Getting Finances Back In Order

Firstly, I don't know if this is posted in the right place, I'm sorry if it isn't.

I'm managing Wrexham and got promoted to League 2 in my first season, but I'm £600k in debt and worried that I mght be in administration soon. When I started the game, I supposedly had £200k in the bank but I was back down to 0 within a week of starting the game and even though I've been about £3k a week within my wage budget, and I only spent about £5k on transfers in the wholefirst season, I still lose money.

I just wanted to know if anyone knew why I was losing money, if there's anything classic that I might be doing wrong. Also, is there anything I cna do that will make me money quickly??

Short of RTE there is no special trick to make money quickly. My advice would be thus:

1) Check your player and staff contracts make sure you have none on ridiculous wages, If so renogatiate or sell them (dont forget the reserves). Also make sure you are within wage budjet.

2) IF you have any decent players then it may be time to sell them unfortuanatley.

3) If its not to late put all you can into the FA Cup, a good cup can make a huge difference to a lower league side.

Short of RTE there is no special trick to make money quickly. My advice would be thus:

1) Check your player and staff contracts make sure you have none on ridiculous wages, If so renogatiate or sell them (dont forget the reserves). Also make sure you are within wage budjet.

2) IF you have any decent players then it may be time to sell them unfortuanatley.

3) If its not to late put all you can into the FA Cup, a good cup can make a huge difference to a lower league side.

I've already reduced by first team squad to about 10 players, hoping to make the rest up in loans and free transfers on low wages. In doing this I had to get rid of my player of the year from last season.

one thing that I did wrong last year was getting knocked out of all the cups early on, so I'll try a bit differently this season.

also, because I'm at the start of the season, I've arranged friendlies with premier league teams, because apparently I can make £100k a pop every time I play them, so I'm hoping that will make me quite a bit of money.

any other ideas everyone???

You shouldn't worry about the JPT that much, you'll not make much money from it unless you get to the final. The League cup and FA cup are the big money spinners.

I've been having the same problems as you except my clubs debt is £9m, and the cups haven't been kind with having been drawn against Championship teams at almost every round. The club just about breaks even I think (profits are distorted by the board inject cash 3-4 times a season) but only as I sell £300k - £500k of players every season. It's now 2013 and I am struggling to find loan players for some reason the EPL teams all have tiny squads.

Solving this is easy.

You worry about the football, the board worries about the money.

Just because you are under your wage budget does not mean that you will make money. The board do not take profits into account when giving you a wage budget. It will depend on how many people are going to watch your matches.

I am FC United in League and I have am spending around £17.5k on wages but I only have around 3500 people coming to watch my games which means that I only just break even. If I were to get bigger attendances I would end up making a profit.

What everyone else has said should be done as well especially the Cups that is one of my main objectives. What you have done with friendllies is a great idea and should really help

Relying on the cups isn't the best option. You get knocked out and that's your hopes of a money spinning tie against a big club dashed.

If your still in pre-season, then it's a case of trying to arrange friendlies against as many local big clubs as possible. As Wrexham, you should be able to get any of the big northwest clubs, other clubs from the north of England and most likely the midlands as well. Wrexham have a decent size stadium so try and get as many games as possible. You'll soon see the debt gone.

I took Altrincham into League 2 and managed to arrange 15 pre-season games. Some were against the same teams three times, like Leeds United. That netted me with a much smaller ground, about 60k per game.

I would also recommend pre-season friendlies as the best way of making money. If your assistant has arranged any friendlies, check if they are home or away and cancel any away ones, then arrange home matches in their place.