He officially started work on Saturday, so at least now the media team don’t have to keep dodging him with the training ground content. If you look back at some of the gallery of photos from last week’s return to training, you can see a blurred Wilcox watching alongside Kraft in the back of one or two shots.
Whatever your views on SR (mine are less than favourable right now), the one thing you can't deny is their commitment snd willingness to invest.
They've already started the window pretty well to tbh, Let's see how it finishes. But I'm very relaxed with where the club is going.
Proof will be in the pudding come the end of the season. Early signs are good, though I was one of those who thought last summer was incredible on paper, and look how that ended up!
Fair point - Hooefully they've learnt from those mistakes. We have Wilcox in now so hopefully he is making better decisions too.
If I'm reading it correctly, Sports Republic is converting debt to equity, so they're underwriting our existing losses (while also slightly diluting Liebherr's remaining stake in the club) by 'raising' money from Dragan.
The guy who owns our club took £32m from his left-hand trouser pocket and put it in his right-hand trouser pocket, and that's meaningful because neither corporations or money are real.
FFP at the Premier League level doesn't actually deal with losses in any sort of real-world way...you can lose eye-watering amounts of money and remain FFP-compliant so long as you play the shell game correctly. It's why we never had anything to fear from FFP, particularly when we were selling players regularly. It's different in the Championship, and my unfounded guess is that this was an effort to get ahead of that. You can lose a maximum of £13m a year in the Championship, including equity injections (which is what this is), or £5m/year of straight debt. The rules are pretty stringent. Consequently, if the share issuance happened while we were still technically a member of the PL (and I believe that at least 2 of the 3 did from the dates in the Companies House filings, but I don't know when that rollover officially occurs), I'd imagine it makes it easier for us to remain compliant with the rules because we cleared a bunch of debt beforehand.
I will do it in the form of a dialogue. Our two characters are Dragan Solak, and the personification of the corporate entity that controls our club, that may look like Dragan Solak in glasses and a fake moustache, but they are legally distinct because corporate law is neato.
Goddammit I worked so hard on that formatting and it ruined it. Edit: fixed with the power of Microsoft Paint.
I can internet! (Please delete this? Completely screwed up my formatting and then managed to double-post)
