DUDE 0 Posted January 24, 2013 Share Posted January 24, 2013 some of our own fans and even the club are falling into the trap too. assuming it is going to happen. yeah rapid vienna mate. I see what you mean. I'm no big fan of this Cinderella story talk either. And taking a fast move upwards for granted is dangerous, I have to agree. What was the issue with them? I must've missed out on that. 0 Quote Link to post Share on other sites More sharing options...
kuznetsov 0 Posted January 24, 2013 Share Posted January 24, 2013 I see what you mean. I'm no big fan of this Cinderella story talk either. And taking a fast move upwards for granted is dangerous, I have to agree. What was the issue with them? I must've missed out on that. nothing really, it was more them panicking, thinking we wouldnt pay them what we owed them for jelavic. i am sure we also missed a payment previously. apparently they were being warned by certain celtic minded people that we were trying to dodge payment hence their public statements. mud sticks though. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,066 Posted January 24, 2013 Share Posted January 24, 2013 Here's a point from last night's meeting that I thought was maybe worthy of discussion in a new thread: Green apparently said at the meeting that we're running at a loss and the reason for it is the wage bill, specifically high earners who've been kept on because we'll need them on our return to the top. Not his exact words, but that's the gist of what was said by the sounds of it, right? Well, how many times has Green boasted about the health of our finances and that our wage bill has been massively reduced to a fraction of our turnover? He's talked about it repeatedly including during his recent interview on Sky, so I find it hard to fathom how it can be both. He can't say we've massively reduced the wage bill to a fraction (was it about a third?) of the turnover, then turn round the next week and say we're running at a loss this season due to the high wage bill. Am I missing something here or is this a complete contradiction? Take a look at board remuneration if Green, Stockbridge and Ahmed get their bonuses as set out in the IPO document then that alone could be skywards of £2m. Why do we still employ the Travel Club staff when there won't be a Travel Club as such for at least another 3 years? Why do we still have a full complement of hospitality staff when hospitality is substantially down? etc. etc. 0 Quote Link to post Share on other sites More sharing options...
EDGE 0 Posted January 24, 2013 Share Posted January 24, 2013 Did Green not say something along the lines of "wages are capped at 30% of turnover and I've promised investors that will never change"? 0 Quote Link to post Share on other sites More sharing options...
kuznetsov 0 Posted January 24, 2013 Share Posted January 24, 2013 Did Green not say something along the lines of "wages are capped at 30% of turnover and I've promised investors that will never change"? not a good way of selling season books for the long seasons ahead! 30% wages to turnover will never work. you would need a top scouting network and cracking head coach for a start. 0 Quote Link to post Share on other sites More sharing options...
ComeOffit 0 Posted January 24, 2013 Share Posted January 24, 2013 Take a look at board remuneration if Green, Stockbridge and Ahmed get their bonuses as set out in the IPO document then that alone could be skywards of £2m. Why do we still employ the Travel Club staff when there won't be a Travel Club as such for at least another 3 years? Why do we still have a full complement of hospitality staff when hospitality is substantially down? etc. etc. Ahmeds bonus was actually undisclosed in the share prospectus. It just said to be decided on performance. Could be a tenner or a million. Probably closer to a million seeing as his best buddy green decides the amount. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted January 24, 2013 Author Share Posted January 24, 2013 Take a look at board remuneration if Green, Stockbridge and Ahmed get their bonuses as set out in the IPO document then that alone could be skywards of £2m. Good point. I would also presume that certain payments they've made (or agreed to make) for previous player transfer debts adds up to a fair amount and that's something I wasn't thinking about earlier. Why do we still employ the Travel Club staff when there won't be a Travel Club as such for at least another 3 years? Why do we still have a full complement of hospitality staff when hospitality is substantially down? etc. etc. More good points. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted January 24, 2013 Author Share Posted January 24, 2013 Did Green not say something along the lines of "wages are capped at 30% of turnover and I've promised investors that will never change"? Yes, a 30% wage cap was spoken about having been introduced. I think it's basically a case of our wages to turnover ratio was brought down to that level and the intention is to keep it that way for the foreseeable future. I can't figure out how that's going to work though. If this 10 million transfer kitty for the manager actually materializes, then you'd have to assume that the wage bill is going to increase when players are bought in. Maybe the 10 million kitty that's sitting waiting will never see the light of day though... 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,066 Posted January 24, 2013 Share Posted January 24, 2013 Ahmeds bonus was actually undisclosed in the share prospectus. It just said to be decided on performance. Could be a tenner or a million. Probably closer to a million seeing as his best buddy green decides the amount. Indeed nor are the actual factors that deem the bonus to be payable mentioned plus it just needs to be approved by the Chairman or CEO. Effectively it looks like his bonus will equate to a tax on our commercial contracts. 0 Quote Link to post Share on other sites More sharing options...
DUDE 0 Posted January 24, 2013 Share Posted January 24, 2013 Yes, a 30% wage cap was spoken about having been introduced. I think it's basically a case of our wages to turnover ratio was brought down to that level and the intention is to keep it that way for the foreseeable future. I can't figure out how that's going to work though. If this 10 million transfer kitty for the manager actually materializes, then you'd have to assume that the wage bill is going to increase when players are bought in. Maybe the 10 million kitty that's sitting waiting will never see the light of day though... The only way to make this deal work is by increasing the income. Not sure if Green had this in mind when he stated that. 0 Quote Link to post Share on other sites More sharing options...
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