My conclusions from reading the statements.

On Webbers 2nd attempt at the PL we did a calculated gamble of providing more resources for players/loans after the accusation we didn't do it on the 1st attempt.
We know it didn't work ( and as all promoted clubs are finding) it's extremely difficult to stay up even with massive investment.
The 52% drop in the wage bill shows some fiscal responsibility is in place at the club.
Even so we decided not to sell some of our better assets at the beginning of last season in the hope we could yo yo for a third straight time.
If anything last season was the biggest gamble.
It didn't work but as this years accounts will probably show when released next year we went into belt tightening mode.
Dropping some of the bigger contracts at the club and also selling a number of players to raise funds.
I expect that to continue unless we start to see success on the field
The transfer in of free agent experienced players was clearly deliberate tactic knowing that the remaining squad would be extremely young (cheaper)
The hope was the balance of young players with a few experienced heads would see success.(within our budget)
Overall the 27m loss looks to have been covered by the selling of the players and also the Maddison money.
Ironically the 2nd time Maddison money has filled a financial hole at the club.

To my mind we are a well run club but at the same time we take calculated financial risks with more upside than downside.
Because we have such great income from the commercial side and gate receipts, COVID probably cost us 30-40m, which def hurt the planning.

I find it interesting that a lot of fans continue to call for ground expansion when another 40m in debt would be crushing at this time.

Overall I think the accounts are reasonably positive.
We won't be going into admin any time soon or we won't have to resort to scummy ground selling schemes to faux balance the books.

Posted By: usacanary on November 10th 2023 at 10:32:07

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