Reading FC Finances

[westendgirl]

Yes, I get that, but what I don't get is how those two seasons were any different to any others?

If we made those losses in those 2 seasons, surely we made the same losses in every other season from 1998 onwards?

Yes we did - covered by loans from SJM. From memory the losses forward at 2007 werw £27million

[rabidbee]

Yes we did - covered by loans from SJM. From memory the losses forward at 2007 werw £27million

But when is he going to start spending serious money on the club?

[rabidbee]

THIS IS NOT POLICY - IT IS ABOUT HOW THE TEAM HAS AND WILL BE AFFECTED BY FINANCES

It's about how the club is run, not how the team plays.

And spot on Arch, btw.

[rabidbee]

...maybe we should get a loan, an overdraft, or raise other sources of finance...

We had one, it was called in. I don't know if you've noticed, but the banks lost lots of money, and now they're not so free with it...

[rabidbee]

It's the lack of credit that has done for high street stores like Woolies and Zavvi, and Fopp before them (just to name three off my head).

[Mr Angry]

We are like someone who lives in an estate; we can see all our neighbours who generally have similar jobs to us, yet they are buying new cars, going on a couple of exotic foreigh holidays every year, have just had a conservatory and a new kitchen installed, yet we seem to have a constant struggle to pay bills on time and save a little something every month "for a rainy day". All the time, you get your kids coming home from school, moaning that the other kids all have the latest Wii games etc and why can't they have them??

So you scratch your head and think "what am I doing wrong??"

But the reality is, you aren't doing anything wrong; all your neighbours have been buying things on their credit cards and by taking out loans, or re-mortgaging their houses - and guess what? Suddenly all of those credit card bills, and bank loans are coming home to roost - soon you will see the new car going back, no more holidays, and even the odd bank repo of a house or two.

Sure, things are tough for RFC at the moment - no-one likes being in the bottom 3 of any division - but the reality is that under all that "success" other teams are seemingly enjoying at the moment, there is a lot of hidden debts that will be called in, and in some cases, very very soon.

If you had a choice, winning the FA Cup then going totally out of business 2 or 3 years later, would you say yes please??

[Royal Rother]

Superb analogy!

[Dirk Gently]

Superb analogy!

Certainly is - but the posters on here who most need to read it won't acknowledge or accept it as it doesn't fit their own particular view of the world - a world where they want free money to be given to the club by someone (anyone!) - and if they don't get the moon on a stick they demand they're going to scream and stamp and protest until they do!

[Thaumagurist*]

We are like someone who lives in an estate; we can see all our neighbours who generally have similar jobs to us, yet they are buying new cars, going on a couple of exotic foreigh holidays every year, have just had a conservatory and a new kitchen installed, yet we seem to have a constant struggle to pay bills on time and save a little something every month "for a rainy day". All the time, you get your kids coming home from school, moaning that the other kids all have the latest Wii games etc and why can't they have them??

So you scratch your head and think "what am I doing wrong??"

But the reality is, you aren't doing anything wrong; all your neighbours have been buying things on their credit cards and by taking out loans, or re-mortgaging their houses - and guess what? Suddenly all of those credit card bills, and bank loans are coming home to roost - soon you will see the new car going back, no more holidays, and even the odd bank repo of a house or two.

Sure, things are tough for RFC at the moment - no-one likes being in the bottom 3 of any division - but the reality is that under all that "success" other teams are seemingly enjoying at the moment, there is a lot of hidden debts that will be called in, and in some cases, very very soon.

If you had a choice, winning the FA Cup then going totally out of business 2 or 3 years later, would you say yes please??

Excellent analogy and we don't have to look very far for an example of such a "neighbour" - step forward Jay.

[prostak]

That Royal Rother's post of last night (the excellent and succinct explanation of why RFC don't spunk money they don't have, posted on a thread on The Team) was immediately followed by somebody bemoaning RFC's failure to spunk money they don't have was a perfect example of why all online debates are ultimately pissing in the wind. Every time I read another reasoned, intelligent argument for being content with working up and down the divisions over rough 10-year cycles, I hope that maybe one more person will be won over.

Mainly though, I just prepare to scroll through pages of idiots who eschew conventional rhetorical techniques in favor of BIG-ASS RED SCRIPT.

[Harpers So Solid Crew]

It's the lack of credit that has done for high street stores like Woolies and Zavvi, and Fopp before them (just to name three off my head).

Nonsense Woolies went bust cos they were crap.

[Harpers So Solid Crew]

Excellent analogy and we don't have to look very far for an example of such a "neighbour" - step forward Jay.

Jay made the effort for his family, they moved to Leeds to try to make it easier, he had a decent job, I think you will find it was when he lost that job he got into troubles, yes he might have spent a bit he did not have, but personally I dont think he was that profligate. He tried to sell the house to clear the debt, but there were no buyers, so he battled along as best he could.

Eventually he had little option but to be declared bankrupt, big fecking deal even C Biggins was forced to do the same in the past, try moving on a bit Spacey.

