Baggies have ‘no more cash to pay wages’
WEST Brom chief executive Mark Jenkins admits the club have “no more money for wages” and is shocked at the state of the Baggies.
Albion are 10 points adrift of the Premier League safety line with seven games left and are expected to be relegated.
Accounts filed up to June 2017 show pre-tax profits leap to £39.7million from £1million, only for Jenkins to warn about the future.
Jenkins, who was CEO under former owner Jeremy Peace, returned to the club to replace the sacked Martin Goodman when he was fired along with chairman John Williams in February.
He has painted a bleak picture at The Hawthorns and appeared to criticise the decisions of Goodman and Williams and ex-manager Tony Pulis.
He told the club’s official site: “When I was on the outside looking in, for example, I read the reports about the club operating at the limit of its short term cost control (STCC).
“Knowing the business as I did, I thought that was a negotiating position but I’ve come back and can assure you that we are right at our limit on STCC. There is no more money for wages.
“We have wages, transfer fees and loan fees running at record levels and yet we find ourselves in this position.
“I’ll be honest I’ve come back and I’m shocked at what I have found in some of the decisions that have been made.”
They are now set to lose defender Jonny Evans for £3million in the summer thanks to a relegation clause in his contract.
Gareth Barry’s contract expires at the end of the season along with James Morrison, who is earning around £80,000 a week.
Grzegorz Krychowiak will return to Paris St Germain in the summer after his loan ends with Albion having paid his £110,000-a-week wages in full for the season.