There was no "transfer debt", it was either anti-Cortese rubbish or a case of the new chairman not being aware of periodical payments for some reason.
Well, that money has gone to paying those payments off, or the large bonuses floating round..
There was no "transfer debt", it was either anti-Cortese rubbish or a case of the new chairman not being aware of periodical payments for some reason.
I think people forget how much you get for being in the Prem.
I think people forget how much you get for being in the Prem.
The reaction when the story came out was hilarious.
"We owe £27m?! What are we doing to do?!"
Uhh...probably pay it as planned.
All the money will be put back in the budget as they said they would. Doesn't mean they'll spend it all in one window, but whatever is left over will carry over to future windows.
Perhaps it was not the size of the debt that surprised Katharina & others, perhaps it was that the previous chairman told her it was less... and perhaps he wasn't reflecting it accurately in the club's accounts.
Perhaps.
All the money will be put back in the budget as they said they would. Doesn't mean they'll spend it all in one window, but whatever is left over will carry over to future windows.
Perhaps Krueger turned a non-story into a story as a way of turning people against Cortese and onto him.
Perhaps.
We are all aware of Nigel Adkins maxims, but Cortese had a few of his own. My favourite was... put away money in good times for the days when you'll need it [or words to that effect]. It's a well known phrase, but I'm glad he lived by it. This was in answer to an interview question where he was asked about how other clubs run their finances**. He thought they were idiots, for the most part. There was even the time when he was asked by the FA to look over their books to see if there were improvements that could be made. He was astonished at their incompetence.
So if he had an outstanding payment of £27M kicking around, you can bet he budgeted for it.
**If you want to look it up, it's part of an interview where he talks about relegated clubs receiving parachute payments, and how they shouldn't be rewarded for failure. Which is certainly a different way of looking at things.