"Our financial position is dire," Delia told the club's annual meeting last week

[They need to EARN the right to play us 0]

http://www.telegraph.co.uk/sport/football/leagues/championship/3465296/Problems-mount-up-for-Norwich-City-as-Delia-Smith-feels-the-heat-Football.html

So what will that do to the size of any offers made for assets we need to sell to support the Phase 2 development fiasco?

[DEB (never forgotten) 0]

According to Doomcaster - our financial position is ''robust'', & supporters should ''take comfort from the Accounts''!!!!!!!!!!! - adequately covered in Fram''s recent & popular post.

The Chairman insists that administration is unlikely.

At the AGM Smith inadvertently confirms that the financial condition of the club is ''dire''.

This is little surprise - several years ago the club confirmed that the £70k signing of Carl Robinson was only achieved after members of the board provided loans for this purpose. Currently, we have to go ''cap in hand'' to a supporter (Moore) to enable the Manager to bring a player in on loan.

Next month £2.5m is needed to make settlement of a Bank loan agreement.

What a mess!!!!!!!!!!

BILLIONAIRE CITY FAN INTERESTED IN HELPING US OUT?

SMITH WILLING TO NEGOTIATE SALE?

[Mello Yello 2,315]

Well, they are the DIREctors.......after all.

[DEB (never forgotten) 0]

In the past 3 years we have received two years of ''parachute'' monies £14.2m & generated a profit in excess of £12m in player transfer trading.

A new home shirt issue will have seen a healthy profit achieved on around 20,000 sales, & all season tickets sold again for the start of this season. In addition, we are told that Catering produces a significant profit.

I realise that ''the wage bill remains a burden'', but - what the hell is going on?.

At the AGM it was confirmed that the playing budget for this season ''has been spent''.

What are we going to do (Carl Moore!?) when loan players who have (without a doubt) improved our poor /thin squad go back to their parent clubs?

If the multi-million pound income relevant to the past few seasons has all gone (mainly - it seems - on player wages!) then that is purely as a result of decisions made at board level.

It seems remarkable that some supporters come on this message board attempting to endorse decisions made by the board of directors with regard to their management of the club''s finances.

 

[Mr.Carrow 380]

DEB- the player wage thing is a complete red herring.  As a percentage of turnover player wages have been way lower since promotion than they were before it.  The figure you most often see bandied about is that p.wages shouldn`t be more than 50% of turnover (but most clubs exceed this).  Our figure was 29% in the Prem, 34% the first season back down, then 31% the following season.

[FramCanary 0]

[quote user="Mr.Carrow"]DEB- the player wage thing is a complete red herring.  As a percentage of turnover player wages have been way lower since promotion than they were before it.  The figure you most often see bandied about is that p.wages shouldn`t be more than 50% of turnover (but most clubs exceed this).  Our figure was 29% in the Prem, 34% the first season back down, then 31% the following season.[/quote]

In which case, they use this as a smokescreen to hide overhead expenditure which must have spiralled out of control!?.

[National express super guard 0]

I think the club appearing to hide the truth is what annoys most fans. the silence at times is deafening. I thought we were gonna be transparent, but as soon as questions are asked us fans are treated like imbeciles

[Mr.Carrow 380]

[quote user="FramCanary"]

[quote user="Mr.Carrow"]DEB- the player wage thing is a complete red herring.  As a percentage of turnover player wages have been way lower since promotion than they were before it.  The figure you most often see bandied about is that p.wages shouldn`t be more than 50% of turnover (but most clubs exceed this).  Our figure was 29% in the Prem, 34% the first season back down, then 31% the following season.[/quote]

In which case, they use this as a smokescreen to hide overhead expenditure which must have spiralled out of control!?.

[/quote]

IMO, in a word, YES.

[The Fish Seller 0]

[quote user="National express super guard "]I think the club appearing to hide the truth is what annoys most fans. the silence at times is deafening. I thought we were gonna be transparent, but as soon as questions are asked us fans are treated like imbeciles[/quote]Yes.  The overall wage bill for the club, the player wage bill and the playing budget are three very different entities representing three very different amounts/percentages of turnover yet the Club and our CE in particular seem to be unable to differentiate between any of these figures. (Especially when it suits him/them).

[a1canary 0]

What i want more explanation for is how we have gone from a position of supposed sustainability and managable debts to one of dire-ness (is that a word!?)

With 20,000 season tickets and the second highest gates in the league, we should be able to make a sustainable business. What has happened?

[Mr.Carrow 380]

[quote user="The Prisoner"][quote user="National express super guard "]I think the club appearing to hide the truth is what annoys most fans. the silence at times is deafening. I thought we were gonna be transparent, but as soon as questions are asked us fans are treated like imbeciles
[/quote]

Yes.
 The overall wage bill for the club, the player wage bill and the playing budget are three very different entities representing three very different amounts/percentages of turnover yet the Club and our CE in particular seem to be unable to differentiate between any of these figures. (Especially when it suits him/them).
[/quote]

Spot on.  The trouble is the CE can play with figures to suit himself as much as he likes but 95% of supporters will fall for it instead of looking into things for themselves.

[FramCanary 0]

[quote user="a1canary"]What i want more explanation for is how we have gone from a position of supposed sustainability and managable debts to one of dire-ness (is that a word!?) With 20,000 season tickets and the second highest gates in the league, we should be able to make a sustainable business. What has happened?[/quote]

Makes you laugh - Smith & Jones employ Keith Harris to find a buyer as they now seem intent on selling. Harris (an expert in brokering deals involving sale & aquisition of football clubs) has stated that investors in clubs can expect a return on capital of between 5% & 10%, with no requirement to invest further sums:

“I have been able to demonstrate that if you do it correctly, the club should generate sufficient cash to fund itself,” he said. “So having bought it you shouldn''t have to put more money in unless you choose to. And you can generate a return of 5-10% in the value of the club every year over a period of seven to 10 years.”

