The massive £5m loan fee for Fletcher is why they couldn't pay their staff. I think Wigan will look back on that as good business.
Knew nothing about him when he came in, but a winger wasn't what we most needed at the time, and it speaks volumes that there was a Deulofeu sized hole in the team not long after he arrived and he still was a non-entity. Bloke is as weak as piss, anyone who ever thought he could survive in English football is a moron (but of course, that wasn't the primary consideration)
Yes, I have read them and am a qualified accountant. Enlighten me, where exactly does it state Pussetto loan fee (or zero cost) in the accounts?
This is common practice in football. Also you need to change your retort, its getting a bit tired. I've been critical of some of the clubs transfer dealings so am not defending the club but find the overreaction about Pussetto somewhat amusing.
Loan fees and sundry income 2021 - 2022 were 24k while he was at Udinese. Logically the tiny fee more likely to come from external loan like Fletcher/Zinkernagel, or indeed just not loan income at all. Last season he was at Sampdoria. More chance of a fee there but no accounts yet.
I think this is the sort of statement that would be better off being a lie, because if you are actually an accountant I fear for your customers.
If the loan is an operating lease, we would likely account for it as an intangible asset on the balance sheet but my point is that the accounts won't show individual player income/costs and some are amortised.
Maybe one day you’ll actually answer the questions directed at you, rather than just answering with childish “no you are” responses.
There is a line in the accounts for it in the income breakdown “loan fees and other sundry income”. The previous year is much higher because we got a £1 million loan fee for Dawson from West Ham in return for favourable purchase price option. The purchase value of Pussetto continues to be amortised as normal over the life of his 5 year deal until such time as someone buys him outright. Whatever is “left” of Pussetto remains as an asset on the balance sheet because he hasn’t been sold.
For the last 3 years' worth of accounts there's also a specific reference to loan fees in the section about events that happened after the filing date.
He’s gone! It’s being reported everywhere now. Contract terminated. Probably big wages off the books as well. What a clear out!
Disgraceful. Signed him for £7m now contract terminated. Another player we’ve signed for a lot of money and let him devalue to nothing. I know the money went to Udinese, but it’s still money taken from the club. Goes in the bin along with Sarr, Gray, Janmaat, Cleverley, Success……list is endless really. No wonder we’re in such a financial mess with the clowns we have running our club.
No, he did nothing wrong. But it was one of a zillion players we signed for decent money but made a heavy loss on. From the current squad you can add Okoye, Kalu, Kayembe and Kone to the list of players we’ll lose money on. I was just making the point, people always credit the Pozzo’s of signing low and selling high, when that’s a complete fantasy……as our bank balance clearly shows.
While we have done well to shift players and reduce wages, we have not been very good at getting fees in this summer. JP and Sarr were the easy ones to get money for. Pretty much everyone else has just been given away.
For every successful signing in the Pozzo system, there seems to be at least five bad ones. Methods once lauded for being revolutionary and smart now look increasingly wasteful and inept, while the likes of Brighton and Brentford and others have stolen a march on us. The results are a summer of loans, free transfers and constantly losing targets to other clubs, and annoyingly it didn’t have to be so.
It's not what Janmaat did, was the baffling decision to extend his contract. He had a long term injury to go on top of a troubling injury history, we were in a relegation battle and he was out of contract in the summer. We gave him a two year extension, promptly got relegated, had to pay him off and he never returned to regular football before retiring.
Janmaat was actually Pozzo at his most idiotic. Renewed his contract durning relegation season and then had to pay him off at end of season when his contract would have expired. As HB1 says it should be no mystery why our finances are absolutely in the mud with this fool in charge.
The results may be worse than that. The “debt free” that the likes of Wendover uses as a trump card to close down discussion is only hot air from Duxbury at this stage. We will only know in 2 years or so if they have repaired the financial damage they have enforced on our club:
@Jumbolina Morning my friend. I can’t really comment on that, as it’s not my level of expertise. All I can do is remark on what my eyes are telling me, namely that we seem to have been excessively wasteful during the era when we had some decent money to spend, and now we are paying for it by reaching mid August seemingly unable to attract the players we want. I remember the excitement I felt a decade ago, when we were busy signing so many loanees from Udinese and looking to unearth a few talents from countries across the Atlantic that you’d need a map to find! It all seemed so different, so revolutionary. Fast forward ten years and we just look a total shambles (bar one or two notable exceptions) and so many other clubs are size are now the ones being hailed as proper examples of how to succeed, not us.
I'd imagine our hit rate is pretty similar to other clubs our size, tbh. What a waste of time and money Pussetto proved to be. Never seen a player less suited to English football
And also hot air from the 'finance person' at the Parlaci event? I'm skeptical, but the point was made, in clear terms, by several people high up in the club.
