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huggybear

Why does something like this not get any attention?

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If this is true, I don''t know if it is, why isn''t it worth discussing? I suppose it is boring, but is it any different to all those that question the bonuses at Local Government level?

Why does the local media not report this issue, like the situation of making all incoming transfers fees undisclosed? Is the club not accountable and transparent? I feel it''s a shame that the independent Supporters Club is no longer running to question issues like this. It is the fans money after all.

http://www.sportsdirectnews.com/sports-business/7592-canaries-chief-pockets-1m-bonus.php

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[quote user="huggybear"]

If this is true, I don''t know if it is, why isn''t it worth discussing? I suppose it is boring, but is it any different to all those that question the bonuses at Local Government level?

Why does the local media not report this issue, like the situation of making all incoming transfers fees undisclosed? Is the club not accountable and transparent? I feel it''s a shame that the independent Supporters Club is no longer running to question issues like this. It is the fans money after all.

http://www.sportsdirectnews.com/sports-business/7592-canaries-chief-pockets-1m-bonus.php

[/quote]

 

Break it down, and its approx £12k per week basic and a bonus for making profits on a multi miilion pound business.

So he gets a wage that matched (?), the top player, yet had far more influence on the Club than one player. What would make an acceptable bonus (% wise), £20k, £100k, £500k? Bankers etc get much bigger bonuses from companies/institutiuons that make losses! Absolutely no complaints from me

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All sounds fair and above aboard to me.

LDC - maybe the pink in thought it was a non story? After all a CEO being paid a bonus is not really that crazy is it?

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[quote user="pablofarmer"]All sounds fair and above aboard to me. LDC - maybe the pink in thought it was a non story? After all a CEO being paid a bonus is not really that crazy is it?[/quote]

 

Agreed, but it is of interest, nevertheless - and for his influence, he deserves it.

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Deserves every penny of it...wouldnt be here or where we are without him !

Anyway if a disloyal person gets his then why shouldnt a Loyal person ?

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Fulham had slightly higher turnover than ourselves of £79m, but had losses of over £18m!!!!

The longer we stay in the Premier League, the more imperative it will be to have the right man at the helm.

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“He’s an outstanding operator. One of the best in the business,” commented respected football business consultant, Mark Ashton.

“McNally is one of the heartbeats of Norwich. He is a key figure in their success and he deserves every penny he has earned.”

What more needs to be discussed or questioned?

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[quote user="crabbycanary"]

Break it down, and its approx £12k per week basic and a bonus for making profits on a multi miilion pound business.

So he gets a wage that matched (?), the top player, yet had far more influence on the Club than one player. [/quote]

 

I have no doubt that his basic salary (c£12k) was well below that of our top earner that season,  which I suspect was closer to the £20k pw mark before bonus'' for the prem.    This season that figure will be significantly higher with the experience brought in with Bassong (newcastle and spurs wage background) Turner (sunderland) and Holt reportedly wage matching the highest earner.

 

As you say his influence on the club is as great if not more important than their 38-44 individual appearances and if we are able to become virtaully debt free in the summer a £1m bonus each year is well deserved - and probably still well below what the top paid individual player will earn.

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[quote user="ZippersLeftFoot"][quote user="crabbycanary"]

Break it down, and its approx £12k per week basic and a bonus for making profits on a multi miilion pound business.

So he gets a wage that matched (?), the top player, yet had far more influence on the Club than one player. [/quote]

 

I have no doubt that his basic salary (c£12k) was well below that of our top earner that season,  which I suspect was closer to the £20k pw mark before bonus'' for the prem.    This season that figure will be significantly higher with the experience brought in with Bassong (newcastle and spurs wage background) Turner (sunderland) and Holt reportedly wage matching the highest earner.

 

As you say his influence on the club is as great if not more important than their 38-44 individual appearances and if we are able to become virtaully debt free in the summer a £1m bonus each year is well deserved - and probably still well below what the top paid individual player will earn.

[/quote]

I have to agree, the man is top notch and deserves every penny of it and we should all feel great that the club has achieved so much in such a short time and most of it is down to him, He has saved the sinking ship so to speak.  

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[quote user="huggybear"]

If this is true, I don''t know if it is, why isn''t it worth discussing? I suppose it is boring, but is it any different to all those that question the bonuses at Local Government level?

Why does the local media not report this issue, like the situation of making all incoming transfers fees undisclosed? Is the club not accountable and transparent? I feel it''s a shame that the independent Supporters Club is no longer running to question issues like this. It is the fans money after all.

http://www.sportsdirectnews.com/sports-business/7592-canaries-chief-pockets-1m-bonus.php

[/quote]

It''s not my money, is it yours? I''d like to know why you think so.

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The club has gone from an operating loss of £4.6m to an operating profit of £18m and has increased revenues from £17m to £23.3m to £74.6m.

In any other business, the CEO that oversees that type of turnaround would receive far more than £1m bonus.

