I often see people wanting us to follow 'the models' of other clubs we're apparently lagging behind. They're the likes of Luton, who went to the PL, reaped a massive cash windfall but are currently in greater debt than us and on their way to League One. Or Brighton who owe their owner £300m, or Burnley and Sheff Utd who are £50m in debt and may be spending another season ploughing through their parachute money. I'm not saying there's anything wrong with these clubs but I honestly believe we're in good hands. Some disagree with KLD's wish to run the club in a sustainable way ... ... despite the alternative being unsustainable as Messrs Short and Donald discovered. Football is existing in dangerous times so care is needed, Reading may cease to exist next week.
Isn't the easiest way to sum up this charge l, overdraft or whatever is that if any normal business wants to borrow money or have an overdraft, they put up security, be that property or personal guarantees. Gives the company lending the money some security and the company access to better interest rates. In short, some very clever men run our finances now, they have probably done this 1,000's of times in their careers so let's concentrate on Saturday
Grumpy Old Man, "What we don't know, and never will, is the upper limit of the facility. I don't believe for one minute that this was done simply to clear an existing overdraft. That really doesn't make sense. This is really about establishing quick cash access for the future. It's forward planning, and the extent to which it's used is probably massively dependent on what happens between now and the end of May."
It's all very well KLD owning assets and business interests, of a billion pounds, but having ready cash can make the difference in the transfer market ... ... he can't very well ask a club to keep a player on hold while he sells off a business or cashes in his Post Office savings account.
Now here's a club showing some ambition, no settling for mediocrity there ... ... Leeds supporters will be delighted please log in to view this image
We are renewing. It’s the whole package that we like on a match day, the meeting family, being out most of the day and added bonus of watching live football
Turning up for important games, play-offs, Wembley, etc, is a piece of piss ... ... supporting your club, your family and your mates, by turning up in the hard times, is worth a lot more imo. If we only bother when we get our little 'reward' then we're no better than buzzards round a road kill imo.
And if it all goes wrong and we default, the stadium and land go to a company owned by KLD’s mother and not a faceless bank.
The squad Short left us with were vastly overpaid and worth 10% of the debt we were in … … the current squad is worth four times what KLD paid for the entire club. They're quick figures, off the top of my head, but the point remains, the club has been entirely transformed and is now in a fantastic position. People nitpicking about XL away shirts being out of stock, the beers available on the concourse or the lack of cover at full back are missing the point in my opinion. Of course the club can improve another hundred things, perhaps a thousand, but flinging money at them can be self destructive as Mr Short proved beyond all doubt. We have a club to be proud of, seriously ... those who seem to love to call it a joke, an embarrassment and an operation run on a shoestring are entitled to their opinion … … being patient doesn’t mean you’re apathetic, or accepting mediocrity, nor does posting on forums mean you’re not.
Given the only 'capital' we have is 'owned' by the Dreyfus family, I'm sanguine about it all. Your point stands though.
