Sounds like our whiter than white cousins up the road are living off tick. http://www.walesonline.co.uk/sport/football/football-news/swansea-city-play-down-fans-13516232
Can't get that link up remeote - is this the one you meant? http://www.walesonline.co.uk/sport/football/football-news/swansea-city-play-down-fans-13516232
As a former banker (yes I said banker), in fairness, the explanation is reasonable. Just looks like no one spotted it before.
Not a banker like Bluey but was in business for 30 years before packing it all in because of a similar circumstances. Nothing unusual about borrowing against future earnings in business rather than tangible assets. The difference with football is the tangibility aspect of those future earnings. Such risks usually come at a price and it's hedge funds that get involved not high street banks. If it's Barclays who are providing the capital to go forward they must be pretty confident that the business plan is sound. The downside in my experience is they continuously make you justify it, and the eye over the shoulder can be unbearable to say the least. The pressure that can be applied to do something to reduce borrowings because cold feet have crept in is a bloody nightmare. I've been there in a very small way compared to what we are talking about here. I can only see this method of funding the club as a business is a measure of the lack of ready capital from owners who either haven't got it or are unwilling to use it.
what like the ppi scheme>>>>>>>>>many bankers should have been sitting in jail for that fraud hey, nothing personal dude I just think the banking system is working against the many for the few. as for Swansea>>>>>>>>like ourselves the future is out of thy hands and what will be will be...................trumped is the word.
Aber - while PPI was clearly frequently mis-sold (never by me I may add ), it also worked well for many people who couldn't make their loan repayments for whatever reason. As ever, the negative over rides the positive.
glad you wasn't part of the process of taking money from people who clearly didn't need 2 make extra payments dude...........the negative is there because the banking cartel chose 2 sell us a product we didn't need>>>>>>I can guarantee you that the amounts paid out 2 customers in claims will never equal the amounts taken off us by the house of Rothschild puppets. I wouldn't say it worked well for people who couldn't meet thy loan payments>>>>>>im not dumb enough 2 think the bank helps anyone in need at times of crisis dude, they make more off them for a longer period......that's what banks do>>>>>or if they cant pay they will take it away anyways the only positive I can think of in banking circles is that they do have quality water machines in waiting rooms nowt personal bfb, im the same with police, bailiffs and lawyers, my brother in law always gets me arguing with him being pig in tit hat five days a week......he`s an fking ex miner 2 shame on him <wink>,......working for the enemy I tell him!!!.......but his pay makes up for my views
Browsing the swans board I was surprised at the vitriol towards Jenkins. A season or two back they couldn't speak highly enough of him, lauding his love of the club which is why he saved them. I did point out at the time that if he loved them so much he'd have put his cash in before they went bust rather than buying them on the cheap after they went to the wall. They are now seeing him take money out of the club. He sold up (out?) for a huge profit and now the Yanks are in charge they are doing similar. Not a good vibe coming from out west.
from jack 2 a king and back again.........bet they wont make a film about this last two years.....from a fan owned club they had it all>>>>>>now they have nothing but yank promises.......the costs of football these days hey
