Problems with Gartside

[EverSoYouri]

We don't really have much debt.
We're still up sh*t creek on FFP.

Anybody explain?

Others will be far better at it than me, but as I understand it:

* FFP basically means your outgoings can't vastly exceed your incomings (we're looking at you, PSG and Man City etc)
* Ours still do, because Championship income is vastly less than Premiership income, especially as parachute payments shrink
* The debt, which is large but structured very manageably (all to Eddie not banks), is a small outgoing compared to wages (IIRC?)

Basically, any club who signed long-term contracts without relegation-reduction clauses is still paying Premier wages on Champo income. In my opinion Gartside's BN interview was far from being a loaded gun pointed at his own head, but for me the worst part in it was the implication that relegation caused us this contractual problem - that we had (I surmise) been extending contracts without these relegation-reduction clauses. Considering FFP was not a surprise when it arrived, this strikes me as foolish.

More details (generally) on FFP here: http://www.financialfairplay.co.uk/fina ... lained.php" onclick="window.open(this.href);return false;


EDIT Thanks Worthy. Is it possible/easy, for explanation, to list the last few seasons' Income vs Costs?

Thanks, DSB. Will take a look at this when I have a moment. At first sight, your point about the contracts strikes me as well made.

[Worthy4England]

Yes on point 3. Interest V Wages...

Last year £35m wages £7.5m interest (£6m of which was to Moonshift) - so we will still have some costs I suspect in relation to the Bank facility (which they've reduced)

[Worthy4England]

Much obliged, Worthy. That's a damned sight clearer than mud!

But...it does suggest that ED taking interest (or whatever Garty wants to call it) would have been a contribution to our falling foul of FFP. Am I right?

Say our Revenue this season is £25m and our costs are £30m without the interest payments, we're over the "break even" (we spend more than we earn) so the spectre of penalty looms. As it's under £8m more than we earn, we're in the clear. If we added the interest payments back in, we'd earn £25m and our costs would be £36.5m - so we'd be at +£11.5m and would incur a sliding scale fine related to the £3.5m we were over the threshold...

So yes our interest payments could have an impact and therefore ED has effectively helped us out again by waiving it...

[freeindeed]

The timing of this frank interview appears to be some kind of political move by Gartside, making fans 'appreciate' his honesty at a time when his head is being called for.

[KeyserSoze]

Well...yeah.

[bobo the clown]

Well...yeah.

Disgraceful. Imagine putting your side of the story !!

Booooo !!!

[Worthy4England]

Well...yeah.

Disgraceful. Imagine putting your side of the story !!

Booooo !!!

It's like witch burning. If he said nowt, he's drowned. If he speaks to the press as people have been demanding, he floats and we should burn him.

[EverSoYouri]

Well...yeah.

Disgraceful. Imagine putting your side of the story !!

Booooo !!!

It's like witch burning. If he said nowt, he's drowned. If he speaks to the press as people have been demanding, he floats and we should burn him.

And Hilary Devey flies in on a new broom...

[jaffka]

Good interview, I liked his answers.

[LeverEnd]

He irritates me, but I respect that interview more for the frankness, even if he does think it's all someone else's fault. Far preferable to banal platitudes about fans being 'the lifeblood' etc. etc...

[EverSoYouri]

He irritates me, but I respect that interview more for the frankness, even if he does think it's all someone else's fault. Far preferable to banal platitudes about fans being 'the lifeblood' etc. etc...

Yep.

[StaffsTrotter]

article in the guardian doesn't paint PG in tghe best light

http://www.theguardian.com/football/blo ... rers-abyss" onclick="window.open(this.href);return false;

[EverSoYouri]

article in the guardian doesn't paint PG in tghe best light

http://www.theguardian.com/football/blo ... rers-abyss" onclick="window.open(this.href);return false;

The Guardian also wrote on the club's financial state a few months ago (highlighting the difference between ED taking interest and Al Fayed - of all people - who never did).

This is either a vendetta or a newspaper which refuses to be fobbed off. (The article makes much of Garty's 'I'm sick of answering that' remark in his recent BN interview).

Perhaps most telling is the unfavourable comparison to Wigan Athletic.

[bobo the clown]

Is that the rag who had that Femail reporter with a negative fixation on us ?

I understand it's financially on its last legs. Let's celebrate that.

[Worthy4England]

Is that the rag who had that Femail reporter with a negative fixation on us ?

I understand it's financially on its last legs. Let's celebrate that.

Yes. Louise Taylor.

We need to keep the Guardian as a foil to the easy cryptic crosswords they put in the Telegraph to convince their Tory readership, they're not thick.

[EverSoYouri]

Is that the rag who had that Femail reporter with a negative fixation on us ?

I understand it's financially on its last legs. Let's celebrate that.

No, Bobo. That's The Grauniad. (You can relax and go back to your 103 Sunday Times supplements...)

[bobo the clown]

Is that the rag who had that Femail reporter with a negative fixation on us ?

I understand it's financially on its last legs. Let's celebrate that.

Yes. Louise Taylor.

We need to keep the Guardian as a foil to the easy cryptic crosswords they put in the Telegraph to convince their Tory readership, they're not thick.

I thought only public sector workers were allowed to read that Worthy. Or is that "can stand to read it".


Which to be fair would account for about 87% of the workforce in the dream World of the Ed's and Harriet I guess.

[Worthy4England]

Is that the rag who had that Femail reporter with a negative fixation on us ?

I understand it's financially on its last legs. Let's celebrate that.

Yes. Louise Taylor.

We need to keep the Guardian as a foil to the easy cryptic crosswords they put in the Telegraph to convince their Tory readership, they're not thick.

I thought only public sector workers were allowed to read that Worthy. Or is that "can stand to read it".


Which to be fair would account for about 87% of the workforce in the dream World of the Ed's and Harriet I guess.

I only get either for the crossy, so dunno. For the rest of it they're both fatally skewed.

[bobo the clown]

↑↑↑↑ yay. Bllx. Such an old excuse.

[officer_dibble]

Given our comparison is (reasonably enough imo) wigan how do our agent fee spendings compare? They have been publishing those figures for a while?

I'm quite anti Gartside in terms of his running of the club, but is he really any more 'crooked' than his counterparts?