Difference between revisions of "Financial Director"

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Latest revision as of 15:40, 16 August 2015

INTERWIKI

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Accountants.png

The Financial Director (known before as Economist and as Accountant) is a specialist that increases the amount of funds a club can keep in cash, before the Board intervenes. It also increases the speed with which the Board will release money to the manager when cash runs below the cash reserve limit established by the Board.

Hiring a Financial Director increases the Club’s economic flexibility and is especially useful for clubs that have a strong financial position. Normally, the Board sets a limit to how much money is at the managers direct disposal for things such as salaries, player transfer fees, or arena projects. The rest of the cash will be held by the Board and will only be released by the Board when the Board deems it necessary.

The Financial Director will grant the manager the possibility to invest saved funds into the squad more aggressively than the Board would otherwise have agreed to. Having a Financial Director on the team may be necessary for teams that save up for a few seasons to make an expensive run for the Cup or league title.

Skill Level ##Max Funds ##Return / Week Cost/week
- 15 000 000 € 50 000 € 0 €
Accountants.png 17 000 000 € 100 000 € 1 500 €
Accountants.pngAccountants.png 19 000 000 € 200 000 € 3 000 €
Accountants.pngAccountants.pngAccountants.png 21 000 000 € 300 000 € 6 000 €
Accountants.pngAccountants.pngAccountants.pngAccountants.png 23 000 000 € 400 000 € 12 000 €
Accountants.pngAccountants.pngAccountants.pngAccountants.pngAccountants.png 25 000 000 € 500 000 € 24 000 €

Example: Team Tycoon has accumulated 30 million in funds. Without a Financial Director, the Board will only the allow the manager access to 10 million € at a time. If the manger spends 2 millions, and the new cash balance is 8 million €, the Board will again make investment funds available to the manager, but only at the slow rate of 10 000 € a week.

Now Team Tycoon hires a Level 3 Financial Director. The Board now being more confident that cash is handled responsibly, will increase the max cash limit to 16 million € and the weekly release rate to 100 000 €. The Club can now spend an extra 100 000 € per week without lowering cash reserves, or increase cash reserves up to 16 million € without any further Board intervention.

Historical Development[edit]

Accountants[edit]

Old Accountants, known as Economists before 12/09/2008, were removed for the game in Global season 43. They were responsible for your bank account and could get you profits from assets and debts. The result of their work showed with the financial update in your country. You had to calculate the interest with two different formulas, depending on whether you have a negative or positive balance.

How did they work[edit]

Accountants had double function:

  • Debit Interest: If you had negative balance the previous week.

Interest for 1 accountant= [money on account in previous week] * 0,00666 ([money on account in previous week] * 0,0333 * 0,2)

Example: With -270.000 € on your bank account, you paid 3,33% = 9.000 € in interest expenses and you will generate 2.100 € in interest income. Accountant expenses will be 3.600 €, so it will not be profitable to hire more than one accountant. Here too it will round down to the nearest hundred €.
If your bank account states -269.000 €, you will only get 1.700 € in interest income, because it will round down to the nearest hundred €. Accountant expenses will then be higher than interest income, and it will not be profitable to hire any accountants!
  • Credit Interest: For a positive balance, the interest rate (as of 22/07/2007) was calculated like this:
Interest rate = 0.0375% * SQRT([amount of accountants]) (100 * FLOOR(0.000375 * SQRT([amount of accountants]) * [money on account] / 100))
Unfortunately the math package was not installed properly. Once this works, these formulas should be used:

interest rate = 0.0375% * \sqrt{[amount of accountants]} (interest = 0.0375% * \sqrt{[amount of accountants]} * [money on account])

That gives the following interest rates for numbers of economists:
# Accountants % interest rate
0 0
1 0.0375
2 0.0525
3 0.065
4 0.075
5 0.08375
6 0.09125
7 0.09875
8 0.10625
9 0.1125
10 0.11875
The maximum interest was 25,000 €