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A Load of Squit

Safe, sensible hands guiding the club

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Not good news.

So much for the club rolling in money brigade.

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Posted (edited)

Never has the term 'Ignore the noise' been more important. It would be easy for the club to have been persuaded to do a u-turn when it comes to furloughing non-playing staff and obviously in an ideal world this would not have happened. Kensell, Webber and co. have continued to make the best decisions for the long-term benefit of the club which is as important now as it has ever been.

Hearing the estimated figures that we as one of the best-run teams in the country could lose due to coronavirus really puts into perspective how serious this is going to be for those less well run. Clubs are surely going to fall like dominoes.

Worrying times for football but NCFC doing everything right for me so far.

Edited by York Canary
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14 minutes ago, ricardo said:

Not good news.

So much for the club rolling in money brigade.

It's a very confusing statement. 

We're talking about a possible £35m hole in the budget.

But we aren't talking about trying to save some money from our biggest cost base in the organisation. 

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Must admit I’m really concerned by the article.

Appreciate we could lose a quarter of this years money but the forecasted poss loss is staggering.

Not sure I agree with OP and I’m now questioning how we are being so badly hit. The premier league is meant to be the promised land of riches. And we basically spent nothing.

Im now thinking we may have been over generous with the new contracts for the players and managers in the summer. Have we spent a fortune on players not quite good enough for premier league players  and should actually have let them go and bought different ones.

i admired the loyalty at the time but now not so sure. Especially given potential collapse of transfer values will seriously diminish what we might get for Godfrey, Arrons, Buendia etc.

I have a horrible feeling that in 5 years we’ll have the ‘newStuart Webber’ saying he can’t believe how poorly we managed our finances when we were last promoted.

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40 minutes ago, A Load of Squit said:

 

The figure that stands out is the estimated £9m loss in match-day revenue from playing behind closed doors. Fans get fixated by the TV money but for us in the Premier League non-TV money is a significant part of our income. And in this case a significant part of this potential overall loss.

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7 minutes ago, king canary said:

It's a very confusing statement. 

We're talking about a possible £35m hole in the budget.

But we aren't talking about trying to save some money from our biggest cost base in the organisation. 

Because we can't. If players are not paid in full, they can walk away from the club and their contract and join another club for free. That is how players contracts are drawn up in the football world. The club is protecting its investment in the players.

There may well be some big sales made in the summer.

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Its also an appalling indictment of the game as a whole. It has to go back to clubs being self financed. We are attmepting to compete with clubs who are not self financed.

The football world must be losing so much support even from those who follow the game closely.

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19 minutes ago, king canary said:

But we aren't talking about trying to save some money from our biggest cost base in the organisation. 

We can't they are binding contracts. You might as well suggest that we refuse to pay VAT - it would be equally practicable.

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Posted (edited)

We really should not be surprised at anything in this troubling chapter for football in general and Norwich City who are obviously very close to our hearts.

However i will make a judgement on our particular situation once the forensic financial experts post on this thread, the same ones who were constitutional experts on the Brexit thread and are currently advising the Government and its medical team via this forum on how to deal with the Coronavirus crisis.

Edited by TIL 1010
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28 minutes ago, rock bus said:

Must admit I’m really concerned by the article.

Appreciate we could lose a quarter of this years money but the forecasted poss loss is staggering.

Not sure I agree with OP and I’m now questioning how we are being so badly hit. The premier league is meant to be the promised land of riches. And we basically spent nothing.

Im now thinking we may have been over generous with the new contracts for the players and managers in the summer. Have we spent a fortune on players not quite good enough for premier league players  and should actually have let them go and bought different ones.

i admired the loyalty at the time but now not so sure. Especially given potential collapse of transfer values will seriously diminish what we might get for Godfrey, Arrons, Buendia etc.

I have a horrible feeling that in 5 years we’ll have the ‘newStuart Webber’ saying he can’t believe how poorly we managed our finances when we were last promoted.

And presumably bought better quality players on less money? Presumably if we wanted to reduce the wage bill we’d have had to have bought players of lower quality than what we already had, I’m sure everyone would have applauded that show of prudence with ambition 😂

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I'm sorry but I cannot summon any tears for this. It may well be my club suffering but they are part of football and they are also just as obsessed with money because they keep telling us they haven't got any. And the second figure is twice the first so why the difference?

And please do not keep pumping out the Trump like message about contracts. Others have managed to get round this problem because they wanted to get round it. Football at the highest level isn't even attempting to talk about it.

I really hope something good comes out of this. So if we are are a self financing club perhaps we should not worry about the EPL if you cannot make money by being Champions of the EFL. Maybe supporters who are so keen that we are good enough to challenge the big boys will have second thoughts about what they want out of their club.

We will be playing next season, hopefully< we will have a bundle of money whichever way this season pans out, and we will sell a couple of lads to cover the loss.

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Posted (edited)

Let's get this straight.

It's surely a loss of projected income and not a loss as such.

Of course, the longer this goes on the two might become one, but that would need time?

I note that this has been eagerly picked up by the sour grapes suckers down the road, who have also conveniently got it the wrong way around:

"No idea how they've spent £125m this year."

Edited by BroadstairsR
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8 minutes ago, TIL 1010 said:

We really should not be surprised at anything in this troubling chapter for football in general and Norwich City who are obviously very close to our hearts.

However i will make a judgement on our particular situation once the forensic financial experts post on this thread, the same ones who were constitutional experts on the Brexit thread and are currently advising the Government and its medical team via this forum on how to deal with the Coronavirus crisis.

Very wise👍

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11 minutes ago, TIL 1010 said:

We really should not be surprised at anything in this troubling chapter for football in general and Norwich City who are obviously very close to our hearts.

