Doon frae Troon
Ryder Cup Winner
Strange how to some, a bonus of £75m is a crazy amount of money for a guy who doubled his companies finances in 3 years but not for a yearly salary for a run of the mill footballer in the EPL
Persimmon Homes
- Thread starter Doon frae Troon
- Start date
Bunkermagnet
Journeyman Pro
What footy players do you know of that earn £75 mill a year?
Obviously you been looking at Wings for far too long, as even Sanches at UTD reportedly earning £400k a week only equates to £20 mill yearly....
Obviously you been looking at Wings for far too long, as even Sanches at UTD reportedly earning £400k a week only equates to £20 mill yearly....
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Deleted member 15344
Guest
I’m not sure what point you are making but no “run of the mil EPL player†gets £75 mil a year - in fact nowhere near that level so your point or comparison is pretty ridiculous as per usual.
Someone getting £75mil on the back of government schemes was always going to produce negative press
No one does - it’s Doon as usual getting his facts about Prem Football completely wrong
Cake
Club Champion
I’d suggest that even if I had been sat in his chair for the past 3 years (and I know nothing about the house building business) there would have been a decent amount of growth on the back of the market and ‘Help to Buy’...
...but for me the real issue is that there was no cap put in place on the bonus, and that is not really his fault is it, more the Renumeration Committee/Board and/or shareholders that agreed to it.
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Deleted member 18121
Guest
Thing is the bonus has been massively skewed due to share price.
When he was awarded the shares bonus they were valued at £4 per share, they are now valued at £24 per share... Ie x6 times the value
Now I realise a bonus of £15m is still a lot, but wouldn't have raised eyebrows like the original £100m that was quoted.
When he was awarded the shares bonus they were valued at £4 per share, they are now valued at £24 per share... Ie x6 times the value
Now I realise a bonus of £15m is still a lot, but wouldn't have raised eyebrows like the original £100m that was quoted.
Doon frae Troon
Ryder Cup Winner
I was thinking of footballers transfer fees when I said yearly wages sorry.
Persimmon are building quite a bit in my town. Poor quality houses, incredibly dull and uninspiring design. If you are going to take a massive bonus then at least do something decent.
Ultimately he won't care. No need to ever work again, live in luxury for the rest of time.
Ultimately he won't care. No need to ever work again, live in luxury for the rest of time.
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Deleted member 18588
Guest
The comparison remains irrelevant as £75 million would not be the transfer fee for a "run of the mill" player
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Deleted member 15344
Guest
So zero relevance at all then because the money is going to a club not a person and £75mil isn’t the price for the “run of the mill†epl player - far from it
Grant85
Head Pro
If that's the deal he signed to incentivise him to improve the performance of the company, and he delivered, then it must have been a totally flawed deal in the 1st place. Especially as I understand it was originally a 100m bonus.
As a wider point, the whole home builder offering and product in this country are deeply depressing and uninspiring.
A large home builder takes over some land and puts up a combination of very similar 3, 4 and 5 bed room houses. Many fairly poorly designed. Often too close together with insufficient parking and road space for the occupants of the properties, most of whom will have 2 or 3 cars. Especially given these properties are often not next to traditional transport links.
Occasionally authorities will enforce affordable housing, so they stick in a few rows of terraces or a block of flats.
The standard of property is usually good, but is often well below this.
However the main issue I have is the homogeneous design and the lack of opportunity for people to have a say in the design and plan of their own house. I understand there are economies of scale at play and ultimately these companies need to make a profit, but when you see Persimmon dishing out 9 figure bonuses to one guy, there's clearly a bit of 'surplus' in the system to allow a bit more architectural merit in some of these new estates.
I've seen places in Australia where they have large areas laid out with 'plots'. People turn up and buy a plot, and can then get their own house built to their own specs. Ok, so Australia have a LOT of spare land for the most part, and maybe this will result in some people building poor / unsightly / cheap houses not in keeping with the rest of the area - but there must be room for a bit more thought to go into the UK model.
As a wider point, the whole home builder offering and product in this country are deeply depressing and uninspiring.
A large home builder takes over some land and puts up a combination of very similar 3, 4 and 5 bed room houses. Many fairly poorly designed. Often too close together with insufficient parking and road space for the occupants of the properties, most of whom will have 2 or 3 cars. Especially given these properties are often not next to traditional transport links.
Occasionally authorities will enforce affordable housing, so they stick in a few rows of terraces or a block of flats.
The standard of property is usually good, but is often well below this.
However the main issue I have is the homogeneous design and the lack of opportunity for people to have a say in the design and plan of their own house. I understand there are economies of scale at play and ultimately these companies need to make a profit, but when you see Persimmon dishing out 9 figure bonuses to one guy, there's clearly a bit of 'surplus' in the system to allow a bit more architectural merit in some of these new estates.
I've seen places in Australia where they have large areas laid out with 'plots'. People turn up and buy a plot, and can then get their own house built to their own specs. Ok, so Australia have a LOT of spare land for the most part, and maybe this will result in some people building poor / unsightly / cheap houses not in keeping with the rest of the area - but there must be room for a bit more thought to go into the UK model.
This. More going up locally and they are basically kit houses. Very poor build quality. We looked at several styles on our current estate when we were looking to buy. I know a couple of people who did buy and they had no end of snag issues and very poor customer service. I wouldn't buy a Persimmon house at any price. I would have used most of that bonus payment to improve the product and service
Beezerk
Money List Winner
A customer told me a couple of years ago that he’d been talking with one of the gaffers of Persimmon, they planned to be the Macdonalds of house building, knock em up cheap and in big numbers.
I’ve seen the windows that go in their houses, absolute cheapest of the cheapest garbage you wouldn’t put in a shed.
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Deleted member 3432
Guest
Majority of house builders are putting up rubbish these days
Wouldn't touch a new build with a barge pole.
Not sure how far back you class "these days" but we bought a new build five years ago. Yes we had issues but by and large Redrow were very good at dealing with them. Very happy with the state of the build compared to a Persimmon construction
Beezerk
Money List Winner
You’re certainly right mate, I wasn’t sure how many on here had bought new builds though ðŸ˜
HowlingGale
Head Pro
Moved onto a new build redrow flat 12 years ago. Tremendous, solid construction. So much so that the surveyor who came round to value it when we were selling told us that he'd been waiting for ages for one of them to come on the market.
Apparently he knew the development manager when the houses and flats were being designed and going up. The manager from redrow always said he wanted them to be absolutely solid, and they were. We didn't have any settlement issues in the 8 years we were there.
I'd buy from redrow again but I don't think they exist anymore.
Old Skier
Tour Winner
They do and unfortunately 5 of their vans are parked at the bottom of our lane
they are digging up every spare bit of land in north Devon
SwingsitlikeHogan
Major Champion
Is it possible that if Persimmon Homes just sat on the land that they have and did not build a single house the share price of the company would continue to increase and the boss would get a performance related bonus.
SiLH, strange but entirely possible if land values go up. Odd world isn't it?
Dasit
Tour Rookie
jeez how warped has your mind become, get off that wings website
Footballers are assets, they produce cash flow for the company from merchandise, increased performance money, ticket sales etc
If just making the champions league nets you £50 mill a year, maybe a 75million player pays for itself after a few season
