Record Losses....

[Rudy Can't Fail]

£12m on 'exceptional charges' in relation to managerial changes is enough to bring tears to the eyes.

That doesn't include the compensation we paid the Rags to talk to McCleish.

[Matt C]

Exactly - O'Neill (plus staff) & Houllier (plus staff) only! £12m!!!

[Fergal]

I could have saved the villa millions in wasted wages.  DONT SIGN OVER AGE OVER RATED PLAYERS LIKE HESKEY ON65K A WEEK.
Simples
Who advised on that one? and all the others that were signed on stupid salaries Beye anyone?

[Tezmond]

nothing available for "Reform Acquisitions Ltd" from Companies House yet for details. A quick overview can be found at: http://companycheck.co.uk/company/05891280 when the financials are published by Companies House.

Would expect bad results for 2010/11 and probably again for 2011/12 - lets hope last years player sales and this years contract expiry dates finally get us on an even keel. 

[cheltenhamlion]

When did Houllier leave? Is his payoff included? I have a suspicion it might not be.

[Rudy Can't Fail]

His departure was officially announced on the 1st June, so we are to assume all compensation was agreed by May 31st.
Not sure about Gary McAllister though.

Edit: Just checked, GM officially left on 18th June, so will only appear in next yearsaccounts.

[Percy McCarthy]

When was O'Neill's and AM's compo agreed?

[montague]

Wouldnt have happened on Dougs watch!

[Rudy Can't Fail]

When was O'Neill's and AM's compo agreed?

We reached agreement with the Scab on 25th of May. We agreed to pay the Rags on 11th of July, so it will only appear in next years accounts.

[Dave Clark Five]

Why do football managers have such contracts? In what other jobs does sacking for gross incompetence result in compensation?

[Dante Lavelli]

Why do football managers have such contracts? In what other jobs does sacking for gross incompetence result in compensation?

I would imagine that they do not literally breach their contracts, i.e. they put teams out which comply with the relevant rules.  it would be very hard to prove that poor performance was due to a breach of contract or negligence.

[Steve R]

I doubt if transfer fees are the issue. It's the 12 million (which may or may not include Houllier + staff) for management changes and the ridiculous salaries we have been paying.

I assume the figure will include both O'Neill's and Houllier's departures, even though some of that cost was borne after 31st May.

It still boils my piss that O'Neill was allowed to throw money out of the window left right and centre, and then help himself to a wedge after shitting on the doorstep on the way out. Far more damaging to the club than the 'five days before kick-off' issue, which was bad enough in itself.

[kippaxvilla2]

His departure was officially announced on the 1st June, so we are to assume all compensation was agreed by May 31st.
Not sure about Gary McAllister though.

Edit: Just checked, GM officially left on 18th June, so will only appear in next yearsaccounts.

In all likelihood they made an accrual for it.....surely.......

[Fergal]

I don't want Randy to sell up and move on because he just ain't rich enough to make us compete.  I want him to sell up because he has no idea how to run a football club and is going to ruin us.

[Rudy Can't Fail]

His departure was officially announced on the 1st June, so we are to assume all compensation was agreed by May 31st.
Not sure about Gary McAllister though.

Edit: Just checked, GM officially left on 18th June, so will only appear in next yearsaccounts.

In all likelihood they made an accrual for it.....surely.......

Nope. Somebody made a hell of a lot of money dumping on Aston Villa.