Financial ineptitude at FFC - a sorry tale

[Neil D]

Today's 'Guardian' has a big spread on last season's reports from Companies House filed by all 20 clubs.  We were not only dire in footballing terms but also financially.  FFC made the biggest loss (£33m) and had the highest wage bill as percentage of turnover (76%).   Norwich were also relegated but they managed a profit of £9m.  Turnover at  £91m was the 16th highest but the wage bill (£69m) was the 9th highest.  This isn't a case of having to pay higher wages because of London costs  - Palace's was just £46m. West Ham just a million more than Fulham's.  The net debt of £24m was, though, more modest than most.

[Andy S]

The problem is Fulham is a London club. Everything from the wages to rates on the ground affect the club and what it does. I would bet you that Norwich Council Tax is a lot less than Fulham's. Inner London Weighting on wages of all staff. its not cheap running a football club and very few make money.

[MJG]

Neil not sure if you have read my two takes on this situation

http://www.vivaelfulham.co.uk/articles/fulham-a-financial-look-at-what-went-wrong--7-587.html

http://www.vivaelfulham.co.uk/articles/fulhams-finances-part-2-7-594.html

[MJG]

Palace were back in the PL and doubled their wages from year before so I don't think that's a fair comparison. Norwich also had some good transfer dealings and deal with jumping League's better than most.
Our actual figures are fairly good when you actually put them side by side with clubs and take into account ground capacity for example.

[Neil D]

Neil not sure if you have read my two takes on this situation

http://www.vivaelfulham.co.uk/articles/fulham-a-financial-look-at-what-went-wrong--7-587.html

http://www.vivaelfulham.co.uk/articles/fulhams-finances-part-2-7-594.html

Thank you, MJG.  Part 2 was particularly interesting where you contrast finances in the Championship with the PL.  I am puzzled by one stat, though.  You say Sky money this year is £1.9m but broadcasting income is £26m.  Surely, the balance hasn't come from the BBC's highlights package?

[MJG]

TV money (broadcasting income) includes this year's parachute money

[Neil D]

TV money (broadcasting income) includes this year's parachute money

Ah - thanks for the clarification.

[H4usuallysitting]

I must say our squads over the last few years have been huge......have never understood this