Author Topic: Wba end of year finances 2018-19  (Read 2906 times)

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gazberg

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Wba end of year finances 2018-19
« on: April 01, 2020, 10:26:12 AM »
https://twitter.com/mjmarr_star/status/1245278903519924224?s=19

Post-balance sheet notes reveal #wba made a profit of nearly £18m in player sales last summer (Dawson, Rondon, Rodriguez). Strategic report confirms aim of "radically reducing" average age of squad+Darren Moore sacked due to genuine fears they would miss out on the play-offs.


Masi later stated the above and wage bill halved as revenue fell by over 50m

https://www.expressandstar.com/sport/football/west-bromwich-albion/2020/04/01/west-brom-accounts-reveal-7m-losses/


leeiswba

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Re: Wba end of year finances 2018-19
« Reply #1 on: April 01, 2020, 11:35:53 AM »
We are still a very well run club, honestly don’t get some of the **** the board and that get sometimes.
« Last Edit: April 01, 2020, 03:45:18 PM by MarkW »

Albionic

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Re: Wba end of year finances 2018-19
« Reply #2 on: April 01, 2020, 12:39:49 PM »
I am starting to question 'what is the benefit of being a well run club?" when you see what

a) the boundary pushing owner / agent thing at Knuckledraggers inc and
b) the Squeal sanctuarys flagrant disregard of all financial integrity

results in, maybe we should join the vermin in the pigs trough !!   I am running out of time waiting for the "bubble" to burst and want to see us competitive again.
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KN22

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Re: Wba end of year finances 2018-19
« Reply #3 on: April 01, 2020, 01:00:15 PM »
I am truly shocked by the staggering wage bill at the club. Goodness knows what the wages per man were in the premier league (it has to be something like £60K+ per man on average for first team) Even now in the championship it is safe to assume from the numbers shown that many still earn £40k plus per week. I love the game and miss it badly at present. I do however think these salary levels are obscene.

paulosull

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Re: Wba end of year finances 2018-19
« Reply #4 on: April 01, 2020, 02:14:14 PM »
I am truly shocked by the staggering wage bill at the club. Goodness knows what the wages per man were in the premier league (it has to be something like £60K+ per man on average for first team) Even now in the championship it is safe to assume from the numbers shown that many still earn £40k plus per week. I love the game and miss it badly at present. I do however think these salary levels are obscene.
mind boggling figures for the average Joe soap.

gazberg

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Re: Wba end of year finances 2018-19
« Reply #5 on: April 01, 2020, 02:17:09 PM »
I am truly shocked by the staggering wage bill at the club. Goodness knows what the wages per man were in the premier league (it has to be something like £60K+ per man on average for first team) Even now in the championship it is safe to assume from the numbers shown that many still earn £40k plus per week. I love the game and miss it badly at present. I do however think these salary levels are obscene.

I think our top earners are on around 30-35k p/w in the Champo so Gibbs and Brunt will be up there or thereabouts. Mental.

TheJacko2000

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Re: Wba end of year finances 2018-19
« Reply #6 on: April 01, 2020, 02:49:44 PM »
Geez imagine doing a job whereby you aren't even good/successful enough to be working for a top tier organisation, and yet your annual wage is £1.8 million

Must be nice


The players were good enough, only one reason we went down.


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tommcneill

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Re: Wba end of year finances 2018-19
« Reply #7 on: April 01, 2020, 03:14:35 PM »
Good enough to being paid astronomical amounts of money?

Bare in mind if Chris Brunt is indeed on 35k a week then he is currently being paid a salary that is £1.67 million more than the prime minister salary

One is a publically funded position, the other a privately funded one. There isnt a comparison.

Dr's earn more than nurses, nurses earn more than care workers. Why?

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TheJacko2000

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Re: Wba end of year finances 2018-19
« Reply #8 on: April 01, 2020, 03:16:37 PM »
Good enough to being paid astronomical amounts of money?

Bare in mind if Chris Brunt is indeed on 35k a week then he is currently being paid a salary that is £1.67 million more than the prime minister salary


Ah so you've gone from intimating they were being paid too much for 2nd tier players, to they're being paid too much full stop.


Extra, extra... Footballers in over-inflated salary shocker... Read all about it.
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baggiejohn

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Re: Wba end of year finances 2018-19
« Reply #9 on: April 01, 2020, 03:18:19 PM »
This really is an old argument, our players are in the entertainment industry & that's what they get paid.
Along with golfers, tennis players, formula 1 drivers etc.

When the economy goes belly up as a consequence of the Coronavirus crisis, entertainers earnings will reduce dramatically.
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Re: Wba end of year finances 2018-19
« Reply #10 on: April 01, 2020, 03:49:17 PM »
Nah you're totally right. Absolutetly no reason whatsoever to discuss football players salaries, especially not during the eve of what will be the deepest economic recession of my grandparents lifetime.

