The jump in the cost of wages from 71% in 2004/05 of turnover to 81% in 2005/06 and then 95.5% in2006/2007 is phenominal, and most of this wage bill will be on players. Between 2005/06 and 2007/08 the club lost £29 million. We gambled to much to stay in the premeirship.
I guess there were two assumptions, relegation would result in players sales of gems so wage bill would drop accordingly, and the carrot of the big hike in Sky money would pay off the gamble. Neither happened as planned however, although the Pardew era seems to me to be the biggest mistake in terms of value for money, and resale values.
I take the point though, it was allowed to get out of control particularly for a club that might face a relegation fight at any time.
Its easy in retrospect I know but perhaps we shot ourselves in the foot not increasing season tickets, and developing the ground further so that revenues might keep pace with wages more.
so perhaps look at those players granted wage increases or purchased during the big hike to determine what value we were getting? Is it the post Parker era of players?
[cite]Posted By: razil[/cite]Christensen and Moo2 were chumps tho.. (championship) weren't they?
Yes they were. A waste of the parachute money.
Even worse, we arranged the signing of Christensen in March well
before we were relegated. So he was signed with the possibility of him being a Premier League player.
£30 million loss over last 3 years.... and I still think that that there are too many employees in comparrison to the earlier years. as Len has posted..... Look at the wages to turnover ratios in Dowie and Pardew's time. Even Curbs' last season was excessive. That is a large part of why we are where we are in my view. Too many overpaid wasters not fit to wear the shirt...... Sums up perfectly what the position is. I appreciate that big efforts have been made to reduce the wage bill that cannot be done overnight, the fact that there are quite a few others is of litle consolation. Apparently Portsmouth have ben rumoured to table an idea that they can sell some of there players, cannot see this happening as everyone else will be requesting this, but football is in one hell of a mess to be sure. As I posted on here before If we get promoted, are we going to borrow even more to strenghthen the squad! can we borrow more!
On Sky it is claimed that Portsmouth need £20 million to keep going until the end of the season..... then pressumably offload a load of players, or try to then another £30 million plus to balance the books as they will be in the Championship to use our model, for a team and ground worth what!.
I see that the idea to be able to sell players is having a very luke warm response and that is just from the managers!
As Roy Keane stated they got themselves into this mess, no one else,..... and he was not alone!.' They might allow some sort of agreed deals in principle to buy some time... but it is looking grim for Pompey!. and now Grant is talking about 'breaking promises'
One thing that puzzles me is why there hasn't been more culling at executive level. It's what normally happens when businesses are under the financial cosh but we don't seem to have done it.
was listening to 5 live the other night with a pompey fans forum,they said the reason they were in so much trouble was over 90% wages to turnover,now we know why we are in such a mess,they suggested 70% was a managable figure.
[cite]Posted By: northstandsteve[/cite]was listening to 5 live the other night with a pompey fans forum,they said the reason they were in so much trouble was over 90% wages to turnover,now we know why we are in such a mess,they suggested 70% was a managable figure.
Exactly the same reason given by leeds when they first hit real financial trouble.
[cite]Posted By: stilladdicted[/cite]We were warned by the accountants who advised our turnover/wages ration should be close to 60%, shame we didn't listen to them as well.
well we were the premier league role model for everyone else to follow ..... and it looks like pompey were stupid enough
Comments
We gambled to much to stay in the premeirship.
That is a large part of why we are where we are in my view. Too many overpaid wasters not fit to wear the shirt.
I take the point though, it was allowed to get out of control particularly for a club that might face a relegation fight at any time.
Its easy in retrospect I know but perhaps we shot ourselves in the foot not increasing season tickets, and developing the ground further so that revenues might keep pace with wages more.
Not in 07/08 when the ratio was 88.7% but yes the previous year in the Prem, 06/07, was even worse
Yes they were. A waste of the parachute money.
before we were relegated. So he was signed with the possibility of him being a Premier League player.
as Len has posted.....
Look at the wages to turnover ratios in Dowie and Pardew's time. Even Curbs' last season was excessive.
That is a large part of why we are where we are in my view. Too many overpaid wasters not fit to wear the shirt......
Sums up perfectly what the position is. I appreciate that big efforts have been made to reduce the wage bill that cannot be done overnight, the fact that there are quite a few others is of litle consolation.
Apparently Portsmouth have ben rumoured to table an idea that they can sell some of there players, cannot see this happening as everyone else will be requesting this, but football is in one hell of a mess to be sure.
As I posted on here before If we get promoted, are we going to borrow even more to strenghthen the squad! can we borrow more!
I see that the idea to be able to sell players is having a very luke warm response and that is just from the managers!
As Roy Keane stated they got themselves into this mess, no one else,..... and he was not alone!.'
They might allow some sort of agreed deals in principle to buy some time... but it is looking grim for Pompey!. and now Grant is talking about 'breaking promises'
Exactly the same reason given by leeds when they first hit real financial trouble.
Shame we couldnt learn the their mistakes.
well we were the premier league role model for everyone else to follow ..... and it looks like pompey were stupid enough