What's going on?
- Thread starter bocadillo
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Real Sharapova
Well-Known Member
Oops! My mistake - we have a hire purchase liability on the stadium, the repayments on which depend on which league we are in. At 31st May 2005 we owed £15,796,000 regarding the stadium. The stadium was valued at £18,289,000. We also had bank borrowings of £400,000. As far as I am aware, we are servicing those liabilities in line with the contractual liabilities we entered in to. As for a restructuring, I would have thought the club would keep its options fully open to try to get new finance, or reduce the cost of existing finance. It will be interesting to see what the accounts to 31st May 2006 reveal.Chrysalis said:
Chrysalis
Active Member
yes, ignore their league position that is not as a result of financial status but instead on field factors.
If they didnt have their chairman investing the level he has been doing for the last few years they would be in a lot of bother financially and have a much weaker squad as a result.
If they didnt have their chairman investing the level he has been doing for the last few years they would be in a lot of bother financially and have a much weaker squad as a result.
Melton Fox
Dancing Queen
Surley thats the whole point of football. This is what determines your income. Full Fookin' Stop. It can't be ignored. If this is all the investor can achieve, it needs another investorChrysalis said:
Chrysalis said:
This is all rubbish, his investment in the team is pathetic, don't forget that they have sold well over £10 million worth of talent over the last couple of seasons and spent about £2/3 million. Furthermore they have let others who were out of contract leave without a fight.
Their chairman famously commented a couple of seasons ago, having just missed out on the play-offs the last time we went up, that he would only invest in the team if they were in the play-off positions when they were about eigth. That same season they just avoided relegation and subsequently dropped the year after, when a million or so may have got them promoted.
If we had sold as much talent as they have and spent so little, you would have slughtered all associated with the club, and rightly so.
webmaster
Moderator
1966 said:
I don't think he's better off, he's been putting money into the club, not taking it out. When he took over they had huge debts, much of it as a result of the spending on players when Platt was in charge - he was their version of t*yl*r, spending seven figures on players like Matrecano and Petrachi.
Doughty has also continued to pay good money to players, their wage bill is by far the highest in their division, and they've been able to sign players this season that most clubs in our league couldn't afford. Megson was the highest paid manager outside the Premiership.
Chrysalis
Active Member
Lboro fox said:
Thanks for pointing that out, the only time he didnt invest is the season after those play offs and I believe he now regrets not backing hart. Since then his manager's have failed to perform he cant really be blamed for that other then poor manager recruitment abilities.
If you think his financial contributions are poor put ourselves in league one look at their expenditure and ask yourselves would we have spent the same. They were some 3 or 4 mill in the red each year in this league and should have been selling players to cover it instead he was covering it out his pocket.
Chrysalis
Active Member
1966 said:
Yeah took 3 bids to get andy reid away from forest. Not like he snatched at first shot, and the money was used for debts and some player fees after that. If he pocketed it, it would only be to replace what he already spent.
You guys are just looking at transfer fee expenditure and not what he has been putting in to balance the books.
Yes football is about league position but if we cant balance the books and have no sugar daddy we then become a crewe by selling players each year to be in the black and this in turn weakens the league position.
webmaster
Moderator
An article from a couple of years ago that says Doughty had put £19 million into f*r*st: http://newsco.co.uk/productsandservices/archive/mbi/2004-01/markarthur
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