However i will make a judgement on our particular situation once the forensic financial experts post on this thread, the same ones who were constitutional experts on the Brexit thread and are currently advising the Government and its medical team via this forum on how to deal with the Coronavirus crisis.

I’ll just wait for Bill as clearly whatever he says is gospel...

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24 minutes ago, Badger said:

We can't they are binding contracts. You might as well suggest that we refuse to pay VAT - it would be equally practicable.

I must have imagined all the other clubs agreed wage deferral.

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3 minutes ago, king canary said:

I must have imagined all the other clubs agreed wage deferral.

Some of the other clubs have agreed a deferral with their players, but a deferral is just that, they still have to pay them, this isn't just a cashflow problem for us, it's a fundamental profit and loss situation...

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14 minutes ago, ricardo said:

Very wise👍

Seconded. This is uunprecedented . But we are lucky  that TvB is back to give us all moral guidance and Jibberwocky Bilious will of course  have ALL  the answers. So that's the moral and the hypothetical  taken care of. Now all we need Is  the practical nous and savvy on how to actually  get the club out of this mess. 

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Posted (edited)

 

1 hour ago, king canary said:

But we aren't talking about trying to save some money from our biggest cost base in the organisation. 

1 hour ago, king canary said:

But we aren't talking about trying to save some money from our biggest cost base in the organisation. 

No you did not imagine that some have done this. However, it does not save money, it just delays payment. This could have a short-term beneficial effect on cash flow but in the longer run could actually increase costs, especially if there is interest on the deferrals.

So you wouldn't save money, just kick the problem down the road and not face up to it now. the club has behaved very responsibly and in the interests of both the club and the local community.

 

Edited by Badger
Corrected mistake

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4 minutes ago, wcorkcanary said:

Seconded. This is uunprecedented . But we are lucky  that TvB is back to give us all moral guidance and Jibberwocky Bilious will of course  have ALL  the answers. So that's the moral and the hypothetical  taken care of. Now all we need Is  the practical nous and savvy on how to actually  get the club out of this mess. 

Well, that's me out.

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18 minutes ago, JF said:

I’ll just wait for Bill as clearly whatever he says is gospel...

I'll also wait for Bill as clearly whatever he says is good spiel.....

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51 minutes ago, Badger said:

We can't they are binding contracts. You might as well suggest that we refuse to pay VAT - it would be equally practicable.

The execs can presumably decide that they should take a pay cut?  

This demonstration of leadership might then convince the players?

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10 minutes ago, Badger said:

 

 

So you wouldn't save money, just kick the problem down the road and not face up to it now. the club has behaved very responsibly and in the interests of both the club and the local community.

 

Not that you would think so from the views of some on here.

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Posted (edited)
49 minutes ago, keelansgrandad said:

And the second figure is twice the first so why the difference?

Unknowns - e.g. how much TV money will they lose

49 minutes ago, keelansgrandad said:

And please do not keep pumping out the Trump like message about contracts. Others have managed to get round this problem because they wanted to get round it. Football at the highest level isn't even attempting to talk about it.

As you have repeatedly been advised, footballers contracts are different to general employment contracts. If they are not honoured in full, the players could leave on a free and the club would be liable to damages. Your refusal to accept the evidence is Trump-like.

49 minutes ago, keelansgrandad said:

we will sell a couple of lads to cover the loss.

It is very likely that the transfer market will be deflated considerably this summer. Not a good time to sell players.

I like a lot of your posts KG, but I really struggle to understand why you continue to think what you do on this issue. I can only imagine that it is an emotional response rather than an intellectual one - what you think should happen, rather than what you think is possible to put into place.

Edited by Badger
Added a sentence at the top that seems to have been formatted out.

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7 minutes ago, Barbe bleu said:

This demonstration of leadership might then convince the players?

I doubt it. Why would you accept a wage cut especially when the best players know that they could get more elsewhere. I don't see any overall long-term benefit to the club.

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1 hour ago, duke63 said:

Because we can't. If players are not paid in full, they can walk away from the club and their contract and join another club for free. That is how players contracts are drawn up in the football world. The club is protecting its investment in the players.

There may well be some big sales made in the summer.

There will be no big sales come the summer, even the richest of clubs officials like Woodward at Man Utd are saying so.

So if players want to walk away, where are they going to walk too? There is nowhere in the top leagues to play!

as a self financing club, this is certainly not good news, and I think 35m will only be the tip of the iceberg. 

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So the 200 furloughed got an average of £50'000 a year? Or am I being daft? Does the potential loss take into account the sky money, which I thought they had covered? 

Would like those taking most money out of the club to contribute to the well run business in it's hour of need, just as millions are doing to help their businesses at the moment (they all have contracts too) but guess not to be. Do we think the club is doing this to put context into asking us not for refunds etc? Can people afford or are indeed willing to do that? 

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I imagine that a significant portion of player wages are likely to be in the form of bonuses for appearances, winning, avoiding relegation etc. I would really hope that the basic contracts are not overly generous and that a significant amount of the expected wage bill would no longer be due if the games aren't actually played.

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Posted (edited)

Very worrying news.

Massively disappointed by the lack of action by the players and other major wage earners at the club; I guess I bought into the myth of One City Strong.

Fans love the club. Most players/management/coaches don't. It's just a pay cheque. Can't really blame them I guess - I don't love the company that employs me.

OTBC

Edited by Disco Dales Jockstrap
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1 hour ago, TIL 1010 said:

We really should not be surprised at anything in this troubling chapter for football in general and Norwich City who are obviously very close to our hearts.

However i will make a judgement on our particular situation once the forensic financial experts post on this thread, the same ones who were constitutional experts on the Brexit thread and are currently advising the Government and its medical team via this forum on how to deal with the Coronavirus crisis.

I did already... 🤓

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