http://www.walesonline.co.uk/sport/...rdiff-city-accounts-explained-expert-12703275 Losses of £8.74 million. Pocket money to VT but a borderline FFP problem. Still £100m owed to him. With parachute payments to end completely after next season, 2017/18 looks like a make or break for us. It is disappointing to see that VT has not made good his promise to convert £68m of debt to equity during the accounting period. It says that £10m was written off (good) and £8m was converted to equity in November 2016 after the year end but another £7m was put back in to bolster cashflow. In addition there was a further £7m loan from a non UK registered company in which Mehmet Dalman has an interest. Bit of a whiff of Sam's tactics there. I think this makes it clear that our big earners have to go this summer. Manga and Lambert being the main ones with Whitts having a publicised reduced salary if he stays. Up to Colin to bring in the players he wants on a shoestring and probably dependent on off loading the big earners. Not the news we wanted to hear. I guess Colin had a heads up on these figures so knew the message he had to give out. The article contains a link to a fuller assessment by Keith Morgan of the Supporters' Trust. This gives more detail and is a good read.
Makes you wonder where the money is coming from to fund NWs purchases this summer. Kenneth Zahore is a crown jewel that cannot be sold. That would be false economies. If he keeps fit and learns to score tap ins as well as worldies he could be the 20 goal a season player we all crave. City have to offload the high earners for a start and hope VT puts in some cash if FFP rules permit.
We were told last year that the £68m debt to equity was subject to Malaysian banking rules and they will work hard to find a way. Wasn't the £8m to be converted every of the next 5 years. So to me it looks like things are going as promised subject to Malaysia. The FFP rules should be helped by the money from Marshall and the loss of more big earners, I feel confident that Colin can work within it.
