Deeper in debt

[Boy Genius]

But the percentage of turnover spent on wages has apparently gone down according to the statement

they could have misquoted figures?......

 

[Jeff]

But the percentage of turnover spent on wages has apparently gone down according to the statement

But as I said earlier, I think it's more likely the quote about wages was based on last year and the previous one, rather than the current financial year.

 

[spionfox]

But the percentage of turnover spent on wages has apparently gone down according to the statement

But as I said earlier, I think it's more likely the quote about wages was based on last year and the previous one, rather than the current financial year.

But the real question should be, is it OK to start a sentence with the word 'but'?

 

[Jeff]

But the real question should be, is it OK to start a sentence with the word 'but'?

I think it's OK. But others may disagree.

 

[Foxes_Trust]

Remember the club's financial year ends 31st May each year.

So "published" figures refer to 31st May 2007 & not this season at all, not even the N'Gotty signing will be included, so for this years figures it's all wages/pay offs/agent fees for anybody signed from N'Gotty onwards, including MA2 and coaching team.

MM's initial £4.5m investment (as per the terms of the takeover document) had to be done by 31st May 2007, so that suggests the £5m loss includes £4.5m put in by MM, that requires verifying though, so we will subsequently confirm

 

[Dour]

Remember the club's financial year ends 31st May each year.

So "published" figures refer to 31st May 2007 & not this season at all, not even the N'Gotty signing will be included, so for this years figures it's all wages/pay offs/agent fees for anybody signed from N'Gotty onwards, including MA2 and coaching team.

MM's initial £4.5m investment (as per the terms of the takeover document) had to be done by 31st May 2007, so that suggests the £5m loss includes £4.5m put in by MM, that requires verifying though, so we will subsequently confirm

The £4.5 million put in shouldn't figure in the loss.

 

[OldGit]

The £4.5 million put in shouldn't figure in the loss.

Why not? Once invested they are exactly the same as any other pounds from any other source.

 

[Boy Genius]

What is the fascination with this debt. You can talk about it until you are red in the face, but nothing will change. I wopuld have thought MM would know what he is doing.


MM is a very successful business man, why do most posters on here think otherwise and that they could do better?

 

[Biffa Bacon]

What is the fascination with this debt. You can talk about it until you are red in the face, but nothing will change. I wopuld have thought MM would know what he is doing.


MM is a very successful business man, why do most posters on here think otherwise and that they could do better?

The interest in the debt at City is obviously generated because we have been run into admin once and don't want to go there again.

Milan is a reasonably successful business man (mainly got very lucky or clever when selling his californian electronics business) but he's hardly a multi billionnaire and he's getting on a bit.

I'd prefer to see city running as a proper business and generating profit as it's the only way to get longterm stability in business.

 

[Dour]

Why not? Once invested they are exactly the same as any other pounds from any other source.

The loss is presumably from the profit and loss account and equity introduced won't appear in that figure.

 

[Boy Genius]

The interest in the debt at City is obviously generated because we have been run into admin once and don't want to go there again.

Milan is a reasonably successful business man (mainly got very lucky or clever when selling his californian electronics business) but he's hardly a multi billionnaire and he's getting on a bit.

I'd prefer to see city running as a proper business and generating profit as it's the only way to get longterm stability in business.

Not many clubs run at a profit do they?

And as for the getting lucky or being clever. I think at that level of business luck does not come into it.

 

[Redditch Fox]

Not many clubs run at a profit do they?

And as for the getting lucky or being clever. I think at that level of business luck does not come into it.

Exactly. Football is not a normal business situation.

Look at Chelsea as well as the likes of Bournmouth. If Leicester City was run on "normal" business lines, we would probably in in League 1 or League 2 already. Instead, we have someone who is prepared to sanction a gamble to spend money in excess of generated income in the hope of an even higher profile and the club's value rising on the back of vastly increased Sky income in the premiership.

We were lucky to get MM - a relatively wealthy person who seems to need the ego trip of running a reasonably high profile football club.

Before MM took over, the club was dying a slow death...... it's just a shame that so much money has been wasted on rubbish, unmotivated players and third rate managers.

 

[Disco Bob]

We were lucky to get MM - a relatively wealthy person who seems to need the ego trip of running a reasonably high profile football club.

Before MM took over, the club was dying a slow death...... it's just a shame that so much money has been wasted on rubbish, unmotivated players and third rate managers.