[westendgirl]

Excellent analogy and we don't have to look very far for an example of such a "neighbour" - step forward Jay.

Jay made the effort for his family, they moved to Leeds to try to make it easier, he had a decent job, I think you will find it was when he lost that job he got into troubles, yes he might have spent a bit he did not have, but personally I dont think he was that profligate. He tried to sell the house to clear the debt, but there were no buyers, so he battled along as best he could.

Eventually he had little option but to be declared bankrupt, big fecking deal even C Biggins was forced to do the same in the past, try moving on a bit Spacey.

I don't know Jay's circumstances but maybe the analogy still works if in a different way - look on relegation as losing your job, when that happens you need to look carefully at your expenditure and try to do what you can to live within your means.

[PistolPete]

THIS IS NOT POLICY - IT IS ABOUT HOW THE TEAM HAS AND WILL BE AFFECTED BY FINANCES

It's about how the club is run, not how the team plays.

And spot on Arch, btw.

...which means it is about the way the club runs, not POLICY. Policy is about 'what music the club plays after goals', 'how much season tickets are', 'policy on stewarding the games' etc

The team board is not only for tactics and performance, it is for anything that affects THE TEAM. If it is not, it should be.

[Arch]

It's the lack of credit that has done for high street stores like Woolies and Zavvi, and Fopp before them (just to name three off my head).

Nonsense Woolies went bust cos they were crap.

But they were crap since before you and I were born without going bust.

[winchester_royal]

We are like someone who lives in an estate; we can see all our neighbours who generally have similar jobs to us, yet they are buying new cars, going on a couple of exotic foreigh holidays every year, have just had a conservatory and a new kitchen installed, yet we seem to have a constant struggle to pay bills on time and save a little something every month "for a rainy day". All the time, you get your kids coming home from school, moaning that the other kids all have the latest Wii games etc and why can't they have them??

So you scratch your head and think "what am I doing wrong??"

But the reality is, you aren't doing anything wrong; all your neighbours have been buying things on their credit cards and by taking out loans, or re-mortgaging their houses - and guess what? Suddenly all of those credit card bills, and bank loans are coming home to roost - soon you will see the new car going back, no more holidays, and even the odd bank repo of a house or two.

Sure, things are tough for RFC at the moment - no-one likes being in the bottom 3 of any division - but the reality is that under all that "success" other teams are seemingly enjoying at the moment, there is a lot of hidden debts that will be called in, and in some cases, very very soon.

If you had a choice, winning the FA Cup then going totally out of business 2 or 3 years later, would you say yes please??

Excellent post, sadly it still won't make a blind bit of difference on this board.

Get the egomonster out!

[Bowman's Quiver]

We are like someone who lives in an estate; we can see all our neighbours who generally have similar jobs to us, yet they are buying new cars, going on a couple of exotic foreigh holidays every year, have just had a conservatory and a new kitchen installed, yet we seem to have a constant struggle to pay bills on time and save a little something every month "for a rainy day". All the time, you get your kids coming home from school, moaning that the other kids all have the latest Wii games etc and why can't they have them??

So you scratch your head and think "what am I doing wrong??"

But the reality is, you aren't doing anything wrong; all your neighbours have been buying things on their credit cards and by taking out loans, or re-mortgaging their houses - and guess what? Suddenly all of those credit card bills, and bank loans are coming home to roost - soon you will see the new car going back, no more holidays, and even the odd bank repo of a house or two.

Sure, things are tough for RFC at the moment - no-one likes being in the bottom 3 of any division - but the reality is that under all that "success" other teams are seemingly enjoying at the moment, there is a lot of hidden debts that will be called in, and in some cases, very very soon.

If you had a choice, winning the FA Cup then going totally out of business 2 or 3 years later, would you say yes please??

And there was me thinking I was alone head scratching over the last five years or so. Maybe I can tell my missus I was right to be a "tight fisted old bastard" after all!

[Ian Royal]

Just for those who haven't ever really thought about it...

Our Prem Wage Budget ~ £30m

Average Championship wage budget is ~ £11

£30m - 40% = £18m

£18m is 63% higher than £11m if I've remembered how to calculate it properly. Is it any wonder we had to cut our wage bill dramatically this season and hold onto most of our trasfer revenue this season?

I certainly wouldn't have wanted to watch the club run at 50% higher than the average Championship Wage budget this season without getting promoted (which we wouldn't have done) and then have to drop it in a big crash next season with no parachute payment as a buffer.

[Platypuss]

THIS IS NOT POLICY - IT IS ABOUT HOW THE TEAM HAS AND WILL BE AFFECTED BY FINANCES

It's about how the club is run, not how the team plays.

And spot on Arch, btw.

...which means it is about the way the club runs, not POLICY. Policy is about 'what music the club plays after goals', 'how much season tickets are', 'policy on stewarding the games' etc

The team board is not only for tactics and performance, it is for anything that affects THE TEAM. If it is not, it should be.

Mods do what you will

Make your mind up.....

[rabidbee]

...which means it is about the way the club runs, not POLICY.

The OED says policy is the practice of government or administration. This is about the administration of the club.