Sheffield Wednesday Rumours Archive July 28 2013


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28 Jul 2013 18:18:33
I work as an antique dealer in London. There are lots of very wealthy Chinese in the antique trade and I know some of them. One of them tells me he knows/speaks to Sammy Yu and he tells me that he is definitely interested but any deal is some way off, believe financial requirement requested by MM which included investment in club was more than they had on table (he did not know any figures).
Yu was very impressed with way club was being run and emerged from negotiations with lots of positives about Wednesday.
For those hoping takeover imminent sorry to disappoint. I have every confidence I was being told the truth.

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Not disagreeing in what the above was saying, but how can any one say that they are impressed the way the club is being run if we got a loss of £5 million this year alone. Is MM telling us porkies, and if so why?

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All Championship clubs lose in region £5 million unless they have good cup run or attendances increase due to good league run.
Perhaps they meant funds being used wisely.

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I don't believe MM is telling lies about the clubs losses
name a club that is not losing money. Wednesday are being run on a tight budget that a lot of fans complain about but we are still losing money. Fools always say somebody, Dave Allen, Milan Manderic or any past Chairman of the club should constantly put their hand in their pocket and buy a player, any player who is the favourite at that moment. That is not going to happen unless we get an owner such as Chelsea, Man C, QPR or PSG have, we are never going to compete because it is not a fair playing field. The relegated premiership clubs have parachute payments running to many millions how can clubs such as ours compete. MM saved us and we are grateful for that but he doesn't have that kind of money that the Abramovich has. let's hope that if a new owner comes in with the money to give us a chance.

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Looks like a good start, a consortium comes in to buy us and they ain't got enough cash on the table, worrying times my friend

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If that's true, that every championship side loses £5million a year unless a good cup run, I can't see the business sense of it all.

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No they dont

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A loss of 5 million isn't too bad compared to what some others have lost such as Middlesbrough and liecester who have lost more than us and I know that Cardiff went up and got a lot of money so but I think they lost around twenty million

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I do not have any business acumen however. As a layman. What type of sensible business person would have the desire to buy a "business" which is of negative equity to the sum of £5 million? Why would a person who has sound business sense want to take on such a huge risk? It simply does not add up.

Has MM made a decision of nonsense or is this simply figures which have been exploited preparing him for his next wee 7 figure lucrative annual take home?

I smell something dodgy. BUT. Then again, as previously mentioned I have no knowledge of business issues and how affairs of this sort work.

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Football clubs are rich mens toys the majority of the owners don't care about profit look at abramovic (spelling) for example.

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Does anyone know if the Lita deal is still happening?

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Players get paid too much money end of. pugh was on £600k a year then people wonder how clubs are losing money. no wonder leeds want rid.

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Football clubs aren't businesses. You don't make money unless you're man united. That's what these businessmen need to understand {Ed001's Note - if Blackpool can make money, anyone can! The difficulty is having sustained success and making money.}

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I am dismayed with some of the comments written on these pages, individuals appear not to be able to grasp what is a fairly simple concept.
Firstly buying a football club is a speculative venture. You either have to accept as in previous post it is a rich mans toy/passion or there is a possibility of advancement through leagues to increase value of club.
I am sure everyone will agree Wednesday are a well supported club with lots of potential. If a side is promoted to Premiership even one with indifferent support the income amounts to at least £120 million per year. For a side such as Wednesday it will be at least £150 million per year (probably more). Hence if mandaric buys the club and spends £30 million clearing debts and getting up to speed once in Premiership the clubs value will skyrocket. Next year parachute payments are worth £70 million if you get relegated. Hence this puts £5 million loss into perspective.
He is happy to keep shelling out as he knows in long term money will come back.
Any consortium will try to get club as cheaply as possible, only a fool would offer asking price. Think important point in above is he wanted them to show investment plans and he was not happy with this which shows he his trying to do best for club. {Ed001's Note - you are way off on your income figures, in 2011/12, according to Deloittes, only the top 14 highest earning clubs in the world received over £150m in a year.}

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Mandaric don't have that sort of money read An article on mandaric and his wealth. was mentioned of an estimated 966 million it stated now weather you have 200 million 900 million or 5 billion your still loaded so whoever says he ain't got that money is rubbish

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The club haven't made a loss of 5 million, we aren't in the red. Financial figures are very complicated and can be construed incorrectly to help or hinder someone. There were a lot of changes the year we got promoted, a lot of promotion bonuses and add-on fees to other clubs. Wednesday are running on a tight budget so we don't repeat mistakes made in the late 90's. MM knew he had to the club had no operating cash so unless he injected funds we wouldn't go anywhere. It'll take a few season to recoup the initial injection as gate fees, shirt sales, tv rights etc help run the club day to day and hell with transfer fees. I'd take the figure with a pinch of salt, it's also a smoke screen to help us not over pay for players. If clubs think we've got a big transfer pot then they'll up the price. This is simply my opinion and small knowledge of business accounts, this is not gospel.

