UK: Soccer chairman scores in salary league.

UK: Soccer chairman scores in salary league. - Fingers on the buzzer. Question: When is a loss not a loss? answer: When it's used to pay the salary of John Hall, ex-miner and builder of Tyneside's own Zanadu, Metro Centre. According to accounts recently

by
Last Updated: 31 Aug 2010

Fingers on the buzzer. Question: When is a loss not a loss? answer: When it's used to pay the salary of John Hall, ex-miner and builder of Tyneside's own Zanadu, Metro Centre. According to accounts recently published by Sir John's Cameron Hall Developments, the group turned in a lachrymose pre-tax loss of some £3.7 million in 1990. Seekers after the reason why need look no further than the page listing directors' emoluments: most of the shortfall is accounted for by Sir John's knightly salary of £2,348,795. But do not fret: Cameron Hall's capital and reserves still stand at a distinctly untearstained £45 million, and Sir John can use the loot to support his favourite charity, Newcastle United. Indeed, Hall's purchase of £2 million in United shares was recently followed by his coincidental appointment as club chairman.

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Subscribe

Get your essential reading delivered. Subscribe to Management Today