Why don't we have much money?

[Sean Thornton]

Some of that relates to last season so isn't relevant.

My understand is that at the start of every season we set an income and expenditure budget.
So unless there are some weird surprises, like covid, then everything should balance with no financial troubles.
Basically everything (the drop in parachute payments) has already been budgeted for in the staff contracts.

However my understanding from talking to someone at the club is that some of our income has been used to support "United World".
It's United World that is proving far more expensive than the Prince ever imagined and he needs funds from somewhere to keep it going.
So he's used some of our turnover. Haven't a clue if this is correct but it's what I was recently told.
Was also told we are in financial trouble and need to takeover (any takeover) to go through.

The accounts to 2022 will show if United World has been funded with our money. Although it will show figures over a year old the allegation has been made for longer than that so we’ll know how much the club employee knows. The 2021 accounts showed trading but no funding. Bit left field but l guarantee the auditor has far more genuine info in order to sign them off.

 

[Sean Thornton]

The accounts published last June showed debts totalling £115 MILL. The owner has around 9 secured loans outstanding & the mortgage he took out to pay the £35 MILL for the stadium, club & all other properties. The loans were secured against Prem money for both seasons & all the parachute payments. You have to remember the owner won't spend a penny of his own money. He never promised to do this. He's also bought 4 other foreign clubs since the last promotion under Chris Wilder. They all cost money to run & we are the only club he owns , of the 5 under the umbrella of United World, who has been bringing in massive amounts of money for United World. So it's easy to see where the money has gone.

Mmm. How much is outstanding on the charges now? Excluding the Emirates mortgage and Close Leasing equipment purchase?

Two things.

It was £45m.

Have a look at Companies House again. Not at the 9, yes 9, NINE charges an instead look at the share details for SUFC Ltd and Blades Leisure Ltd to see how much he’s put in.

Usual ill informed nonsense that you can’t back up. Never a reply, just another repeat.

 

[Sean Thornton]

So the answer is don't show any ambition and refuse to meet wage demands of our targets.
Imagine the bedlam on here if we didn't buy McBurnie, Brewster and Berge due to not meeting wage demands.

We were still one of the lowest payers the last time we were in the PL and generally paid £25K a week.
I've been told from a trusted source that every single player have wage decreases built into their contract if we were relegated.
Also told that for the past year or 2 we've still been able to afford to pay the wages of all our players.

Sorry to rain on your trusted source parade but relegation clauses has been common knowledge since it happened and officially stated.

If we hadn’t paid players the EFL would have been involved. Again, hardly “news”.

Although l do hear Mick Jones is off to Leeds.

 

[Houston_Blade]

The accounts to 2022 will show if United World has been funded with our money. Although it will show figures over a year old the allegation has been made for longer than that so we’ll know how much the club employee knows. The 2021 accounts showed trading but no funding. Bit left field but l guarantee the auditor has far more genuine info in order to sign them off.

The only thing I can think of outside of all the nonsense people have come out with about our ‘turnover’ going to them or ‘handouts’ to UW clubs would be if we are shouldering a larger share of the central overheads of UW than the others, but that’s up to the powers that be in charge of the group and as long as the auditors ok the split then it’s not something that will come to light without the club revealing it.

 

[Champagneblade]

It's not like we have a League One squad and a Championship team this time.

Whichever way you look at it, we have right now most of the team that finished 9th, albeit more experienced/older (depending on your angle!) including many additions that were made in the second season plus we have Ahmedhodžić and Ndiaye, who, in their current state of powers, would have been worthy additions to the team finishing 9th.

Back then the back up players were Retsos, Bryan, Freeman, Stearman, Rodwell, Freeman, Morrison, Holmes, Zivkovic and a 34 year old Clarke to name but a few.

I think we have less of a fall off in terms of depth of still lacking overall quality.

With Cov/Luton, Burnley, Forest, Everton, Bournemouth, Palace (possibly minus Zaha), Brentford (minus Toney for a while) I think there is plenty to go at for a mini survival league and that's assuming the bottom three drop as they are right now.

 

[Nicolaus_Copernicus]

We pay UW £250k a month for business/football advisory services.

 

[Stu_Blade]

We do have some but not enough to fill a barrel.

Depends how big the barrel is!

 

[ISZA ⚔️]

We spent it all on drugs and whores.

 

[Sean Thornton]

We spent it all on drugs and whores.

The rest we wasted.

 

[Houston_Blade]

We pay UW £250k a month for business/football advisory services.

Do you know what the other UW clubs pay?

Any kind of metric used would point to us paying more than the others due to the size/turnover/infrastructure etc. but just interested to see if it's disproportionate.

 

[georgebernardshaw]

We pay UW £250k a month for business/football advisory services.

A flat fee? No added incremental changes?

 

[Charlieblade]

Based on future PL income,the club is now solvent.

The club borrowed money to pay debts for the first Wilder promotion season. This inclded the purchase of club assetts from MCAbe, as required by the court judgement.

The club bought players during those two years of PL membership, mostly based on the hope that they might do well in the PL, but would give us a chance of getting out of the championship, if we got relegated.
All players still had to be paid, and many incurred transfer and agents fees as well as wages. The club also has another 70+ employees, some of whom will be full time professionals like doctors phisios as well as groundsmen, tea ladies etc.

The day to day cost of running the business, includes, business rates, power and water supply to the club, and other remote facilities.
Income from ticket sales, does not cover running costs and maintenance/repairs. Income from home games will be reduced by fewer fixtures in EPL.

If the club needs to replace a player, Norwood for example, even a free transfer would cost a signing on fee and wages suitable for the higher level. Norwood still has to be paid as his deputy, or fiancé found for a replacement.

All injured players still have to be paid! Jack O’Connel, Ciaren Clarke, Ollie McBurnie ,RND, Sander Berge and others still have to be paid, even if they are unfit for selection. PH and his team still expect to be paid no matter what league we are in, even if we get relegated!

Against all this, we will have a shirt and ground sponsor, but it’s still not enough to buy and pay wages for a top six club, There is a limit on buying players, based on our current income. We still owe installments on Ahmedhodzic, Brewster, Berge and probably McBurnie too?

If we need replacements or reinforcements in the next January window, the money will have to come from sales of player assets.