The Soccermanager Blog is the gift that keeps on giving! 🤑🤑🤑
Finances…. A topic that tends to put many a man to sleep within 5 minutes into a conversation about index funds, market allocations, and basis points. It’s a topic that a lot of us never really got a hand of, and because of this we’ve all been guilty of simply brushing it off. While we can potentially do that in real life and get away with it to an extent, if we try to approach finances within soccermanager with this mentality, let’s just say that you’ll be hearing “SACKED IN THE MORNING” chants from your supporters by November…
So, I’d like to officially welcome you to our 5 day masterclass on Finances in this beautiful game that we love above all else. In this masterclass you will be briefed on the basics of everything needed to be understood in order to keep the club’s balance sheet on point, gain a beginner’s knowledge into what the different items within both sides of your balance sheet mean, and you’ll also understand what the heck a “balance sheet” is.
Today’s blog is our usual introduction into what to expect for the rest if the week, and since you were blessed with 5 episodes looking at 2 different areas last week, I’m sure you’re still finding the time to digest all of that sweet sweet content.
Before we wrap up this quickie, let me just go over some of the concepts that you can expect for the upcoming days within this mini series. A Soccer Club’s finances are usually taken care of by the financial sector within the Board of Directors. They are responsible for keeping the club afloat with everything going on outside of the pitch. As the Manager, your primary responsibility is to ensure that the club are doing what is required on the pitch, but you must absolutely keep an eye out for what’s actually going on within the financial department because it will eventually start affecting the team’s performances on the pitch if your fincances are dwindling.
A Football club normally runs in a manner where they do not make profit until the end of a season when some of the additional bonuses come into play. So, what this means is that during the course of a season (on a week to week basis) they are operating on a loss (which is basically another way of saying that they are losing money). That is why it is very important to ensure that you are doing everything you can to keep the business afloat by taking care of things on the pitch, as well as upgrading certain areas that work like an additional revenue stream for the club.
With that being said (I think this is like my favorite phrase, lol), we’ll end it here today. Make sure that don’t miss tomorrow’s or the rest of this week’s episodes since there will be a lot of knowledge bombs dropped. Talk to you then, soccermanagerite ✌️
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