parachute payment

[chili_con_carne]

what is this parachute payment that rob kelly keeps going on about?link near the bottom

He says ' Our parachute payment may have gone but i see next season as a challenge and it doesn't frighten me'

[Babylon]

what is this parachute payment that rob kelly keeps going on about?link near the bottom

He says ' Our parachute payment may have gone but i see next season as a challenge and it doesn't frighten me'

It's about 7 million of our budget to put it bluntly.

[hairy]

Its the payment that clubs receive when they get relegated from the Premiership. It helps cover the loss of income from sky etc.

[Benji]

basically when u get relegated from premiership you get around 7mill for 3 years is it? as a means of making relegation less of a shock to clubs and trying to prevent administration to relegated clubs. However we've just finished our entitlement and so we don't get the 7mill which would have helped a little for our transfer budget

don't see why it should be a surprise to our budget though, the board knew it was coming

[chili_con_carne]

I thought he was going on about the connolly money.

If i was kelly i would sell stearman (2-3 million in the bag) and then try bringing in a right back on loan.

Then he would have a bit to spend on a few defenders, a few midfielders, and a striker (geoff horsfield would be decent) on loan just incase.

[Unit]

speaking of connelly money don't we get something like another half a mill since wigan are staying up?

[Libertine]

speaking of connelly money don't we get something like another half a mill since wigan are staying up?

'Tis another million. It won't go towards RK's transfer budget though as it is has been used in advance for paying Levein off, Fryatt, attendance shortfall etc.

[Stevosevic]

speaking of connelly money don't we get something like another half a mill since wigan are staying up?

for the last time yes, but it wont be spent on transfers because of lower than expected gate receipts.

[Unit]

for the last time yes, but it wont be spent on transfers because of lower than expected gate receipts.

chill out. ta.

[dandannieldanok]

Did anyone see Connolly last night against Fulham, first time in 2006 he gets on the pitch and he misses an open goal! That £3m gratefully recieved.

[davieG]

I'm sorry but this parachute payment excuse is, to put it bluntly inexcusable and is either some underhand makerting scheme to make fans feel guilty and to spend more or a sign of mis-management.

The LCFC board have been aware of this and should have had contingency plans in place, such as not spending all of it and spreading it out over a longer period.

Besides, Reading, Sheff U, Watford, Preston, Cardiff haven't had this luxury and have lower gates and less money making channels than LCFC and seem to have thrived.

The wages bill has been cut dramatically and there should now, with the out of contract players like Tiatto, Morris on their way, possible with the exception of Williams leave no justifiable reason why the wage bill should be higher than any other Championship side. I would also imagine that we are paying RK and his team a lot less than we've paid previous managment teams, if not why not?

I understand the millstone of the stadium but as Iundestand it we pay less if we're not in the Premier, granted it means we're not paying it off but should not be any bigger burden than other clubs renting or buying their ground.

Yes it's a big change but it should be manageable by any competent board of Directors.

The board needs to ensure that the money we are paying TD, Bucci and AT provides a corresponding increase in income plus some otherwise why are they being paid. Also if the club has less income, and hence is operating at a lower level then surely this should be reflect not only in the players wages but also in TD & Bucci's remuneration. Has TD for instance had his wages slash since we fell out of the Premier League? I suspect not. 'd be interested to know how much we're paying AT for 52 days work a year bearing in mind all the perks he's likely to get.

This sort of end of season / pre season poverty bull-shit is nothing new.

My advice to TD, Bucci and AT is to stop winging and get on with earning you high salaries.

I for one am underwelmed by the progress we are not making.

Have a nice day, oh and I'm getting ready to order my 2 season tickets for 2006/7 in the Kop.

[Ric Flair]

I'm sorry but this parachute payment excuse is, to put it bluntly inexcusable and is either some underhand makerting scheme to make fans feel guilty and to spend more or a sign of mis-management.

The LCFC board have been aware of this and should have had contingency plans in place, such as not spending all of it and spreading it out over a longer period.

Besides, Reading, Sheff U, Watford, Preston, Cardiff haven't had this luxury and have lower gates and less money making channels than LCFC and seem to have thrived.

The wages bill has been cut dramatically and there should now, with the out of contract players like Tiatto, Morris on their way, possible with the exception of Williams leave no justifiable reason why the wage bill should be higher than any other Championship side. I would also imagine that we are paying RK and his team a lot less than we've paid previous managment teams, if not why not?

I understand the millstone of the stadium but as Iundestand it we pay less if we're not in the Premier, granted it means we're not paying it off but should not be any bigger burden than other clubs renting or buying their ground.

Yes it's a big change but it should be manageable by any competent board of Directors.

The board needs to ensure that the money we are paying TD, Bucci and AT provides a corresponding increase in income plus some otherwise why are they being paid. Also if the club has less income, and hence is operating at a lower level then surely this should be reflect not only in the players wages but also in TD & Bucci's remuneration. Has TD for instance had his wages slash since we fell out of the Premier League? I suspect not. 'd be interested to know how much we're paying AT for 52 days work a year bearing in mind all the perks he's likely to get.

This sort of end of season / pre season poverty bull-shit is nothing new.

My advice to TD, Bucci and AT is to stop winging and get on with earning you high salaries.

I for one am underwelmed by the progress we are not making.

Have a nice day, oh and I'm getting ready to order my 2 season tickets for 2006/7 in the Kop.

