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Welcome home big man , one of the nicest people I have had the pleasure to meet

 

Could've done with him when we had approximately 43 keepers in our youth team last season

 

The Swiss Ramble twitter account is going over some of the latest financial results and here's a graph of last year's wages:

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How does that compare to revenue?

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Our is unusually low, which might actually be a good thing at the moment, but Leicester and Bournemouth are spending more than they earn.
They're both back by their owners, of course, but you'd have to question just how sustainable that is for the South Coast club, at least.
Dean Court certainly isn't big enough to draw in the income required, but do they have the fans for a serious expansion?

 

Bournemouth are going to have an unpleasant summer if they don't come back up, I feel

David Brooks, Lewis Cook, Dominic Solanke, and Phillip Billing will all have suitors

 

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I know we've spent a ****load on the stadium, training ground, etc. but I'm not sure that Mike Ashley's bothered at all.
It would probably cost more to repaint St James every 5 years than the £7m he's supposedly spent.

 

So the THST refused to meet with Levy, and are now demanding a meeting with Joe Lewis

Somebody probably should have explained to them that Option A is not going to get you Option B

 

Why would you want to meet up with the bloke that has absolutely no interest in his investment?
He's hardly going to park up his yacht in London to speak to a bunch of people, when he'd be referring every question to Levy, is he?

 

You demand to see the 70% owner of ENIC :

1.but refuse to see the owner of the other 30% who
is actually chairman of the club

2. who rarely appears in the UK


Moronics 101.

 

And considering the last time he parked his yacht in London it had several Lunatic Fringe feeds saying how great it would be if his yacht sank while he was on it, I genuinely cannot fathom what the THST are expecting

Unless their plan is to cite somebody not dropping everything to jet out from the Bahamas to meet with them as "proof" of something, but the problem is their argument fails when it can be asked why they aren't chartering a flight to meet Lewis in the Bahamas if it means so much to them

If they want representation on the board, refusing to meet with Levy than demanding that Lewis fly in to meet them isn't going to do it

 

So we've invested about the same amount as all the others put together. Amazing lack of ambition!

 

If we wouldn't have invested in the new stadium, our income wouldn't justify some of the wages we are paying and we would be alot higher on the wages/turnover graph. Where teams put themselves in danger of sustainability. Leicester will get away with it because their owner is willing to bankroll them ( and they will get European football ) and has bucketloads.

It is why I am in the ENIC IN crowd. They are sensible with their money and are not putting the club in danger.

We are still at a stage where most of these owners have not had to hand over to next generation. ( Leicester being the exception ). What will happen when Roman retires?

 

How is he defining CAPEX for football clubs ??

For me player transfer fees are CAPEX, and wages are OPEX.
So that basis the figures in the chart for every club should be much higher.

 

Allegedly he has it written into his will that Chelsky are a write-off.

Specifically, that none of his beneficiaries could attempt to recoup
the money owed to him by selling off players, wind up the club
and sell the land etc (lest his women go full Imelda Marcos etc) ,

 

I think it's infrastructure expenditures. Definitely doesn't include transfer fees or wages.

Chelsea selling the land would be tricky anyway, as the fans own the pitch. They threatened to withdraw it's use over the ESL plans.

 

Can you imagine if we tried that. Threaten that they can’t use the grass and Darth Levy just grins maniacally and presses the big red button to bring out the artificial pitch beneath.

 

Including a goal straight from a free-kick...

 

I imagine that Capex here is spend that is amortised over a period much longer than the ten year time period over which he is comparing. While player transfer fees are taken to capital they are then amortised over the contract length, usually four to six years. It wouldn't make sense to count capital already written down to P&L in such a graph.

 

...and, of course, dickheads are blaming ENIC for what time the fixture kicks off

 

That is accounting procedures for an asset, not CAPEX.
Transfer fees are the primary ongoing CAPEX for a football club,
not infrastructure such as stadia or training ground sites.

 

But it's perfectly reasonable to show just the expenditure on infrastructure. Compare say a coach company that has coaches that last five years and a garage to service them. The only long term capital asset is the garage. Coaches bought in 2012 and fully amortised and retired by 2017 are hardly relevant to a graph that is trying to show net investment over the period 2010 to 2020. An alternative would be to show the growth in assets in the accounts over the period.