Club Financial Statement

[brendywendy]

A couple of points/questions:

What did we spend a NET £10.6m on in transfers?

It says we lost £6.25m last year. But it doesnt mention the sale of Kitson/Shorey/Sonko.

Rosenior, Seol, Matejovsky, Kebe, Halford, Fae, Cisse, Bikey...

It does mention that we ran our wage budget at twice that of the last time in the champ, which might account for a similar loss despite those signings.

A NET £10.4m?????

Rosenior was a swap, Soel £1.2, Mat 1.4, Kebe??, Halford was Sold for the same we paid roughly, Fae we recopued half?, Cisse £600k Bikey £1m. thats nowhere near 10.4m NET

maybe it would include transfer fees, AND their wages


what definitely isnt happening is RFC fiddling the books though

[brendywendy]

what I don't understand is why we paid something like £10M in wages in 2005/6 and then paid 30M per annum in wages to broadly the same players (with a few additions) in the PL

to keep the players, and motivate them,



they then went on to achieve an 8th place finish in th etop flight

so id say it seemed worth it

then tell them we dont want 7th!!!! coppell out!

a statement to take pressure off the players- so that if they failed and got 8th -our record finish, it wouldnt be seen as failure

[Alivey]

considering our finanical problems i can see why we wanted 8 over 7.. could not afford 7th.. couldnt afford 8th either..

[brendywendy]

I don't understand the £60M wage bill.

Even if a player is on £20,000 per week that's only £1M per annum.

Not one of the players I've seen in a Reading shirt should have been paid that.

doesnt it include all wages at the club/ not just playing staff?

[brendywendy]

One only has to look at where the players signed have ended up to find out how good they were.

you onlyhave to look at the players he signed, and developed for the 106 season, and 8th place finish , and where they are now, and how often they are playing, to see that he was awesome, and you are a cock end

[Sun Tzu]

IIRC we had something like 300 people on the payroll in the Prem. Most of them would be match day staff and negligible in terms of the wage bill. But there would be a fair few non playing staff on decent money, although not close to what Doyle & co would have been earning.

[brendywendy]

I don't understand the £60M wage bill.

Even if a player is on £20,000 per week that's only £1M per annum.

Not one of the players I've seen in a Reading shirt should have been paid that.

You do know we had a squad of about 35 players right? And that some of them would definitely have been on more than £20k / week. Wage bill doesn't just cover playing staff either iirc.

i thought we had at least 4 players on 25k

and

and I hope this finally shuts up those endlessly boring "wheres the money gone"

no hope!!

you only have to see this thread

they moaned there was no transparency, now there is
and its all- fiddled books, funnelled into the hotel, etc


and id imagine nothing at all, in all the world, will convince RL and schards

[Sun Tzu]

And Royal Blue has yet to make an appearance on here !!

[Alivey]

where is the money???? exactly we wasted our money no a bunch of cr@p players to get us relegated and now we owe more than we can ever dream of paying without bringing another money bag owner... yet some say we aren't the next leeds?????????????????????????????????????????????????????????????? ok maybe that had a bit more ambition than us.. same STORY

[brendywendy]

sorry?

doesnt it say we use our profits to pay our unmanageable debts
and plan to break even this season?




then we will be sold to a rich person, JM take what is owed from the profits on that sale
and bingo!

[Alivey]

and no rich owner comes then who is next on the chopping blocks????? 5million for kebe???? our assets were stripped to pay off these loans and replace them with cheap alternatives...we are doomed.

[RoyalBlue]

do you mean the average players who managed to somehow fluke 106 points record breaking championship total, followed by 8th place in the prem?

i have no idea why such rubbish players would be worth paying what amounts to low to average prem wages.



massive LOLs at those who believed the tabloid headline figures of prem league being worth 60-100 million a season-forgetting it included 3 seasons of parachute money etc and totally forgetting we have to pay wages etc or thinking we could just write off the previous years of loss making

and massive LOLs at all those who insisted in underhand money grabbing by madejski, clawing back the money loaned, or using the club finances to pay for statues

i await the flood of apologies/conspiracy theories about dodgy accounting



...........................

How about some dodgy use of English?

"For the avoidance of any doubt, Sir John Madejski has not requested any repayment of his loans to the club." Very subtle (or strange) choice of words - perhaps a bit like it wasn't JM's idea to name the stadium after himself.

