More borrowing

[Jeff]

The club has borrowed more money from MacQuarie.
This time it's secured against the fee we haven't received yet from the Maddison transfer.
We're due £13.3 million next summer, and the same in 2025. We've probably received a similar amount already, to make the £40 million fee.

Norwich are due £800,000 from each payment, which confirms that the sell on was a percentage of the profit we made from him.

 

[pork pie fox]

Norwich are due £800,000 from each payment, which confirms that the sell on was a percentage of the profit we made from him.

I've always said this was the most likely scenario. Reports of it being a percentage of the full transfer fee always seemed a bit ridiculous.

 

[Jeff]

I've always said this was the most likely scenario.

I think bn was the only one who didn't.

 

[pork pie fox]

I think bn was the only one who didn't.

He seemed to be suggesting it was being reported that way though, so presumably it was being said elsewhere too.

 

[Jeff]

He seemed to be suggesting it was being reported that way though, so presumably it was being said elsewhere too.

There were reports of both.
The regular Norwich City reporter from their local paper said it was a percentage of the profit.

But we're getting away from the real issue here. We're still borrowing money. It might be low risk, because it's money we're getting anyway, but we're still obviously spending way too much.

 

[pork pie fox]

There were reports of both.
The regular Norwich City reporter from their local paper said it was a percentage of the profit.

But we're getting away from the real issue here. We're still borrowing money. It might be low risk, because it's money we're getting anyway, but we're still obviously spending way too much.

Yes fair point. We do seem to like this MacQuarie money and I’m not sure I’m comfortable with the principle of it.

 

[Lako42]

As a modern football fan you can't have principals

 

[City Fan]

As a modern football fan you can't have principals

How about head teachers?

 

[Jeff]

Yes fair point. We do seem to like this MacQuarie money and I’m not sure I’m comfortable with the principle of it.

It's like maxing out your credit card every month. It's ok while you have the income to pay it off. But when that stops you're ****ed.

 

[pork pie fox]

It's like maxing out your credit card every month. It's ok while you have the income to pay it off. But when that stops you're ****ed.

Yep and that’s a risk given where we are.

 

[SilverFox]

It ****s me off that someone buys our player and we have to borrow money to ****ing finance it.

 

[fitz]

It ****s me off that someone buys our player and we have to borrow money to ****ing finance it.

If we'd insisted on a bag of £5 notes we might not have got the deal. As long as the interest isn't mental then can't see the problem personally. Our borrowing in general could be open to scrutiny but getting cash earlier might not be too bad a thing.

 

[Jeff]

It ****s me off that someone buys our player and we have to borrow money to ****ing finance it.

It's normal to pay a transfer fee over several payments like this. We'll have done the same thing with players we've signed.

We've borrowed money in previous years secured on the TV money due in future years.
So the parachute payment relegated teams get has already been spent. And we're still probably making transfer fee payments for some of the players that got us relegated.

If don't go back up in the next couple of years, and we don't have players like Barnes and Maddison to sell, we've got big problems.

 

[SilverFox]

If we'd insisted on a bag of £5 notes we might not have got the deal. As long as the interest isn't mental then can't see the problem personally. Our borrowing in general could be open to scrutiny but getting cash earlier might not be too bad a thing.

I just think they want the asset, they should do the borrowing.

 

[fitz]

I just think they want the asset, they should do the borrowing.

They owe a debt to us. Not too different really and we've probably got a higher price by agreeing to their payment terms.

 

[Brown Nose]

If don't go back up in the next couple of years, and we don't have players like Barnes and Maddison to sell, we've got big problems.

I agree, except that I wouldn't be confident that we could survive another season in the Championship.

Unlike the summer just gone, I don't see players we could sell for good money next summer in the squad. Without that, how on earth do we make it all add up?

 

[Miles Away]

I agree, except that I wouldn't be confident that we could survive another season in the Championship.

Unlike the summer just gone, I don't see players we could sell for good money next summer in the squad. Without that, how on earth do we make it all add up?

There are, what, another 11 players out of contract next summer?

 

[Brown Nose]

There are, what, another 11 players out of contract next summer?

Yeah, but it's this season that will cripple us for next season if we don't go up. We're operating so far above what's affordable. The only way to balance books in the scenario of not going up is to sell players before the accounting period ends.

 

[Singapore Fox]

I agree, except that I wouldn't be confident that we could survive another season in the Championship.

Unlike the summer just gone, I don't see players we could sell for good money next summer in the squad. Without that, how on earth do we make it all add up?

Agree it’s worrying. I think we’d survive, just not be competitive. Whilst I’m all for giving EM the support needed to rebuild, comments around ‘longer term projects’ worry me. We have to bounce back this season, at all costs, even if that means sacrificing playing principles if circumstances warrant it.

 

[M17TT C]

It really is all in on promotion this year.

No promotion this season and we will be in serious trouble.