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| Main / Rookie Area / NOOB Questions About Finances and Managing Facilities Search Forum | |
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| Poster | Message |
| posted: 2022-09-15 06:33:46 (ID: 100169376) Report Abuse | |
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With that wage, your costs will likely be 70-120 million over a sustainable level.
And no, that amount will not come in extra on Elite level. |
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Captain Jack
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posted: 2022-09-15 09:58:00 (ID: 100169380) Report Abuse |
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michaeltodd wrote:
I'm gonna go broke next season if it isn't substantially more. You really need to address that problem immediately. I had financial problems this season after many seasons of plenty. Although I took immediate action I am still struggling and this season I may just break even. Next season's forecast still shows a deficit. The problem is that once you get into a hole it is incredibly difficult to get out because you can't take sufficient action quickly enough. Your wages are way too high (so are mine but not as high as yours). I have already put some of my thoughts into my discussions elsewhere regarding the economy and forecast. So in short start doing something now. Even so it may not be enough  |
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| posted: 2022-09-15 18:03:11 (ID: 100169386) Report Abuse | |
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Man, I am still feeling the pain of going broke as well. I am not a very experienced manager, but as others have said, I would get on top of this now. Even if it means relegation. It will take me at least another two seasons to get back to where I was. At least two seasons!
As one who has gone through it though, I would suggest that you not only take a look at your roster, but depending on how dire your situation is, I would consider immediately shutting down facilities you are currently paying maintainance fees for and downgrading coaching staff. It will be a lot better than going broke in the long run and every little bit adds up over a season. Not being able to count on mediacenter income next season because you have no funds to invest is also a HUGE negative, so you might want to start thinking about how to ensure you have the funds to pay the fee next season. Just my amateur two cents. Good luck with it! |
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Captain Jack
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posted: 2022-09-15 21:17:50 (ID: 100169387) Report Abuse |
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I agree with you Boa Tek. I have also shut down facilties. The problem that I have highlighted many times (and been criticised for) is that once you hit trouble everything conspires to keep you there. You can't fire players without incurring huge costs, the TM is pretty dead, as you pointed out having no money means you can't invest in the mediacentre. It is a long and tortuous path. I may get back to zero money this season (as opposed to being in negative at present) but my forecast for next season is -22M.
There is nothing that I can do to change that. I have been working on it all season. Next season will be the same. Maybe the only option is to let all my player contracts expire but in that case I might just as well quit this team and start a new one. I do feel there ought to be some sort of salary cap (even depending upon your finmances). Not all of us want to run Excel spreadsheets every day to work out our finances. |
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| posted: 2022-09-16 07:01:49 (ID: 100169390) Report Abuse | |
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With a full pledge to the Mediacentre I made $18 million profit from it this season, so keep enough back to pledge as much as possible.
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Captain Jack
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posted: 2022-09-16 09:56:10 (ID: 100169396) Report Abuse |
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Yes, but the problem is that if you don't have the money you can't do that. So as in RL the rich can make more money but the poor get nothing.
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| posted: 2022-09-16 10:42:21 (ID: 100169399) Report Abuse | |
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Regaring Michaeltodds situation it depends heavy on his current bank account. If he has say 700 mio in reserve, all fine for several season, but he needs to PLAN already NOW.
If he has say 50 mio or less, he needs to ACT NOW. |
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| posted: 2022-09-18 01:05:48 (ID: 100169412) Edits found: 1 Report Abuse | |
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Well, I have a few hundred million. But I'm signed in with the HR department, and shortly after ( too late!) I re-signed most of my players contracts for substantially more then last season, on average 2 or 3 times more, it occurred to me I'm going to lose near a hundred million or more. I did not resign around 7 or 8 high priced players, but that savings won't come near to the overall exploding contracts problem. I was in the hunt for the Monarch title, and having for the first time a decent run in the playoffs,while smelling Elite league right around the corner, and kind of went all in on my near term situation.
Last edited on 2022-09-18 01:07:22 by michaeltodd |
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| posted: 2022-09-18 01:09:31 (ID: 100169413) Report Abuse | |
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I'm definitely going to have to find cheaper coaches, and slash my budget elsewhere.
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| posted: 2022-09-18 01:10:27 (ID: 100169414) Report Abuse | |
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It's all good. This is fun!! 😎
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