Club must save £4 million

[TFF]

http://www.getreading.co.uk/sport/footb ... e_4million

A board meeting has been called at Madejski Stadium next week as Reading look to save around £4million.

The Reading Post understands Royals will still have to cut more costs to balance the books due to the loss next season of the £12m Premier League parachute payment.

Chairman Sir John Madejski will also sit down with director of football Nick Hammond and manager Brian McDermott to thrash out the club’s transfer budget.

The worry among fans is that Royals could be forced to sell star names to help reduce the deficit.

Top-flight clubs have been linked to McDermott’s stars with Gylfi Sigurdsson and Adam Federici, both rated at more than £2million, attracting the most interest.

But Hammond insists he and McDermott will be stressing that Reading need to hold onto their best players for the 2010/11 campaign.

He said: “I am sure that the board will be looking at all sorts of measures to help finance and support the club, but it is difficult to say what we may or may not have to do.

“Brian and I will be presenting our case and the board meeting will be key to understanding what the numbers are for next year and what me and the manager need to do to make everything fit.

"We should get some clarification from the board about next season’s financial position.

“It has been a fantastic end to this season and Brian and I feel that if we can keep hold of what we have got then we could move forward and challenge at the top end of the Championship.

“We have players coming to the end of their contracts that we want to keep, which needs to be sorted out and it is likely that there will need to be some trading to bring other players in.”

Last summer the club was forced to repay bank loans of £7.5million, as well as recouping a loss of £6.25million after relegation.

That sparked the sale of top- scorer Kevin Doyle, Stephen Hunt and Andre Bikey, which brought in close to £12million in transfer revenue.

But Hammond is adamant that all clubs up and down the Championship will be tightening their belts this summer.

He added: “Twelve million pounds is an incredible amount of money to go without so it will be a difficult summer, but I think it will be for all clubs at this level.”

Squeaky bum time over the summer.

[Harpers So Solid Crew]

Reality bites.

Time for players to take a hit on wages, has to happen, and has to happen all over football.

With the election due and the fallout from the financial crisis about to hit many folk will be cutting back, and football may find lower crowds. RFC have already countered that with lower prices, as have Pompy, whom you can now go and watch for £18 next season rather than £39 in the Prem.

Clubs like Palace and Ipswich will find less and less away fans go as they charge rip off prices. IHMO

[Messiah]

We epxected that though. The likes of Cisse and Matejovsky leaving will reduce the wage bill by about 25-30k a week, so there's roughly £1.5m saved alone. Ingimarsson is expected to leave as well, so I would assume that's another 8-10k a week saved (around £400-500k a year).

We also expected a tight ish transfer budget, so there's nothing to get all wound up about.

Once again we will be very reliant on the youngsters. Hopefully the likes of Jordan Obita and James Henry will break into the first team, and a few others.

[Row Z Royal]

Hopefully...James Henry will break into the first team.

LOL



And I hope he's reading this. Start trying hard, you fanny.

[Wycombe Royal]

Hopefully...James Henry will break into the first team.

LOL



And I hope he's reading this. Start trying hard, you fanny.

Hasn't he been breaking in for the past 3 years now......I think he needs to spend some time in jail to learn some new skills.....

[The whole year inn]

Dump all the dross, Cisse, Matejovsky et al

That will deal with a decent lump of it

[loyalroyal4life]

That will be Sig sold to cover the saving!!

[brendywendy]

greed, add in mooney, antonio etc and thats our 4 million innit?


if we need to sell more to buy players we could be in trouble though

[Messiah]

That will be Sig sold to cover the saving!!

That's a kneejerk reaction. Matejovsky and Cisse are almost certain to leave and are of the highest earners at the club. Ingimarsson is also rumoured to be going. That's three expensive players off the books.

[Ups and Downs]

This is exactly the rumour I heard from a friend of someone at the club last night (see the Gylfi is leaving thread). So I think it's as good as nailed on that half decent offers for our best players won't be rejected this year. Goodbye Glyfi.

It just makes you wonder what a club the size of ours would have to do to not come out of the Premiership into poverty. I mean, we spent next to nothing while we we were so what other cuts or concessions would we have had to make in order for us not to have to be selling our best players 2 years after relegation. I still don't understand why players whose wages went up in the Prem didn't come back down into line after relegation.

I'm baffled by this, I really am. You would have thought that last seasons mammoth clearout would have been enough.

[Harpers So Solid Crew]

well we know we need some defenders for a start. And possibly a decent forward that can score goals.

[ZacNaloen]

Assuming the likes of matejovsky, cisse and ingimarsson go that's probably a two or three million saved in wages alone assuming they are on about 20,000 a week, there are ways of cutting back without losing anyone we don't want to.

[Harpers So Solid Crew]

This is exactly the rumour I heard from a friend of someone at the club last night (see the Gylfi is leaving thread). So I think it's as good as nailed on that half decent offers for our best players won't be rejected this year. Goodbye Glyfi.

It just makes you wonder what a club the size of ours would have to do to not come out of the Premiership into poverty. I mean, we spent next to nothing while we we were so what other cuts or concessions would we have had to make in order for us not to have to be selling our best players 2 years after relegation. I still don't understand why players whose wages went up in the Prem didn't come back down into line after relegation.

