Wfc Finances

Very wide range of revenue implications there - don't make sense

 

On paper it does seem sensible to try to get us a bit more leverage, but if we don't go up, then what?

 

This reeks of Leventhal just doing a bit of filling for his article and not stopping to think whether it makes sense or not.

 

One or two of those options are needed if we are to survive.
They are just the possible options, IMO.

 

Udinese potentially bringing in €50m+ just for Molina and Udogie this summer. Have they paid us for Pussetto yet or will he be on loan until he retires?

 

They’ll be selling Deulofeu too for €20m+. I reckon they keep Udogie though.

 

A press release just came out saying Udogie is staying

 

Glad to see they're keeping him for us when we get promoted again.

 

Rather have Tom Lawrence

 

https://theathletic.com/3298107/202...legation-finances/?source=user_shared_article


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Not read it all, sorry if already somewhere else but thought it may interest some


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Not got access to the Athletic would someone be kind enough to summarise?

 

Seb Prodl announced his retirement from football today after playing no games for Udinese in the last two seasons. In the final two seasons with us, he played a total of 70 minutes in the league. His last season where he made more than one league appearance was 2017-18.

The most bonkers thing about the Pozzos is undoubtedly their determination to lock ageing players into long term contracts. They've just paid Prodl for four seasons and he's made 70 minutes of league appearances in total. Just totally nuts.

 

Doing. Business. Properly.

 

This scenario plays out again and again. And I can’t think of a single situation where they sold an oldie for a fee after an extension which offset the extra wages paid. Frankly, these people are idiots. It’s no wonder we have been destroyed financially.

 

I just can't fathom it. They must know the likes of Cathcart and Cleverley have no resale value past 30/31. Yet they feel the urge to tie them down into their mid 30s on senior pro wages that are obviously going to be more than a younger, up and coming player.

The Prodl one is really weird. His contract with us was up at the end of 2021 but a year before then they moved him to Udinese on a two year contract despite him obviously being a crock by that stage. I presume that they offered him a lower salary but over an extra year and it helped us from a cash flow/Financial Fair Play perspective and Udinese just absorbed the cost of having a glorified training cone for two seasons.

To reiterate, I don't blame any of these players, who wouldn't take the offer if the club is stupid enough to make it?

 

How it started:

How it's going:

 

Where’s that forum member who was calling anyone ‘insane’ for not being ‘all over’ crypto gone?

 

Mauritius.

 

Nah, that wasn’t his name.

 

Did anyone buy an Evolution HD tv?

 

hahaha - no, I think that was the problem !!

 

Was bored yesterday so was having a rummage around our accounts to see what you can learn about our relationship with Udinese.

Most interesting part is the Related Party Transactions section. If I've read the notes correctly and cross referenced with the right transfers (disclaimer: possible I haven't!) then:

- when we were promoted we paid Udinese over £3m as a promotion payment and also £2m in "sponsorship".
- we paid hundreds of thousands of pounds to Raffaele Riva and Lorenzo Gallucci's companies for "consultancy fees" whilst they were directors of our parent company
- looks like they paid us about £450k for Okaka and/or Zeegelaar
- Troost-Ekong, Sierralta and Perica were all free transfers
- they paid us £26m for Pereyra and Deulofeu

 

Didn't we spend 6-10 million on Okaka depending on source? Top work.

 

If I remember rightly though this was essentially repaying them for 3 years of players then sent us for nowt pre-promotion.

 

Austrian Phil Jones.

 

Yes, agreed. Wasn't saying it in a negative way just found it interesting how it was described.

 

I think there’s a lot to unpack there - a lot of dodgy stuff certainly, particularly the consultancy fees - but don’t think that it points to the hierarchical/parasitic relationship where Udinese are prioritised as some claim. Pereyra (old and underperforming) and Deulofeu (with a significant ACL injury keeping him out for a long time) for £26m is a pretty decent amount if you ask me, particularly in the depressed market of 2020.

 

The other thing I found out was the the ultimate parent company is Diversify Sport Investment registered in Luxembourg with Gino as the sole owner.

Guessing these accounts would tell a lot about how much money Gino is making from the whole shebang but wasn't going to pay the £50 Luxembourg's Companies House charges for the honour of downloading it!

https://www.datocapital.lu/companies/Diversify-Sport-Investment-Sarl.html

 

Yeah it's a mixed bag and it wasn't meant to be a critical post. They paid more than I thought they had for those two and I'd assumed that we'd paid them something for the three that arrived after relegation so was pleasantly surprised they came on frees. But then... we might have paid them on promotion again!

Raffaele Riva's involvement is something someone like Leventhal should dig into - indefinite ban from English football but the two directors (other than Duxbury) of our immediate payment company seem to be heavily involved in his asset management company.

 

Thanks - I thought it was a great post! Definitely raises a lot of questions but much more of a mixed bag than many of us would have considered.

 

One hour fifteen minutes into this podcast and Bradley Orr claims he acted as an agent for us and we flat out refused to pay him but he subsequently won a court case.

Any sleuths on here work out which transfer he's talking about?

https://twitter.com/UndrTheCosh/status/1533872324822409216?s=20&t=mpjnHXPdxEB4CnA_slLIYw

Only one side of the story so who knows the truth? He did have another court case recently as well as he believed that Magna Carta meant that he could disregard COVID restrictions so perhaps he's not the most reliable source!

https://www.bbc.co.uk/news/uk-england-merseyside-57322352