Losing money every month?
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Almost every big club looses money every month (a good reflection to real life sadly enough). I can usually get a club to make a decent profit after 2-3 years. The key is as mentioned above, look at what your players wages are and what new players want as wages. Also be careful with contract clauses like 10% wage rise every year. After 4-5 years those clauses can really hurt you financially. The first thing I do at a new club is look at player wages, there's usually a back-up or something on ridiculously high wages, so sell him. Also if you have a 30M transfer budget for instance, you dont HAVE to spend it all, try getting good prospects and spending only have of your budget, it'll do wonders for your finances.
You'd be doing amazingly well to be making profit every month. The main aim of controlling finances on the game is to minimize month to month losses. You make the most money at the end of the year with TV rights and prize money.
This is where the 'management' part of Football Manager comes in to play.
As things currently stand, you're ******. I assume you have a squad of superstar players with yearly wage increase clauses, high appearance fees, goal bonuses and so forth. While players like Stevie G may be irreplaceable, your players like Cole and Kuyt are not. And they're earning what, 80-100k? That amounts to 640-800k/month. If you're losing 7m/month, cutting two players like that loose will cut your losses by about 10%. Bring in young prospects - you know which ones are good, you know which ones can cover their positions. They'll probably ask for wages of up to 50k, lower appearance fees, lower goal bonuses etc. You'll really slash your running costs by bringing in the young kids.
You could also have more squad than you can support - so get rid of surplus players. I know it's great to have depth, but you don't need 6 DC's just because 'they're all good', or 'what if someone gets injured?'. I've had that problem - just exercise some discipline in the transfer window and use kids from the youth system to cover up for the guy who's covering for your regular DC. Usually won't last for more than a game or so and it gives the kids some first-team experience, which is always nice - especially if they're hot prospects.
Also, attract fans. A full Anfield will bring you in nearly 800k. The better your results, the greater the attendance. Also, better performances mean more TV revenue. If you build it (an awesome squad), they (people with money) will come. Continental competition also always brings in lots of money - expect merchandise, match day, TV and ticket revenue, as well as prize money, to fatten the account.
Most importantly, though, is to keep your squad bill under check. Take into account how much the club is earning NOW and adjust your squad's wages to meet that figure. No point in counting your chickens before they've hatched, or you could end up like Leeds Utd.
As things currently stand, you're ******. I assume you have a squad of superstar players with yearly wage increase clauses, high appearance fees, goal bonuses and so forth. While players like Stevie G may be irreplaceable, your players like Cole and Kuyt are not. And they're earning what, 80-100k? That amounts to 640-800k/month. If you're losing 7m/month, cutting two players like that loose will cut your losses by about 10%. Bring in young prospects - you know which ones are good, you know which ones can cover their positions. They'll probably ask for wages of up to 50k, lower appearance fees, lower goal bonuses etc. You'll really slash your running costs by bringing in the young kids.
You could also have more squad than you can support - so get rid of surplus players. I know it's great to have depth, but you don't need 6 DC's just because 'they're all good', or 'what if someone gets injured?'. I've had that problem - just exercise some discipline in the transfer window and use kids from the youth system to cover up for the guy who's covering for your regular DC. Usually won't last for more than a game or so and it gives the kids some first-team experience, which is always nice - especially if they're hot prospects.
Also, attract fans. A full Anfield will bring you in nearly 800k. The better your results, the greater the attendance. Also, better performances mean more TV revenue. If you build it (an awesome squad), they (people with money) will come. Continental competition also always brings in lots of money - expect merchandise, match day, TV and ticket revenue, as well as prize money, to fatten the account.
Most importantly, though, is to keep your squad bill under check. Take into account how much the club is earning NOW and adjust your squad's wages to meet that figure. No point in counting your chickens before they've hatched, or you could end up like Leeds Utd.
daleowright
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This is the best way to keep your club running at a profit. Into my 7th season with Southampton and have never paid anymore than 55K on a player in wages. Also check their future contract requests, never accept a contract asking for 'the highest paid player' clause, it can become a money drainer with future transfers and send your wage bill sky rocketing.
I am 2 games clear at the top of the Prem League using 7 of my starting 11 who came through my Youth Academy or who I scouted. Wage bill a month is only 775K a week, they all love the club and me so never make noises about leaving. Club nearly always run at a profit (apart from transfer windows) each month and now find my club top 50 richest in the world.
Yeah you miss out on having some big name players in your team, but after 7 years most of them are getting on anyways, I personally love finding a hot prospect early/cheap and watching him ignore bids from Barca, R. Madrid, Chelsea to stay at Southampton
Yeah you miss out on having some big name players in your team, but after 7 years most of them are getting on anyways, I personally love finding a hot prospect early/cheap and watching him ignore bids from Barca, R. Madrid, Chelsea to stay at Southampton
This ^
Once I got my Real Jaen team into the Champions League and had a team that was challenging to get into Europe every season I stopped buying players for my first team and concentrated on building my youth team (admittedly by poaching young talents from other clubs on the cheap). After two seasons of starting this my first-team players were starting to get on a bit but I had players from my youth team who were able to come in and support them (thus I didn't have to waste money signing back-up players). Now, four years after starting this plan I've got seven players from my youth team in my starting eleven, the highest paid of those players is on about £25k a week. Now those first-team players who were starting whilst I developed my youth team are approaching their thirties and are providing the cover or being sold to maximise my profits. And every new promotion of players from my youth team means more money for me because it means that somebody has to be sold. AND not one of my players has wages higher than £45k (Jack Wilshere is my highest paid player I think).
Plus my youth team went on a two-year winning streak and destroyed all of those that dared oppose them, which was kinda satisfying.
I accept, though, that this approach COULD have backfired on me if a lot of my prospects had not fulfilled their potential. It relies on having good youth facilities, enough spare cash to poach talent, excellent scouts to find the talent, great coaches to train them and probably good older players to mentor them too. I started doing this when I got into Europe, so around my fifth/sixth season. If you're Liverpool however you could probably start straight away.