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I thought this had been discussed loads. I think it''s been reported in the local media too. The story is from last year when the accounts were announced. It was also available for discussion by shareholders at the agm. If the shareholder''s are happy how can it possibly anyone elses money. If the shareholders are unhappy they had their chance...

 

 

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[quote user="huggybear"]

Why does the local media not report this issue, like the situation of making all incoming transfers fees undisclosed? Is the club not accountable and transparent? I feel it''s a shame that the independent Supporters Club is no longer running to question issues like this. It is the fans money after all.

[/quote]

 

The fans are a customer.  It is no longer "the fan''s money" when it is handed over for the ticket/shirt/pie/etc.

 

Why should they have to tell their fans how much they spend on things.  Tescos don''t tell the customers (or shareholders) how much they pay for for a shop or piece of land, or even how much they pay their shop managers.  You also didn''t see many headlines making big issues of the former CEO of Tescos getting a bonus when he increased their profits. 

 

I''m sorry but the club is a business, and if you think it is not, you are just naive.

 

 

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It is big money (he gets paid more than the CEO of Sony for example) but he could certainly earn the same kind of salary at another Premier League club - I''d certainly rather he was at Norwich than wasn''t.

 

I''d also imagine his bonuses for his part in getting Norwich into the Premier League will be larger than those for helping the club stay there.

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Leaving aside the wider issue of that kind of level of ''bonus'' for a single individual in any business arena - which is a separate argument - if they are going to be paid, his are the circumstances that allow for it. He has brought unparalleled success to the business and his efforts have had positive impacts not just for the business but for it''s staff and for Norwich as a whole. Not many who receive phat bonuses can say that.

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The salary is one for the board.  The bonus you would hope is based on scientific principles rather than the whim of the major shareholder.  At the time of the AGM when a few eyebrows were raised, although not defining how the bonus was calculated there were hints that it was directly linked to performance both on and off the pitch, but mainly to off the pitch as you would expect for a non-playing member of staff.  As long as the basis of that calculation is followed consistently (and McNally being the shrewd operator he is you would expect it is written into his contract to avoid doubt anyway) then it cannot be argued with. 

 

The club is only forecasting a surplus this year of £5M, so when the accounts are published in November you would expect to see a reduction in the bonus payment. 

 

The question then becomes the perennial issue for a board, who faced with the potential of their CEO being poached, how to keep him on board through the reward structure.  Therre have been recent changes of CEO''s at other EPL clubs so it is possible someone may come and ask him to jump ship.  Would sticking to principle of current contract be something you would follow rather than keep him here?  That is the question and personally, I have been a fan of him to date, but as time goes by I am getting more ambivalent on that question. 

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That''s an excellent point Shef.

If we were to lose DM to another Club willing to reward him more highly, I''m sure the club would be slaughtered for its ''small potatoes'' approach.

DM has done a great job and deserves everything he gets. Don''t forget he''s the man that recruited Lambo in the first place.

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[quote user="shefcanary"]

The salary is one for the board.  The bonus you would hope is based on scientific principles rather than the whim of the major shareholder.  At the time of the AGM when a few eyebrows were raised, although not defining how the bonus was calculated there were hints that it was directly linked to performance both on and off the pitch, but mainly to off the pitch as you would expect for a non-playing member of staff.  As long as the basis of that calculation is followed consistently (and McNally being the shrewd operator he is you would expect it is written into his contract to avoid doubt anyway) then it cannot be argued with. 

 

The club is only forecasting a surplus this year of £5M, so when the accounts are published in November you would expect to see a reduction in the bonus payment. 

 

The question then becomes the perennial issue for a board, who faced with the potential of their CEO being poached, how to keep him on board through the reward structure.  Therre have been recent changes of CEO''s at other EPL clubs so it is possible someone may come and ask him to jump ship.  Would sticking to principle of current contract be something you would follow rather than keep him here?  That is the question and personally, I have been a fan of him to date, but as time goes by I am getting more ambivalent on that question. 

[/quote]

 

This has been debated here before, but no reason why the OP should have come across it. The figure in the article of an overall salary and bonus package for McNally of £1.533m is right and not right. The salary and bonuses (plural) came to £1.389m with the additional  £144,000 coming from contributions to his pension.

The explanation for the bonuses is that they were for "achieving an improved financial performance and retention of Premier League status". Of course the two are inextricably linked, but with a potential time lag, in that gaining PL status in 2010/11 meant our financial results n 2011/12 were better than if we hadn''t been promoted, and staying up last season will help with the current financial year. And if we get relegated this season that in effect won''t show up until the 2013/14 results.

Which is related to one of shef''s two very valid points, about the lack of transparency over the criteria for the bonuses, and how precise or not they are. Retaining or not PL status is plainly precise, so if we were to be relegated this season then McNally''s bonus ought to be slashed back. There is even the the argument that the bonuses ought to be eliminated, on the basis of that time-lag linkage meaning next year''s results are bound to be worse.

