Guest GudniB Posted March 13, 2016 Share Posted March 13, 2016 (edited) OK. I believe we are in agreement that player contracts were the biggest problem but let me give you some stats: Operating Losses 2004/05 to 2013/14 Aggregate £162m Best year 2004/05 Profit £1.9m Worst year 2012/13 Loss £50.7m Directors’ Remuneration 2004/05 to 2013/14 Aggregate £9.2m Lowest 2004/05 £626,000 Highest 2011/12 £1.4m (includes Duckworth pay off) We were relegated in 2011/12 and the loss in 2012/13 included the cost of writing off excessive player contract costs. (The amount for 2010/11 was £1.2m and did not include pay offs) These figures tell us that directors’ remuneration was extremely generous despite continuously poor financial performance. There is no indication of anything being paid to Eddie Davies (quite the opposite) but why did he allow it to happen? There appears to have been little effective questioning because control rested with one individual. Fair enough Gudni, but you've fallen into the trap of arbitrary digs at the 'faceless suits' again. I heard that Duckworth was well respected, that considerable expense to pay him off was considerably less than say Tyrone Mears trousered from us for a kick off. A pay off is always going to look a horror show in the accounts. Maybe if we kept hold of Duckworth we wouldn't be in this mess, who knows? We probably needed more board level interference in transfers since we came down as the traditional model has not worked, which in fairness you acknowledge at the end of your post. Edited March 13, 2016 by GudniB Quote Link to comment Share on other sites More sharing options...
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