Morris confirmed as investor / shareholder

[jasper_T]

We have a bottom third budget, the Chief Executive told everyone that in a press conference, that’s a person actually on the ground working with the club seeing it’s finances day to day, where we finished last season was where we should be, mid table.

Am I right in saying only 5 clubs have sold more than us aswell? How much did Coventry make in transfers last season?

It's funny how that is the one thing you seem content to believe club officials about. Silverstein talks sense to a stroppy child on Twitter and you are convinced his every word is a filthy lie, but Julian Winter says "I would say our wage budget is probably in the bottom third in the Championship. Being honest, that's about where we are" in a fans forum and you're more sure of it than he was.

Frankly there's very little difference between the spending of the middle 3/5ths of the Championship, and we're firmly in that bracket, and nearer the top of it than we'd like based on the last published accounts and transfers since. Every club has cut back spending since the pre-Covid peak insanity, and I imagine half the clubs think they're "probably bottom third" now. We spend far less than parachute clubs, but far more than the minnows (like Luton) or the embargo crew.

Transfermarkt (I know, take with a pinch of salt) actually puts us 12th for transfer income over the last two Championship seasons, and 10th for expenditure. But that includes promoted/relegated sides. We're just an average Championship side making a steady profit on player trading trying to support a bloated wage bill, better than some, worse than others. Stoke have brought in 2x our revenue and 4x the profit trying to steer themselves clear of FFP mischief.

 

[Risc]

It's funny how that is the one thing you seem content to believe club officials about. Silverstein talks sense to a stroppy child on Twitter and you are convinced his every word is a filthy lie, but Julian Winter says "I would say our wage budget is probably in the bottom third in the Championship. Being honest, that's about where we are" in a fans forum and you're more sure of it than he was.

Frankly there's very little difference between the spending of the middle 3/5ths of the Championship, and we're firmly in that bracket, and nearer the top of it than we'd like based on the last published accounts and transfers since. Every club has cut back spending since the pre-Covid peak insanity, and I imagine half the clubs think they're "probably bottom third" now. We spend far less than parachute clubs, but far more than the minnows (like Luton) or the embargo crew.

Transfermarkt (I know, take with a pinch of salt) actually puts us 12th for transfer income over the last two Championship seasons, and 10th for expenditure. But that includes promoted/relegated sides. We're just an average Championship side making a steady profit on player trading trying to support a bloated wage bill, better than some, worse than others. Stoke have brought in 2x our revenue and 4x the profit trying to steer themselves clear of FFP mischief.

Ah yes, you believe the words of Jake Silverstein a hedge fund manager, fair enough, try speaking to people who have actually dealt with the bloke and you’ll see why I don’t believe a word the bloke says.

Your last paragraph I agree with mostly so what point are you making? We finished tenth. The wage bill is signicantly lower now aswell, we shall see when the accounts are published.

 

[jasper_T]

I don't think our wage bill will be significantly lower for a while yet. The vast majority of players are on the exact same contracts. Avoiding costly loans in January and shedding Obafemi for half a season maybe saved a few million, but nowhere near getting us down to the budget clubs. The number only goes down dramatically if players actually get sold this summer.

 

[guthrieintherain]

Manning,Latti,Piroe and Grimes will be on good salaries.

 

[jasper_T]

Manning,Latti,Piroe and Grimes will be on good salaries.

Latibeaudiere was on a very low wage compared to other first team players.

 

[Uxy]

Ah yes, you believe the words of Jake Silverstein a hedge fund manager, fair enough, try speaking to people who have actually dealt with the bloke and you’ll see why I don’t believe a word the bloke says.

Your last paragraph I agree with mostly so what point are you making? We finished tenth. The wage bill is signicantly lower now aswell, we shall see when the accounts are published.

If it’s any consolidation (it won’t be) I think you’re both right and both wrong.

