UK time is: 18:14:09
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

So thats where the money has gone....

After watching the club fall out of the Premiership and then failing to regain promotion, certain sections of the clubs fans had become increasingly frustrated at the lack of investment after seeing a number of players leave the club this summer. At the end of the home game with Sheffield United in August, many fans chanted 'where`s the money gone` in the direction of the director`s box, and the club has now released a statement telling us exactly that.

It would appear that there was a big overspend in the 2005/2006 season to ensure promotion and that took up a large chunk of the following season`s Premiership budget and players had contracts that doubled, or in some cases trebeled, their wages when they became Premiership players - in fact we spent nearly 60 million on wages in our 2 years in the top flight.

Last season we made 'a concerted attempt` to get back at the first time of asking and as such made a 6million loss despite the parachute payments relegated clubs received. We were also asked to pay 7million in bank loans due to the current economic climate which is where the money from the sale of the likes of Kevin Doyle and Stephen Hunt has gone.

You can read the full statement from the club on the official website HERE.




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



*Try Vital Mobile FOR FREE for the latest news, scores, fixtures and so much more*

Click here to join in the debate on the club forum.

The Journalist

Writer: Steve Guscott  Mail feedback, articles or suggestions

Date:Friday October 2 2009

Time: 12:37PM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Reading Articles

The Championship 2014/15 - Derby (Wednesday July 30 2014)

HRK injured in Stevenage friendly (Wednesday July 30 2014)

The Championship 2014/15 - Cardiff (Tuesday July 29 2014)

Player Ratings - Wycombe (A) (Sunday July 27 2014)

Royals impress in third friendly (Sunday July 27 2014)

Archived Reading Articles

List All Vital Reading Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

League Results (view all)

Latest Results

League Table (view table)

Team P W D L GD Pts
16. Middlesbrough 0 0 0 0 0 0
17. Millwall 0 0 0 0 0 0
18. Norwich 0 0 0 0 0 0
19. Reading 0 0 0 0 0 0
20. Rotherham 0 0 0 0 0 0
21. Sheff Wed 0 0 0 0 0 0
22. Watford 0 0 0 0 0 0

Breaking League News

Boro complete deal
Middlesbrough : 30/07/2014 17:11:00
Burton Albion 0 Derby County 1
Derby County : 30/07/2014 16:59:00
Trialists Impress & Veseli Will Leave Permanently
Ipswich : 30/07/2014 15:30:00
McCarthy Delighted With McGoldrick Return
Ipswich : 30/07/2014 15:24:00
Southend 1-2 Ipswich
Ipswich : 30/07/2014 15:20:00

Current Site Poll (view all polls)

What area do we need to strengthen most?
Suggested By:  Josh
Goalkeeper 9%
Defence 6%
Midfield 6%
Attack 79%