Safe, sensible hands guiding the club

[nutty nigel 7,530]

I think faux indignation about "the public purse" is virtue signalling. Or maybe it's hypocrisy.

[Capt. Pants 4,226]

The whole thing is a bit vague to me. Projected loss of £18m to £35m, loss of TV revenue £10m to £25m, have we or have we not spent £125m, I would have thought a business with a fixed cost base and no liabilities would have had a better handle on its performance rather than this? Even if you take COVID-19 out of the equation it's pretty shocking and worrying. 

Either way, clearly a self funding model in the EPL doesn't stack up. NCFC needs external investment if it is to be competitive or even survive at this rate. 

[wcorkcanary 4,334]

44 minutes ago, nutty nigel said:

I think faux indignation about "the public purse" is virtue signalling. Or maybe it's hypocrisy.

Especially from a Bank employee. 

[Faded Jaded Semi Plastic SOB 1,023]

1 hour ago, king canary said:

Do you think talking about player wage deferrals/cuts is virtue signalling? Or executive pay? Those will likely be a key part of any financial solutions should the worst of these figures become true.

Perhaps I have not made myself clear, I accept that the club will do whatever it has to do as a business to ensure the long term survival of the club. I do not want Norwich City to disappear and I am not going to take part in club bashing and faux indignation unless it can be demonstrated that they have done something wrong, I accept "virtue signalling" was the wrong term to use and apologise for not using the correct analogy..........

[nutty nigel 7,530]

19 minutes ago, Capt. Pants said:

The whole thing is a bit vague to me. Projected loss of £18m to £35m, loss of TV revenue £10m to £25m, have we or have we not spent £125m, I would have thought a business with a fixed cost base and no liabilities would have had a better handle on its performance rather than this? Even if you take COVID-19 out of the equation it's pretty shocking and worrying. 

Either way, clearly a self funding model in the EPL doesn't stack up. NCFC needs external investment if it is to be competitive or even survive at this rate. 

Of course it's vague. There are no facts in the question which was:

How is the club working and budgeting for worst case scenarios at this stage, in terms of a financial impact?

How would you answer that?

[Jim Smith 2,317]

I'm not outraged at the furloughing thing. I do think its a bit morally questionable for the club to do it rather than ask its better player employees (both players and non players) to take temporary wage cut to cover the period but then as a fan I would obviously rather my club came through this with the minimum financial hit to give us the best chance of success for when things do start up again (regardless of which division we are in).

Where my patience will run out though is if the fans are asked to pick up the tab again in circumstances where others at the club don't take a hit first. I appreciate that has not happened yet but I do fear that this recent little press salvo is a first step towards pleading poverty and asking fans not to take refunds etc. Time will tell. 

[Jim Smith 2,317]

Better paid not "better player"!

[nutty nigel 7,530]

I can't get all worked up about other people's money Jimbo. 

 

[TeemuVanBasten 3,327]

2 hours ago, king canary said:

I'm intrigued, which part of this is virtue signalling to you?

It's truly bizarre how fans have chosen to rationalise this when it comes to Norwich City, when it goes so against the public mood at the moment. 

[TeemuVanBasten 3,327]

13 minutes ago, nutty nigel said:

I can't get all worked up about other people's money Jimbo. 

Is your salary under the income tax threshold then, or are you on the dole? 

 

[TeemuVanBasten 3,327]

1 hour ago, wcorkcanary said:

Especially from a Bank employee. 

What exactly is wrong with banks wcorkcanary? Where else would you store your money? 

Edited April 28, 2020 by TeemuVanBasten

[TeemuVanBasten 3,327]

4 hours ago, Faded Jaded Semi Plastic SOB said:

TVB - As you are an expert on all things financial could you answer the following questions for me please:

Which FTSE 100 Companies have furloughed  their staff

What business sector are they in and how do they compare to the business sector Norwich City are in

What salaries and bonuses do they pay their executives and how do these compare to bonuses/salaries paid to Norwich City  executives

Are the executives of these FTSE 100 companies actually taking a pay cut or are they foregoing bonuses etc

I really need to know before I can even start to be outraged at Norwich City.

And a final question, is Norwich City remaining in business more important than virtue signalling or is it the other way round?.......

If only there was a very well researched article in The Guardian you could seek out, the one I'd mentioned several times, as an alternative to asking to asking me to do your donkey work like an unpaid intern. 

Edited April 28, 2020 by TeemuVanBasten

[TeemuVanBasten 3,327]

30 minutes ago, Jim Smith said:

I'm not outraged at the furloughing thing. I do think its a bit morally questionable for the club to do it rather than ask its better player employees (both players and non players) to take temporary wage cut to cover the period but then as a fan I would obviously rather my club came through this with the minimum financial hit to give us the best chance of success for when things do start up again (regardless of which division we are in).

