Financial Woes

From the GET:

JOINT Grimsby Town manager Paul Hurst admits the club may have to let midfielder Tyrone Thompson leave the club next week.
"He's done well but the dilemma we have is that (Anthony) Churchy is coming back into the fold and he does a similar job.
"We have to look at things financially and see if we can fit Tyrone in or would the money be better spent elsewhere.
"We'll have to look at that.
"Any decision we make won't, unfortunately, purely be down to the football side of things.

So, are the financial cracks starting to appear in JF's (failed) business model?

So early in the season and money issues are being raised with regard to players wages. Especially worrying when you look at the relatively small size of the squad and the fact that we haven't got close to the the part of the seaon when injuries and suspensions start to kick in and loan players may be needed.

My guess is that after Tuesdays gate, JF is a very worried man. If it is around that level again today the club will be in real trouble. Average crowds of around 2,500 would represent a 50% reduction in gate receipts from the 2009/2010 season.

I've always thought that JF's financial resolve would crack at some point - Have we reached that point?

I don't think paying off all the players and managers over the years has helped either, to be fair.

And the crap football too.

Maybe so, but wasting another 900k on wages this year without showing ambition to go for it this year would surely not say to fans 'we are going for it this year lads.'   Its his hole he has digged to get us down here so he can get us back out.

Surely, when we all know what an important position midfield is, and with our shortage of ball winners in there, it is pretty desperate if we consider letting a non contract player leave before we see Church have a run of games and prove both his fitness and ability at league level. (note to grammar police; I know this sentence is too long but can't be bothered to change it!)
I appreciate we are in a bad way financially, but does keeping or letting Tyrone go really make that much difference?

Letting him go would be footballing suicide. Look at how poor the midfield was without Church. When he gets injured again or suspended we'll be back to the same powder puff pairing. Keep Tyrone, show a real commitment to getting out this league and don't penny pinch this time John.

Quoted from GtfcGarner

Maybe so, but wasting another 900k on wages this year without showing ambition to go for it this year would surely not say to fans 'we are going for it this year lads.'   Its his hole he has digged to get us down here so he can get us back out.

Yes. If he really wanted to get out of this league he would need to take a financial risk. I know it's easy for us to say as it's not our money, but attracting better players here would increase attendances significantly, particularly if the team are winning on a regular basis. We all know that the crowds would come back to watch a winning side regardless of the league we are in. Come on Fenty dig deep.

Quoted from carrot top

Yes. If he really wanted to get out of this league he would need to take a financial risk. I know it's easy for us to say as it's not our money, but attracting better players here would increase attendances significantly, particularly if the team are winning on a regular basis. We all know that the crowds would come back to watch a winning side regardless of the league we are in. Come on Fenty dig deep.

Hit the nail on the head there, gotta get something shooting

Letting Tyrone go is down to the managers as they want quality not quantity so their budget has been spent on less players so I wonder if this same dilemma will come up when weve a long term injury to cover for.Anyway TT only on non contract terms so whys he going

[quote=846]

Yes. If he really wanted to get out of this league he would need to take a financial risk. I know it's easy for us to say as it's not our money, but attracting better players here would increase attendances significantly, particularly if the team are winning on a regular basis. We all know that the crowds would come back to watch a winning side regardless of the league we are in. Come on Fenty dig deep.[/quote]

really some people

Quoted from Biccys

Letting him go would be footballing suicide. Look at how poor the midfield was without Church. When he gets injured again or suspended we'll be back to the same powder puff pairing. Keep Tyrone, show a real commitment to getting out this league and don't penny pinch this time John.

I go with that Biccys .
Ultimately its down to Fenty and the commitment and and passion he has for this club.

Quoted from flash1

[quote=846]

Yes. If he really wanted to get out of this league he would need to take a financial risk. I know it's easy for us to say as it's not our money, but attracting better players here would increase attendances significantly, particularly if the team are winning on a regular basis. We all know that the crowds would come back to watch a winning side regardless of the league we are in. Come on Fenty dig deep.[/quote]

really some people

Yeah see your point

To be fair to Fenty (through gritted teeth) he gave the Managers a budget and its up to them to
spend it wisely,  without a witchhunt  against him, i for one can not understand the signing of Elding when we have both Spencer and Duffy to do that role, the money spent on Elding could then have kept Thompson here. Sorry, but
IMO this is down to S & H .

