benefit.

Obviously that's not flawless reasoning, but it was a reasonable strategy for a small club in the Premiership.

[Ian Royal]

do you mean the average players who managed to somehow fluke 106 points record breaking championship total, followed by 8th place in the prem?

i have no idea why such rubbish players would be worth paying what amounts to low to average prem wages.



massive LOLs at those who believed the tabloid headline figures of prem league being worth 60-100 million a season-forgetting it included 3 seasons of parachute money etc

and massive LOLs at all those who insisted in underhand money grabbing by madejski, clawing back the money loaned, or using the club finances to pay for statues

i await the flood of apologies/conspiracy theories about dodgy accounting



...........................

You are entitled to your views but what I don't understand is why we paid something like £10M in wages in 2005/6 and then paid 30M per annum in wages to broadly the same players (with a few additions) in the PL. It has always seemed a bit mad to me that if a player receives say 500K per annum in the Championship that this immediately goes up massively as soon as they reach the PL - even though they are under a contract. Personally I think the wages should stay the same and say a 500K bonus should be paid each year you survive in the PL. That way the club's finances remain stable and the players are incentivised for success.

You may think it, but everyone in football would laugh their arses off at you. We're dealing with reality here, not what we'd all like.

[Arnie_Pie]

Exactly what the sensible amongst us have been saying all along.

that the club wasted in excess of 50 million on unproven players wages from the championship? Yep, all makes sense. This puts to bed all those comments suggesting we were " well run". What complete foolishness. Looks like the club believed the media hype and went waving the cheque book at the players willy nilly.

You cock

So our players get us promoted then we sell them all for some other players who want Prem wages?

Premership players = Premiership wages, regardless of where they came from.

[Tony Le Mesmer]

What about gate money, sponsorship etc etc?

It says taking into account all other income.

Id love to know what £7.4m on 'infrastructure' represents.

[Royalee]

From the OS - at last the financial statement.

It all makes sense apart from the massive PL wage bill. Why on earth were we paying so much in wages to average players. It does make you wonder how well run the club really is.


http://www.readingfc.co.uk/page/NewsDet ... 11,00.html

Because we spunked money on shit like Sodje, Duberry, Bennett, Halls, De La Cruz, Fae, Halford and so forth.

[Ian Royal]

What about gate money, sponsorship etc etc?

It says taking into account all other income.

Id love to know what £7.4m on 'infrastructure' represents.

That Media Centre took a fairly large chunk for a start.

[Arnie_Pie]

What about gate money, sponsorship etc etc?

It says taking into account all other income.

Id love to know what £7.4m on 'infrastructure' represents.

I believe there was a large chunk spent on 'media' stuff went we got promoted. Camera stands, media lounge, entertaining etc etc. Was part of the deal by all accounts.