Has Cortese Bankrupted The Club ?

Rumours abound that the club are millions in debt and borrowed money last year to finance player purchases.

Cortese personally brought in Ramirezn £70K a week and Adkins only knew about it when first appeared in the papers !

It would appear Cortese has gambled the club on it staying up or face another financial meltdown.

 

Either this is GMI or he has an equally troubled twin.

 

Rumours, eh? Why haven't I heard any of these rumours?

Also Ramirez is on no more than £40k. It's probably closer to £30k.

 

Hi GMI.

That clinches it.

 

Is this another 'text off a mate'?

 

Rumours are you're a twat, is this true?.

 

We must have lost money in last couple of years...spending to get back into the PL. Borrowing money is not a problem if you can service the debt. The Leihberrs wouldn't let the club go bankrupt as they would prefer to sell it as a going concern. The PL payments are sizable if you stay up or go down. Cannot see Nicola running up debts so large that the parachute payments wouldn't cover them. What we have to grasp is that NC will not reply to this gossip, so anyone can start rumours such as this and see who bites.

 

Yeah totally bankrupt, hence all the reports of not paying tax, wages or maintenance fees.

 

My sources confirm it.

 

Yep we are in debt and the meeting with Le Tiss is so the don can give him is concrete shoes and replace him with a robot that will only say nice things about the club and help divert attention away from the spiralling debt

 

Just get lost.

 

Is redstripe76 for real ? I'm stuck for words , must be a wum as can't believe he is really that stupid ?

 

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Rumours abound? This is the first I've heard of it...

 

Far to polite !!!

 

I got a text from a mate who said that this is in fact 100 % true .

 

Mitch are you just upset that your dads meeting was cancelled?

We have spent 35 million or so on players. 80 odd million coming for being in the PL. leaves 50 or so left over. Perhaps a loan we may have got earlier was secured against the guaranteed income mentioned above.

 

I feel dirty even posting on this thread, but we didn't even spend to get back in, have to bear in mind we pocketed £12m for Oxlade-Chamberlain, also made about £1m each on Surman, Rasiak and McGoldrick going way back. Before we got into the Prem in the past two/three years before during the first years of the Liebherr reign despite spending a lot compared to the leagues we were in we still made about £9/10m profit on transfers, our wages were not high and we had good ticket sales throughout. I'd say overall we ran a profit all the way through. And with the TV money this year, we're likely not far off making a profit this year either.

This idea, although this thread is just a wind-up, purely comes from people not understanding what loans are and how (most) football clubs use them.

 

I've already had a slap on the wrist from Channonfodder! Admittedly that was ages ago but still, better safe than sorry!

 

I think people often misunderstand what this means because the media always sensationalise it. You don't get given £80m for getting promoted to the Premier League, it's just a forecast of how much it's going to be worth to the club over the course of the next season when you factor in increased TV money, sponsorship, shirt sales and all other forms of income. I think there is some sort of immediate reward payment for promotion but it's nowhere near that much.