Quoted from carrot top

Yes. If he really wanted to get out of this league he would need to take a financial risk. I know it's easy for us to say as it's not our money, but attracting better players here would increase attendances significantly, particularly if the team are winning on a regular basis. We all know that the crowds would come back to watch a winning side regardless of the league we are in. Come on Fenty dig deep.

Thats all well and good but what if the players don't perform?

It would be one hell of a risk IMO putting the whole club at stake for what? A promotion out of this league, only two Places up for grabs, to risky. Why can't we just do it the proper way? Keep a management team for longer than 1 year, build a squad over 3-4 seasons?

I do find this bizarre, where has the money gone...??? 900k...??? I can't believe that has been spent on the players we have and the ones we have released... I thought the managers said that we wasn't going to be paying big wages, is this right...??? If so again it adds to the feeling that the outlay surely hasn't been the 900k we have been told...

Having said all that, is this just the managers being very cautious over the budget and trying to keep the money they have left for other targets and not that the money has been spent...???

Quoted from Super Clive

Thats all well and good but what if the players don't perform?

It would be one hell of a risk IMO putting the whole club at stake for what? A promotion out of this league, only two Places up for grabs, to risky. Why can't we just do it the proper way? Keep a management team for longer than 1 year, build a squad over 3-4 seasons?

agree  

Church hasn't proved anything yet. He needs a good few games to show what he can do so maybe it is worth hanging on to Thompson for a bit longer if he hasn't already got another club to go to.

On the other hand Thompson has something to prove to earn a contract but how many times have we seen that before? Players come on trial, look good, get signed up and then don't produce the goods and we can see why their last club released them. Is Thompson one of these? He's had plenty of chances at plenty of clubs before us.

Quoted from Super Clive

Thats all well and good but what if the players don't perform?

It would be one hell of a risk IMO putting the whole club at stake for what? A promotion out of this league, only two Places up for grabs, to risky. Why can't we just do it the proper way? Keep a management team for longer than 1 year, build a squad over 3-4 seasons?

I see your point, however, I feel the club is at risk anyway, dwindling attendances etc. Fenty has already said that if we don't go up he is not sure what the financial picture will be next season, and that worries me.

Quoted from TheRonRaffertyFanClub

On the other hand Thompson has something to prove to earn a contract but how many times have we seen that before? Players come on trial, look good, get signed up and then don't produce the goods and we can see why their last club released them. Is Thompson one of these? He's had plenty of chances at plenty of clubs before us.

fair point.Its all about mental resolve some may have a bit of  ability but maybe not the mindset to produce the goods on a weekly basis   take Sweeney as a prime example

Typical.We've had countless managers financially backed by Fenty who squandered it on dross and journeymen.We then get managers who look like they know what they are doing at this level and the money runs out.

Like it or not,this is the reality and part of the re-adjustment to this level and the poorer crowds that go with it.There must be less opportunities on the other ways of making money too, i.e. sponsorship and the like.Next season will be worse if we don't get out as i believe the parachute payments stop.

The main reason i am still attending BP is knowing that without the support,we could go under.In fact i have bougt Upper tickets today,which puts a couple more quid in the coffers.Every bit helps i suppose but Town don't help themselves sometimes with crap facilities and catering,not to mention a bar that has run out of beer two matches running,i'm led to believe.

Of course,all of this would stop being a problem if only we could go on a long winning run.Can't see that happening yet but i live in hope as always.

Quoted from TheRonRaffertyFanClub

On the other hand Thompson has something to prove to earn a contract but how many times have we seen that before? Players come on trial, look good, get signed up and then don't produce the goods and we can see why their last club released them. Is Thompson one of these? He's had plenty of chances at plenty of clubs before us.

Could this be at least one factor where the management will earn their corn ? Buckley Mk3, Newell and Woods have been seen to have wasted their budget on certain players. The one thing you hear time and again is that S&H demand a high workrate, no room for slackers. If Thompson should sign I'd be very surprised if he then starts to let things slip. If that should happen under these two I genuinely give up

What absolute nonsense. S + H were given a set budget. They can do anything with this. Wages, player cancellations or player signings.

We didn't get Hearn for free. A fee was payed for him. The question is, do the managers want to spend on cancellations, transfer fees or wages. They have been given a mandate they were happy with at the start. They accepted it as a good budget and wasn't concerned.

