Swansea City : The Fall and Rise.

Oh,how I miss him.

 

No hypocrisy, I have never denied the financial situation at the club I support. The article I refered to states business' are owed money but the club directors have taken a dividend. I have already acknowledged aged debt on your accounts. I have also acknowledged the supporters trust did not take the dividend, you are going over old ground and haven't offered anything new, your board acknowledge they owe money but you don't!

 

Sorry to dissappoint but I am not the proph.

 

I don't, what a ridiculous buffoon he was. He left the forum because he was regularly made to look a fool. I can vaguely remember one thread when Norway and I took the bugger to task and he was never the same after it

 

Yes you did but he's morphed into ?

 

"Ridiculous buffoon",but he isn't the only one from Legoland to enjoy that accolade. The place is overrun with them.

I don't remember his last days,but I think he was banned and changed his name,even more often than that other "buffoon",aber.

 

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Yes the money was owed, but there's nothing they can do about it now, giving money away must be accounted for, yes they can give to charities but are any of these that ? You don't appear to know even the most basic of doing business and the obligations that entails.

And they took a dividend this year, forget that they have worked for free for the last nine years and pumped their own money into the club, I think they deserve it! They took a huge risk and as the club is in the black now they are entitled to this.

 

They are called vermin for a reason, just keep it stored up for when ting tong pulls the plug guys

 

When the new owners took over they would have an aged creditor list, it's part of accounting.
I have read the article and fair play they haven't taken a dividend but that doesn't mean they have not been paid. I am not debating them not being paid, my point is settle the debt and then take your dividend. How much profit did Swansea make last year? Approximately 15 million I believe and they haven't settled an outstanding 250k with the likes of the ambulance service, St Johns (who negotiated a barter) come on, is that reasonable?

 

This Cardiff mod has double standards about owing a client debts as much as the double standards of how he believes users should act on these forums, no wonder that Aber bloke is like he is when someone like Taff exhibits such two faced principles in open public.

He is just bitter that compared to the Swans his club is a bit of a laughing stock, they actually think they are a big team and their owner as he said has invested... So much in fact they are currently at this moment right now over £80,000,000 in debt. His personal worth is about £800,000,000 and that includes assets which means he doesn't have 10% of the debt in cash reserves. Taff speaks of knowing business yet doesn't know what CVA's are not how they work, and he fails to notice that a club earning over £15,000,000 profit per six months is massively more powerful than a club whose debts continue to rise. His club are nowhere near as big as he thinks, they do not have the commercial enterprise to eat away at that debt and this 1st place in the Championship is not going to make them any cash, they will post a net debt for the 2012/2013 season much like all teams do when promoted from the Championship.

They talk of spending £25,000,000 yet how will they balance the books when every Cardiff player will expect salary increases from Day 1 next season? How will they keep within the £4,000,000 limit on total wage increases? Oh yeah, they think they are exempt from F.F.P. Cardiff are ****ed.

 

Big companies DO NOT negotiate on how much tax they pay with HMRC. If you owe £x amount of tax you pay it or HMRC chase you with a big stick.

The ONLY time you can 'negotiate' with them is when a company is going to the wall and if HMRC push for the full amount of tax owed the company threaten to go tits up which would lead to HMRC receiving less money overall as they are no longer a preferred creditor.

So that's what Cardiff did, they basically held a gun to the taxmans head. If VT is such an honourable man why didn't he lend you that little bit extra so you could pay your debts off properly instead of ripping off every decent tax payer

 

Whats 7% interest on £80M debt ?

I make that £5.6M. Ting Tong is making some really easy cash over there. I beg the cost of taking out all those blue seats and replacing them with red for Malaysia seats is tax deductable too

 

VT is certainly a great business man, when he took over Cardiff they were only £33M in debt now they are £83M haha

Rather than slashing costs so the clubs finances are sustainable he spent 4 years making sure they still lose money so he can now claim 7% interest a year on an extra £50M

 

I think it massively hurts them that they will never be bigger than Swansea City FC, what player would choose Cardiff if both clubs bid for a player? The answer is none, they want to join a club that can guarantee the pay cheques will still be posted two years from now.

Lets look further at the finances, the bottom teams are expected to make £60,000,000. £25,000,000 will be spent on players apparently, so Cardiff will get £35,000,000. Then there is the running costs of about £30,000,000 excluding transfer fee's (lowest in 2012/2013... Could be higher for Cardiff), so Cardiff gets £5,000,000 out of the £60,000,000. Isn't that cash going to somebody? Oh yeah... Ting Tong gets it as interest!

 

Clearly a lot of you do not know big business. Look it up, big companies do negotiate tax liabilites with HMRC and they do come to agreements when they are a going concern.
I haven't hidden my view on the financial situation at my club, but suffice it to say you guys do not know too much about it as you do not understand what is happening at Cardiff. Luckily for you your board are switched on enough to run the club and not you guys posting here. You carry on being happy that they rode roughshod over small business in your area, hopefully you won't find yourselves in that situation again.
As for those wishing liquidation and ruin on anyone, well it speaks volumes for you guys and your morals.
Shame you can't empathise with the poor sods out of work because small companies had to accept 5 p in the pound. Sleep well folks.

 

Will do Proph

 

Wishing it and stating it are totally different things, the only laughable part is you don't seem to think it is a possibility. Are you at least not cautious of the situation in Cardiff considering the last two were supposed to sort the mess out but failed and all of a sudden some bloke from Asia comes in and makes the debt situation even worse?

 

Oh dear, if only you knew what I did for a living. Some on here do and if they are reading this then they'll be having a good laugh about that previous statement of yours Proph

 

I haven't stated anything on our financial situation. Football is a risky business and Vincent Tan isn't in it to lose money.
The majority of debt is owed to him. Therefore, he must succeed to get his money back, if he buggers off tomorrow a new investor would need to be found. To date he's put his money where his mouth is and backed it with action.
Now we are in the premier league he will benefit from extra revenue from the Asian market, Cardiff city will not benefit from it but as long as we remain in the premier league VT will have his income stream in Asia. The last two caused the debt with dumb negotiations formplayers and wages.