I unreservedly apologise for having the audacity to suggest West Brom players being paid £1.8m is a lot of money.


It's as if you've just woken up after 20 years in hibernation though. No contracts have been signed since the outbreak.
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tommcneill

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Re: Wba end of year finances 2018-19
« Reply #11 on: April 01, 2020, 04:00:26 PM »
Nah you're totally right. Absolutetly no reason whatsoever to discuss football players salaries, especially not during the eve of what will be the deepest economic recession of my grandparents lifetime.

I unreservedly apologise for having the audacity to suggest West Brom players being paid £1.8m is a lot of money.

Not sure what you're trying to prove though?

Footballers have had high salaries for 30+ years or more.....Private healthcare sector Dr's get paid more than public healthcare Dr's......

You cant compare public funded salaries over private funded ones

You might not like it but thats how it is, unless you think we should pay 80% tax on our income so that Dr's etc can then come into line with what footballers get paid by a private organisation.

Perhaps you are also alarmed that Prem footballers get paid more than non-league ones for doing the same job
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Re: Wba end of year finances 2018-19
« Reply #12 on: April 01, 2020, 04:38:14 PM »
If Brunt is on more than £10k now someone needs sacking.

Barry should be on no higher than £5k plus bonuses for playing.

Albionic

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Re: Wba end of year finances 2018-19
« Reply #13 on: April 01, 2020, 06:48:25 PM »
Ok sarcy posts aside I do accept that randomly bringing up players salaries today isn't exactly super topical.

However what I will say is my post was spurred on by the news this morning about how Spurs and also Newcastle are going to furlough their none playing staff despite having owners worth in the billions.

So safe to say I am a bit peeved off with the financial state of football today of all days

I think you have a valid point but the object of your ire is wrong, its not the players who are the problem in Spurs furloughing staff. It is the owner who is worth $Billions wanting the UK tax payer to subsidise his staffs wages by 80%, absolutely disgusting !  Should be declared an unfit owner in my opinion.
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Baggie Pete

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Re: Wba end of year finances 2018-19
« Reply #14 on: April 01, 2020, 07:03:44 PM »
I am sure nearly everyone agrees footballers are paid too much. but with all the money going into the game principally from TV, either the players get very rich or the owners do.

Its obscene but so long as they pay tax to fund all the needs for the country I accept its the going rate. Personally, I would like to see fans pay less and more investment in infrastructure. That said Albion's ticket prices look great compared to the top London clubs.

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Re: Wba end of year finances 2018-19
« Reply #15 on: April 01, 2020, 07:15:20 PM »
I think you have a valid point but the object of your ire is wrong, its not the players who are the problem in Spurs furloughing staff. It is the owner who is worth $Billions wanting the UK tax payer to subsidise his staffs wages by 80%, absolutely disgusting !  Should be declared an unfit owner in my opinion.

I wonder how the players would cope furloughed on £2500 a month
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Albionic

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Re: Wba end of year finances 2018-19
« Reply #16 on: April 01, 2020, 07:34:48 PM »
I wonder how the players would cope furloughed on £2500 a month

Their employer could make up the balance, or they could foxtrot oscar
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Standaman

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Re: Wba end of year finances 2018-19
« Reply #17 on: April 01, 2020, 10:04:59 PM »
Even accepting that players are the stars of the show and the show brings in a lot of revenue players are in general over paid.

Clubs in the Championship routinely have wage bills in excess of 100% of their revenues that is insane. Now this is justified by the potential revenues that promotion to the Premier League brings yet many Premier League clubs lose money so even at the pinnacle of the game players are taking more from the game than the game earns.

It really does not matter what an individual player earns the debate as to whether player x or y is worth his salt is largely facile. The plain fact is if clubs are losing money and the biggest expense is the player wage bill, that along with it's closely related inbred cousin the transfer fee and it's illegitimate offspring the agent fee, is a problem.

Some may argue that the tab is picked up by wealthy owners. Even setting aside the notion that there might be more socially worthwhile causes to lavish money on than funding a Premier League's footballers second Bentley this misses the point. Just the narrow perspective of the long term health of the game, this model has failed time and time again nearly every sugar daddy owner grows tired of funding a club and walks away. Yet the wage bill they have funded sits like a millstone around a club's neck.

Returning to the Albion, yes we are relatively well run and some fans hate the board for it. If a few clubs died for being badly run maybe sanity would start to prevail. The current crisis should be a wake up call for football on many fronts not least the long term sustainability of the professional game.

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baggiejohn

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Re: Wba end of year finances 2018-19
« Reply #18 on: April 02, 2020, 08:25:36 AM »
Even accepting that players are the stars of the show and the show brings in a lot of revenue players are in general over paid.

Clubs in the Championship routinely have wage bills in excess of 100% of their revenues that is insane. Now this is justified by the potential revenues that promotion to the Premier League brings yet many Premier League clubs lose money so even at the pinnacle of the game players are taking more from the game than the game earns.

