SWANSEA'S money juggling over the festive season shows they are as neat and tidy off the field as Brendan Rodgers' team are on it. The Premier League new boys will reveal losses when they publish their accounts for the 2010-11 season next week. But a decent whack of that slip into the red will be down to promotion bonuses. The signs are that Swansea are not getting carried away with their Premier League riches. Like many clubs, Swansea borrow money to keep cashflow steady over the season. Their two main lenders are LloydsTSB and biggest shareholder Martin Morgan. Just before Christmas, the Swans repaid a Lloyds loan with money from the Premier League TV pot. An additional 3.5million they borrowed from the bank in September will be more than covered by the £6.5m wedge of January television cash they used as security. Morgan is a lifelong Swansea fan who made his millions in the travel business and helped save the Swans back in 2001-02. Through a company called OHL, he and his wife own 22.5 per cent of the club's parent company. In 2010, OHL lent Swansea 1m, which was repaid later in the year, and on December 22 the club registered a mortgage for a new loan. Given Barcelona's massive debts, any comparison off the field would be an insult to Swansea.
Dai's going to be pissed off . He wants us to spend £15 million. In the current financial climate, its good to see us sticking to the principals that got us where we are today. Well done the board