I'm baffled by this, I really am. You would have thought that last seasons mammoth clearout would have been enough.

The wages did come down tho, but all over football wages have been going up, except at Scotland, keep saying it, but McGhee says he cannot even compete with Plymouth for wages, £6k a week at Plymouth for a player they dont even want to keep.

What I dont get is why we did not move Majey and Cisse on in last summers clear out, someone must have wanted them, sems to have been a waste of wages to me. Fecking mercenaries the pair of them, not that I blame them.

[Harpers So Solid Crew]

Assuming the likes of matejovsky, cisse and ingimarsson go that's probably a two or three million saved in wages alone assuming they are on about 20,000 a week, there are ways of cutting back without losing anyone we don't want to.

I can't see any of those being on 20k a week.

[Messiah]

This is exactly the rumour I heard from a friend of someone at the club last night (see the Gylfi is leaving thread). So I think it's as good as nailed on that half decent offers for our best players won't be rejected this year. Goodbye Glyfi.

It just makes you wonder what a club the size of ours would have to do to not come out of the Premiership into poverty. I mean, we spent next to nothing while we we were so what other cuts or concessions would we have had to make in order for us not to have to be selling our best players 2 years after relegation. I still don't understand why players whose wages went up in the Prem didn't come back down into line after relegation.

I'm baffled by this, I really am. You would have thought that last seasons mammoth clearout would have been enough.

Just fills me an unbelievable amount of frustration. Makes you feel as if promotion to the Premiership just isn't worth it for a club like ours. We got there, we didn't spend for whatever the reason (chairman making money available, or manager not wanting to spend it..) and so we come back down and for three further seasons we are having to constantly readjust our finances to get by. So what's the point?

EDIT: 666 posts

[Harpers So Solid Crew]

The point is that we were there, and now we all know we can get back, it is a matter of taking it easy, not promising too much, and waiting for football finances to get back to reality, the same as ours seem to be.

[ZacNaloen]

Assuming the likes of matejovsky, cisse and ingimarsson go that's probably a two or three million saved in wages alone assuming they are on about 20,000 a week, there are ways of cutting back without losing anyone we don't want to.

I can't see any of those being on 20k a week.

I can, quite easily, considering they haven't had new contracts negotiated since we got relegated.

[W&E Royal]

Really? Club captain who has signed many a new deal with us, Ingi is defo on £20k a week. Cisse and Matejovsky maybe not but they will be on about £15k

[Royalwaster]

This is exactly the rumour I heard from a friend of someone at the club last night (see the Gylfi is leaving thread). So I think it's as good as nailed on that half decent offers for our best players won't be rejected this year. Goodbye Glyfi.

It just makes you wonder what a club the size of ours would have to do to not come out of the Premiership into poverty. I mean, we spent next to nothing while we we were so what other cuts or concessions would we have had to make in order for us not to have to be selling our best players 2 years after relegation. I still don't understand why players whose wages went up in the Prem didn't come back down into line after relegation.

I'm baffled by this, I really am. You would have thought that last seasons mammoth clearout would have been enough.

Just fills me an unbelievable amount of frustration. Makes you feel as if promotion to the Premiership just isn't worth it for a club like ours. We got there, we didn't spend for whatever the reason (chairman making money available, or manager not wanting to spend it..) and so we come back down and for three further seasons we are having to constantly readjust our finances to get by. So what's the point?

EDIT: 666 posts

Truth is that unless you've got an owner who is willing to subsidise the club, you simply can't compete with Prem clubs. I look at clubs like Ipswich and Forest who have spent massively this season and I do wonder what their finances must be like ....

[Ups and Downs]

This is exactly the rumour I heard from a friend of someone at the club last night (see the Gylfi is leaving thread). So I think it's as good as nailed on that half decent offers for our best players won't be rejected this year. Goodbye Glyfi.

It just makes you wonder what a club the size of ours would have to do to not come out of the Premiership into poverty. I mean, we spent next to nothing while we we were so what other cuts or concessions would we have had to make in order for us not to have to be selling our best players 2 years after relegation. I still don't understand why players whose wages went up in the Prem didn't come back down into line after relegation.

I'm baffled by this, I really am. You would have thought that last seasons mammoth clearout would have been enough.

Just fills me an unbelievable amount of frustration. Makes you feel as if promotion to the Premiership just isn't worth it for a club like ours. We got there, we didn't spend for whatever the reason (chairman making money available, or manager not wanting to spend it..) and so we come back down and for three further seasons we are having to constantly readjust our finances to get by. So what's the point?

EDIT: 666 posts

Truth is that unless you've got an owner who is willing to subsidise the club, you simply can't compete with Prem clubs. I look at clubs like Ipswich and Forest who have spent massively this season and I do wonder what their finances must be like ....

Well that's it, unfortunately. Madejski is never gonna bank roll this club and pump untold millions in without ever wanting something back out of it. And who could blame him.

With our current set up, would anyone actually want to go back to the Premiership, spend no money again, get relegated and have to endure watching any saleable assets walk out the door for the following 2 years? I'm not sure I'd be that bothered.