Where my patience will run out though is if the fans are asked to pick up the tab again in circumstances where others at the club don't take a hit first. I appreciate that has not happened yet but I do fear that this recent little press salvo is a first step towards pleading poverty and asking fans not to take refunds etc. Time will tell. 

Can you remember when the club asked the fans to give up their relegation season ticket rebate on the promise that Michael Foulger would match every pound generated? 

And then it later transpired that it was a loan from Foulger and the club repaid him?

That was the last time I participated in one of the clubs begging bowl moments. 

[nutty nigel 7,530]

6 minutes ago, TeemuVanBasten said:

Is your salary under the income tax threshold then, or are you on the dole? 

 

What on Earth have my finances got to do with you?

[TeemuVanBasten 3,327]

1 minute ago, nutty nigel said:

What on Earth have my finances got to do with you?

Well it's fine for you not to care about taxpayers money if you don't pay any isn't it, you just said you don't care about other people's money. 

[TeemuVanBasten 3,327]

2 hours ago, nutty nigel said:

I think faux indignation about "the public purse" is virtue signalling. Or maybe it's hypocrisy.

Genuine indignation. 

[king canary 7,604]

9 minutes ago, TeemuVanBasten said:

If there was only a very well researched article in The Guardian you could seek out, the one I'd mentioned several times, as an alternative to asking to asking me to do your donkey work like an unpaid intern. 

Article is here

https://www.theguardian.com/business/2020/apr/27/firms-receiving-coronavirus-help-told-to-cut-executive-pay

Key passage being 'More than a third of FTSE 100 companies, including all those so far publicly claiming taxpayer support for furloughed workers, have already announced cuts to executive pay.'

[king canary 7,604]

7 minutes ago, TeemuVanBasten said:

Can you remember when the club asked the fans to give up their relegation season ticket rebate on the promise that Michael Foulger would match every pound generated? 

And then it later transpired that it was a loan from Foulger and the club repaid him?

That was the last time I participated in one of the clubs begging bowl moments. 

I might be misremembering but I also seem to recall you had to 'opt in' to get your rebate which I remember pissed my dad off a fair bit at the time.

[nutty nigel 7,530]

4 minutes ago, TeemuVanBasten said:

Well it's fine for you not to care about taxpayers money if you don't pay any isn't it, you just said you don't care about other people's money. 

Seriously, I do not care about other people's money.

Now you seem to care about mine?

[TeemuVanBasten 3,327]

10 minutes ago, nutty nigel said:

Seriously, I do not care about other people's money.

Now you seem to care about mine?

Clearly gone well over your head. Perhaps ask your son, a talented writer, to help you out with comprehension. 

Edited April 28, 2020 by TeemuVanBasten

[Kenny Foggo 1,116]

51 minutes ago, nutty nigel said:

I can't get all worked up about other people's money Jimbo. 

 

Are you a board member?

[nutty nigel 7,530]

18 minutes ago, TeemuVanBasten said:

Clearly gone well over your head. Perhaps ask your son, a talented writer, to help you out with comprehension. 

I wonder if we'll get your original id before the day's out. It's coming......

[nutty nigel 7,530]

9 minutes ago, Kenny Foggo said:

Are you a board member?

No. I don't hide who I am. But who are you?

[TeemuVanBasten 3,327]

24 minutes ago, nutty nigel said:

I wonder if we'll get your original id before the day's out. It's coming......

What on earth has that got to do with you and why do you care so much about other posters internet history. 

Edited April 28, 2020 by TeemuVanBasten

[TeemuVanBasten 3,327]

25 minutes ago, nutty nigel said:

No. I don't hide who I am. But who are you?

He's Kenny Foggo, used to play on the wing for us back in the day. Still talked about in the City Stand to this day, great player. Show some respect to a legend! 

Edited April 28, 2020 by TeemuVanBasten

[wcorkcanary 4,334]

1 hour ago, TeemuVanBasten said:

What exactly is wrong with banks wcorkcanary? Where else would you store your money? 

In a biscuit  tin. Under my pink elephants bed. 

I'll tell you what's wrong with banks when you come up with that Webber  quote.  Hows that for a non  profit  transaction?

[nutty nigel 7,530]

12 minutes ago, TeemuVanBasten said:

What on earth has that got to do with you and why do you care so much about other posters internet history. 

My money and my family have nothing to do with you. So I thought I'd just have a little rattle to see if anything fell out....

[TIL 1010 4,738]

Did you bother to e-mail Ben Kensell and enquire who the current CFO is TVB ?

[TeemuVanBasten 3,327]

3 minutes ago, nutty nigel said:

My money and my family have nothing to do with you. So I thought I'd just have a little rattle to see if anything fell out....

I know your son is a writer because he used to share his blog posts on here. 

Now you are talking like you want to send the boys round. 

[TeemuVanBasten 3,327]

9 minutes ago, wcorkcanary said:

I'll tell you what's wrong with banks

Is your problem with banks the government bailout some of them received in 2009? 

Edited April 28, 2020 by TeemuVanBasten