Fans know so little about the financial side of football and yet routinely accuse the board of starving the manager of cash to buy proper players.
For the umpteenth time I repeat the prince has rescued us from the abyss. KM had decided to insist that the club paid its own way as from this season. Prior to that he was subsidising the club to the tune of £1m per month since we were relegated from the Championship. He had drawn a line and said enough was enough. Then the prince came along and injected new money, mind you KM gave him half the club and cancelled all the debt. In return the prince is subsidising losses and £8m seems about right even allowing for the good cup run.
Our wage bill will be nowhere near £8m, more like £4m plus a bit, but only if the FFP Rules permit that level. But fellas, Weir was under orders to take it much lower than that. We should be thankful for small mercies. The level Clough is working at is plenty for the job at hand, the manager has said so more than once.
Before our last couple of good results there were threads on here accusing the board of this and that and slashers were having a field day. So few know the basics of the financial side and yet hold such passionate opinions about the board, which incidentally has been in place just over a year that's all.
Phipps is right to mention figures and I hope it helps fans have some appreciation.
Woodwardfan . i do agree with you , but in part you are wrong when you say fans know so little about the financial side of football. The Blades fans know when a club has not been run correctly by poor governance and overall management . Like any business beholden to shareholders the CEO carries the can . Football as a business is no different and fans require answers.
SUFC were not only rescued from the abyss , we had fallen off the cliff , and thankfully being astute Mr McCabe with Mr Prince provided a financial parachute .
When Mr McCabe became chairman he had to sort out financial issues, created by previous chairman who used SUFC has a cash cow ,and did not invest , but instead there actions , did bleed SUFC dry . No money in the coffers and banks calling in loans. , Mr McCabe saved SUFC .
Indeed part of the Bramall Lane land footprint is still owned by a previous chairman., which still requires resolving .The Lane is prime real estate and Mr McCabe did rescue the ground asset from being sold off . It was agreed in principle we would play at Don Valley Stadium.
The financial crash of 2007 did not help Mr McCabe and his property business ventures , but still backed SUFC financially . It does cost a boat load of money to run a football club and raise cash through banks / funders to keep it afloat with cross company guarantees , some also being personal to the McCabe family.
Where Mr McCabe has gone spectacularly wrong is taking poor advice from outside on all things football , with listening to other football managers on our previous appointments of managers . I can name Sir Alex Ferguson and David Moyes as two.
Crowds of 20,000 do not cover the clubs cost . We cannot shut the academy as we are still paying for the dam thing and will be for many years to come.
We have the banks , financial institutions on our side , we are moving forward both in the board room and on the pitch.
Mr McCabe , Mr Prince are the way forward for the club . If Mr McCabe 2 years ago had said fuck it , i have had enough , we would be in the fourth division . This is a defining year , let us hope we are in the championship.
UTB