When some of my loans to the Nationwide Building Society reach the end of their fixed term, the money I have lent them is automatically repaid to me - I do not have to request their repayment! Likewise, Alan Sugar recently repaid some money I lent his company without me asking!!!

So why not a clear statement "No loans have been repaid to John Madejski over this three year period"?

And up yours Sun Tzu!! I'm so glad that to you your hero's reputation remains completely intact. God, you're going to end up heart broken one day.

[Alivey]

so does this mean we can afford a stadium expansion?

[Yellowcoat]

RB your loans were of course for fixed periods! It would really be nice if one day you tried to see something positive about RFC without always looking for negative comments. No idea why you see yourself as a fan or supporter with your attitude.

[brendywendy]

do you mean the average players who managed to somehow fluke 106 points record breaking championship total, followed by 8th place in the prem?

i have no idea why such rubbish players would be worth paying what amounts to low to average prem wages.



massive LOLs at those who believed the tabloid headline figures of prem league being worth 60-100 million a season-forgetting it included 3 seasons of parachute money etc and totally forgetting we have to pay wages etc or thinking we could just write off the previous years of loss making

and massive LOLs at all those who insisted in underhand money grabbing by madejski, clawing back the money loaned, or using the club finances to pay for statues

i await the flood of apologies/conspiracy theories about dodgy accounting



...........................

How about some dodgy use of English?

"For the avoidance of any doubt, Sir John Madejski has not requested any repayment of his loans to the club." Very subtle (or strange) choice of words - perhaps a bit like it wasn't JM's idea to name the stadium after himself.

When some of my loans to the Nationwide Building Society reach the end of their fixed term, the money I have lent them is automatically repaid to me - I do not have to request their repayment! Likewise, Alan Sugar recently repaid some money I lent his company without me asking!!!

So why not a clear statement "No loans have been repaid to John Madejski over this three year period"?

And up yours Sun Tzu!! I'm so glad that to you your hero's reputation remains completely intact. God, you're going to end up heart broken one day.

LOL

thats an angle i wouldnt have predicted, and shows how desperate you are for this statement not to be true

[Sun Tzu]

[And up yours Sun Tzu!! I'm so glad that to you your hero's reputation remains completely intact. God, you're going to end up heart broken one day.

My hero is Robert Zimmerman, I really can't see how any of this relates to the Bobster....

Is SJM anyone's hero ? I suspect not. But he's certainly not the arch villan you would like us to think he is.

Not sure how RFC 's finances could every give me heartache. It's just a football club after all !

[Victor Meldrew]

As a casual observer these days could somebody please explain this to me.
Steve Sidwell wanted £25,000 per week as a Premiership player and arguably our best player.
The club decides not to pay him that much out of a total salary bill of £30 million.
Our best player leaves for nothing rather than the £6million or so fee that he would have commanded.
Well-run club?

[Sun Tzu]

As a casual observer these days could somebody please explain this to me.
Steve Sidwell wanted £25,000 per week as a Premiership player and arguably our best player.
The club decides not to pay him that much out of a total salary bill of £30 million.
Our best player leaves for nothing rather than the £6million or so fee that he would have commanded.
Well-run club?

Is that how it happened ?

Is there a basis for saying he would have signed for £25k ? that would have meant him turing down twice that from Chelsea.

I thought he was quite clear that he didn;t move for money but becasue he wanted to test himself at the highest level. Had he signed a new deal he would have ended up making the same sort of move that Kitson and Doyle have done - it suited him to not sign (whatever we offered him)

[ZacNaloen]

I'm pretty sure we did eventually offer him the terms quoted at which point it became apparent he had been approached by another club that offered him a wage we couldn't have even thought about matching,

[Ian Royal]

As a casual observer these days could somebody please explain this to me.
Steve Sidwell wanted £25,000 per week as a Premiership player and arguably our best player.
The club decides not to pay him that much out of a total salary bill of £30 million.
Our best player leaves for nothing rather than the £6million or so fee that he would have commanded.
Well-run club?

He wouldn't sign for a more reasonable fee, before the season started / early on. By the time he'd proved himself worthy of that fee, he'd decided he'd be off. Calculated risk. He'd have been off anyway, so all we'd have done is increased our coffers by less than the transfer fee involved.

I rather suspect the wage bill was not evenly distributed between the two seasons.