It's one of life's great mysteries how women turn into bloodhounds when there's a hint of extra cash in the marital home.
Why would we waste anything witty or fresh on you lot? If your last couple of home games are anything to go by, the Mackem posters will be much too busy punching each other to bother biting on here How does it go down? "SHORT OUT!!!" "Erm excuse me Sir, I think you will find the current situation is the direct consequence of a myriad of factors, and that it would be most reductive and ignorant to draw correlation with the owner, who coincidentally also oversaw the greatest league finish in modern history and a rather splendid cup final, not to mention the rather fortunate derby-winning run the likes of which our comparatively small club will never see again... we might want to look at the fact our fans chase out every manager who celebrates a 3 month anniversary, the actual misallocation of the fairly generous funds that have been made available in the time, the recent historic legacy of ups and downs and the ultimate socioeconomic isolation of the town in which the club is based, which unfortunately resembles more a parasitic cist on the landscape than the thriving hub of commerce which tends to draw in the sort of mega investors our size club's wet dream about..." "THAT'S IT... YOU GET A PUNCH!"
Serious question though.... How close to administration are Sunderland? I don't follow the club's finances but I think they were making losses in the premier league and the drop in income is huge between the two leagues. Will Short prop it up? Even Ashley had to inject £15m into Newcastle last season and we were making around £30m profit the season we went down, and the £15m takes into account the parachute payments we got.
We only owe to one creditor and the loan is due to be fully paid by 2019. They could call in the administrators before that but I don't think anything is imminent personally. Short would have cut his losses at the start of the season when a buyer was interested but Short knocked them back so he must have time on his side to have another bash at fixing things.
He's going to have to put in a fortune this season though to keep the club afloat surely? Losses of (pick a number) £40m+? Club's in the mire like.
I have visions of Mr Short applying for bank finance to buy a new helicopter or something... "How is your personal credit?" "Erm... What league is the club I own in?"
Why? One thing that has been abundantly clearly is that he's finished pumping money into the club. So can't see how what you say can ring true. We had 40% wage reduction relegation clauses on all but 1 player and shifted 13 premier league wages off the books this season. we had 100m in tv revenue and raised 32m in sales, have one of the smallest squads in the league and cost cutting on every level of the club. We've been striped back and doing this is what made Short a billionare so he should know what he's doing with the route he's now taken the club down. This season will be covered enough to opperate with a further reduction on debt imo(though we made a loss on our last published account it did include 30m in debt repayments). Following season when we're start living off the Para's the finances will become a worry i think, but if he's managed to shift the creditor by then, the only money owed will be to Short himself so we become much more appealing to buyers. If worse comes to worse he can lend us more money, but he's been doing that virtually the whole time anyway. The bank debt is the danger but said to be around 80m. It's could be close to gone for all we know(Sounds like 30m went of the last accounts) and the club be at no risk of administration what so ever. He would have sold in the summer and took a loss if he was going to take another 40m hit like you surgest or if the debt to the creditor was in danger of being called in early.
I'd be very surprised if Sunderland didn't lose money this season and lots of it so I guess Short will have to cover it. The EPL TV money for the last season may bail them out to a degree though I admit.
Aye, but the money has to come from somewhere which I assume will be Short? Will he just keep putting money in? Or are you saying the debt will be covered by bank loans, in which case will the banks keep lending? These are somewhat rhetorical questions but you have to wonder how bad the situation really is?
From cost cutting. Wages made up 70% of our outgoings, those wages have been reduced by 40%(relegation clause) after a vast vast amount wages removed entirely from 12 top earners. That's a massive massive sum considering they've been replaced with 11 budget signings and academy promotions. We've shifted nearly half that prem squad. We've also made across the board redundancies and streamlined the club. Add to that tv money went up and player sales will mean our incoming will have gone up significantly on last season. Don't think you appreciate how much operational costs have been reduced.