It really does not matter what an individual player earns the debate as to whether player x or y is worth his salt is largely facile. The plain fact is if clubs are losing money and the biggest expense is the player wage bill, that along with it's closely related inbred cousin the transfer fee and it's illegitimate offspring the agent fee, is a problem.

Some may argue that the tab is picked up by wealthy owners. Even setting aside the notion that there might be more socially worthwhile causes to lavish money on than funding a Premier League's footballers second Bentley this misses the point. Just the narrow perspective of the long term health of the game, this model has failed time and time again nearly every sugar daddy owner grows tired of funding a club and walks away. Yet the wage bill they have funded sits like a millstone around a club's neck.

Returning to the Albion, yes we are relatively well run and some fans hate the board for it. If a few clubs died for being badly run maybe sanity would start to prevail. The current crisis should be a wake up call for football on many fronts not least the long term sustainability of the professional game.

As you so eloquently state Stan, it appears that WBA operating costs are reasonably in control.
The thing that worries me, is the owner sitting with a capital asset, for which he paid an alleged £200 million, which he is not going to get a return anytime soon.
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Albionic

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Re: Wba end of year finances 2018-19
« Reply #19 on: April 02, 2020, 08:48:40 AM »
As you so eloquently state Stan, it appears that WBA operating costs are reasonably in control.
The thing that worries me, is the owner sitting with a capital asset, for which he paid an alleged £200 million, which he is not going to get a return anytime soon.

Is it really a worry though, what are his options
a) asset strip - ground? training ground is outside the residential planning envelope and I believe the land belongs to Aston University anyway.
b) Sell, not a chance of re-couping his outlay and in the current economy there will be next to no potential suitors (Standaman has written some excellent pieces on this in the past)
c) Leave us to wither and die, hardly good business sense.
d) maintain what he has in the hope that Slav (or a successor) is the messiah and turns the club into a desirable asset

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liverbaggie

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Re: Wba end of year finances 2018-19
« Reply #20 on: April 02, 2020, 10:20:52 AM »
Talking about the latest p/l accounts, with a 7 million loss ,which to my mind is a job very well done.
Doesn't Mr Lai  still owe the club several million,which if paid back would be a big pat on the back for our CEO.

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Re: Wba end of year finances 2018-19
« Reply #21 on: April 02, 2020, 12:03:41 PM »
Is it really a worry though, what are his options
a) asset strip - ground? training ground is outside the residential planning envelope and I believe the land belongs to Aston University anyway.
b) Sell, not a chance of re-couping his outlay and in the current economy there will be next to no potential suitors (Standaman has written some excellent pieces on this in the past)
c) Leave us to wither and die, hardly good business sense.
d) maintain what he has in the hope that Slav (or a successor) is the messiah and turns the club into a desirable asset

That's the point, none of the options are good, & even if we are promoted & establish ourselves as a Premier League club, it's unlikely that our valuation will get to anything like the alleged £200 million that Lai paid for us.
Additionally, if reports from China are correct, he wouldn't be allowed to write down the loss as that would mean cash leaving China. Not allowed under the present regime.

Also, by far the largest asset value in a football club are player contracts. If, as is now likely, player contracts are to be negotiated downwards then the sell-on value of the player would also decrease.

As commentators have said, the financial landscape will change dramatically once the coronavirus crisis is over, & from an operational level, we're probably better positioned than most, but I'm not sure how long we're going to be able to operate without a cash injection & clearly that's not going to come from our present owner.
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Re: Wba end of year finances 2018-19
« Reply #22 on: April 02, 2020, 12:39:36 PM »

The players were good enough, only one reason we went down.


Pardew.

Nothing to do with Pulis then?? Unbelievable. I blame ;D him more than Pardew. He (Pulis) didn't have to take over from Pulis… If you get my drift  ;D

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Re: Wba end of year finances 2018-19
« Reply #23 on: April 02, 2020, 01:01:50 PM »
Pulis was completely spent well before the season started. No way would he have kept us up.

The decision to give him a new fat contract when he clearly didn't want to be here along with his **** poor record and the biggest transfer kitty yet despite his previous poor records when given permission to splurge at his other clubs condemned us in one swoop.

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Re: Wba end of year finances 2018-19
« Reply #24 on: April 02, 2020, 01:07:30 PM »
Lai is stuck. He paid too much for the club.  The salable assests don't add up to what he paid for them. He has made a huge loss on this venture. It is however a paper loss and in the world of klepto capitalism it doesn't count until it crystallises i.e. the club is sold for less than what he paid for it. He can't sell his way out of it.

While the losses are manageable at the moment running at £7m a season and largely offset by £39m profit in the penultimate season in the Premier League. That and player sales (fees in the post pandemic world might not be what they were once were) keep the show on the road but how long this is sustainable is debatable. In the short term we don't have some of the financial stresses many clubs are under but promotion is becoming more important to the club's financial well being. 
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