Shame that Holdsworth didn't buy us. £160mill of DEBT is potentially been written off..... Be interesting how the fl deal with it. We would have been relegated in a heartbeat.
In a nutshell lads Leeds Utd owes Cellino more than Leeds Utd is worth. you need to sell £10m worth of players each year to make the books look balanced selling with a big negative equity is going to be almost impossible now. Your player assets will run drier and drier and the debts to Cellino will get higher and higher CANT SEE CELLINO WRITING OFF ANY OF THAT DEBT like a good chairman would
Already has changed it to equity,just as your chairman has.Bet you wish you had just 1 sale able player at your club.Not 1 offer for any of your team[wonder why]
On the contrary m8 the guy he replaced makes him look like Messi.Scored more league goals than Morison even though he's played a lot less games.
No chesh, that's wrong, 6 million was converted into equity, there is no mention of what is happening with the other 36 million, presumably a loan.
£6 million this tax year,most of the rest will have been buying the club and that's also equity,if it was a loan we would have net liabilities which we don't.
Well according to the Wendies accounts they spent £6 million less on wages than us last season,so can't say we don't pay enough.Even allowing for a few new signings they have made still probably less than us.
Yes easily bought is our Pete,does a bit of a talk before games in the conference centre place,went in before last home sat game.Pete was doing a put a good spin on things talk and then he asked Terry Yorath for his opinion and he said we are ****.
My short conclusions having read the accounts are Yes they are a big improvement Despite slashing costs we still have to be a selling club to break even unless we can slash a lot more The balance sheet is still very thin - that matters
