Couple of insights from Turkish side: There wasn't any cash available in club accounts (reason is not mentioned, you are free to speculate) so they had to transfer from Acun Medya accounts, but not from Turkey - where they were easily transferring before. My guess is, they opted to transfer from Dominicans, where Acun's most expensive show is currently running and probably more tax friendly. The reason it became a big issue was mentioned as Acun remembered Ribery-Galatasaray incident where Ribery left due to late payment without any fee to Olympic Marseille and he was afraid that he can face same. Source was Instagram video post close to Fenerbahce opposition, so not trustworthy as Athletic.
I don’t know enough about this kind of thing, but I thought it was the loans owned to Acun Medya which are being used to fund the weekly £500,000 operating deficit rather than player signings and wages that are the issue?
They are probably paying whatever in accounts and remaining amount is transferred from Acun Medya which kind of fits narrative that smaller wages for club staff paid earlier and they need to wait for larger sum from overseas for players. I think main question is: How long we can afford to do this, is it sustainable at all?
Actually, to be fair to Howden Tiger and his info, this wasn't a clerical error or a payment clerk's oversight, which explains most late payment of salaries, it was explained that there wasn't money in the account...and for a company worth £X million with a turnover of £X million and a guaranteed income of £X million to not have a credit line (or have maxed out their credit line) with the bank to pay salaries, it's a bit odd...
If you merge with Turkish insight I provided, actually it is a bit both. Probably we have guaranteed income paid in installments too, so every month certain cash enters club accounts, but it is not enough to cover operating costs so they loan from AcunMedya, which fits Kieran Maguire's claims about weekly 500K plus money flow from owner to cover operating costs, dated back in last December. So some kind of clerical error, probably due to change of country in money origin revealed us how we are walking on thin ice, which we already know actually.
Turkish banks are terrible, I can pay a factory and the money goes out my account immediately, but then they hang on to it and don't actually credit the factory's account for up to two weeks.
85m people in Turkey. What are the chances that the one that turns up on here knows the balance of the club’s bank account?
Happens all the time to the self employed. Worked some days for **** all and its actually cost me money to go to work. Its life I'm afraid.
And inevitably it won't be the Coyles and Slaters who play every week and get slammed for every mistake who are on the higher end, it's gonna be the more recent signings who are supposedly much better but can't actually hold down a place in the team that earn the big bucks. Even though it's a hypothetical that could be wrong that thought winds me up a bit.
Ye I know, but this isn't a builder who can't pay his labourer until a customer pays up, it's a large company with multimillion capital involvement. Just odd that the senior accountant dealing with payments didn't, or couldn't, ask for a credit line for a few days or so, with the UK bank paying the salaries, instead delaying the payments, it being made public and embarrassing the club at a critical time. I don't see an issue with it being discussed, any more than it was a discussable issue when Assem Allam got a serious illness, the financial issues during the entire Allam ownership or the personality issues. The players don't read here and are going to be far more affected by a later than expected payment from their employer than they are it being discussed by the public online. The club ****ed up before an important game by not having their admin in order, not those debating it.
Maybe I didn’t explain my thought clearly. The EFL might say we’re fine from a transfer fee and wage point of view because of the investment by Acun, but that investment might be misleading because it’s loans and not his own money. Similar to if I want buy a car with a loan I’ve taken out. As far as the dealership is concerned I have the cash to pay for the car, but in reality it’s all debt I might not be able to afford. Like I said, I don’t know enough about this kind of stuff.