This alone, tells you all you need to know about how badly our club is being run.

They have employed Harris, who (in turn) has effectively confirmed that the club is simply not being run correctly from a financial viewpoint.

How ironic!

[BlyBlyBabes 0]

[quote user="a1canary"]What i want more explanation for is how we have gone from a position of supposed sustainability and managable debts to one of dire-ness (is that a word!?) With 20,000 season tickets and the second highest gates in the league, we should be able to make a sustainable business. What has happened?[/quote]

The Turners thought so too.

I suggest that would be a good place to start asking ''what has happened''.

OTBC

 

[BlyBlyBabes 0]

[quote user="FramCanary"]

[quote user="a1canary"]What i want more explanation for is how we have gone from a position of supposed sustainability and managable debts to one of dire-ness (is that a word!?) With 20,000 season tickets and the second highest gates in the league, we should be able to make a sustainable business. What has happened?[/quote]

Makes you laugh - Smith & Jones employ Keith Harris to find a buyer as they now seem intent on selling. Harris (an expert in brokering deals involving sale & aquisition of football clubs) has stated that investors in clubs can expect a return on capital of between 5% & 10%, with no requirement to invest further sums:

“I have been able to demonstrate that if you do it correctly, the club should generate sufficient cash to fund itself,” he said. “So having bought it you shouldn''t have to put more money in unless you choose to. And you can generate a return of 5-10% in the value of the club every year over a period of seven to 10 years.”

This alone, tells you all you need to know about how badly our club is being run.

They have employed Harris, who (in turn) has effectively confirmed that the club is simply not being run correctly from a financial viewpoint.

How ironic!

[/quote]

Where is your reference for this Fram?

OTBC

[FramCanary 0]

[quote user="BlyBlyBabes"][quote user="FramCanary"]

[quote user="a1canary"]What i want more explanation for is how we have gone from a position of supposed sustainability and managable debts to one of dire-ness (is that a word!?) With 20,000 season tickets and the second highest gates in the league, we should be able to make a sustainable business. What has happened?[/quote]

Makes you laugh - Smith & Jones employ Keith Harris to find a buyer as they now seem intent on selling. Harris (an expert in brokering deals involving sale & aquisition of football clubs) has stated that investors in clubs can expect a return on capital of between 5% & 10%, with no requirement to invest further sums:

“I have been able to demonstrate that if you do it correctly, the club should generate sufficient cash to fund itself,” he said. “So having bought it you shouldn''t have to put more money in unless you choose to. And you can generate a return of 5-10% in the value of the club every year over a period of seven to 10 years.”

This alone, tells you all you need to know about how badly our club is being run.

They have employed Harris, who (in turn) has effectively confirmed that the club is simply not being run correctly from a financial viewpoint.

How ironic!

[/quote]

Where is your reference for this Fram?

OTBC

[/quote]

http://new.edp24.co.uk/content/sport/norwichcity/story.aspx

[FramCanary 0]

[quote user="BlyBlyBabes"][quote user="FramCanary"]

[quote user="a1canary"]What i want more explanation for is how we have gone from a position of supposed sustainability and managable debts to one of dire-ness (is that a word!?) With 20,000 season tickets and the second highest gates in the league, we should be able to make a sustainable business. What has happened?[/quote]

Makes you laugh - Smith & Jones employ Keith Harris to find a buyer as they now seem intent on selling. Harris (an expert in brokering deals involving sale & aquisition of football clubs) has stated that investors in clubs can expect a return on capital of between 5% & 10%, with no requirement to invest further sums:

“I have been able to demonstrate that if you do it correctly, the club should generate sufficient cash to fund itself,” he said. “So having bought it you shouldn''t have to put more money in unless you choose to. And you can generate a return of 5-10% in the value of the club every year over a period of seven to 10 years.”

This alone, tells you all you need to know about how badly our club is being run.

They have employed Harris, who (in turn) has effectively confirmed that the club is simply not being run correctly from a financial viewpoint.

How ironic!

[/quote]

Where is your reference for this Fram?

OTBC

[/quote]

http://new.edp24.co.uk/content/sport/norwichcity/story.aspx?brand=EDPOnline&category=SportNorwich&tBrand=edponline&tCategory=SportNorwich&itemid=NOED13%20Nov%202008%2000%3A22%3A12%3A923

[FramCanary 0]

I wonder if Harris has considered Cullum?.

[A Load of Squit 5,245]

So, Mr Fram Canary, as someone who does a full study of the accounts can you tell us how this happened?

 

[The Fish Seller 0]

“I have been able to demonstrate that if you do it

correctly, the club should generate sufficient cash to fund itself,” he

said. “So having bought it you shouldn''t have to put more money in

unless you choose to. And you can generate a return of 5-10% in the

value of the club every year over a period of seven to 10 years.”We have actually generated this type of return over the last 7-10 year period primarily as a result of the parachute payments and profits on player trading, our problem has been that any such profits have simply disappeared and not been reinvested in the areas which generated them in the first instance (or banked long term). I am firmly of the belief that a policy of balancing the books annually to present a brighter picture of the Clubs finances (possibly to attract a buyer) has been implemented and that such a policy has severely prejudiced the operation of the Club over a longer term.