Premiership player wages now average around £1.5m. But wait! (1 Viewer)

[Cov City Daytrader 87]

Despite earning that much, more and more are going into bankruptcy.

http://uk.eurosport.yahoo.com/15032012/58/premier-league-1-5m-year-stars-risk-bankruptcy.html

So they are overpaid and they overspend (unless they a victim of the Michael McIndoe investment scheme).

Don't suppose anyone can teach their guys money management can they?

 

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[WillenhallSkyBlues]

makes it that much sweeter when it's a former villa player

 

[Disorganised1]

Lets face it, for the most part many of these guys are not academic, thus they get taken for a ride by friends, agents, and con artists.

That's what the PFA should be working on - not more money.

 

[Tad]

I'm a bit behind on this, but when does the financial fair play rule kick in? I was under the impression it was meant to kick in at the start of this season but it clearly hasn't.

I dare say it will start when the suits at the top have lined their pockets with enough gold first..

 

[stupot07]

I'm a bit behind on this, but when does the financial fair play rule kick in? I was under the impression it was meant to kick in at the start of this season but it clearly hasn't.

I dare say it will start when the suits at the top have lined their pockets with enough gold first..

the FFP rule doesn't come in until the 2014-15 season.

 

[oldskyblue58]

Think there is a transition period that means after 2014/15 there will be sanctions for no compliance. But clubs need to be preparing now because current financial results are going to be used as a basis

http://www.uefa.com/uefa/footballfirst/protectingthegame/financialfairplay/news/newsid=1520059.html

we will be hit by it next season one way or another
http://www.guardian.co.uk/football/2011/jun/10/football-league-uefa-fair-play Seems player wages can only be 55% of turnover in league1

 

[stupot07]

You would think that there would need to be a 'parachute period' for championship clubs relegated to league one to get their wages in line. It would be very difficult to cope with losing the £4m revenue but also have to drastically cut your wage bill in pretty much 1 transfer window.