FINANCIAL STATEMENT In response to comments made by our supporters in respect of transfer income, the Board sets out below a summary of the football income and expenditure since the Club came out of receivership in May 2004. £ £ Transfer Income (players sold): Davies, Howard, Nicholls, Edwards, Vine 8,600,000 - Monies still to be received (2,525,000) £6,075,000 Cost of Players Sold: Payments paid/due to players, agents and football management (1,852,000) Payments paid/due to Clubs relating to sell on clauses (655,000) (2,507,000) £3,568,000 Costs of Player Purchases: (inclusive of agents and Football League levy) Bell, Vine, Boyd, Feeney, Parkin, Talbot, Spring (2,482,000) - Monies still to be paid 530,100 (1,951,900) £1,616,100 Summary of Football Operating Costs (football management & playing staff) Costs Increase against 2003/04 Season 2003/04 (League One) £2,500,000 - Season 2004/05 (League One) £3,715,000 £1,215,000 Season 2005/06 (Championship) £5,230,000 £2,730,000 Season 2006/07 (Championship)* £6,574,000 £4,074,000 (£8,019,000) Net shortfall (£6,402,900) Notes: i) Please note that on players sold the Club is still owed £2,525,000 which will be received over the next 3 years ii) *projected costs to the end of the season including loan players ii) For confidentiality and legal reasons the Club is unable to identify specific names in some of the categories detailed above Summary The above information has been summarised from May 2004 when the Club was taken out of receivership. It is important to note that the increase in the Football Operating Costs as detailed above (£8,019,000) is a direct result of the continuing investment put back into the Club's football business, which includes increased player salary and football management costs etc. This support has seen costs nearly triple since coming out of receivership emphasising the Board's support of the football management. The above summary does not include any other income received by the Club (ticket & commercial sales) nor the associated operating costs i.e. non football salaries and other running costs of the business e.g. youth team and stadium. Derek Peter (Financial Director)
Radio reporting that Newell was paid 10% of all outgoing transfer fees to 'compensate' him for losing the player. £860.000. Kept that quiet didn't he? No wonder he doesn't need bungs.
Mickey Mouse club, Mickey Mouse management. Ok, so it's been a focking frustrating year for us, but we don't realise how lucky we are to have Simpson et al in charge.
Let's just say we would feel angrier if we were in their position than we would about getting relegated from the Prem.
But isn't it significantly more than that? We have money in the bank (ok, so some of it should have been spent in January), young players coming through, a realistic plan for the future, and a unified management team to get us there. In short, a sound base from which to move forward. And what have L*t*n got? Player unrest, boardroom in-fighting, and a pipe-dream of building a new stadium. They are nothing but totally 'ucked :doom:
I read the thing about Newell's 10%. What a hypocrit, why bring up bungs when you are fleecing the clubs of 800? Especially at a poor club!
