Who will be next...

[pork pie fox]

In an ideal world sanity would prevail and footballers would be paid *appropriately* or at least on a performance related pay basis as part of their standard T&C of employment.

Until that time players such as Ben Marshall will continue to drive a Bentley.

I'd be genuinely happier if City were being run according to their means. If that meant that we struggled then so be it. Football clubs spend more they can afford to and a sugar daddy who is just covering cash flow in the form of loans against the club, in my opinion, is unacceptable. At least in the long term the club would be secure, something that many clubs (including our own) probably aren't. Eventually things will catch up with football and I'd rather City were run soundly and achieved success through good management, rather than spending money they cant afford.

 

[bocadillo]

I'd be genuinely happier if City were being run according to their means. If that meant that we struggled then so be it.

Hurrah!

 

[RHYDAL]

I'd be genuinely happier if City were being run according to their means. If that meant that we struggled then so be it.

Struggled? In what way?

 

[homer]

Struggled? In what way?

Floundering away in the Championship for season after season, after season - perhaps even dropping down a division once in a while



Oh, hold on a minute.......

 

[Jeff]

Struggled? In what way?

Players having to settle for a Mercedes instead of a Bentley.

 

[Fox From The Hudd]

He knows Konchesky's agent.

Twit....

 

[Blue Maniac]

Twit....

:icon_lol:

 

[The Walrus]

I'd be genuinely happier if City were being run according to their means. If that meant that we struggled then so be it. Football clubs spend more they can afford to and a sugar daddy who is just covering cash flow in the form of loans against the club, in my opinion, is unacceptable. At least in the long term the club would be secure, something that many clubs (including our own) probably aren't. Eventually things will catch up with football and I'd rather City were run soundly and achieved success through good management, rather than spending money they cant afford.

This is the real issue. Well put.

Our debt is quite simply unsustainable and there is a very real possibility that before too long the issue won't be a managerial one, but one of LCFC's continued existence.

 

[pork pie fox]

This is the real issue. Well put.

Our debt is quite simply unsustainable and there is a very real possibility that before too long the issue won't be a managerial one, but one of LCFC's continued existence.

I don't think we're the only ones though. Not by a long stretch.

 

[pork pie fox]

Struggled? In what way?

Do I need to answer this properly? I've been drinking now so probably best I leave it til tomorrow.

However, you're a good poster Rhydal, so I suspect you know the answer really.

 

[Brown Nose]

I don't think we're the only ones though. Not by a long stretch.

I can't think of any other non-established Premier League club in debt to the tune of £100m*.

* this being the figure so far loaned by the owners at an 8% interest rate.

 

[Matt_B]

I can't think of any other non-established Premier League club in debt to the tune of £100m*.

* this being the figure so far loaned by the owners at an 8% interest rate.

I'd imagine Cardiff and Leeds are close and give Watford a season or two and they will be.

 

[Kingy_85]

Gone yet?

 

[homer]

Gone yet?

I went about an hour ago



Unfortunately, I didn't get out of bed until half an hour ago :icon_conf

 

[Hazzman]

I can't think of any other non-established Premier League club in debt to the tune of £100m*.

* this being the figure so far loaned by the owners at an 8% interest rate.

Cardiff are. That is fact. Tan is loaning money at 7.5%

 

[Lako42]

Am I missing something here?

How does the amount of other clubs also destined to go to the wall make any difference to us?

 

[pork pie fox]

Am I missing something here?

How does the amount of other clubs also destined to go to the wall make any difference to us?

It doesn't. Neither does the amount of debt. The ability to service the debt is a different matter though.

 

[pork pie fox]

I can't think of any other non-established Premier League club in debt to the tune of £100m*.

* this being the figure so far loaned by the owners at an 8% interest rate.

I posted earlier in this thread that this is the part that I find unacceptable BN. If owners choose to spend money above and beyond the income generated by the club then fine, but I believe they should have to do this with equity, and they should not be able to do it in the form of a loan against the club.

 

[Foxes_Trust]

Brown Nose said - I can't think of any other non-established Premier League club in debt to the tune of £100m*.
* this being the figure so far loaned by the owners at an 8% interest rate.

"pork pie fox" - I posted earlier in this thread that this is the part that I find unacceptable BN. If owners choose to spend money above and beyond the income generated by the club then fine, but I believe they should have to do this with equity, and they should not be able to do it in the form of a loan against the club.

For information - the latest loan the owners made has a 6% interest rate (detailed in the latest set of published accounts, but don't have them in front of me currently to state figure). The accounts also detail how much interest was paid during 2011/12 season - will detail this tonight

The club stated when releasing those accounts that they had an intention to convert loans to equity, but we don't know if that is all of the loans or some of them. We have requested a meeting with the Finance Director to go through the accounts, obviously that would be one area to clarify, along with their plans to achieve FFP targets for the 2013/14 season.

 

[spionfox]

For information - the latest loan the owners made has a 6% interest rate.

The club should have used GoCompare, much better rates than that surely!