When they cleared the original debt, I recall Assam on the radio saying once he'd got his hands on City's books, the debt was much bigger than was originally suggested to him when he started negotiations. As far as paying himself back, his "gift" with the income over the subsequent seasons to clear the debt, then would they have been able to - and still invest in the players identified by the managers etc? I've often thought that PL promotion sounds great, £100m+ guaranteed etc, but the reality is often that unless you wanna do a Norwich and not spend on new players, then their costs are same as the income. There is also the fact that the £100m comes in installments, so costs are more than income initially, which needs cash flowing. Great if you get three full season on the trot, but if you get relegated, then promoted again, you lose some players, then buy again when promoted.
Burnley have managed to stay in the Premier League for five years, while remaining debt free and building a state of the art training facility, it's obviously possible.
Anyone who believes a word Papa says must have been bitten by a mad monkey. The company are doing very nicely from their ‘gift’.
Earlier this year, it was announced that we were the fifth most profitable club last year (in the whole league). Where is that reflected in the accounts?
he didn't do any due diligence - he was under the impression the debt was about £30 million - he later estimated it was about £40 million - something to do with money lent against the stadium
Different clubs different situations. they already had a go a few times and were sensible back then was it under Coyle?
Selling the club unlikely as asking price too high and squad is mostly League 1 level who will mostly not make it in a higher level. The club has a clueless manager and assistant who have demonstrated they are incapable of training and motivating the squad at this level and will be unable to do it at a higher level. The only way the owners can sell is if City get automatic promotion but then they will need to invest heavily to stay in the championship but with this manager and his team not going to happen. Ehab if you follow these posts get rid of McCann and his team and most of the true fans would welcome this as a clear intent you want the club to bounce back.
His points are opinions, not facts. Evidence suggests he's possibly correct, but they're still opinions.
