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About Me

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  1. We get a lot of "very informed" people stating as a matter of fact that we pay very low wages - without any reference to the accounts! Kieran Maguire (The Price of Football) has just tweeted the following breakdown of wages in the Championship last season. Last year in the Championship, out average wage was £31,000 - obviously some will be on significantly more. This was the second highest in the Championship, after Watford who were a few hundred more. It is reasonable to assume that this will have risen very significantly this season and the average will be over £40,000 per week, despite the ridiculous £20,000 pw ceiling that some quoted. Just thought I'd bring a fact to the debate. Again, this will be an average figure and some will be on a lot more than this.
  2. It looks like the EFL is increasingly likely to adopt the new FFP rules (profit and sustainability). After a transition period it is expected that clubs will have maximum spend of 70% of turnover on wages + amortisation. This could a game-changer for English football, with consequences on wage levels and transfer fees particularly outside the premier league. It seems likely that parachute payments will be part of the deal (it has been bubbling under for a while now). This would make it (even) harder for newly promoted teams + give huge problems to relegated teams - so surely there will have to be some form of protection? Of course the devil will be in the detail, but generally I think it will be a good thing - NCFC share holders might even get a return on their shares! 😁 https://www.telegraph.co.uk/football/2022/04/08/cost-controls-wild-west-championship-finally-sight/
  3. https://www.ft.com/content/046f23d1-1ac8-4495-99a3-df32d8a3b423?shareType=nongift More evidence, were it needed, hat there is not really an investment case to buy football clubs (unless as a bargain forced by a distressed seller). Private equity prefers to lend money to football (debt financing) rather than club ownership. It is interesting (to me anyway) that private equity companies are doing deals with Leagues rather than clubs and are therefore guaranteed a share of future TV revenues. So much safer than investing in clubs. Premier league by 201-20 had nearly £4 billion of cumulative debt* at a time when TV deal growth is slowing. Even companies as big as BT got their fingers burnt and were looking for an escape route. Be interesting to see if its a bubble that bursts or a slow puncture in a tyre that slowly deflates. Either way, it is a good time to stay solvent and provides hope for City in the medium term as long as they do not do anything silly. (*not all of it bad - Spurs use their new stadium to generate a lot of extra income)
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