St Mary's Football Group – 2016/17 financial results

[Window Cleaner]

I doubt if we'd even be concerned about any of this if the team wasn't in such an akward position in the League.

We appointed a wrong manager after sacking a manager who'd have got better results. That's down to Reed and only Reed.

The rest is just no particular concern of the average football fan. Well apart from the investment bankers amongst you that is.

[pluto]

UBS

[Chez]

 

As others have alluded too when Cortese did that (training ground/youth set up) some see it as wasting loads of money that supposedly almost killed us.

My memory is not what it was, but did anyone really suggest Cortese was wasting money on the training ground? I seem to recall there was a lot of pride in the fact that, unlike the skates, we were investing in infrastructure rather than spunking it all on wages. Likewise did anyone really suggest he 'almost killed us' by taking out a loan? I recall Cortese getting criticism because he said we'd never take the club into debt, yet two minutes later he did exactly that.

 

But yet they fail to take into account the player wages for the year prior to leaving was just £27m and the year he left £45m. Not to mention very low agent fees. In the space of just 4 years since he has gone our wage bill has more than doubled. Increasing by 29% year over year last year alone.

 

I think it is slightly disingenuous to point to low wages under Cortese whilst in the Prem. The fact is, in the first few years he still had players on league 1 and championship wages. As those players were let go they were replaced by Premiership players on premiership wages. It was inevitable that the wage bill would not just go up, but go up dramatically. Add to that wages keep rising every year in dramatic fashion for every club. The amount we now pay is not unusual. It's who we pay that has ****ed us.

 

A question, do you think if Cortese had stayed our wage bill would be lower today? Going to better players maybe, but actually lower?

[SW5 SAINT]

Does anyone know how many other PL clubs have the same or similar arrangements in place? That would help deduce how normal, or otherwise, our situation is.

 

Explains why acquisition of a PL club is so popular with investors, they can't lose........

[SW5 SAINT]

They changed the rules straight after.

 

I believe they couldn’t block it because he didn’t have a criminal conviction, he only didn’t have a conviction because he cut a deal and testified against the person he bribed who ended up being executed.

 

He sounds like the sort of person who wouldn’t hesitate to do a Pompey on us if that’s the only way he get his money back.

 

Except he didn't put any of his money in........