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Purslow's accounting

David Hodgson

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Been giving a lot of thought to the statements and briefings coming from Purslow in the past fortnight regarding our incredible vanishing transfer budget.


According to his 'accounting' we have no money left for transfers, despite the alleged provision for the manager of a new £20m net this summer. He claims we must offset the monies raised from selling Keane, Alonso, Arbeloa, Leto and others (totalling c.£54m) against the purchases of Riera, Aquilani, Johnson, 'the greek' (totalling c.£44m) and the new contracts given to Torres, Gerrard and Kuyt.


Hmmm. By his own rationale, the books have been balanced by offsetting sales against purchases, with a surplus of c.£10m, so therefore that money and the £20m that Rafa was 'promised' has actually all gone on new improved player contracts ? My ar*e. Improving the pay of existing employees is an operational cost, and although this kind of wage inflation can be expensive, it is not out of kilter with the 'inflation' in the club's earnings (turnover continues to rise, therefore pro-rata headroom exists for wage increases). At any rate claiming these increases wipe out a £20m transfer budget is ludicrous.


All of the above is based upon giving Purslow's bent logic the time of day. The truth is that Riera and Keane were affordable to the club a year ago, and were clearly factored into available cashflow at that time. I'll guarantee that following Riera's purchase that Rafa wasn't told 'oh, by the way, you're going to need to sell a player for at least £8m in 6 months time to make Riera affordable'. Therefore, approaching xmas 2008, G & H's finances cannot have been planned around selling a player that Rafa had just bought 6 months earlier (Keane). To this end, it's clear that there is no other way to treat the Keane £15m gained in January than as new money that should have been available to the manager there and then.


Purslow has admitted that £20m was earmarked for Rafa this summer, and even allowing for the fact that most of that wasn't new money (£15m of it from Keane), that still suggests Rafa should have had a total of c.£59m to spend, after the sales he made. He spent c.£37m so where's the other c.£22m gone ? Wage rises again.


It's a scandalous fudge by Purslow and he's shown himself to be a traitor on a parry/Moores level already.

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