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dhickl

Highest paid directors

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https://www.theguardian.com/football/2017/jun/01/premier-league-finances-club-by-club

I few interesting things here, but one that stands out is the highest paid directors at each club - only the likes of Woodard at Man U, Levy at Spurs, Arsenal and Villa are paid more than McNally was.

The Highest paid Director at Chelsea was on £220k, and McNally was 10 times that!! I know that was probably due to clearing the debt and getting the club promoted, but still, can he negotiate my salary for me please.

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Yes, lets only talk about what you want to talk about.

The fact is, an article was published today that mentions Norwich. I was posting a link to it, and pointing out what I thought was interesting in it.

So DDD, for future reference can you give me a list of approved subjects that can be mentioned on here?

...or if you don''t like it, just ignore it, don''t complain and go to the next post, and leave it to people who are interested in discussing the article.

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[quote user="norfolkngood"]i very much doubt the highest paid director at chelsea working for one of the richest men in the world gets 220k !!![/quote]

It depends on where they are from, if they are living overseas, they can be employed as a director, then also have a ''consulting company'' that provides advice, and get paid that way without having the tax bill - and this would be general expense not directors remuneraton. However, if they are UK based that becomes a lot more difficult for tax avoidance schemes.

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It''s a rehash of an old article, were we in the premier league last season? McNally was sacked during the season and wasn''t even our last director before Webber

You just want to counter any good news with a swipe at the club

Old news, get over it

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[quote user="dhickl"]https://www.theguardian.com/football/2017/jun/01/premier-league-finances-club-by-club

I few interesting things here, but one that stands out is the highest paid directors at each club - only the likes of Woodard at Man U, Levy at Spurs, Arsenal and Villa are paid more than McNally was.

The Highest paid Director at Chelsea was on £220k, and McNally was 10 times that!! I know that was probably due to clearing the debt and getting the club promoted, but still, can he negotiate my salary for me please.[/quote]You have included £1.35m for loss of office in the McNally figure. His salary for the 11 months to him leaving was £743,000. As to Chelsea, it is not clear that they have a chief executive as such, which would be the equivalent of McNally. There are only three directors, one of whom seems to have only sort-of taken over from the CEO who left in 2014. She may be getting the £220,000. It may also be that because Chelsea as a club is owned by another company (Fordstam) someone in Fordstam is getting paid as CEO but so doesn''t show up in the Chelsea accounts.

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I think you''ve been a bit selective with the facts there as it clearly says it included compensation for leaving. I think the fact McNally is not in another job is quite telling. I wonder if part of the terms of him getting a full pay off is that he''s on "gardening leave" until his contract would''ve expired?

Here''s the full text of what they said about us, although without seeing it against other teams it''s easy to take it out of context:-

Turnover £98m (16th highest in the league)

Wages £67m (18th highest, 68% of turnover)

Profit before tax £9m (following £5m loss in 2015)

Ownership Delia Smith and her husband Michael Wynn Jones own 53.1% of the club’s shares; deputy chairman Michael Foulger owns approximately 16%

Gate receipts £12m

Broadcasting and media £70m

Catering £4m

Commercial & other income £12m

Net debt Not stated; £2.7m bank overdraft, no directors’ loans.

Interest payable £1.8m

Highest-paid director Unnamed, £2.149m including compensation for leaving (David McNally was the chief executive who left the club on May 31 2016)

State they’re in The quantum gap between the Premier League and Football League is illustrated by Norwich’s 2014-15 TV income of £29m, boosted by parachute payments, instantly increasing by £41m on promotion. These figures reflect a prudent approach to yo-yoing after aiming for survival by increasing the wage bill, but not risking financial crisis from the failure to do so. The long-term effort under Smith and Wynn Jones has been to build a strongly supported club and minimise debt. Apart from a £3m bank overdraft secured on Premier League parachute payments, the club had no borrowings and directors’ loans of £2m were repaid.

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Now I know why I don''t use this board very much.

This wasn''t a swipe at the club, I just wanted to post a new article (less than 3 hours old) that I thought was interesting and discuss it with others - note, I deliberately made my comment neutral and didn''t criticise or praise anyone. In fact, you will struggle to find a post from me criticising the club.

However, immediately after I post it doesn''t fit with what someone wants , rather than being constructive and having a conversation about it, they start moaning.

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[quote user="PurpleCanary"][quote user="dhickl"]https://www.theguardian.com/football/2017/jun/01/premier-league-finances-club-by-club

I few interesting things here, but one that stands out is the highest paid directors at each club - only the likes of Woodard at Man U, Levy at Spurs, Arsenal and Villa are paid more than McNally was.

The Highest paid Director at Chelsea was on £220k, and McNally was 10 times that!! I know that was probably due to clearing the debt and getting the club promoted, but still, can he negotiate my salary for me please.[/quote]You have included £1.35m for loss of office in the McNally figure. His salary for the 11 months to him leaving was £743,000. As to Chelsea, it is not clear that they have a chief executive as such, which would be the equivalent of McNally. There are only three directors, one of whom seems to have only sort-of taken over from the CEO who left in 2014. She may be getting the £220,000. It may also be that because Chelsea as a club is owned by another company (Fordstam) someone in Fordstam is getting paid as CEO but so doesn''t show up in the Chelsea accounts.[/quote]

Good point, I didn''t realise the payoff was that much, still on a good salary though. Fair play to him - I don''t begrudge anyone their salary, as they negotiated it.

I''m also surprised at some of the revenues from tickets - I would expect Norwich to be similar to teams like Leicester and Palace, as it is similar size stadium and crowds, but for a team like Sunderland that has 40,000+ gates to only have a ticket income less than Norwich.

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McNally was being paid too much in my view, particularly in seasons where we failed but then in the interests of fairness and balance he did at least oversee 4 seasons out of the previous 5 in the premier league so his salary was never a major issue for the club.

Also rarely remarked upon was the fact we made a £9m profit whilst getting relegated and paying back £2m in directors loans. hardly smacks of throwing the kitchen sink at survival but then I suppose looking at the sh*t Neil wasted millions on towards the end its probably a good thing he was not allowed to spend another £11 million.

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Thanks dhickl - very interesting.Don''t worry about sarky comments - some people on here have very fixed views!

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In that season many of our players earned more than £2m pa. unlike most mcnally was not just a board member but also had day to day responsibility for the running of the club. And the figures quoted include severance and bonus payments.

Yes he was exceptionally well paid but - for most of his tenure he was value for money if flawed.

If you want to question value for money the players are a much easier target.

The cost of running the club is shocking (£120m pa minimum budget for a PL club, £12m pa for even Rotherham in the champs) and increasingly disconnected from the real world

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McNally did a grand job and got paid handsomely for it. I''m sure when he first started with us he wasn''t paid that well, but the success of the club would have given him the bonuses he earned. I see nothing wrong with that given the financial position he took over in compared to leaving us in. The figure bandied above does also cover the compensation required to terminate the contract, so isn''t a reflection on his actual annual salary. Was it probably a lot of money? Yes. But he also got us into the Premier League (supposedly the best league in the world) several times, wrote off all our debt and oversaw some of the most successful periods in our recent history, which included spending our largest amount of transfers funds ever (which sadly includes a few notable flops) and a memorable play-off victory at Wembley.

But alas, he is history now, and the finances are history too, so no point worrying about it now

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