Thanks SB, that's very informative. I can see where Danish is coming from even though I'd like to see factual figures, but I fear that he's in the ballpark... "The report, which was personally signed off by Fernandes last month, also said that the directors have “a reasonable expectation that the company and the group have adequate resources to continue in operational existence for the foreseeable future”. Good. "It added that the financial results were a reflection on “the focus on on-pitch success". Bad.
True, but you can't put on the outgoings of the club without an idea of overall annual income as well, be it from the Premier League, investment from the owners etc. Man City lost nearly £200 million in 2012... A premier league record, but they don't go bust as the owners foot the bill. Tony Fernandes has been very naive, but I wouldn't jump on "QPR are going to be the next Pompey" bandwagon yet.
You're right Frankster but I doubt the main 66% Ownership of our club have the resources of the Abu Dhabi Royal family. My point is that there has been alarming and repeated negligence and incompetence at basic levels which need to stop now. Further repeats may well see us go down the Pompey way. Just hope we are not going to be paying off Zamora, Bosingwa, Barton, Johnson, Ferdinand when we have a far reduced income.
Good wisdom mate. I always tell the people who work for me that I will always help them with problems, and make sure they get credit for what they achieve and opportunities to test themselves if they want. But if they come to me with a problem and have made no attempt to think through possible solutions, even bizarre and stupid ones, to expect to see that reflected in their pay review. Works wonders. It would be just like us to win tonight. Well, I can dream......
I've got what seems half of Denmark coming to my place and needless to say only my oldest and me are RRRRs. I'll be cooking Confit de Canard washed down with a Somota Pinot Noir. If they give us a beating lioke last year I swear I'll pour the sour grapes in the next bottles. Unfortunately they have no class and will still lap it up!!! Come on you rrrrrrrs. Do it for us desperados and for even just half the pay cheque!
I have no desire to slag off TF as I admire his passion for the club. I am not a business man yet I know that the wages alone are unsustainable for a ground that holds 18700 fans. Having said that, we don't know what other sources of income bring in terms of sponsorship. I presume Air Asia's contribution is tax deductible?? I am bothered by the fact that TF and Phil B both made a big deal out of the fact that the club was going to be well run, on a sound business footing and with sustainability in mind. I am not in a position to say that is not the case but I would love to see some evidence that it is, even if / when we are relegated. I still believe that Fernandes will not walk away and that he will make it work. It's just going to take him longer than he thought and after a few painful and expensive errors of judgement. Harry in charge before the Reading game would have (likely) seen us a lot more comfortably positioned than we are now.
Agree with that. I've been very critical of Tony of late and I stand by that. I think he and Beard have been remarkably naive. But football is a notoriously difficult business to make money in and I don't doubt that Tony is a sound business man. His airline is proof of that and I don't think his life successes are all down to luck! However, now is the time for all the owners to get their game heads on............and fast!
I think Col is right in that really all we can accuse TF of is naiviety tbh. Putting all their trust completely in the 'Mark Hughes Project' was incredibly foolish with hindsight. Surely after we had signed Rob Green and when Hughes knocked on Beards / TF's door and said 'Great news! Cesar is available, lets sign him up!' someone, anyone should have said 'No sorry Mark we've just signed Rob Green, we don't need 2 top keepers on big money, we can't afford that'. But no-one did and frankly thats a bit shocking in this day and age.
That's precisely what will happen and what I have been saying since before Christmas but what do I know... The geezer has made such a hash of this he can't afford to front it anymore and neither can he's other co consortium malaysian members
What do you want to happen? I want Tony to be in for the long haul, as he is obviously an enthusiast and wants us to do something more than just exist. He placed too much trust in Hughes (easy to say in hindsight) and we will know if he trusts Harold by what happens in this window. Give us an opinion rather than a prediction mate.
It's not a prediction it's what I've been told, lets see what happen. Obviously this mess needs cleaning up but we are so far down the line now your gonna need extremely deep pockets, all of TF personal business ventures are built on debt but a football club is a different kettle of fish I'm afraid. It's lucky the Mittals have been playing the waiting game so long and can fix this but if they wasn't it would be bye bye to the club
They definitely won't come out in Feb. The accounts due this year are the ones up to the end of last season so they won't even reveal how much you paid for players in transfer fees in the summer never mind their wages.
Me? Him? Or both of us? If you meant me I will be, but I haven't finished my qualifications yet. If you meant him I'm happy for him to explain why they might show the future figures beyond the auditor's signing them off as a going concern. (that might sound sarky, but I mean it, if there is a reason I'd like to know to fill the gap in my knowledge)
Is the club worth as much as it was when the Goons sold their share to Fernandes? Presumably not, as we were then a newly promoted club looking forward to a season in the PL and unburdened by a clutch of superstar contracts stretching into the next couple of years. Wouldn't think there would be a string of investors ready to bite unless it was at a give-away rate.