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Most Championship clubs lose more than £5m ours was one of the smaller losses. I think two clubs made a profit, one of which was Burnley I think. Lots of others lost 10, 20, 30 million, some of them even with parachute payments. I think Blackburn were the biggest losers

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The very rich used to buy race horses and lose loads on that, some support motor racing and lose loads on that and some buy football teams and for the huge amount of investment the profit if there is any is relatively tiny, If the super rich person were going into something to make profit, football would be the last thing he would put money into, It is in fact "Rich men toys".

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Note for Ed.
Blackpool have parachute payments which has helped them make profit.
I upped figures of income in line with increased TV income for forthcoming season. You will note this years play off final was judged as being worth £120 million. When Wednesday were in top flight we easily managed to get into top 30 clubs in Europe in terms of income. With correct investment this would be possible again. {Ed001's Note - Blackpool have been in profit for 12 years now, not sure how you figure out the parachute payments make any difference to that! Your figures are insane, they are based on this nonsense about the play off final being worth £120m, which is just Sly talking out of their backside. The £120m figure is the amount which the winning team would get in total. It includes money from the final itself, the money received from a year in the Prem, then the entire total of the parachute payments over the years they are paid for. It is not £120m in the bank there and then!}

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Whoever said that football is not a business is very deluded. If anyone thinks MM bought our club because he was doing a good deed, well your just simple. MM will make a profit from us, but I'm not complaining, in fact I don't blame him. The fact is he still saved our club, I'm very greatful for that. Some people need to remember MM is a business man and he saved our club for business reasons.

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The majority of the 5 million will be the set up of the youth acdemy and the scouting network which seems to be all over europe this things do cost money plus MM payed for the loan players wages out of his own pocket

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I may have overestimated income but my figures are not as far out as you indicate. in 2011 -12 total turnover was £2. 4 billion for Premier league. I was aware of this figure and I know some clubs generate more income than others but when looked at individual clubs was surprised at differences. When in league we were in top half of table re income so 2 years ago the mid point was around £80 million. I would expect turnover at Owls if promoted would be around £100 million on current TV money etc. Hope this revised figure meets with your view.
Extremely good financial management at blackpool if in profit for 12 years and no doubt spell in Premier helped. {Ed001's Note - spell in Prem made no difference to Blackpool, though it did to the Oystons bank balance. Considering the top 5 clubs, in terms of revenue, in the Prem had a revenue of over £1.4billion alone, it doesn't leave much of that £2.4b for the other 15 really does it? Certainly tells you they must have averaged a lot less than £100m each. Then you have Spurs, who were 6th in revenue, earning nigh on £200m, suddenly there is not much there between the others. Your figures are just way out in space, there is a £30m increase this season, which will put the bottom end clubs up near £80m for the year, certainly not over. No offence, but Wednesday have been out of the top flight a long long time, the turnover at Wednesday is not suddenly going to shoot up to ridiculous levels, just because you return to the Prem.}

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Football accounts write off losses on players values. For example. Pay £750k for Antonio on a 4 year contract. His value at the end of year 4 is zero, so they gradually reduce the valuation to zero over the 4 years. This doesn't necessarily mean that the club is losing money.

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28 Jul 2013 12:29:59
we are signing Chris Hogg massive central defender released by Hibs would be a massive signing for the club

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He never passes the ball.

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Is that the same Chris Hogg who is a defender currently playing for Inverness Caledonian Thistle. strewth

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As anybody heard owt else about the takeover I personally hope it happens a change is needed

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Released by Hibs don't you mean released by Inverness, complete clap trap

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Get your fact right he has just left Inverness after making just 22 apearences in 2 years he left hibernian in 2011. WAWAW

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Cos he's a free doesn't mean we are signing him

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No we're not

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Massive he's only 6ft and he's at Inverness.

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Excessive use of Massive is code for that come here to wind us up.

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Whoever posted the following "Mandaric don't have that sort of money read An article on mandaric and his wealth. was mentioned of an estimated 966 million it stated now weather you have 200 million 900 million or 5 billion your still loaded so whoever says he ain't got that money is rubbish"
Get your facts right, in 2012 Milan stated in his court case that he was worth about $157m (£100m) and most of that is accounted for in his assets i. e. his business interests which include Sheffield Wednesday, it is undoubtedly a lot of money by most peoples standards but it is not disposable cash. Roman Abramovich in March 2013 had a fortune of £13. 1 billion and that is the point I was making. Whilst Milan is would be regarded as wealthy he is not in the same league as Roman Abramovich or the owners of Man City or PSG etc.

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He has a lot more than me, but I do get paid on Friday. ;-)

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