KOPR, I believe our debt situation is thus: We do have internal debt to Delia and other board members, but I'm pretty sure Delia has gone on record as saying she doesn't want the money back. I believe it was offered last summer and she turned it down. It's believed, although not certain that the other board members feel similarly, but they have all put much less money in anyway. At most internal debt might total £10m, on which there is no interest payments or desire to have back. Further to that, we do actually have external debts-for working capital. I presume that this is to allow us to function in the transfer market. The clubs main expenditure is in the two transfer windows, whilst a lot of the income comes throughout the year. I suspect most clubs work in this way, with these loans certain to be paid off within a short time span, by income we're certain of. These debts are simply used to make the most of our money when we need it.
I think it boils down to the fact that we owe Delia who we know would never put us out of business if it went tits up. I don't think you can say the same about ME with a level of certainty.
Probably bitterness is the wrong term, perhaps easy target is better? he hasn't done any to suggest he would walk away, and he is running us like a business. Not being funny but how many times has it been said that running a football club is a business now, and I'm happy that we have a successful businessman doing that.
But can you really trust somebody who has been pictured supporting Ipswich? As far as we know Marcus Evans hasn't been pictured in a Norwich Shirt, Hell he has never been pictured!
Dave How about turning this into the official Norwich Vs Ipswich Hatre..I mean banter thread and creating it as a sticky! (ooh er)
Nothing is certain in life let alone football. Although Delia is clearly heavily 'invested' in the club in more ways than one There is still no guarantee that that won't change, god forbid ill health or a personal financial crisis and she will be in need of some money or in need of getting out of that situation and then you could be at the mercy of somebody else in charge.. Though, As with Marcus Evans, she has done nothing to suggest that it is even a consideration and I imagine both will be with our respective clubs in 10 years time
Just found this from last month and it doesn't make for good reading if you ask me. If it was my football club (as if), my arse would be nippin'. http://www.itv.com/news/anglia/2013-04-08/ipswich-town-say-losses-will-be-addressed/ incidently, what is that ramshackle blue building in the foreground ?
As said before, I don't think we are the best but i know that we definately aren't the worst run club around! Lets turn all this crap around, would you rather be as you are now or be like Man United at the whim of the Glazers?
The Glaziers are reducing the debt though, it's a bit different. Your just sinking further and further.
I, for one, would NEVER want our club to fall into the hands of anyone who is only seeking self gratification! Tony Fernandez anyone?
I wouldn't say that is necessarily the case though.. We have increased our debt that much I agree but I think it's fair to say that our Transfer policy as well as Marcus Evan's vocal suggestions to the football league would show that he is very much of the feeling that this is a club he is 'putting right' I can think of many many more clubs that are run by far worse owners... Forest, Derby, Birmingham, Blackburn, Wolves, Leeds etc. etc. etc.
What I just cannot understand is how football clubs are allowed to run up these massive debts ? No other business model would be allowed to do so, or have I got that wrong ?
I agree it is a ridiculous situation football has found itself in and I think we'll still see more clubs go to the wall in the next couple of years.. Other businesses have racked up large debts and some have been fortunate to be bailed out but the likes of Woolworths, JJB and Kettering FC are examples of when it's all gone tits up with no one to pick up the pieces. I imagine that some of our League 2 & non league clubs will feel the pinch most as the FA seem unable to 'look after their own' and instead the money in football will be disproportionately divvied up and shared by the 'big boys' at the top of the Premier League
