A big throw of the Tannadice that could add up to trouble
As a wise man once said: “The safe way to double your money is to fold it over once and put it in your pocket.”
Somebody should have told Dundee United owner Mark Ogren.
The club’s eye-watering financial results, released last week, should ring alarm bells. The Tannadice club and its US owners posted losses of £3.7million, with salary costs soaring to £ 4,159,060 – 133 per cent of annual turnover.
Read it and weep. I’m no expert on economics in football but even by the most basic of arithmetical conclusions, United are out of control in the wage department.
A quick look at their squad begs the question of who’s getting what and why? Most of them remain r u n - of - t he- mi l l , b o t t om- t o - mi d Premiership standard players.
T he ob v iou s exception is the goal machine that is Lawrence Shankland.
As good a side as they are, and under the excellent management of Robbie Neilson, the truth is there’s no guarantee they’ll be playing top- tier football next season.
Back to Ogren. The Minnesota multi-millionaire took control of the club just under a year ago and was asked bluntly if he was looking to make money from the deal. He said: “Yes. This isn’t a hobby for us and we expect to make money longterm but ... for that to happen we need to be competing in the Premiership on a continual basis.”
Sporting director Tony Asghar is part of Ogren’s consultation team and, as a former travel agent, knows how to package a deal.
United clearly don’t believe in half board – this is a club going all out and all inclusive.
But this has been a week of worrying soundbites. Apparently this season’s promotion chase is not win or bust – any failure would only be temporary.
This is dangerous territory for a team who, in reality, can’t afford to fail. Let’s look at Newcastle for some context.
In 2017-18, total staff costs as a percentage of turnover were 52 per cent. The average in the cash-laden Premier League is 60 per cent – less than half of what it is at Tannadice.
On the plus side – well, kind of – United’s youth academy has been awa rded “Elite” status in the C lub Aca demy Scotland structure.
Remember that? Project Brave and Club Academy Scotland is something that most of the bigger clubs have distanced themselves from and the smart money is on that pipe dream being cast to the wind in a few seasons.
Uni t ed have spent a fortune to meet an SFA box- ticking criteria which nobody else is bothering to pay any attention to.
If they think they’ll get back to the days of producing multimillion pounds worth of talent through their own structure, sadly that ship has long sailed.
Ogren may have deep pockets and his bid to get the corner shop back trading against the supermarkets on a weekly basis will hopefully come to fruition.
But as for doubling his money, he can forget it.
This is dangerous territory for a team who, in reality, can’t afford to fail