Trust Chair Keith Morgan, a football finance expert, takes his annual look ahead to the new season with just five days to go to The Championship opener.
The new season is now almost upon us and I am sure we will all be looking forward to it with the usual mix of optimism and doubts about how successful the season will be for the club we love Cardiff City FC. Similar feelings will undoubtedly be shared be fans of other clubs right across the country at all league levels.
Despite last season`s relegation from the Premier League, the general feeling from fans that I have been speaking to is that this season back in the Championship may turn out to be an enjoyable one with a realistic chance if the squad can be further strengthened before the transfer window closes on August 8 of promotion back at the first attempt. We have already seen a number of arrivals and departures in the squad as part of the necessary reorganisation that follows either a relegation or a promotion.
Financially, our year in the Premier League provided a major boost and helped avoid what might otherwise have been a difficult year financially if we had not got there as 2017-18 was our final year of receiving “parachute payments” from our previous promotion to the top level.
I have not seen the 2018-19 accounts, but would expect them to show a reasonable profit, perhaps sufficient to cover the losses incurred in the previous season at Championship level. Therefore, despite a big reduction in income as the new parachute payments are only at about one half of the levels of TV revenues we enjoyed in the Premier League, we start the season in decent financial shape.
There is little or no risk of the Financial Fair Play(Profitability and Sustainabilty) problems that we have all seen so publicly covered in the media impacting on a number of other clubs and which may well be a problem for others, including some direct rivals in the Championship, in the near future.
The senior management team at the club has also been kept together , with rumours of the club Chair Mehmet Dalman leaving to take over Charlton Athletic now having been dispelled, at least for the short term. That continuity can only be helpful in the effort to get the club moving forward on the field.
The togetherness of the club, its owner, directors, management and fans all pulling together in the same direction last season was a great strength. Let’s all work together in the same way this season as well so that we can all be in celebratory mood come next May.
All The Best,
Keith Morgan, Chair, Cardiff City Supporters’ Trust