Wolves reveal £4.9m losses for last season

[we love jez moxey]

http://www.expressandstar.com/2010/02/24/wolves-reveal-losses-of-4-9m/?
http://www.wolves.co.uk/page/News/0,,10307~1975542,00.html?

 

[leedswolf]

“However, we will not over-stretch the club financially in the pursuit of football success.
“We have a responsibility to ensure Wolves has long term sustainability as well as an opportunity for the team to win today.”

 

[we love jez moxey]

I don't understand how they lost so much. We just about broke even on transfers, and don't pay over the odds in wages.

 

[PREM.L.L]

Promotion a year ahead of schedule!

 

[FLEET WOLF]

Jez's pie bill.

 

[marrs-guitar]

I don't understand how they lost so much. We just about broke even on transfers, and don't pay over the odds in wages.

We already lost £4.1m the previous year, so add in promotion bonuses and it's pretty simple to see why, especially when turnover barely rose.

 

[BlahBlah]

Don't think that's bad at all.
It doesn't include player values as "assets", but the entire loss can be covered by transfer fees (£5.1mill if you exclude Iwelumo) for "young and hungry" players who we'd expect to at least break even on in the future if they develop...and hopefully earn a healthy profit from.
The difference from the bad old days is that these players have a resale value.

 

[Oyvay]

Just seen E&S placard saying "Wolves Molineux Club Make £5m loss". What do they mean by "Wolves Molineux Club"? Another one said "McCarthy says seven set for scrap". Does that mean he is getting rid of seven players? I was briefly tempted to waste money on buying a copy but, thankfully, the urge soon passed.

 

[dr cool]

Sadly If doyle goes in the summer that should cover it twice over ?


Drc

 

[BlahBlah]

Another one said "McCarthy says seven set for scrap". Does that mean he is getting rid of seven players? I was briefly tempted to waste money on buying a copy but, thankfully, the urge soon passed.

No, seven teams to scrap for survival.

 

[Daytripper]

Reading the parliament minutes and accounts statement it reminds me of how well run and open our club is compared to the cloak and danger stuff that goes on at other clubs. We all like to boo Jez and give him stick but he's done a good job since joining the fat $$$$$$$

 

[wolfyjoe]

Reading the parliament minutes and accounts statement it reminds me of how well run and open our club is compared to the cloak and danger stuff that goes on at other clubs. We all like to boo Jez and give him stick but he's done a good job since joining the fat $$$$$$$

+1

I'd be gutted if he left. I'd miss is awful slick hair do, pie eating and expert running of the club!

 

[northnorfolkwolf]

Just seen E&S placard saying "Wolves Molineux Club Make £5m loss". What do they mean by "Wolves Molineux Club"? Another one said "McCarthy says seven set for scrap". Does that mean he is getting rid of seven players? I was briefly tempted to waste money on buying a copy but, thankfully, the urge soon passed.

Hoff, Castillo, Halford, Hill,Ikeme, Bia, Iwelumo?????????

 

[MK Panther]

+1

I'd be gutted if he left. I'd miss is awful slick hair do, pie eating and expert running of the club!

As anyone actually seen hm eating any pies? The guy is as fit as a fiddle and I am sure he works out so where does the pie stuff come from?

 

[glasgowwolf]

As anyone actually seen hm eating any pies? The guy is as fit as a fiddle and I am sure he works out so where does the pie stuff come from?

I was working as a scout when he joined... the change was very dramatic very $$$$ing quick.......
Lights switched off when not needed.
Every mile Scouts charged was checked.

Every penny was accounted for, suddenly from being amateur it became very professional, IMHO Jez has done a superb job.
Thanks Jez and keep up the good work.

 

[Shifnal Wolf]

Hoff, Castillo, Halford, Hill,Ikeme, Bia, Iwelumo?????????

Castillo only on loan so hardly cost anything, Iwelumo was £400k and got us promoted last year so that was a good buy and we didn'ty pay ridiculous money. Ikeme was through the youth system, Bia and Hoff are still both untried at this level so we don't know whether they will come good or not yet

 

[Berlin Wolf]

I was working as a scout when he joined... the change was very dramatic very $$$$ing quick.......
Lights switched off when not needed.
Every mile Scouts charged was checked.

Every penny was accounted for, suddenly from being amateur it became very professional, IMHO Jez has done a superb job.
Thanks Jez and keep up the good work.

It was a sad day though when Mrs Molineux was asked to leave her admin job at the club shortly after Jez arrived. On away match days Mrs Molineux stewarded one of the Travel Club coaches around the country. From what I was told, it was the lower wage earners who suffered most when cuts were made. Drastic measures were needed at the time to save money, and Glasgow has pointed out some other methods used. In this case, a happy working life at the Wolves changed as a result.

Almost ten years have gone by. In fairness, Jez has done a good and steady job on Molineux's accounts to the point where the club are in a very healthy position today. Perhaps not a popular chap when he first arrived in June 2000 as Sir Jack's new recruit. It must have been a difficult time for all concerned.

Mrs Molineux, a big Wolves fan, then got a job at Aston Villa in the ticket office to keep herself in work. Maybe posters on MM can recall being served on her coach during Wolves away trips during the 90s.

To have a nickname like Mrs Molineux shows how fans thought of her.

 

[buddyrich]

as someone said to me yesterday, it looks like promotion bonuses paid out but not taking into account premiership prize money, which the bonuses would have been offset against.