We were 170m in debt sorry to say fella, It came out prior to the Pickford transfer we'd reduced it to £110m. I calculate we have about 78m of debt. Para payments are 60m over 3 seasons(30-20-10) So providing we're running in the black we'd need to raise 18m somehow to show in the books that the debt is covered and be able to sell the club. Remember, short doesn't need to debt paid, he just needs to show in the books that the debt will be taken care of. Of course that the debt is to short. He could cut his losses but the greedy **** believes he should get all his money back despite running us into the ground.
Thing is fella, the saved wages will shave a 3 or 4 million off the debt. Borini and lens will already have saved us 3 or 4 millions too, plus there'll be some kind of loan fees. With the guaranteed paras written into the books I think we're getting close of being in full control of our debt. I can see short being able to offer the club at a more realistic price very soon.
We can but hope mate and I prey you are right, we are out of he league at the worst time, and a new owner is our only prayer. I'm ok with being out of the league for a year or 2 to get the club on its feet, but that's not nearly enough, we can stabilise and go up to not compete, but we all know with a new, committed owner we could be such a great club. I'll hang on to that, hopefully something happens before I die...
I hate that the accounts a published a year after. Just hope these journos are right with their figures. If they're close, we could be close to getting shot. I think Short will start listening to offers again once we're safe. Lets just hope this squad has enough in it for early safety as losing half the transfer windows for negotiate the club sale has to be a put off.
We own the ground and the training ground of course, that's appealing to a buyer. Why the actual value of those is I don't know but it's not gonna cover the debt. In reality, if the debt isn't tumbling, surely Ellis would write it off and sell at a knockdown, as otherwise he is gonna lose more by continuing to fund losses. The only logic in him being here now is that the club is getting close to saleable, he wouldn't run the club into ground and lose everything, he'd be better selling the club as debt free and maybe seeing £50millikn or so. He must have an out game where he thinks he can sell the club for his money back, he surely must, and if he does that then the new owners must have a clean slate, unless they guarantee loans against the club, which currently it seems unlikely any lender would support. If this is the case then surely we can at least take that positive, he bought the club in debt, if he leaves us out of it then fair play to the fella.
I like the sound of this young lad but it smacks of Kone leaving tomorrow. A 6ft 5in, quick CB, whatever next!
Should have put the link eh? http://www.manchestereveningnews.co...s/tosin-adarabioyo-man-city-contract-13207123
I confess that for years I ignored stuff about the debt, in my stupid mind we had loads of money due to the Henderson and B€nt transfers. I should have listened to you a lot earlier Bri But £170m of debt just doesn't happen overnight. It was the worst in the Premier League (well apart from Man U & Chelsea, but they don't count). How the **** did we get into this position and why the **** did Short allow the debt to get so high before doing anything about it? It doesn't take much to look at the accounts each year and act. It's a ****ing scandal given West Brom, Stoke, Palace, etc., are fine financially
Well it's creeped up on us hasn't it. It kind of needed you to be skeptical of Short from the off to to see it coming. While everyone was buzzing a billionaire bought us, I was reading up on his line of business and what he'd been up to like the strange anal bastard I am I was very worried that he didn't really build anything in business, he was all about dismantlement and asset stripping. Flip side is what he's doing with us now is what he's best at and it sound like he making massive headway on the debt. Cost us our Prem status but it was just going to snowball if we hadn't gone down.
I can't believe it's been deemed thread worthy tbh, thread for every tom dick and harry. Going to be a long day.
The exact reason I thought of one generic thread. If we sign someone then I'm fine with the new thread as we can discuss the player in more depth, but to put up a new thread for every rumour is tedious imo.
I don't even mind if it obviously has legs. But piss biscuit is going to Hull or Wolves and certainly not us. Like we need a CM who does nowt on that wage.
Cheer up lads, it could be worse. Just imagine if we had somehow stayed up last season. We would be getting murdered every game and we would currently be bottom with 0 points. At least we're not bottom (not yet anyway)
