by JBG » Tue Jul 20, 2004 11:38 am
It could well be.
I remember Houllier claiming back in April that there would be a clear out of some players and that he had £30million to spend on new ones. Rick Parry seemed to confirm this.
However, I have a feeling Parry was fully expecting to attract investment this summer and was so confident in doing so he was prepared to put £30m at the manager's disposal.
I doubt Cisse will be the last arrival this summer, and there will be a small decrease in the wage bill given the departures of Heskey, Cheyrou and Babbel, but not as big a saving as some might think, given that there was an undisclosed "payoff" of Babbel's contract which could cost the club anything up to £1million, and it may be possible that the club may have to contribute towards Cheyrou's wages at Marseille.
I reckon there's probably enough in the "kitty" to make 2 reasonable sized signings in the £5-8m bracket, but most likely those signings will be paid in installments and offset against the expected (but far from guaranteed!) qualification to the group stages of the Champions League.
However, years ago you could buy a player for £2million (a fantastic figure £15 years ago) and not have to worry too much about wages as the maximum wages back then were around £7-10,000 a week.
Nowadays you could sign a player for £6million but have to shell out £40-50,000 a week for any half decent player. Normally a new signing would sign on average a four year contract, so at around £2.2m a year on wages, a £6m signing could cost you at least £14-15million, which nowadays is the real value of the player, rather than the simple transfer fee.
Parry will probably put Benitez in funds for 2 mid sized signings and maybe one or too small signings, but money for further signings will have to be raised by the club selling some of the existing players.
A couple of years ago you could even flog the likes of Diao, Diouff, Biscan etc quiet easily, but nowadays this can be extremely difficult as wages, and not transfer fees, become the major stumbling block.
Look at the market at the moment: Martin Keown, Darren Anderton, Dwight Yorke, Rivaldo and Patrick Kluivert are all struggling to find a club.
As we near the start of the new season and the deadline to sign players for CL eligibility at the end of August, it would appear that the chances of bringing in external investment is dwindling and transfer money for Benitez will have to be raised through a combination of wheeling and dealing as well as raising loans, which is dangerous in the current footballing climate.
Man City have raised funds over the past 48 months by borrowing against future ticket sales (like Leeds) and if they get relegated (which is a possibility) then they could go to the wall very quickly.
Jolly Bob Grumbine.