The Accounts are out.

[PaulWinch again]

It'll be interesting to see the accounts as I'm not sure I can work out Robin Russell's comment that as we near the end of this season we're financially self-sufficient.

However his comments do support what a lot of us have been saying, that by this summer the wage bill should be largely sorted and we may well see a very different transfer window.

To counter that since it's taken a number of years to sort the wage bill, why would we through all that away and spend big in the summer? Short of a massive revenue stream coming in I can't see it.

[Meanwood Villa]

It'll be interesting to see the accounts as I'm not sure I can work out Robin Russell's comment that as we near the end of this season we're financially self-sufficient.

However his comments do support what a lot of us have been saying, that by this summer the wage bill should be largely sorted and we may well see a very different transfer window.

To counter that since it's taken a number of years to sort the wage bill, why would we through all that away and spend big in the summer? Short of a massive revenue stream coming in I can't see it.

Isn't the new TV deal supposed to be a massive revenue stream?

[PaulWinch again]

Maybe, but I'd be surprised. It would seem to counter everything the club have done over the last few years. Why spend all this time sorting the wage bill and then make it huge again in one summer.

[Fergal]

Maybe, but I'd be surprised. It would seem to counter everything the club have done over the last few years. Why spend all this time sorting the wage bill and then make it huge again in one summer.

If the wage bill is mostly where they want it to be why not buy a couple of the players we so desperately needed in the January transfer window?

[Chris Harte]

The article doesn't mention it but I wonder what percentage of income was going out in wages during the time period the report covers.

[Stu]

Brilliant news regarding the debt, it was something I was getting pretty worried about as per the Kendrick thread a couple of days ago.

[Stu]

Maybe, but I'd be surprised. It would seem to counter everything the club have done over the last few years. Why spend all this time sorting the wage bill and then make it huge again in one summer.

I don't think we can do this anyway because of FFP?

Of course, it doesn't affect the clubs that have already bought their success and consequently have pretty secure revenue streams to count on.

[Ad@m]

The article doesn't mention it but I wonder what percentage of income was going out in wages during the time period the report covers.

From memory the 2012 accounts showed wages of £70m against revenue of £80m - ie 87/88%.  If revenue is up to £83/84m and the £3m reduction in non-player amortisation all related to wages (which it may not do) the ratio would still be around 80% - ie too high.

But as others have said, these figures still include Bent, Given, Ireland, Hutton, etc so should fall further in the 2014 numbers.

[andrew08]

Man City's revenue streams must be pretty high then. Somebody buying an executive box for half a billion I expect.

[aj2k77]

Man City make there revenue streams up by basically selling their own image rights, intellectual property etc to themselves for over inflated ammounts.

I believe it was something like £28m they sold their name to some company in America to set up an affiliate side over there and an around £10m to set up a ladies side. So there nearly half our revenue on 2 bogus deals.

[Ad@m]

Maybe, but I'd be surprised. It would seem to counter everything the club have done over the last few years. Why spend all this time sorting the wage bill and then make it huge again in one summer.

I don't think we can do this anyway because of FFP?

Of course, it doesn't affect the clubs that have already bought their success and consequently have pretty secure revenue streams to count on.

FFP shouldn't come in to it. You can make £100m of losses over a 3 year period without breaching FFP.

Over the past few years we've been reducing the base level of our wages. That's not the same as never paying players high wages again. Once the base is down to a sensible level, as Russell seems to be saying it now is, then we can spend higher wages on a small number of decent players and still be within the wage structure we seem to have set.

[john2710]

However his comments do support what a lot of us have been saying, that by this summer the wage bill should be largely sorted and we may well see a very different transfer window.

I wouldn't count on it, I can't see us getting out of one financial hole & then putting ourselves straight back into another.  Any progress will be made in small steps & based on players being good value / earning the right to good contracts. I would also expect re-investment from player sales.

[Fergal]

One or two "Randy is making a fortune out of our club" folk need to bookmark this.

Don't they just. And maybe even read it.

I have read it and stand corrected about how I felt about our finances.  Randy has still managed to make a total bollox of things though.  Before we get carried away with how fantastic he is let's remember where we are and what's happening on the pitch.
On a personal note the 'Don't they just. And maybe even read it.' Comment makes you look like a smug school boy sucking up to the teacher.

[silhillvilla]

Randy's gesture of £90.1m is amazing and in my own little way I will give a bit back tomorrow by purchasing a programme and not just a balti pie but also a portion of hot chips.

[Chris Smith]

Maybe, but I'd be surprised. It would seem to counter everything the club have done over the last few years. Why spend all this time sorting the wage bill and then make it huge again in one summer.

If the wage bill is mostly where they want it to be why not buy a couple of the players we so desperately needed in the January transfer window?

I doubt it was for want of trying. Deals were rumoured, one was made very public, but to buy anything you need to have a willing seller.

I think as most people had assumed, everything has been geared towards this summer being the key one. After that there will be no hiding place, it's time for board and manager to deliver and demonstrate (to fans) that the pain of the last two years was a price worth paying.