Well said, i'm getting sick and tired of hearing about this parachute payment bollocks. Although to be fair it's mainly the media who keep bringing it up when writing articles about us. The money isn't as clear cut as it sounds anyway, Levein went on record to say he'd cut the wage bill in accordance to being in this division for another year or so. We are still better off than alot of clubs in this league.

[wirralsimon]

Besides, Reading, Sheff U, Watford, Preston, Cardiff haven't had this luxury and have lower gates and less money making channels than LCFC and seem to have thrived.

You must have a different definition of 'thrived' to me.

Cardiff and Watford in particular have had massive financial issues over the past few years, Sheffield United were skint for a long time and Reading have a moneybags chairman who has invested tens of millions with no chance of getting it back.

Whichever way you look at it our income is down by 6 million next season, and this is bound to limit the clubs options.

It's also worth pointing put that no club ever got a good deal when buying in the transfer market by saying how well off they were.

Simon

[davieG]

You must have a different definition of 'thrived' to me.

Cardiff and Watford in particular have had massive financial issues over the past few years, Sheffield United were skint for a long time and Reading have a moneybags chairman who has invested tens of millions with no chance of getting it back.

Whichever way you look at it our income is down by 6 million next season, and this is bound to limit the clubs options.

It's also worth pointing put that no club ever got a good deal when buying in the transfer market by saying how well off they were.

Simon

Thrived, as are either promoted or in the play-offs this season without any parachute payment either this season or recently.

Our income may be down but is now on a par with the majority of clubs in this division, or at least should be if managed properly.

[Babylon]

Well said, i'm getting sick and tired of hearing about this parachute payment bollocks. Although to be fair it's mainly the media who keep bringing it up when writing articles about us. The money isn't as clear cut as it sounds anyway, Levein went on record to say he'd cut the wage bill in accordance to being in this division for another year or so. We are still better off than alot of clubs in this league.

Levein had to do that as Adams was allowed to spend more than one seasons worth of parachute payments the first season we were down. Basicly we gambled on getting straight back up... and we buggered it up.

[Babylon]

We are still better off than alot of clubs in this league.

True, but it's probably on par with mid table teams. People always expect us to be more than that though.

[Ric Flair]

True, but it's probably on par with mid table teams. People always expect us to be more than that though.

That's why i've said it's all about the manager next season. We'll be a much of a muchness but if Kelly is the motivator he's led us to believe then he could be the difference between us finishing mid table or sneak in to the play-offs. We have some talent in the key areas, like many teams do but it's about having that mental strength to grind results out in this division. Luckily, I believe Kelly has a knack of getting the players to do this when needed.

[Babylon]

That's why i've said it's all about the manager next season. We'll be a much of a muchness but if Kelly is the motivator he's led us to believe then he could be the difference between us finishing mid table or sneak in to the play-offs. We have some talent in the key areas, like many teams do but it's about having that mental strength to grind results out in this division. Luckily, I believe Kelly has a knack of getting the players to do this when needed.

[Bert]

I thought he was going on about the connolly money.

If i was kelly i would sell stearman (2-3 million in the bag) and then try bringing in a right back on loan.

Then he would have a bit to spend on a few defenders, a few midfielders, and a striker (geoff horsfield would be decent) on loan just incase.

I'm glad you're not Rob Kelly!!

[Guest]

I'm sorry but this parachute payment excuse is, to put it bluntly inexcusable and is either some underhand makerting scheme to make fans feel guilty and to spend more or a sign of mis-management.

The LCFC board have been aware of this and should have had contingency plans in place, such as not spending all of it and spreading it out over a longer period.

Like a lot of people, I think they've been 'living to their means', and as pointed out by Babs, they tried gambling what they had on a quick return.

Whilst I have my concerns over the club's finances still, I think 20:20 hindsight isn't exactly helping. All ifs and buts again.

[Ric Flair]

Having said that, Levein has got rid of all the players Adams signed other than Williams and Gudjonsson who is now leaving anyway. So although we might have wasted abit of money, we are in alot better shape than we would have been had Micky stayed and not gone up.

Levein slashed the wage bill with the idea that we wouldn't be ****ed if we still didn't get promotion, he also managed to sign a number of players who we are glad of, leaving us with a small task of getting rid of a few more and bringing in a few more. Surely not that bad is it? The massive re-building job has gone on for the past few seasons, yes it would be nice to have some money but if we had some now it would have meant we didn't spend any last summer and we'd then still be in the same position of needing x amount of players.

I'm not that worried about this parachute payment bollocks, but that might change.

[davieG]

Like a lot of people, I think they've been 'living to their means', and as pointed out by Babs, they tried gambling what they had on a quick return.

Whilst I have my concerns over the club's finances still, I think 20:20 hindsight isn't exactly helping. All ifs and buts again.

Those two statements are contradictory, either they have lived to their means or they gambled you can't have it both ways.

If they gambled, which seems to be the case and failed, which is also the case, then they (TD) have failed in their jobs and should resign. TD received a massive bonus when Adams got us promoted the first time so therefore should take full responsinbility for the gamble and subsequent failure the second time.

The problem with the leaders of businesses these days they take the massive rewards for success ( and sometimes failure ) but not the consequences of failure.

PS I have no personal axe to grind against TD, in fact I quite like the guy.