They got Tyrone in on a temporary basis, but realised when they brought him in they probably couldn't afford it in the long-term. They obviously want the money spent elsewhere and don't want it spent on a backup player when Church returns as it is clear they see Church as better in that role than Tyrone. They're simply justifying why they're going to realise him rather than people complaining saying they've realised good players for no reasons. They are simply verbalising the decisions that football managers make on a regular basis. Whether this is unprofessional or refreshing is all a matter of interpretation. I'm pleased to hear this sort of information as it is real, but it should not deflect blame onto the owners who's mandate is to set budgets and pick managers. Both jobs which have been done. What S + H do with, or get out of this budget is the context of what any Grimsby manager would have to deal with and unless people have a spare millionaire/billionaire waiting in the wings to throw money at it, this is the context of the club at present, whether we like it or not.

Fenty was at least honest explicitly stating exactly how much the budget was. Rather than saying it was big or little, he stated it exactly and held himself up to accountability which no owners really do. It was suggested this was one of the biggest in the league, which can be checked via offical club account. An owner in that position is unlikely to say something to be quickly proven wrong. If you want to validate this claim go ahead, but he did not have to state a figure.

While I have faith in S&H, I'm afraid this reminds me of the scouser who brought in a swamp of forwards (all of whom cack,lazy, fat or injury prone) and didn't solve the midfield problem.

Quoted from LukeyJ

What absolute nonsense. S + H were given a set budget. They can do anything with this. Wages, player cancellations or player signings.

We didn't get Hearn for free. A fee was payed for him. The question is, do the managers want to spend on cancellations, transfer fees or wages. They have been given a mandate they were happy with at the start. They accepted it as a good budget and wasn't concerned.

They got Tyrone in on a temporary basis, but realised when they brought him in they probably couldn't afford it in the long-term. They obviously want the money spent elsewhere and don't want it spent on a backup player when Church returns as it is clear they see Church as better in that role than Tyrone. They're simply justifying why they're going to realise him rather than people complaining saying they've realised good players for no reasons. They are simply verbalising the decisions that football managers make on a regular basis. Whether this is unprofessional or refreshing is all a matter of interpretation. I'm pleased to hear this sort of information as it is real, but it should not deflect blame onto the owners who's mandate is to set budgets and pick managers. Both jobs which have been done. What S + H do with, or get out of this budget is the context of what any Grimsby manager would have to deal with and unless people have a spare millionaire/billionaire waiting in the wings to throw money at it, this is the context of the club at present, whether we like it or not.

Fenty was at least honest explicitly stating exactly how much the budget was. Rather than saying it was big or little, he stated it exactly and held himself up to accountability which no owners really do. It was suggested this was one of the biggest in the league, which can be checked via offical club account. An owner in that position is unlikely to say something to be quickly proven wrong. If you want to validate this claim go ahead, but he did not have to state a figure.

WHS

Quoted from LukeyJ

What absolute nonsense. S + H were given a set budget. They can do anything with this. Wages, player cancellations or player signings.

We didn't get Hearn for free. A fee was payed for him. The question is, do the managers want to spend on cancellations, transfer fees or wages. They have been given a mandate they were happy with at the start. They accepted it as a good budget and wasn't concerned.

They got Tyrone in on a temporary basis, but realised when they brought him in they probably couldn't afford it in the long-term. They obviously want the money spent elsewhere and don't want it spent on a backup player when Church returns as it is clear they see Church as better in that role than Tyrone. They're simply justifying why they're going to realise him rather than people complaining saying they've realised good players for no reasons. They are simply verbalising the decisions that football managers make on a regular basis. Whether this is unprofessional or refreshing is all a matter of interpretation. I'm pleased to hear this sort of information as it is real, but it should not deflect blame onto the owners who's mandate is to set budgets and pick managers. Both jobs which have been done. What S + H do with, or get out of this budget is the context of what any Grimsby manager would have to deal with and unless people have a spare millionaire/billionaire waiting in the wings to throw money at it, this is the context of the club at present, whether we like it or not.

Fenty was at least honest explicitly stating exactly how much the budget was. Rather than saying it was big or little, he stated it exactly and held himself up to accountability which no owners really do. It was suggested this was one of the biggest in the league, which can be checked via offical club account. An owner in that position is unlikely to say something to be quickly proven wrong. If you want to validate this claim go ahead, but he did not have to state a figure.

Good post mate

Budget agreed and accepted by S&H.

Down to them how thye spend it.

IMO for far too long Fenty has thrown (his) money at the managers who have virtually drunk it up the wall. If this club is to servive in a viable state then I'd advocate a smaller budget not a larger one.  We simply cannot continue to ask Fenty, or his eventual successors, to keep bailing out the club.

