Financial meltdown

[viaductbaggies]

Looks like we’ve got no money for the wages this month

[Johnny on the spot 1]

Looks like we’ve got no money for the wages this month

It Just gets better & better .

[SCOOP115]

Looks like we’ve got no money for the wages this month

Sensationalist reporting from sources that should know better. It's nothing of the kind

[WBA123]

He could have got this overdraft without releasing this info to the press, so what's his motive for doing this - to place responsibility firmly at the feet of those previously in charge. Plus perhaps also to publicly state that our top earners are available?

So I'm not sure we're at 'meltdown' level yet. He's said we need an overdraft to pay the wages. But look at the end of the season. Sturridge/Barry/Krychowiak won't be on the wage bill any longer. Plus we'll get mostly get shot of our other top earners Evans/Livermore/Chadli etc.

I think this is just a tactical public move from Jenkins.

[viaductbaggies]

Is this the reason pardew not been sacked as can’t afford his pay off ?

[BaggieBlood]

I heard this on the talksport's sports bulletins every half hour and don't understand how anything could have changed so dramatically that we are now all of a sudden skint.

The Sturridge wages were "paid" for the Roberts fee and everything else is the same as from last summer's budget would have been adhered, the budget having been in place a fair while before being spent.

The only motive I can see for doing this is that the poor staff who will be given their p45's don't kick up a fuss when they know that the beloved club is skint and needs for them to go quietly.

I don't believe, that it is to alert other clubs to our players being available, as their agents having already started that ball rolling, as evidenced by the Jonny Evans £3m relegation release clause being out there for public consumption.

When I think about who is to blame for all this mess, it is one person Jeremy "life long WBA fan" Peace.

The greedy sod spent nowt on the ground, meaning our matchday infrastructure is essentially the same as under Paul Thompson (who sanctioned the East Stand), little on the team, and made the statement that we were a mid table championship club.

No Jeremy we weren't but your penny pinching and sale to "someone who would have the best interests of the club at heart", has made your "inspiring" statement a long term reality.

Whilst local talent like Redmond, Gray and Butland ended up at Norwich. Leicester and Sjoke respectively, Peace ensured the aging Mozza got another 2 year extension to sit on the treatment table, before selling us to Lai, who looks like he's too young to get Laid, let alone run a prem club, so "took" JP's wise advice (well wouldn't you after he'd just raked in £180m after putting in very little) and gave the jobless Williams and Goodman jobs to run our great club like JP did, so he could take about £10-20m a season out as dividends from the prem riches.

Fans are entitled to blame whoever they like but, Peace is the C*** that has put us where we are.

[holmleighchris]

Surely our Oriental leader should put his hand in his pocket to pay this, not take an over-draught?

[splinter]

Looks like we’ve got no money for the wages this month

Anyone going to organize a whip round this Saturday.

[Whicka_Mon]

Humour me folks.
But I am not entirely sure why all this has come out and don't fully understand what it means or what he's on about. Doesn't seem like the right time to come out with it.
I heard him on WM saying they are doing something with ticket prices. Wasn't it him and his mate who put em up 50 notes in the first place ?

[Yarmbaggie]

What is the problem with being overdrawn as long as it is within an agreed limit and within the clubs means. How many other PL teams do not have huge borrowing already? Not many I suspect.

I agree with 123 that the cash flow position will improve dramatically when the loan players move back to their clubs. I am less confident that we will move on the higher salary players though. Would you want to be paying the likes of Livermore, Morrison and Chadli top dollar based on their performances this season. I wouldn’t.

Also cannot for the life of me understand why this is in the public domain. Surely most multi million turnover businesses have overdrafts and Peace’s fixation with keeping us in credit hasn’t done us well over the last few seasons. To do that you just under invest, both players and assets, and ultimately you have to pay even more to catch up with those who have moved forward.