Problem with Crawley

[Pottsy]

Just finished my first season with Crawley, go them promoted, but looking at the finances, I've managed to get them into £1.2 Million debt in one year, making a significant loss each month. My wages are the thing that's costing me so much, I am within the budget though? I've tried to offload a lot of players (no one wants them, not one), and I've just released lots of them.

This is my first time managing a very small club, so I might be overreacting slightly

There's talk of the club going under, any advise?

Thanks

 

[scottparker]

Just finished my first season with Crawley, go them promoted, but looking at the finances, I've managed to get them into £1.2 Million debt in one year, making a significant loss each month. My wages are the thing that's costing me so much, I am within the budget though? I've tried to offload a lot of players (no one wants them, not one), and I've just released lots of them.

This is my first time managing a very small club, so I might be overreacting slightly

There's talk of the club going under, any advise?

Thanks

Same thing happened to me at Crawley, it just made me think why oh why did they let me have such a huge wage budget

Anyway i pretty much ignored the debt but just made sure i was within the wage budget for next year (which was slightly lower) and then the club got a takeover from another board-member - didn't get mega-rich or anything but the new chairman took out a a new loan to cover the debt. I got bored of the game in 2nd season (i lost on penalties i the play offs : P ) and so i can't really tell you much more...

My advice is basically keep getting promoted if you can - then any debt you accumulate (in terms of loans or otherwise) is manageable set against the value of the club i.e. keep raising the effective value of the club and the bank won't have a problem with the debt. I realize that's pretty rubbish advice but unless you get a big takeover there's no other realistic way to service the debt; its so much that cutting wages alone wouldn't do it and your players probably aren't of a high enough value for you to be able to keep selling them off to cover it.

 

[Pottsy]

Cheers guys, @scottparker, you're right, the board did just get taken over, and an investment of 1.2 million was put in to wipe the debt. Had a solid start to the second season, but still making huge losses each month. All I can do is keeping winning I suppose.


That guide is helpful, cheers. I was arranging normal friendlies, but never tournaments.

Thanks again