Jasper’s right that Winter wasn’t correct in what he said there, and everything about how we’re overspending. Just look at last years accounts. The deficit is massive, and would have been much worse without Downes. We’re not cutting out cloth, and I’m not convinced any owner investment is actually fully covering the deficit, it’s just doing enough. We’re mid table in every sense. Also think he’s damn right about what we need to do, but we won’t do it, not a chance. The fans wouldn’t like it either, but it’s necessary if we actually want to ensure we have a club.

Risc is also right that you can’t mock someone for believing Winter and then go and believe Silverstein. Firstly, why on earth is he giving chapter and verse to some teenager on twitter. Bloody hell. Secondly, it was largely deflecting bullshit. The reason we didn’t buy in January is we didn’t have a pot to piss in. Stop saying it’s not a cash issue and it’s really down to the incompetence of the staff here that they didn’t bring him anyone decent to buy. The more he goes on, the more he just seems like a Trust Fund Dineen.

 

[Risc]

:lol: FFS Risc, get a grip. :lol:

The question is a good one - what’s in it for him? People with money like to keep it, he’s not doing it because he fancies owning a football club in the near future - there could be several reasons for getting involved but that ain’t one of them. :lol:

You'll have to speak to your people then and get them onto Morris and ask what's in it for him.

Investing into a football club is not the easiest way to make money, he's wanted to invest in a football club for a long time and like I said yesterday, he was in talks with Spurs at one point. I'd hope the reasons behind it are to get us into the Premier League, improve us in all areas, and if he then sells up, to not do it like the last lot did.

 

[TheLoneRanger]

No it's nothing to do with your weird Martin love in

Martin and backroom staff MK Dons undisclosed
Kyle Joseph undisclosed reportedly 800k
Piroe undisclosed reportedly 1m odd
Liam Walsh free
Paterson big signing on fee
Downes undisclosed reportedly 1m odd
Obafemi undisclosed reportedly 1m odd
Ntcham big signing on fee
Fisher undisclosed reportedly 400k
Ogbeta undisclosed reportedly 400k
Laird loan
Christie loan
Williams loan
Burns loan

We finished 15th

Darling undisclosed reportedly 2m
Wood undisclosed can't find any quotes
Allen big signing on fee
Fulton bumper new contract
Grimes bumper new contract
Paterson bumper new contract
Sorinola loan
Stevens loan
Oko-Flex loan
Cundle loan

We finished 10th

About 15m+ spent in two seasons and expensive contracts we limp to 10th after going 20 games with one win against 11 men.. and contractual situations make us 8th on wage bill, not 7th

Edit: this was for this season and last, not with the new 3 parachute teams that have got relegated.. we're probably about 11th now, with Latibeaudiere and Manning off the books

"Martin and backroom staff MK Dons undisclosed"

We paid them approx £400K.

 

[Magic_Michu]

I don’t think we’re a bad investment… we’re not a million miles off a team capable of promotion… anyone investing now could sell and make 10x back if they sell their shares if we get to the Premier League.

 

[Itchysphincter]

You'll have to speak to your people then and get them onto Morris and ask what's in it for him.

Investing into a football club is not the easiest way to make money, he's wanted to invest in a football club for a long time and like I said yesterday, he was in talks with Spurs at one point. I'd hope the reasons behind it are to get us into the Premier League, improve us in all areas, and if he then sells up, to not do it like the last lot did.

Me too, just saying that people with money aren’t in business so of losing it, unless they need to, so having looked at the books over the last few years there must be a genuine financial reason for investing, it won’t be a football one.

 

[Cinio Dydd Sul]

I don’t think we’re a bad investment… we’re not a million miles off a team capable of promotion… anyone investing now could sell and make 10x back if they sell their shares if we get to the Premier League.

It depends on the amount invested though. We have a small squad and are likely to lose some further key players this summer for nothing or lower than their value due to being late into their contracts. Couple that with the competition to get promoted (Soton/Leicester/Norwich/Leeds) and the lack of staff continuity / uncertainty (we're still managerless) means we probably need a very sizeable cash injection directly into the playing squad to compete and really spot on scouting and luck that the signings hit the ground running.

Going just on what Morris has put in though and considering our deficit, we won't come close to having big war chest. Unless Piroe can be sold for a fee that would surprise everyone.