Vital Football

Will we ever learn?

Will we ever learn?

You would think that YEARS of lavish spending and massively inflated wages to go with this, all of which has taken us to the brink of financial collapse would have taught us something, right?

Evidently not...

According to Mick McCarthy and Phil Brown, at Wolves and Hull respectively, it was our 'excessive' wage payments that saw us sign 2-3 players over these clubs last summer, as we 'blew them out of the water' with our offers.

Several years of the outgoings getting nowhere near to the incomings on a monthly basis is eventually going to end in tears, and it still could for us.

Cutting these outgoings was something that was needed, yet even now - despite cutting the wage bill dramatically - it still seems that the income is barely, if it is at all, covering the expenditure, and people wonder why we are so close to collapse...

It is hard to have sympathy for an organisation that, even in the face of financial crisis, would continue to negotiate deals beyond their means, and that seems to be what we were doing in a frantic August 2009?

The most worrying thing of all (assuming we survive as 'seems' could well be the case now with a 'saviour' riding to the rescue) is that the man that had been doing these deals over the years, Peter Storrie, and was doing the deals last summer, even in the face of the financial crisis, is 'likely' to continue to do these deals in the years that 'could' lay ahead, which could well leave us with an eerie feeling of déjà vu down the line...

PLAY UP POMPEY!


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Writer:pompeyrug
Date:Tuesday February 16 2010
Time: 1:30PM

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Comments

0
Unfortunately unless you find a buyer, administration is the only feasible option as someone needs to come in and perform a massive restructure. Even if you do find a buyer, I wouldn't be surprised if several players are sold off at scrap prices just to reduce the wage bill. I feel so bad for pompey, great history, great fans, great city. Such a shame about the management of your club.
Gunnerman
16/02/2010 13:34:00
0
i read something the other day that our sky tv money plus gate receipts, sponsorship and merchandising sales etc gave us a profit of over £25M a year after our record wage bill (approx 2007/8/9) was deducted. So for people to say we should know why we are in this mess is ludicrous. We were apparently only 5/6 mill less turn over than villa and everton. gate money nowadays (and we all know ours is relatively small) is no where near the importance it once was to top flight clubs. Total mismanagement is obviously to blame, but as even us novice fans could budget ok with that yearly turnover, the blame or 'knowledge of our financial deficiencies' cannot be pinned on our door. We just have to pick up the pieces.
Super Bock 1898
16/02/2010 13:53:00
0
Yes, I hope people notice that THE MAN doing these deals for the players in question was PETER STORRIE and no-one else... Peter Storrie complained that he had no money from Gaydamak for 8 months and was negotiating all the deals himself just before the window last year. Notice that the Sky payments had to be withheld to pay Watford and now this Peter Storrie.. what have you got to say? I suggest you put some of your salary back to the club...
PompeyExile
16/02/2010 13:58:00
0
A bit rich to blame Storrie .. at the point those players were signed weren't we in Fahim's reign and if not we had no idea that Fahaj didn't have any money.. To be honest (at the time) I would have been pretty *****ed off if we were losing players to the likes of Wolves & Wigan who are known (along with Burnley) to pay peanuts.. We must stop laying EVERYTHING at Peter Storries door .. he might be the Cheif Executive but his is not the owner or the Finance Director.. Christ we'll be blaming him for the performances on the pitch next .. Sorry to rant guys but isn't it about time everybody jumped off the 'Same old Pompey' & 'Let's blame Peter Storrie' bandwagons.. Really does my head in .. We are fuelling our own fire based on what two of our relegation rivals are saying.. Should have treated this with the contempt it deserved and put it straight in the bin.. It was aimed to wind us up and boy has it done so.. We must start being clever with what we are fed by the press
Chix
16/02/2010 13:59:00
0
If i recall,didn't we have money to spend when we got back to the Prem and couldn't get any big names to join us as they all thought we were going straight back down? All fans pleading for us to get new players in! So,what is the answer? Pay inflated wages to tempt them down here - this is the result i guess
pompeymart1965
16/02/2010 14:00:00
0
... and if we have failed to learn by are mistakes .. how the hell did we manage or why did we bother to sign Tosic for £750 per week .. surely we should have paid him £80k a week just like we (didn't) pay John Utaka ..
Chix
16/02/2010 14:01:00
0
just 1 quick point Storrie is told by the financial directors how much he can offer for wages and transfer fee it is NOT him doing it off his own back, all he does is offer what he's been told he can to get the players that we so desperately needed, so to blame storrie is pretty short sighted, the whole infastructure at boardroom level needs to be torn down and built again from fresh, with people who can actually manage finances! (oh and just on the topic of utaka, £26k for a player of his supposed calibre really isn't that much so that has got to stop being banded around, whats more infuriating is the £25k Nugent is on... lol)
pompeym@
16/02/2010 14:25:00
0
M@ .. Nugent (was) is on 12-15k per week - I've had the conversation with his Dad..
Chix
16/02/2010 14:29:00
0
ahh now that makes alot more sense but then why the hell where burnley not prepared to pay his wages when their cap is £15k (if i'm not mistaken).. either way does show how much these things get blowen up in the press lol
pompeym@
16/02/2010 14:32:00
0
http://blog.emiratesstadium.info/2010/02/why-the-prem-league-is-about-to-go-bust/ good article here chaps.
Gunnerman
16/02/2010 14:39:00
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