PERHAPS Newport County have it all wrong in looking to establish a workable budget for their debut season in the Conference National. Prudent financial management is so 40 years ago!

The Exiles board convened this week to talk figures; namely, recognising the fact that you can’t budget based on things that might happen (a mistake they’ve made before).

County ‘might’ average over 2,000 for every home game next season, but they can’t budget that they will.

They ‘might’ enjoy a long and highly profitable run in the FA Cup, but they can’t budget that they will.

County’s playing budget – wages, bonuses – will be based solely on money guaranteed to be coming in from directors, the Supporters Trust and any other revenue sources.

Which is all very sensible, in essence. It should be the only way to run a football club.

But, of course, it isn’t. It remains the case that chronic mismanagement of football clubs is still acceptable. Jeopardising the very existence of a club to gamble on success is still ok… for some.

Not for the Ironside version of County, who went out of business for just £300,000.

Put into perspective of course by Pompey racking up over £100 million worth of debt and still getting to the FA Cup Final.

For every Luton, forced out of the Football League because of administration and sanctions for debt and mismanagement, there is a Notts County - champions elect in League Two despite spending the season on a financial knife-edge because they spent a fortune with money that was promised but never arrived.

And what of Cardiff? In my very first South Wales Argus column, I caused a stink by suggesting Cardiff’s FA Cup Final appearance meant nothing for Welsh football and only benefited the Bluebirds.

While I stand by that view, I believe a Welsh club in the Premier League would have a more tangible effect on football in the Principality and I hope one of Cardiff and Swansea makes it.

But playing Devil’s advocate, would it really be fair if Cardiff go up?

Should a club in massive debt who have faced a winding up order this season, who knew their perilous financial position last summer and kept spending, really be rewarded with a place in the world’s richest league?

When in the very same division, Crystal Palace may well be relegated because they’ve gone over the top and into administration? The same way that Southampton will miss out on the playoffs for starting the League One season adrift on minus points?

These are huge discrepancies and it is no wonder football fans have so quickly realised that overspending and ‘living the dream’ is the last thing they want to see at their clubs.

Even Liverpool and Manchester United look precarious in terms of future success with such colossal debts likely to hamper spending power.

The Premier League, more so than the FA, have been far too soft for far too long on the way clubs are run from the top. Many observers will be thrilled that PL chief Richard Scudamore has finally admitted how embarrassing it is for his organisation that Pompey have gone into administration.

But what now? These ludicrous parachute payments that will only increase the idea that the only way to get into the Premier League is ‘to do a Cardiff’ rather than live within your means like Swansea.

With the three relegated sides this term likely to split £48 million for the next two seasons and £32 for the two seasons after that, it’ll be harder than ever to stop clubs who have been relegated returning just as swiftly, as Newcastle and West Brom have done this term.

That is likely to make the PL more of a closed shop than ever before, and as well as the obvious effect that has on Cardiff and Swansea (go up now or you might not get another chance), it filters right the way down.

If the Championship becomes, essentially, Premier League mark II, those aspiring to move up the pyramid – like Newport and Wrexham – are going to struggle in comparison to those like Notts County who are able to buy their way up (even if they don’t have the money).

Urgent reform is needed to stop the litany of badly run clubs mentioned here and to prevent others from repeating their mistake. It’s time for government guidelines pertaining to football clubs. No longer can they be allowed to operate differently to a business, because the only ultimate losers are the supporters.

Don’t believe me? Why don’t you ask a Chester City fan what they think?

While I promise not to mention a certain team who in the space of a week have had me crying tears of despair and then of pure unbridled joy, it’s time one man was given his due.

That man is Gareth Bale, he who is set to become the greatest Welsh football player of all time.

Yep, the greatest. And while that is always an arguable accolade in comparison to phenomenal players like John Charles, it will stand up certainly in the modern era, with the obvious comparison being Ryan Giggs.

While Bale will struggle to match Giggs’ medal haul for his club side (especially where he is now!) he will comfortably eclipse Giggs’ Wales career.

He’s already a third of the way to matching Giggs’ caps tally – 64 – and is merely 20-years old.

He’ll be Wales’ first player to 100 caps, and in terms of his next career move, he should be looking no lower than Barcelona, because he’s tailor made for their style of football.

And believe me, this isn’t more Welsh media hyperbole, the new Gavin Henson he ain’t.

This comes from someone who has watched Gareth probably 20 times this season and actually knows why he didn’t get a chance until 2010.

Purely and simply, Gareth Bale needed to grow up. His defensive naivity and questionable physical prowess for the PL held him back, as did the superb form of another Tottenham left-back, Benoit Assou Ekotto. Thankfully for Spurs supporters, Bale’s injury problems prevented him being sold on.

Bale took his chance when Ekotto was crocked over Christmas and hasn’t looked back since.

His defensive game has improved ten fold and going forward he’s becoming utterly unplayable. Superb skill, a wonderful left foot and stamina and athleticism that exceeds anything I’ve seen in 20-years of watching football at White Hart Lane.

And if you won’t take my word for it, or if winning goals against Chelsea and Arsenal still don’t convince you, listen to this chap instead.

“I’ve been watching Gareth for a while now and he's become a very special player. He has such an all-round game and is such an impressive young man.

“I told Gareth I believe he will be the first Welsh player to win 100 caps “He’s the right age, he has the ability and he’s going to be the first one to do it.

“You talk about me being the Welsh Wizard, but now it’s Gareth who is the Welsh Wizard. At the moment, I would say he’s got to be one of the best players in Europe.”

The source? Cliff Jones. I think he can be trusted to make a sound judgement.

A new hero of Welsh football has officially arrived.

So no more calls for Giggsy to return.

The king is dead. Long live the king.