Been working as MM's PR-guru long? :icon_wink

I guess if you are willing to make your Faustian pact with the Serb-American devil then fair play to you. I don't see him coming here as 'lucky' in the slightest.

 

[homer]

Been working as MM's PR-guru long? :icon_wink

I guess if you are willing to make your Faustian pact with the Serb-American devil then fair play to you. I don't see him coming here as 'lucky' in the slightest.

Ah, but you know the old saying

Better the Serb-American devil you know.....

 

[Biffa Bacon]

Not many clubs run at a profit do they?

And as for the getting lucky or being clever. I think at that level of business luck does not come into it.

No not many clubs do run at a profit but plenty run a much healthier defecit than us and are higher up the league ladder.

I know plenty of lucky major business peopl, you just need to be at the right place and the right time (just look at the values of companies which sold in the internet boom and have now crashed), plenty of high tech startups and spin outs make a fortune for the original directors and then go on to be worthless.

 

[Brown Nose]

What is the fascination with this debt. You can talk about it until you are red in the face, but nothing will change. I wopuld have thought MM would know what he is doing.

MM is a very successful business man, why do most posters on here think otherwise and that they could do better?

What a ridiculous statement.

As someone already mentioned, debt previously took this club to the brink of extinction. The club's debt is now growing at alarming rates that are comparable to those days. To be disinterested in this is to be totally confident in MM's abililty to manage the debt. That is extreme optimism.

Last season, MM said that if the club went down they faced administration. The finances are far worse now than then. Also, if you take a look back over MM's business history, he has on a number of occasions gone bust or had company's that go bust. The key thing with MM is the fact that he is not successful enough to be immune from failure. He is not rich enough to throw good money after bad, if you understand what I mean.

Personally, he has very limited liability for the debt within the club. It would cost him to put the club into administration but it would a heck of a lot cheaper than trying to get it out of it's current spiralling debt.

MM is gambling, largely with other people's money, that we get into the Premier League in the next couple of years. If we don't, he will get out at minimum cost to him and let the club sink. If we do, he will sell on for a fat profit.

How can that not be of interest to all supporters' of the club?

 

[Boy Genius]

What a ridiculous statement.

As someone already mentioned, debt previously took this club to the brink of extinction. The club's debt is now growing at alarming rates that are comparable to those days. To be disinterested in this is to be totally confident in MM's abililty to manage the debt. That is extreme optimism.

Last season, MM said that if the club went down they faced administration. The finances are far worse now than then. Also, if you take a look back over MM's business history, he has on a number of occasions gone bust or had company's that go bust. The key thing with MM is the fact that he is not successful enough to be immune from failure. He is not rich enough to throw good money after bad, if you understand what I mean.

Personally, he has very limited liability for the debt within the club. It would cost him to put the club into administration but it would a heck of a lot cheaper than trying to get it out of it's current spiralling debt.

MM is gambling, largely with other people's money, that we get into the Premier League in the next couple of years. If we don't, he will get out at minimum cost to him and let the club sink. If we do, he will sell on for a fat profit.

How can that not be of interest to all supporters' of the club?

I still don't give a flying fcuk, the cnuts when they went into admin last time took me for a lot of money. If they are in debt now tough, if they go out of business tough. Its not the end of the world is it?

 

[Brown Nose]

I still don't give a flying fcuk, the cnuts when they went into admin last time took me for a lot of money. If they are in debt now tough, if they go out of business tough. Its not the end of the world is it?

Now you've nailed your colours firmly to the mast, I can see where you're coming from.

There was me thinking you were sailing into the iceburg slurping your brandy and smoking your cigar when in actual fact you are already in the lifeboat.

Fair play to you. Move over.

 

[Boy Genius]

Now you've nailed your colours firmly to the mast, I can see where you're coming from.

There was me thinking you were sailing into the iceburg slurping your brandy and smoking your cigar when in actual fact you are already in the lifeboat.

Fair play to you. Move over.

don't drink brandy and I don't smoke.

 

[TommyK]

I still don't give a flying fcuk, the cnuts when they went into admin last time took me for a lot of money. If they are in debt now tough, if they go out of business tough. Its not the end of the world is it?

Maybe not the end of the world, but i for one would be completely gutted if we went out of business. I care to much for the club to take such a flippant view on the matter.