A Bit of Fun Salaries unpaid

[Wise Head]

It's not a case of the budget for the season being wrong (although it was). The budget for the season wasn't drawn up with the target of making a profit or even breaking even. The budget was put in place to cut the loss to an amount which allowed us to cover the cashflow deficit using the facility from Sainsburys.

At least 90% of League clubs will report a trading loss this year. We're not alone in this. The problem isn't Clubs making losses on their P&L, it's Clubs not having the ability to finance those losses through their cashflow. Clubs who don't generate enough cash to cover their obligations or who lack the resources to finance their cashflow requirements through lending from Banks or Directors end up being in a position whereby they are unable to pay player wages and/or their tax bills. That is the position that we've been in for the past 18 months and the likes of Cardiff, Crystal Palace, Plymouth, Sheffield Wednesday, Portsmouth and many others have been in during that time.

My gripe with Ron is not that he has budgeted to make a loss, it is that he can't adequately cover those losses. It's simply unfair to the players and staff of the club to have to wonder at the end of each month whether they will be paid on time.

 

[Beefy]

My gripe with Ron is not that he has budgeted to make a loss, it is that he can't adequately cover those losses. It's simply unfair to the players and staff of the club to have to wonder at the end of each month whether they will be paid on time.

True. Although we don't know of any alternatives.

Ideally we'd not be dependent on anyone to subsidise our losses. We'd be generating enough cash from trading 365 days a year instead of 25 days per year and that would enable us to pay our own way. Until then we're reliant on Ron Martin, or someone else, to keep us afloat.

 

[Fairport]

This £100k loss per month is probably what we have been losing since Tara Brady has been here. It is wrong to multiply this by 12 and predict an annual loss of £1.2 million. Some months will yield a profit, April and May for example when Season ticket money comes in on a daily basis.

 

[Jam_Man]

This £100k loss per month is probably what we have been losing since Tara Brady has been here. It is wrong to multiply this by 12 and predict an annual loss of £1.2 million. Some months will yield a profit, April and May for example when Season ticket money comes in on a daily basis.

And in June July and August we have no games and will make even more of a loss....

 

[Pubey]

And in June July and August we have no games and will make even more of a loss....

Do we not get a share of the gate at Wakering pre season?

Every little helps!

 

[united we stand]

I don't recall that statement. That would be a moronic thing for anyone at the Club to suggest.

Beefy , this was't said in these words, but Ron did say that the agreement with Sainsburys would mean that funds would become available as bills were due

 

[Rayleigh boy]

Seriously?

You bring this up every time!

We do not have 5 million in thebank. Over 3.5 million went to the tax man and debts and the rest was for bills this year.

Jeez

so sorry ..... but its not a secret is it ? and it does seem slightly relevant if RM has misplaced it and cannot pay the players -

surely it is a very important consideration andd one to consider as we listen to the high and mighty -

and its an awful lot of money to get through to then turn round and start the "we're broke" bollox - again ...you have clearly decided to suck it up -

so it must be very irritating to be reminded of the 5 MILLION pound credit facility -

oh well I expect the Accrington Stanley players got their money -

 

[undercovershrimper]

Beefy , this was't said in these words, but Ron did say that the agreement with Sainsburys would mean that funds would become available as bills were due

bills not wages

 

[Beefy]

so sorry ..... but its not a secret is it ? and it does seem slightly relevant if RM has misplaced it and cannot pay the players -

surely it is a very important consideration andd one to consider as we listen to the high and mighty -

and its an awful lot of money to get through to then turn round and start the "we're broke" bollox - again ...you have clearly decided to suck it up -

so it must be very irritating to be reminded of the 5 MILLION pound credit facility -

oh well I expect the Accrington Stanley players got their money -

We don't have £5m in the bank. You know this. We had a credit facility which we were given, almost all of which was used to pay historic debts to HMRC and clear outstanding wages from last season (a fact which you constantly ignore).

The remainder isn't a pool of funds which can be dipped into whenever we feel like it. It needs to be rationed out over two years - maybe longer now due to further delays in the stadium project. We spend more than is budgetted for now then that means that we run out of cash even sooner.

 

[Mick]

bills not wages

wage bill = the total amount of money that a company or organization pays to its employees

If Ron said bills would be paid when they became due, I wouldn't let him wriggle out of it on such a flawed question of terminology.

The staff wages are one of the most important bills an organisation has to settle ..... oh and the tax bill too (or is that a demand, not a bill?)

 

[Onion_Bag_Dave]

wage bill = the total amount of money that a company or organization pays to its employees

If Ron said bills would be paid when they became due, I wouldn't let him wriggle out of it on such a flawed question of terminology.

The staff wages are one of the most important bills an organisation has to settle ..... oh and the tax bill too (or is that a demand, not a bill?)

Tax bill = Insignificance/Annoyance

 

[Beefy]

I don't think he even said bills. I think he said something along the lines of having got the funding in place in order for us to meet our liabilities as they fall due. Something like that. Wages would certainly fall under that.

It was never going to mean that we were never going to have these problems again though. I just hope we're up to date with our taxes.

 

[Cricko]

I don't think he even said bills. I think he said something along the lines of having got the funding in place in order for us to meet our liabilities as they fall due. Something like that. Wages would certainly fall under that.

It was never going to mean that we were never going to have these problems again though. I just hope we're up to date with our taxes.

Is there not some PFA or league ruling now, that states they have to paid and up to date each month?

That of course does not mean we have paid this months though.

 

[EastStandBlue]

Is there not some PFA or league ruling now, that states they have to paid and up to date each month?

That of course does not mean we have paid this months though.

Was mentioned last week, IIRC. It's a HMRC mandate that football clubs pay automatically on the 18th (?), and if payment isn't received they're automatically hit with an order.

 

[MattLloyd]

If January wages to players and staff are not paid in full by today the PFA will be called in and an order issued.

This means a complete embargo on any transfer dealings.

 

[Onion_Bag_Dave]

Wait a sec, the wages have been played haven't they?

 

[Cricko]

Wait a sec, the wages have been played haven't they?

Not all staff have been paid...apparently players have but some staff are waiting and should be paid today according to TB.

 

[Beefy]

Surely the PFA can't come in if it's non-playing staff who haven't been paid?

 

[Onion_Bag_Dave]

Surely the PFA can't come in if it's non-playing staff who haven't been paid?

This is correct.

Not all staff have been paid...apparently players have but some staff are waiting and should be paid today according to TB.

Being paid late is not great, but you get on with it. It's not fair at all though.

How late are the wages being paid?

 

[Cricko]

Surely the PFA can't come in if it's non-playing staff who haven't been paid?

Well we can only take the clubs word that the players have been paid.....I would hardly think they would say anything else especially as the shyte would hit the fan in more ways than just the PFA.