Run the club properly and we may have a chance of moving forward

Quoted Text

Run the club properly and we may have a chance of moving forward

But there in lies the problem - it isn't being run properly. It hasn't been run properly for years. It is being starved of investment, things are falling apart and the customers are walking away.
My guess is that JF is going to cut costs again and reduce the money S&H thought they had - I think it is more than a coincidence that this has happened following the drastic collapse in attendances between the first home game and Tyesday night.
A poor crown today will, I think, increase the fincanial pressure on JF even more. Again, my guess is that at 2500 for a home game won't pay the day to day bills even at this early stage in the season. Meaning someone has to make up the shortfall.
Perhaps this is what MP is waiting for!

Quoted from BIGChris

Budget agreed and accepted by S&H.

Down to them how thye spend it.

IMO for far too long Fenty has thrown (his) money at the managers who have virtually drunk it up the wall. If this club is to servive in a viable state then I'd advocate a smaller budget not a larger one.  We simply cannot continue to ask Fenty, or his eventual successors, to keep bailing out the club.

Run the club properly and we may have a chance of moving forward

WHS!  

Quoted from sonik

WHS!  

Run the club properly, Your brother hasn't run the club properly since he became chairman, One man and one man only has brought GTFC to where we are today JOHN FENTY, When he goes then the club can look to be ran 'properly' The Guy guy is clueless idiot.

Quoted from Super Clive

Run the club properly, Your brother hasn't run the club properly since he became chairman, One man and one man only has brought GTFC to where we are today JOHN FENTY, When he goes then the club can look to be ran 'properly' The Guy guy is clueless idiot.

I'll pass on your kind thoughts.

Quoted from sonik

I'll pass on your kind thoughts.

No need, he doesn't get the message, He just gives his politician Bullsh1t Spin time after time.

Enoughs enough, his reign is coming to an end, Sooner rather than later.

Quoted from Super Clive

Run the club properly, Your brother hasn't run the club properly since he became chairman, One man and one man only has brought GTFC to where we are today JOHN FENTY, When he goes then the club can look to be ran 'properly' The Guy guy is clueless idiot.

Why have a go at Sonik-guilt by association?

No wonder he hardly ever posts on here.

Quoted from thebigeasy

But there in lies the problem - it isn't being run properly. It hasn't been run properly for years. It is being starved of investment, things are falling apart and the customers are walking away.
My guess is that JF is going to cut costs again and reduce the money S&H thought they had - I think it is more than a coincidence that this has happened following the drastic collapse in attendances between the first home game and Tyesday night.
A poor crown today will, I think, increase the fincanial pressure on JF even more. Again, my guess is that at 2500 for a home game won't pay the day to day bills even at this early stage in the season. Meaning someone has to make up the shortfall.
Perhaps this is what MP is waiting for!

The club is losing nearly 1 million a year, funded mostly as far as I can see by one or two individuals, and still people go on about a lack of investment.  I really do think people have lost the plot.  
For my money Big Chris is spot on - smaller budgets, cost cutting measures and effective, responsible management!

Quoted Text

The club is losing nearly 1 million a year, funded mostly as far as I can see by one or two individuals, and still people go on about a lack of investment.  I really do think people have lost the plot.  
For my money Big Chris is spot on - smaller budgets, cost cutting measures and effective, responsible management!

It is losing money because of the way it's run - smaller budgets, cost cutting blah blah blah which will not stop the rot it will make it worse until the bitter end comes.
There is a big difference between investement and what JF has done.
It is symptomatic of how so many businesses are/have been run in the UK and why they collapse in the face of foreign competition.
I'm sorry but comments like this are naive in the extreme.

Quoted from thebigeasy

It is losing money because of the way it's run - smaller budgets, cost cutting blah blah blah which will not stop the rot it will make it worse until the bitter end comes.
There is a big difference between investement and what JF has done.
It is symptomatic of how so many businesses are/have been run in the UK and why they collapse in the face of foreign competition.
I'm sorry but comments like this are naive in the extreme.

My apologies.

Do I take it you are advocating a bigger playing budget?

Quoted from ginnywings

Why have a go at Sonik-guilt by association?

No wonder he hardly ever posts on here.

Read this site every day.  Sadly I and a few others get slated SO much that it can turn nasty IMO for saying it as we see it.  Gy til I die!  UTM!!

Bigeasy,if you and the other stay aways who sit behind a computer,spreading doom and gloom got off yer arses and went down to BP,perhaps the future would look a bit brighter.

Some people know the cost of everything and the value of nothing.

