Millwall head coach backs prudent approach as financial spending under scrutiny after Everton and Forest alleged breaches
“We need more depth in our squad,” Edwards said prior to Tottenham defender Japhet Tanganga’s loan arrival. “You have a small window of time to achieve it, but it won’t be simple. There’s a reason why everyone gets excited every time it’s deadline day, even though you see other clubs doing different things.
A lot of action usually occurs during the last week because clubs who may have approached some of the players will hold out for them, refusing to let them depart until they find a replacement. A good deal of the work has been completed. I still have optimism that things will be different when we get down to speak in a few minutes.
Under profit and sustainability rules (PSR) Championship clubs are permitted to lose £39million over a three-year cycle – £105m in the top-flight – and exceeding that brings the risk of sanctions. Millwall’s policy has always been to stay the right side of the rules, but they have still regularly outperformed their budget since promotion to the Championship.
When Luton were promoted to the Premier League via the play-offs in May there was plenty of plaudits for a club that had punched above their weight and landed a knockout blow on more heavily resourced rivals.
Gary Rowett, when he was Millwall boss, talked about how the two clubs had a similar approach to attacking the top six. But Luton’s financial statement for the financial year ending in June 2023 shows they spent £27.6m on wages – 150 per cent of their revenue – and posted an operating loss of £21m.
Prior to signing Tom Bradshaw from Barnsley in 2018, Millwall’s biggest transfer for Paul Goddard was £800,000, a move completed in 1989. The terms of the deal guaranteed a £1 million outlay.
Since then, the Lions have regularly paid players seven figures (Casper De Norre, Zian Flemming, and Matija Sarkic come to mind) and given players like Jed Wallace large salaries, by their standards.
Head coach Edwards of Millwall, who took over for former Rowett, is in his first transfer window. Edwards has held senior coaching positions at Chelsea and Everton in the past. “At the club where I work, money is spent liberally, and things aren’t always done correctly.”
“The reason we hadn’t was because of the financial situation which had occurred over a number of years of getting it wrong, which Everton are feeling even more so now. I have lived first-hand the issues you get when you have overspent, and it’s not done properly.
“Credit to the club that there is no danger of stuff like that here. You just have to find the right balance so that come February, when we’re really attacking the second half of the season, we’re comfortable that we have a strong enough squad to be what we want to be.”
Edwards talked after Saturday’s loss to Middlesbrough at The Den about his side needing “help” in terms of January additions with the likes of Shaun Hutchinson, Ryan Leonard, Aidomo Emakhu and Tom Bradshaw ruled out.
Academy products Romain Esse, Kamarl Grant, Sha’mar Lawson and Niino Adom-Malaki, loaned to Sutton United earlier this week, were on his bench.
“We need more depth in our squad,” Edwards stated before to the loan arrival of Japhet Tanganga, a defender for Tottenham. “You have a window of opportunity to do it, but it’s not an easy window. You see other clubs doing various things, but there’s a reason why everyone gets excited on deadline day every time.
A lot of action usually occurs during the last week because clubs who may have approached some of the players will hold out for them, refusing to let them leave until they find a replacement. A great deal of work has been completed. We’re still in a situation where I’m hoping that when we’re sitting down to discuss in a few of minutes.
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