Wages (1 Viewer)

Deleted member 5849 · Aug 31, 2023

If they were unsustainable last season, they'll be even more so this season surely?

Correct the following if wrong!

Now I think King said he'd fund operating losses, but that'll need deep pockets and I assume will be in the form of loans - again I think he said loans would be non interest bearing?

What I can't remember is if those losses were set to just sit there or if there was an aim to pay them off with other income.

Razzle Dazzle Dean Gordon · Aug 31, 2023

I can't imagine our income (outside of exceptional player sales revenue so far this summer) will have risen in line with the wages we are presumably now paying both on and off-field so yeah, bigger losses unless we continue to make mega-profits on players. I don't recall if King said loans would be non-interest bearing or not, would have to trawl back through his interviews which probably means an extended time spent on the Cov Telegraph site....so i'm not doing it any time soon!

Grendel · Aug 31, 2023

Deleted member 5849 said:
If they were unsustainable last season, they'll be even more so this season surely?

Correct the following if wrong!

Now I think King said he'd fund operating losses, but that'll need deep pockets and I assume will be in the form of loans - again I think he said loans would be non interest bearing?

What I can't remember is if those losses were set to just sit there or if there was an aim to pay them off with other income.

Well unless we make more signings the transfer outs will be funding it I’d guess

shmmeee · Aug 31, 2023

Honestly don’t care. Drove ourselves mad guessing and second guessing under Sisu and we’re wrong pretty much the whole time and it made no difference.

SlowerThanPlatt · Aug 31, 2023

What are the guesstimates for the wage bill now, must be close to £20m?

shmmeee · Aug 31, 2023

SlowerThanPlatt said:
What are the guesstimates for the wage bill now, must be close to £20m?

I wouldn’t be surprised if it’s not hugely increased TBF. Hamer will have been on a bit as his second deal. Walker, Kane, Waghorn will have all been on a chunk and Wright MvE and Saka will be on relatively low wages coming from the leagues they did.

But yeah I’d guess around £20m

SlowerThanPlatt · Aug 31, 2023

£15.674m in the last accounts

NEWS: Coventry City publish accounts for year ended 31st May 2022

Coventry City Football Club has published the latest set of accounts for the year ended 31 May, 2022.

www.ccfc.co.uk

shmmeee · Aug 31, 2023

SlowerThanPlatt said:
£15.674m in the last accounts

NEWS: Coventry City publish accounts for year ended 31st May 2022

Coventry City Football Club has published the latest set of accounts for the year ended 31 May, 2022.

www.ccfc.co.uk

Didn’t someone vaguely ITK say we’d moved from bottom 6/8 to 12th? Which would be about that.

Deleted member 5849 · Aug 31, 2023

shmmeee said:
I wouldn’t be surprised if it’s not hugely increased TBF. Hamer will have been on a bit as his second deal. Walker, Kane, Waghorn will have all been on a chunk and Wright MvE and Saka will be on relatively low wages coming from the leagues they did.

But yeah I’d guess around £20m

I don't think you pay the fee we have for Wright and not pay him a chunk corresponding to that.

shmmeee · Aug 31, 2023

Deleted member 5849 said:
I don't think you pay the fee we have for Wright and not pay him a chunk corresponding to that.

You’re probably right. I’m not sure I’ve fully accepted Wrights fee yet.

Deleted member 5849 · Aug 31, 2023

shmmeee said:
You’re probably right. I’m not sure I’ve fully accepted Wrights fee yet.

Plus he did play in the world cup and score, so does have a profile. Am sure that comes with financial demands too.

shmmeee · Aug 31, 2023

Deleted member 5849 said:
Plus he did play in the world cup and score, so does have a profile. Am sure that comes with financial demands too.

“score” but yes. He’s on the fringes of the USA squad, but they’re hardly top tier. Id say about level with Japan or someone.

Like I say his record is good, same as Simms. I just worry when you’re 25 and there’s no many former fans signing your praises. And for an international and £7.7m player his touch is fucking horrific.

slowpoke · Aug 31, 2023

A lot of the clubs who are supposedly higher payers than us can’t afford it but contracts have to be honoured, hopefully we are not one of them.

Hobo · Aug 31, 2023

Deleted member 5849 said:
I don't think you pay the fee we have for Wright and not pay him a chunk corresponding to that.

Anymore than Gyokeres though?

shmmeee · Aug 31, 2023

Hobo said:
Anymore than Gyokeres though?

Vik was on his original contact. He probably earned less than Dabo. Hamer was on a new deal that was likely a fair chunk. O’Hare too and Sheaf all had new deals.

Grendel · Aug 31, 2023

Hobo said:
Anymore than Gyokeres though?

Id have thought so - the average wage in the Turkish league seems pretty high

MalcSB · Aug 31, 2023

Razzle Dazzle Dean Gordon said:
I can't imagine our income (outside of exceptional player sales revenue so far this summer) will have risen in line with the wages we are presumably now paying both on and off-field so yeah, bigger losses unless we continue to make mega-profits on players. I don't recall if King said loans would be non-interest bearing or not, would have to trawl back through his interviews which probably means an extended time spent on the Cov Telegraph site....so i'm not doing it any time soon!

Took me 30 seconds

19 Jan 2023 “Now obviously moving forward, this club is not printing money or generating or operating profits at this point so therefore there will be financing required by myself as the owner to get us and invest to where we need to get to. But if there is any debt that gets down, there will not be any interest. There will be no money taken out of this club through interest while I am owner of the club.”

SlowerThanPlatt · Aug 31, 2023

Grendel said:
Id have thought so - the average wage in the Turkish league seems pretty high

Yes but will be boosted by being a retirement home for former top players

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NEWS: Coventry City publish accounts for year ended 31st May 2022

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