http://www.dailymail.co.uk/sport/fo...-guide-Premier-League-s-financial-health.html Swansea and Spurs are the only debt-free clubs!
Spurs due to the sale of Bale and us with a good wage structure........We or spurs will be in debt today due to our out of control wage bill and if a small club like us dont heed what we already know about paying wages above our means then it wont be to long to find ourselves in trouble...
Dai - even if you are correct that the wage structure is "out of control" the monies from the sale of Bony should mean that we do not yet have debt on the Balance Sheet. However, if the club purchases the Liberty Stadium, then the cost of that could result in loan debt appearing on the Balance Sheet.
We have no choice in the near future, the EU is investigating our rent arrangement and if we are forced to pay full renting costs then it is better to own the stadium.
Don't see how Dai, for one thing, renting is a complete expense and a drain on finances with zero return. Even so, it may be beneficial to rent, especially if prices are too high but this isn't the case with the Liberty. I understand that we, Swansea Holdings, can purchase the Liberty at 'beneficial' (cheap) price. Currently the initiative to sell/purchase is being driven by our council who, like most Welsh councils, are currently going through a torrid time financially. With far worse on the horizon if the bankers coalition are re-elected they are pretty keen to generate money and the Liberty is their biggest asset. If we wait and Council funding is slashed, as Cameron has promised, then the council may HAVE TO sell and sell to the highest bidder, in order to balance their books. If it ever got to that stage an invitation would be sent out for other bids, then we would end up paying far more than if we bought it now. Worse case scenario could be that, say a property development company, could purchase the Liberty, with us being seen as a cash cow to be milked at will. Even worse case scenario could be that the new owners may want to develop the site effectively making us homeless or in a situation where we'd have to pay top $ to have less than we currently have. Best buy the Liberty right now to secure our and its future.
