Clubs furloughing staff

[Gaylord du Bois]

How? They are haemorrhaging money right now.

By cutting their cloth accordingly. Just like every household in the country.

 

[Mazzarelli's Swiss Cheese]

I've never been into the 'loads a money' thing since the take over, but I must say it's nice to know our owners have deep enough pockets to sit this out. It might make an amusing thread trying to imagine what strategy Peter Swales would've put in place if confronted by these circumstances.

 

[Colin Bells Boots]

No problem, Mr Joe Public.

I think LFC have the official " victims " award, Spurs will just have to get in line.

 

[Stoned Rose]

I've never been into the 'loads a money' thing since the take over, but I must say it's nice to know our owners have deep enough pockets to sit this out. It might make an amusing thread trying to imagine what strategy Peter Swales would've put in place if confronted by these circumstances.

Might have gotten to the point where he was forced to sell his comb over.

 

[Gaylord du Bois]

I've never been into the 'loads a money' thing since the take over, but I must say it's nice to know our owners have deep enough pockets to sit this out. It might make an amusing thread trying to imagine what strategy Peter Swales would've put in place if confronted by these circumstances.

It's weird how clubs have overstretched themselves by doing things 'the right way'.
I thought the Idea was to save us from another Portsmouth and Leeds United situation.

 

[dickie davies]

How? They are haemorrhaging money right now.

It's estimated that the non playing staff wages at LFC equates to £10m PA
So three months (25%) of that is £2.5m
LFC's t/o is around £600m
2.5m = less than half a percent

 

[Blue Mist]

How? They are haemorrhaging money right now.

How are they haemorging (sp) money ? A club makes most of its gate money at the start of the season in season ticket sales. it is paid in advance for sponsorship and they have the TV money. They will have planned for June-Mid August where they still have to pay players and staff with no money coming in.
I take your point about a year and if Spurs or Liverpool asked the government for money in say August I would have more sympathy but to send in the application form 5 minutes after the Chancellor announced the scheme is just wrong.

 

[chedinho]

We are only at the very beginning of this economic apocalypse. Personally, I very much doubt that fans will be allowed back in stadiums for at least a year. So regardless that clubs might hold limited reserves of cash, they have to plan for the worst case, long term scenario. And that requires taking immediate action.

Drown all the puppies. The club must make a profit.

 

[Colin Bells Boots]

How are they haemorging (sp) money ? A club makes most of its gate money at the start of the season in season ticket sales. it is paid in advance for sponsorship and they have the TV money. They will have planned for June-Mid August where they still have to pay players and staff with no money coming in.
I take your point about a year and if Spurs or Liverpool asked the government for money in say August I would have more sympathy but to send in the application form 5 minutes after the Chancellor announced the scheme is just wrong.

And opportunist and disgusting.

 

[deano ou812]

More serious matters to worry about than this,but this furloughing of staff along with the possible null and void of the season would give a lot of neutrals a huge laugh,in the face of what is turning out to be a huge world pandemic...