Sevco splash out on new financial axeman
With Financial Controller Brian Stockbridge picking up £400,000 a year and fellow accountant Graham Wallace on a similar wedge it seems unnecessary to pay someone else to tell the directors that a club with a £19m turnover is heading for the rocks.
Regardless of that ‘financial guru’ Philip Nash has been hired to examine the books which showed losses of £1m a month in their first published accounts.
Nash has worked previously for Liverpool and Arsenal and looks certain to be painted as the bad guy with both Wallace and Stockbridge unwilling to implement the kind of cuts that might allow the club to complete the season without visiting administration.
With the second week of the transfer window coming to a close no-one seems willing to tell Ally McCoist that his squad needs trimmed to the bone.
With players such as Ian Black, David Templeton and Dean Shields reportedly picking up around £7,000 a week and others such as Dick Forster, Steven Smith, Arnold Peralta, and Steve Simonsen pocketing £5,000 a week it’s obvious where cuts could be made without effecting the race for the League One title.
With £1.5m plus being spent on McCoist and his backroom team it doesn’t need a highly paid consultant to highlight where obvious savings can be made.
Confirming the loss of his transfer warchest McCoist moaned: “I could sit here and worry about it and ask all the questions like where’s the £10million I was promised.
“But there’s absolutely no point. I’d just upset myself and everyone around me if I started asking those questions. They are for other people to answer, not me.”
Yesterday Sevco shares closed at 27p with further falls expected next week.