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Bankruptcy (thread closed)

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142125.22 in reply to 142125.20
Date: 4/27/2010 5:40:16 AM
Overall Posts Rated:
522522
I don't think it is bad advice. I realise he doesn't have to do it to get out of debt. But it will give him a lot of money which he could use to restructure his team, expand his arena and effectively start again. It is a valid tactic that can be quite advantantageous and effective when used correctly.

This Post:
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142125.24 in reply to 142125.22
Date: 4/27/2010 12:26:31 PM
Overall Posts Rated:
172172
If he sell all his players he might end up getting less than what they're worth. He has spent time building his team so selling it all would actually mean it was all for nothing :P. I would agree that selling a player for immediate cash to avoid doom and then dumping staff for lower level/reasonable salary will balance it out. He currently loses 40k every week, so if he dumps some 80k he's up to making 40k a week. After he gets away from the bankruptcy that's currently looming he can pretty much do anything he likes, except having overpaid overkill staff members :P

This Post:
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142125.25 in reply to 142125.1
Date: 4/27/2010 2:17:07 PM
Overall Posts Rated:
00
So, my team doesn't make that much money


Your team LOSES money. Big difference. This is a huge red flag for any organization.

my players cost too much


Disagree.

so is my staff


Agree, big time. The only option worse than firing them would be keeping them.

So basically, I'll have wasted all this time for nothing ?


I would argue you haven't spent much time at all, at least recently. How else can you explain losing 40k every week for long enough to be over 500k in debt? Your last player bought was in November, meaning you were probably in the black then. What happened?

You have dug yourself a deep hole, but follow advice on this thread and you just may recover without having to start over. In the future, remember cash (flow) is king.

Good luck.


Last edited by GCCSteel at 4/27/2010 2:20:58 PM

This Post:
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142125.28 in reply to 142125.27
Date: 4/27/2010 7:05:43 PM
Overall Posts Rated:
2020
It's better than -$40K.

I don't know how you're complaining about your situation when like everyone else said, you should've seen this coming.

My strategy is to try and keep my weekly income above $30K. And to SAVE, SAVE, SAVE

Think of this in a business aspect. Just because you're selling a lot of products, doesn't mean you're making money. In actuality, relating to your situation, it's like selling products for less than what it cost.


This Post:
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142125.29 in reply to 142125.28
Date: 4/27/2010 7:14:42 PM
Overall Posts Rated:
2424
this is my 2nd season and i am easily making 130 K weekly income. so it's not that bad for u to start over.

From: rcvaz

This Post:
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142125.31 in reply to 142125.30
Date: 4/27/2010 7:34:50 PM
Overall Posts Rated:
172172
That's the "problem" with training big men, with proper training their salaries go sky high in an instant. In your case you didn't go up a division so there was no extra revenue to make up for the extra salaries. I've not played this game long enough to face such problems, but I would expect teams to sell their prospects if they can't afford them anymore and buy/train cheaper alternatives.

But you've got to agree that you're paying way too much for staff! You make much more money in attendance + merch than the other teams in your league so you can afford to have a more expensive salary sheet. It was the staff that dragged you down. And also their salaries keep increasing, so a big problem just became bigger

This Post:
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142125.32 in reply to 142125.30
Date: 4/27/2010 8:08:54 PM
Overall Posts Rated:
237237
Thats what happens when you train guys. They would want more money the following season. Especially when you have a high level trainer.

I don't think being away is an excuse. You were making -40k a week and it would have taken you like 12-13 weeks to go from $0 to -$500k which is plenty of time for you to notice that there was a problem and need to be addressed.

Seriously, sack your trainer. You don't need a level 5+ trainer especially when you can not afford it. The salary rises of the players will kill your cash flow the following season

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