Alrite gang, Anyone wondering where the cash is coming from for us to complete the loan signings of Blackstock and Ziliukas Well, wonder no more!!! According to the Square Ball fanzine, Leeda have secured a cash injection by taking out a loan with Berrydale Sports Holdings. Ironically our Chief Executive David Haigh is also a Director of Berrydale. Thoughts? Why should we be taking out a loan to bring two average players in? Why would we need a loan? Do other Championship clubs need to get loans? Most of these other clubs, surely have smaller gates and less revenue coming in, surely?
Morning Elland and all. Day off today for daughters grad so you lot enjoy yourselves. The loan is simple, gfh have no money. Hardly any big surprise except to a select few that choose to believe otherwise. Policy is simple, keep borrowing until someone arrives with a pot of gold. Club sinking further in debt with each of these loans and a very dangerous policy to pursue. They really must be skint if they have to borrow money to loan Blackstock but at least confirms the real reason McD wouldn't pay 600k for Burke. Without a sugar daddy, there will be no investment in players with this lot. Let's hope McD can get Sundays team on the pitch more often.
Morning all Very worrying news remember last time we loaned money to buy players? hopefully they're not secured on gate in comings. I thought that Ziliukas was going to be a permanent signing as he was a free agent
Morning Wolves, yeah, he'll be a free, but his wages will still be 120k per year, and Blackstock even more
Morning Eire, really hope the graduation goes well today pal. You'd think with gate receipts, merchandise and the club being run properly, why are Leeds Utd not making money? How do other Championship clubs survive?
Morning all. Maybe its a cashflow issue. Probably makes sense from a business perspective somewhere down the line. GFH are, afterall, an investment bank. So they should know something about how best to pay for something. Zaliukus's arrival will work if we're playing with 3 CBs and 2 Wingbacks. Zaliukus can then push Lees, Pearce and Wooten to see which three will start each week and which player will either be rested or take a place on the bench. On Blackstock, what does he give us, & who drops out completely?
Morning all! Not that excited about Blackstock. Decent striker at this level, but I would have to change my underwear if I heard we signed Rowe or Burke!
Christ-didn't think I'd be saying things like that about those types of players (all due respect!) 10 years ago!
Morning all (Just) Thanks to Robbertwat Bates who syphoned millions out to his offshore account, and then took out loans against season ticket sales, we have a black hole to fill cashwise. Yes we have plenty of revenue coming in and have new sponsorship cash coming in, but gates are still not where they should be because the fans have had enough of mediocrity. Gates will continue to fall until fans see progresss and possible promotion on the cards. Paying rent and rates on Elland Road is hurting cashflow and the same thing for TA. If the Berrydale rumour is correct, then DH is trying to help the club get over the bumps and don't see anything sinister about it. It does however show that GFH may have stabalised the clubs finances, but done nothing to improve them really. Investment in the team is the only way GFH will ever see a return on their investment and the longer we are down here, the worse it gets as we lose fans and have to compete against cash rich clubs who have parachute payments and own their own stadium etc. I know I'm like a broken record, but surely someone within ER can see the logic of trying to pump some cash into the teams coffers.
Afternoon all I've been working in Scotland all week, finally back home. Feels like ages since we played, cant wait for Huddersfield! Not sure about Blackstock to be honest. Lets hope the new formation that McDermott is playing allows more chances for our strikers and maybe he wont be needed
Correct but most if not all that stuff was readily available on waccoe before gfh took over. added to the months of due diligence and there should not have been surprises for them. It's clear they over estimated the numbers of investors that would be willing to get on board and how quickly. Not too many sensible businessmen are going to want to plough money into football clubs
Eire spot on mate but no rich investor worth his salt will pile into Leeds in a % game, he will want it all or nothing. he will also be aware that to get a return on his investment in the short term he would need to buy back ER and TA, as those are valuable asetts and add book value. So on top of the £25m to buy the club from GFH he needs another £20m for TA/ER. A few million more to get rid of some players and then another £20m on new talent. £100m required to get us where we need to be, however a guaranteed £80m for promotion so a good option for a rich investor. GFH are holding the reins for someone else, but that someone else is hard to find because of the amount of cash required. So We've signed Dexter Blackstock until January 25th. Will we sign him onto the books then? I'm not sure about this signing but I'll give him a chance and hope he makes his mark and doesn'y become another loan failure.
Afternoon all, I wouldn't read too much into this loan thing. It's an arrangement within GFH, and it could simply be an administrative tool for tax avoidance or some such thing. The thing is, being financially regulated, we get to know more of the background dealings of GFH than most fans would get to know about their owners - which has got to be good. The downside is that most of us don't understand these commercial financial instruments & what they're for. We associate the terms used with our personal finance experience, and shudder when we hear words like 'loan', when in fact it can be to our advantage without us realising it.
Afternoon all - Exactly my thoughts Elland, even when you throw in the 25% on season ticket sales we should still have more income than many of those in this division. Probably find he has been taking lessons from Bates and there will be an extortionate interest charge.
I agree with Jock here and being a director of a plc myself I see all kinds of deals which are done that make the books look good.
This new loan they have taken out seems very long-winded and around the houses in its format. Obviously satisfied companies house with the info on it, but the catering company seems to be on the deed too - most peculiar unless they have to pay them because of a shortfall in profits due to lower gate expectations!!
Don't know what sort of gates they were anticipating, but despite all the games that have been shown live on Sky we're still averaging around 24,000. Can't be that much short of what they budgeted for.