As to shef''s other point, the dilemma of how hard financially the board should try to keep McNally, I am more of a roundhead on this, and that is not because I don''t rate him as highly as a CEO as do other posters, although I don''t. In general terms I have no argument with him being paid shedloads of cash while we are successful. But a less good financial performance ought to see a reduced bonus and relegation should mean a reversion to his basic salary. If you keep on rewarding him for failure there is  no incentive for him to strive to be successful again.

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[quote user="PurpleCanary"]

But a less good financial performance ought to see a reduced bonus and relegation should mean a reversion to his basic salary. If you keep on rewarding him for failure there is  no incentive for him to strive to be successful again.[/quote]

 

Agree 100% - genuine performance related pay.

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[quote user="ZippersLeftFoot"]

[quote user="PurpleCanary"]

But a less good financial performance ought to see a reduced bonus and relegation should mean a reversion to his basic salary. If you keep on rewarding him for failure there is  no incentive for him to strive to be successful again.[/quote]

 

Agree 100% - genuine performance related pay.

[/quote]

 

Now if only he could get that written into the player''s contracts.

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Whether his performance has been good is open to debate, I would argue that spending all summer looking for a striker, and then January... and not getting one in of top flight quality is not good enough. We are averaging one goal a game and won one away match all season. We will see on the pitch at the end of the season. I don''t see that the club has progressed since the summer, less points than last year. Unwatchable style of football.

Football is a business. What sticks in the throat is when you receive calls as a season ticket holder begging you to donate money to the academy. Like with the season ticket academy payment.... it seems emotional blackmail... not like a business, over issues like this. I don''t think many fans of tesco feel the passion and devotion for the ''brand'' that a football fan does.

With the ticket prices going up and up, we do have the choice not to attend, we vote with our money, but it is easier not to visit a particular shop on principle, rather than stop going to the football ground you have attended for 50 years.

It''s a shame that football clubs aren''t closer to the public sector model, rather than private. Where we are given information. I''m not a socialist, and know it''s not an ideal world.

Fans don''t have the power anymore than any other consumer, but we can give an opinion, they can''t take that away. People on here do try to stifle debate and seem to automatically side with the hierachy. As though everything they do is perfect. Questioning the board is nothing to do with love for the club. The club is bigger than individuals.... they are just passing through.

As you say, McNally would soon jump ship if someone offered him more money.

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As you say, McNally would soon jump ship if someone offered him more money.

 

Out of curiosity, what evidence do you have for saying that?  I don''t know him whereas you obviously do but people I know who know him say he is very settled here and loves the area.  Has he told you something different?

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Well, Bor reckons you get what you pay for, and I would do it for nothing. I literally bleed green and yellow though I reckon it''s time I got that seen to. That can''t be easy to balance a limited budget with the need to maintain top flight footy , though he is lucky in having all us lovely old boys telling him how to spend it.

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[quote user="huggybear"]

Whether his performance has been good is open to debate, I would argue that spending all summer looking for a striker, and then January... and not getting one in of top flight quality is not good enough. We are averaging one goal a game and won one away match all season. We will see on the pitch at the end of the season. I don''t see that the club has progressed since the summer, less points than last year. Unwatchable style of football.

Football is a business. What sticks in the throat is when you receive calls as a season ticket holder begging you to donate money to the academy. Like with the season ticket academy payment.... it seems emotional blackmail... not like a business, over issues like this. I don''t think many fans of tesco feel the passion and devotion for the ''brand'' that a football fan does.

With the ticket prices going up and up, we do have the choice not to attend, we vote with our money, but it is easier not to visit a particular shop on principle, rather than stop going to the football ground you have attended for 50 years.

It''s a shame that football clubs aren''t closer to the public sector model, rather than private. Where we are given information. I''m not a socialist, and know it''s not an ideal world.

Fans don''t have the power anymore than any other consumer, but we can give an opinion, they can''t take that away. People on here do try to stifle debate and seem to automatically side with the hierachy. As though everything they do is perfect. Questioning the board is nothing to do with love for the club. The club is bigger than individuals.... they are just passing through.

As you say, McNally would soon jump ship if someone offered him more money.

[/quote]It''s a limited Company. All you have to do is buy some shares and you will receive an annual report (the most recent of which gave full details of McNally''s remuneration). You can then attend an AGM and ask whatever questions you like.

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Huggy, I can see you are new to this forum - if you were a regular you''d know that most of the posters on here are pretty much anti-establishment - see the amount of stick Hughton has been getting despite achieving a healthy league position.

It does strike me as somewhat harsh to blame DM for our bad away form though! Last time I checked, he didn''t pick the team and tactics. He helped to pick the manager, and so bears responsibility in relation to that, but DM can only really be judged on the number of points that the manager has accrued, which has been a very healthy 28 so far. In my view, only the naive could say that Hughton has been a failure this season.

The arguments regarding prices etc are perhaps more justified. All I will say is that the Club has moved mountains to improve the financial position, I cannot see us ever being in the mess we were in 3 years ago under DM''s watch. The fact that we are even in the mix to sign a £7m rated striker is a tribute to how far we have progressed under his leadership.

No one is saying DM is perfect, but he couldn''t have done much better in my view since walking through the door.

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