Article: Coventry City will be forced to sell players (2 Viewers)
- Thread starter junglej13
- Start date
oldskyblue58
CCFC Finance Director
Selling the better players really isnt anything new for ccfc is it. It is a fact of life for us and many other teams. So in that sense it isnt really news.
I think you should look at it a different way. The better players get the bigger wages and if sold would command some sort of fee. The biggest effect that SISU are looking for regarding the players isnt the fees but a reduction in the wage bill and overheads. Reduce the wage bill you reduce the losses reduce the losses and the club becomes more attractive to investors (thats the theory except lower wages means lower value lesser skilled players). Isnt there 10 or so players out of contract in the summer, with the board probably open to offers on Clingan, Wood, Eastwood, and Turner when fit. The wage bill is going to take a big hit in a downward direction! Last accounts I saw the wage will was !
£1m+ more than turnover so reality is that it has to.
The thing that worries me is the apparent strategy is to buy the ground cheap (because obviously the trust and council dont know its worth and will sell cheap- really?) and I suspect to revalue the ground and mortgage it to the hilt. Those funds could be used to finance player purchases but decent players receive decent wages so will that really happen? I suspect it will be used however to reduce SISU's financial exposure on the basis that football debt should be secured on football assets. Then SISU can get out with much lower losses.
Also income streams at the Ricoh really are not going to make the difference everyone expects especially if the Ricoh is mortgaged. ACL made £500k profit in 2010 including £1m rent from CCFC- and are well run - why would anyone think that the woeful management at CCFC could do better. Plus if mortgaged then that mortgaged needs to be paid!. In my mind, although owning the stadium is a good idea, right now its a red herring put forward to quieten the fans.
PUSB
I think you should look at it a different way. The better players get the bigger wages and if sold would command some sort of fee. The biggest effect that SISU are looking for regarding the players isnt the fees but a reduction in the wage bill and overheads. Reduce the wage bill you reduce the losses reduce the losses and the club becomes more attractive to investors (thats the theory except lower wages means lower value lesser skilled players). Isnt there 10 or so players out of contract in the summer, with the board probably open to offers on Clingan, Wood, Eastwood, and Turner when fit. The wage bill is going to take a big hit in a downward direction! Last accounts I saw the wage will was !
£1m+ more than turnover so reality is that it has to.
The thing that worries me is the apparent strategy is to buy the ground cheap (because obviously the trust and council dont know its worth and will sell cheap- really?) and I suspect to revalue the ground and mortgage it to the hilt. Those funds could be used to finance player purchases but decent players receive decent wages so will that really happen? I suspect it will be used however to reduce SISU's financial exposure on the basis that football debt should be secured on football assets. Then SISU can get out with much lower losses.
Also income streams at the Ricoh really are not going to make the difference everyone expects especially if the Ricoh is mortgaged. ACL made £500k profit in 2010 including £1m rent from CCFC- and are well run - why would anyone think that the woeful management at CCFC could do better. Plus if mortgaged then that mortgaged needs to be paid!. In my mind, although owning the stadium is a good idea, right now its a red herring put forward to quieten the fans.
PUSB
