West Brom finance is worse than expected, at least according to the club’s chief executive. Mark Jenkins, West Brom chief executive said that the team is now dealing with a shocking financial condition. As for how serious the problem is, he didn’t share the details with the media. However, from his expressions alone, we can say that it is not a problem you can easily fix.
He also hinted that the club may have some problems paying the wages. The problem is so serious that he believes West Brom may need an overdraft in its budget. If it is true, then the overdraft would be the first West Brom has in the last 10 years.
With their financial problem, West Brom has a lot of homework to do. Right now, they are only 10 points from the relegation zone. With only 7 games left, they need to win at least 3 games to survive the competition. Now, with the financial problem, it will be getting harder for everyone to focus on the game.
During a press conference, Jenkins said he did not believe they are having this problem. It quite makes sense because West Brom is lately popular for their fantastic loan, transfer fees, and wager. Yet, they are now dealing with one of the worst nightmares of any football club.
Jenkins, who decided to leave West Bromwich back in 2016 after the club was taken over by Guochuan Lai, decided to return to his former club last month. No one knows the exact reason behind his return to the club, but some people linked it to the recent sacking of West Brom ex-chief executive Martin Goodman and their chairman, John Williams.
Even though the Albion’s 2017 pre-tax profit has risen to £39.7m from just £1m in 2016, their chief executive said that it is the utmost importance for the club to rebuild their finance before things get worse. www.dadumaster.com
He even said that after an investigation of the club’s finances, the auditor involved in the investigation recommended that they need an overdraft facility in the near future. It is deemed to be the best solution to fix their problem. Even though an overdraft is not actually new to a football club, the West Brom has not done it at least in the last 10 years. Fortunately, they are not afraid of having this facility. According to Jenkins, an overdraft will help them to rebuild their finance and understand every aspect of their earning this year. In the future, it will also help them to build a more strategic plan for recruiting new players.
With so many records they break on wages, transfer fees, and loan fees, a serious finance problem is the last thing you can expect to happen to your club. Even so, when it does happen, you can’t just feel remorse. For West Bromwich Albion, they choose to fix it so it won’t put a burden on the club’s future.