Baggies have ‘no more money’, admits shocked chief-executive
West Brom chief executive Mark Jenkins admits the club have “no more money for wages” and is shocked at the state of the Baggies.
Albion are 10 points adrift of the Premier League safety line with seven games left and are expected to be relegated.
Accounts filed up to June 2017 show pre-tax profits leap to £39.7million from £1million, only for Jenkins to warn about the future.
Jenkins, who was CEO under former owner Jeremy Peace, returned to the club to replace the sacked Martin Goodman when he was fired along with chairman John Williams in February.
He has painted a bleak picture at The Hawthorns and appeared to criticise the decisions of Goodman and Williams and ex-mananger Tony Pulis.
He told the club’s official site: “When I was on the outside looking in, for example, I read the reports about the club operating at the limit of its short term cost control (STCC).
“Knowing the business as I did, I thought that was a negotiating position but I’ve come back and can assure you that we are right at our limit on STCC. There is no more money for wages.
“We have wages, transfer fees and loan fees running at record levels and yet we find ourselves in this position.
“I’ll be honest I’ve come back and I’m shocked at what I have found in some of the decisions that have been made.”
It was widely reported in January Albion had little cash to spend to aid their relegation fight and would have needed to sell Jonny Evans to bring in serious reinforcements.
They are now set to lose Evans for £3million in the summer thanks to a relegation clause in his contract.
Gareth Barry’s contract expires at the end of the season along with James Morrison, who is earning around £80,000-a-week.
Grzegorz Krychowiak will return to Paris St Germain in the summer after his loan ends with Albion having paid his £110,000-a-week wages in full for the season.
Claudio Yacob, Boaz Myhill and Gareth McAuley are also out of contract but Chris Brunt is expected to trigger a one-year extension in his next game.
Boss Alan Pardew is also clinging on to his job having replaced Pulis in November. Pardew has won just once in 17 Premier League games.
Jenkins, who confirmed owner Guochuan Lai remains committed, added: “It’s been painful looking in and seeing the club I and many, many other people had built up to be an established Premier League club….it has all unravelled in the 12 months or more since I’ve been away.”
Inter Milan confirm they are in talks to sign Manchester United striker Romelu Lukaku striker Romelu Lukaku , Kevin Palmer 11 July 2019 Inter Milan sporting director Piero Ausilio has confirmed that the club have made an official approach to Manchester United for striker Romelu Lukaku. But discussions over the transfer fee remain a sticking …
Vincent Kompany warns Manchester United will not roll over for City If they beat Everton, City will have the chance to seal the Premier League title on derby day. By Andy Hampson, Press Association Sport 15 March 2018 Vincent Kompany expects Manchester United to do their utmost to ensure next month’s derby is not a …
After Hazard’s complaints Conte recalls his own clash with the boss The Italian was rebuked, fined and dropped by Juventus for questioning his then boss Marcello Lippi. By Matt McGeehan, Press Association Sport 9 March 2018 Chelsea head coach Antonio Conte knows from personal experience the cost of showing dissent towards a manager. Chelsea were …
Baggies have ‘no more money’, admits shocked chief-executive
Baggies have ‘no more money’, admits shocked chief-executive
West Brom chief executive Mark Jenkins admits the club have “no more money for wages” and is shocked at the state of the Baggies.
Albion are 10 points adrift of the Premier League safety line with seven games left and are expected to be relegated.
Accounts filed up to June 2017 show pre-tax profits leap to £39.7million from £1million, only for Jenkins to warn about the future.
Jenkins, who was CEO under former owner Jeremy Peace, returned to the club to replace the sacked Martin Goodman when he was fired along with chairman John Williams in February.
He has painted a bleak picture at The Hawthorns and appeared to criticise the decisions of Goodman and Williams and ex-mananger Tony Pulis.
He told the club’s official site: “When I was on the outside looking in, for example, I read the reports about the club operating at the limit of its short term cost control (STCC).
“Knowing the business as I did, I thought that was a negotiating position but I’ve come back and can assure you that we are right at our limit on STCC. There is no more money for wages.
“We have wages, transfer fees and loan fees running at record levels and yet we find ourselves in this position.
“I’ll be honest I’ve come back and I’m shocked at what I have found in some of the decisions that have been made.”
It was widely reported in January Albion had little cash to spend to aid their relegation fight and would have needed to sell Jonny Evans to bring in serious reinforcements.
They are now set to lose Evans for £3million in the summer thanks to a relegation clause in his contract.
Gareth Barry’s contract expires at the end of the season along with James Morrison, who is earning around £80,000-a-week.
Grzegorz Krychowiak will return to Paris St Germain in the summer after his loan ends with Albion having paid his £110,000-a-week wages in full for the season.
Claudio Yacob, Boaz Myhill and Gareth McAuley are also out of contract but Chris Brunt is expected to trigger a one-year extension in his next game.
Boss Alan Pardew is also clinging on to his job having replaced Pulis in November. Pardew has won just once in 17 Premier League games.
Jenkins, who confirmed owner Guochuan Lai remains committed, added: “It’s been painful looking in and seeing the club I and many, many other people had built up to be an established Premier League club….it has all unravelled in the 12 months or more since I’ve been away.”
© Daily Telegraph, London
Source: Baggies have ‘no more money’, admits shocked chief-executive
Share this:
Like this:
Related Posts
Inter Milan confirm they are in talks to sign Manchester United striker Romelu Lukaku
Inter Milan confirm they are in talks to sign Manchester United striker Romelu Lukaku striker Romelu Lukaku , Kevin Palmer 11 July 2019 Inter Milan sporting director Piero Ausilio has confirmed that the club have made an official approach to Manchester United for striker Romelu Lukaku. But discussions over the transfer fee remain a sticking …
Share this:
Like this:
Vincent Kompany warns Manchester United will not roll over for City
Vincent Kompany warns Manchester United will not roll over for City If they beat Everton, City will have the chance to seal the Premier League title on derby day. By Andy Hampson, Press Association Sport 15 March 2018 Vincent Kompany expects Manchester United to do their utmost to ensure next month’s derby is not a …
Share this:
Like this:
After Hazard’s complaints Conte recalls his own clash with the boss
After Hazard’s complaints Conte recalls his own clash with the boss The Italian was rebuked, fined and dropped by Juventus for questioning his then boss Marcello Lippi. By Matt McGeehan, Press Association Sport 9 March 2018 Chelsea head coach Antonio Conte knows from personal experience the cost of showing dissent towards a manager. Chelsea were …
Share this:
Like this:
January transfer news & rumours: Man Utd want Alex Sandro swap deal
Share this:
Like this: