More problems for our friends down the road as massive Sunderland losses reported yet again.
Sunderland’s disastrous appointments of Roy Keane, Steve Bruce, Di Canio and Martin O’Neill have sent them spiralling into massive debts with relative fortunes wasted on countless signings.
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Obviously a much smaller club than Newcastle and without our scope & potential, the latest losses of £23m continue a trend that could see the club implode if relegation comes visiting due to their poor managerial appointments.
Sunderland’s turnover fell by £5m to £72m and their overdraft has trebled to £39m.
Their possible salvation, like so many clubs including Newcastle under Mike Ashley’s management, is TV money if they stay up.
Last season the mackems turned over £44m broadcasting revenue and this season that is expected to at least £63m. However, according to the Mirror, a drop into the Championship would mean a drop in TV income next season of nearly £40m with Sunderland receiving their first parachute payment of £26m instead of the Premier League riches.
Ellis Short has promised to keep on propping up the club but he felt obliged to have to mention the horrors of possible relegation;
“The directors consider the major risk of the business to be a significant period of absence from the Premier League. Ongoing investment in the playing squad aims to reduce this risk.”
A very interesting comparison of how to potentially ruin a Premier League football club in two very different ways.
Sunderland have massively overspent on many players who have become worthless because they had/have(?) a really poor process of identifying & buying players, with relegation an immediate potential consequence.
Whereas Newcastle are facing the same potential disaster in 12 months time due to a shocking lack of investment in the playing side, despite having somebody like Graham Carr with such a successful track record of getting value for money despite having to shop at a largely bargain level.