Bleating about not subscribing to Sky won't help Town will it? I could think of better things to be doing than going to BP on a wet Sat afternoon,but i'll be there all the same.You never know,i might even enjoy it.

Quoted Text

Do I take it you are advocating a bigger playing budget?

It's not as simple as that - what I am saying is that continual cost cutting leads to a continual reduction in the size of the business and its effectiveness. Sure, cut out waste, but if you run a business properly their should be no waste. Once you have removed the waste, each time you cut costs you reduce people, reduce quality and as I said reduce the businesses effectiveness.
Spending money in a business, and investing in the business are 2 completely different animals.
During his reign JF has missed 2 opportunities where there has been a hint of success to come. Both times he turned his back on that opportunity because of the perceived cost at the time. In the end the failure to grasp the opportunity  has meant the decline continues which is costing him far more than if he had made the necessary investment.
Basically if the club is to stop the decline it has to stop the rot. And that means investment.

Quoted Text

Bigeasy,if you and the other stay aways who sit behind a computer,spreading doom and gloom got off yer arses and went down to BP,perhaps the future would look a bit brighter.
Some people know the cost of everything and the value of nothing.
Bleating about not subscribing to Sky won't help Town will it? I could think of better things to be doing than going to BP on a wet Sat afternoon,but i'll be there all the same.You never know,i might even enjoy it.

Don't patronise me - I know what I'm talking about and I know what success and failure is all about. And why so many ordinary people sufffer through losing their jobs because of the idiots running so many of the UK's businesses.

I don't "bleat" - I made a point about Sky which most rational intelligent people will understand - the problem is Sky is a private tax on the unfortunate lower income groups who little else they can afford to do.

I have admitted I don't go to BP, and I wont go again until things change at the club - and that starts with a wholesale change in approach from JF or he walks away. After over 40 years the last 10 years of destruction of the club have left me numb. Add that to the current general state of football at all levels and you get the reason why I have abondoned football for Rugby. If someone had told me many years ago that this would happen to me I would never have believed them.

Quoted from thebigeasy

It's not as simple as that - what I am saying is that continual cost cutting leads to a continual reduction in the size of the business and its effectiveness. Sure, cut out waste, but if you run a business properly their should be no waste. Once you have removed the waste, each time you cut costs you reduce people, reduce quality and as I said reduce the businesses effectiveness.
Spending money in a business, and investing in the business are 2 completely different animals.
During his reign JF has missed 2 opportunities where there has been a hint of success to come. Both times he turned his back on that opportunity because of the perceived cost at the time. In the end the failure to grasp the opportunity  has meant the decline continues which is costing him far more than if he had made the necessary investment.
Basically if the club is to stop the decline it has to stop the rot. And that means investment.

So when calling me naive we are infact disagreeing over the current effectiveness of GTFC as a business.

I agree with you that the club has to stop the rot before it can move forward and I think that is what the majority of sensible posters on here are referring to.  Stopping the rot requires, IMHO and under the prevailing financial conditions both globally and within the football world in particular, getting a grip of GTFC as a business which includes the managers sticking to a pre determined budget.  To focus on historical decisions doesn't help the club moving forward.  

Quoted from ginnywings

Why have a go at Sonik-guilt by association?

No wonder he hardly ever posts on here.

Having ago at sonik, hardly John yes His bro no.

And is it my fault he doesn't post on here often, feel free sonik to give me your password, I could turn you in to a regular poster.

Of to the game now, John best pick a winning team.  

Quoted from thebigeasy

Don't patronise me - I know what I'm talking about and I know what success and failure is all about. And why so many ordinary people sufffer through losing their jobs because of the idiots running so many of the UK's businesses.

I don't "bleat" - I made a point about Sky which most rational intelligent people will understand - the problem is Sky is a private tax on the unfortunate lower income groups who little else they can afford to do.

I have admitted I don't go to BP, and I wont go again until things change at the club - and that starts with a wholesale change in approach from JF or he walks away. After over 40 years the last 10 years of destruction of the club have left me numb. Add that to the current general state of football at all levels and you get the reason why I have abondoned football for Rugby. If someone had told me many years ago that this would happen to me I would never have believed them.

Wasn't aware that i was patronising anyone.

I am merely pointing out that clubs are dying in the bottom leagues,not just Town,because people are staying away and mostly going for the glory and quick gratification that the Prem supplies.

I would imagine that the Rugby team you go and watch are relatively successful,so you could be lumped in with the "fans" that are giving up lower league football for the glamour of the Prem.You say people should avoid Sky to strangle it but you are no better IMO by choosing to go to the Rugby instead of BP.

You only ever come on here to state the bleeding obvious and give us the benefit of your undoubted business acumen.We know the club is struggling and we all want an upturn in fortunes,but staying away as you and others do is not going to help one bit is it?

Guessing we have seen the last of the Connell money for a while then? Granted it was paid in installments but seems a bit excrement that with all the money we have coming in for him, we cant afford to pay a guys wages who will be on a relatively small wage. Concerning. That or it is just an excuse to let go of him, wish the Elding money had been held up til about now to realise what kind of striker was needed and get one in on deadline day, instead we friggin panicked and ended up with what appears to be a poor player (though I still do not advocate the disgraceful booing of him and feel we need to give him 10 games to be certain of what we all fear.) Despite us thinking the club is being run slightly better now, we are still making shoddy business errors and lots of these errors seem to culminate throughout the season into a friggin disaster every year, resulting in half the squad getting paid off season after season.

Well Churchy just said on the radio he hasn't been injured in the last three seasons, so hopefully it won't make a difference TT going as Church should play 30+ games this year (providing he's selected). I mean why make the assumption that we will need TT just in case Church is injured - think of Paul Groves I think he went something like five or six years without an injury and there are plenty of others with records like that too.

Quoted from Swansea_Mariner

Well Churchy just said on the radio he hasn't been injured in the last three seasons, so hopefully it won't make a difference TT going as Church should play 30+ games this year (providing he's selected). I mean why make the assumption that we will need TT just in case Church is injured - think of Paul Groves I think he went something like five or six years without an injury and there are plenty of others with records like that too.

Fair point but I'd rather look at it as bringing in a midfield battler to challenge Church for a place rather than a standby replacement. Whether TT is up to that we don't know yet.

Going back to the point about Tyrone Thompson; the managers had a set budget of £900k, which is arguably one of the biggest budgets in the league. I mean for christ sake, I'm not JF's biggest fan but ultimately it's down to the managers to spend the budget and if they'd rather sign players like Elding then ultimately it's their fault that we've got this problem surely?

Quoted from davmariner

Going back to the point about Tyrone Thompson; the managers had a set budget of £900k, which is arguably one of the biggest budgets in the league. I mean for christ sake, I'm not JF's biggest fan but ultimately it's down to the managers to spend the budget and if they'd rather sign players like Elding then ultimately it's their fault that we've got this problem surely?

I have to agree. I really thought these guys were gonna sort us out, I think I was wrong. Fenty has gave them a big budget so it's up to them to deliver. Replacing Connell with Elding just makes me want to bang my head against a brick wall

It seems fairly simple to me - we kept Duffy and signed an identikit player in Elding who no longer gets picked.

We can't afford them both and we can't afford not to have strength in depth in midfield.

Church is stepping up a division to his first full-time contract  so is a gamble. Thanoj is young, so a gamble too. Disley is a good signing. Artus has ability but so far gives away the ball too often so the jury is out. That means the managers have realised they need the likes of Thompson to add bite and experience in the middle.

It is the managers who have blown the budget Fenty gave them by keeping/signing too many strikers and one too few central midfield players. Am I right?

P.S. We also need some bloody pace!

were has this 900k been spent? 900k divided by 20 players is £937.50 each a week. half of the squad cant be on anywhere near that?.

Paying off sacked managers and players.

Quoted from AdamHaddock

While I have faith in S&H, I'm afraid this reminds me of the scouser who brought in a swamp of forwards (all of whom cack,lazy, fat or injury prone) and didn't solve the midfield problem.

Why?

Quoted from thebigeasy

It's not as simple as that - what I am saying is that continual cost cutting leads to a continual reduction in the size of the business and its effectiveness. Sure, cut out waste, but if you run a business properly their should be no waste. Once you have removed the waste, each time you cut costs you reduce people, reduce quality and as I said reduce the businesses effectiveness.
Spending money in a business, and investing in the business are 2 completely different animals.
During his reign JF has missed 2 opportunities where there has been a hint of success to come. Both times he turned his back on that opportunity because of the perceived cost at the time. In the end the failure to grasp the opportunity  has meant the decline continues which is costing him far more than if he had made the necessary investment.
Basically if the club is to stop the decline it has to stop the rot. And that means investment.

Spot on BE.

The subsidies Fenty has made are bailouts. Fire fighting. The rot started years ago when delaying on proper contracts for players or not paying managers what they are worth on the basis that we might go down. It's probably cost Fenty as much this way than if he'd spent wisely in the first place.