The Debt.
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The Debt.
Its getting considerably larger!
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Re: The Debt.
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Re: The Debt.
How the feck has Burnden Leisure lost £50.7m?
"I've got the ball now. It's a bit worn, but I've got it"
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Re: The Debt.
With Parachute Yr2 being pissed against a wall by Mr DF and this we are looking at the abyss.
We're domed. Utterly domed.
We're domed. Utterly domed.
Not advocating mass-murder as an entirely positive experience, of course, but it had its moments.
"I understand you are a very good footballer" ... "I try".
"I understand you are a very good footballer" ... "I try".
Re: The Debt.
It cost us 2.3 million to get shut of Coyle and bring in Freedman according to Iles. Don't think that is mentioned in the article.
Re: The Debt.
There is definitely a clear out on the way then.
No wonder Gartside is giving the impression he has lost interest.
No wonder Gartside is giving the impression he has lost interest.
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Re: The Debt.
It cost us a fckg site more by keeping him !!ChrisC wrote:It cost us 2.3 million to get shut of Coyle and bring in Freedman according to Iles. Don't think that is mentioned in the article.
Not advocating mass-murder as an entirely positive experience, of course, but it had its moments.
"I understand you are a very good footballer" ... "I try".
"I understand you are a very good footballer" ... "I try".
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Re: The Debt.
Interesting that the slashing of the wage bill, under the previous manager, which was often cited for the plight he was in, didn't actually occur. But seems to be occurring now.
This also shows why some of the alleged Premiership level squad needed moving on.
This also shows why some of the alleged Premiership level squad needed moving on.
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Re: The Debt.
There's statistics, lies and Burnden stories. Good job they haven't got a brewery.
Don't try to be a great man. Just be a man and let history make up its own mind.
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Re: The Debt.
Speaking of which, is there anything particular you're rather obliquely referring to?:-)Gravedigger wrote:There's statistics, lies and Burnden stories. Good job they haven't got a brewery.
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Re: The Debt.
I'd love to know how much money Eddie Davies has actually put into the club and how much has been added on in interest and the like.
We're doomed though right? Eddie won't give us any more money, no one will pay him £150m for a low-championship club and we'll never have enough money to pay it off...
We're doomed though right? Eddie won't give us any more money, no one will pay him £150m for a low-championship club and we'll never have enough money to pay it off...
Re: The Debt.
Does anyone know what other championships clubs' wage bills are? There's been a lot of argument on here about resources, some saying we have one of the highest wage bills, others that we can't compete with the big spenders. I can't find a proper comparison, but from what I have seen in 2012 only West Ham in this division had a bill higher than our current reduced level of £32.7million.
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Re: The Debt.
Not as much revenue coming in for him to cream off now. Robbing bastardjaffka wrote:There is definitely a clear out on the way then.
No wonder Gartside is giving the impression he has lost interest.
"I've got the ball now. It's a bit worn, but I've got it"
Re: The Debt.
Actually I just do not believe the debt figure, anything can be manipulated, If true though I would not let Gartside near a model railway or subuteo (or whatever) he's a total liability.
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Re: The Debt.
Anything can be manipulated, but these are the club's accounts. If they're manipulated, it'll be to make them look as good as possible I'd have thought.Hoboh wrote:Actually I just do not believe the debt figure, anything can be manipulated, If true though I would not let Gartside near a model railway or subuteo (or whatever) he's a total liability.
This is a big reality check. How we got £160m in debt I don't know, but with Gartside's quote about us no longer being a Premier League team but a Championship one, I sense a change in the rhetoric.
With E Davies, we have always been able to justify the debt - but usually based on the fact that we could get back up to the big league. If that's no longer the case, we're in for some years of famine I suspect. I just hope the fans remember the years of feast, and keep showing up for games. A near 30% drop in attendances is perhaps to be expected when you stop playing Arsenal and start playing Doncaster, but still; it hits the tiller as well as the atmosphere pretty hard.
Worrying news. Let's hope Dougie gets his mojo back, because I don't think he's going anywhere in the short term, and another relegation might be a step too far. For the record, I don't think relegation is on the cards this year - but it will take a clever manager to build a team for next season if there's nothing to spend.
Formerly known as Meg'sEleven. And Owen'sEleven. And Dougie'sEleven. We're getting through them aren't we...
Re: The Debt.
Those figures are frightening!! We're losing £140,000 each and every day and have a wageroll of 125% of turnover. (To turn a profit it should be about 60% of turnover. )
Remember, these are the figures for 2012-13, and 2013-14 results are likely to be similar as many of the high earners are still on the wageroll this year. That would take the debt to over £200,000,000.
Expect a mass clearout in the summer when contracts are due to expire. (Although given the drop in the parachute payments in year 3 in the Championship, revenue is going to reduce by several million too.)
The most worrying aspect for me is that I cant see any way out of this mess in the foreseeable future. We're so far off making a surplus that the debt is going to keep going up and up.
Remember, these are the figures for 2012-13, and 2013-14 results are likely to be similar as many of the high earners are still on the wageroll this year. That would take the debt to over £200,000,000.
Expect a mass clearout in the summer when contracts are due to expire. (Although given the drop in the parachute payments in year 3 in the Championship, revenue is going to reduce by several million too.)
The most worrying aspect for me is that I cant see any way out of this mess in the foreseeable future. We're so far off making a surplus that the debt is going to keep going up and up.
Who's that coming up the hill boys,
The Wanderers are coming up the hill boys,
They all laugh at us, they all mock at us,
They all say our days are numbered,
Born to be a Wanderer, victorious are we....
The Wanderers are coming up the hill boys,
They all laugh at us, they all mock at us,
They all say our days are numbered,
Born to be a Wanderer, victorious are we....
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Re: The Debt.
Not to mention the "management" that increases as a percentage when the debt goes up. So the more debt we get, the higher our fee to Davies
The cynic in me might actually feel that the 2 top boys are merely using our club as a cash cow now and only have a self-interest...
The cynic in me might actually feel that the 2 top boys are merely using our club as a cash cow now and only have a self-interest...
"I've got the ball now. It's a bit worn, but I've got it"
Re: The Debt.
It was always going to look horrible when you half the revenue overnight of a company which made a £22m loss on revenue of £58m.
Interestingly in the 'subsequent events' section, it says we have spent £7.3m on player acquisitions and received £0.5m in
I don't understand this at all when Spearing and Hall add up to about £2m. Perhaps the rest refers to old transfers we're paying off, but then wouldn't they also be reflected in the liabilities for this year so already count? I'm no accountant.
On Phil Gartside watch he has gone from £858k total remuneration (inc. benefits, pensions etc) in the Premier League to £408k last season.
Interestingly in the 'subsequent events' section, it says we have spent £7.3m on player acquisitions and received £0.5m in
I don't understand this at all when Spearing and Hall add up to about £2m. Perhaps the rest refers to old transfers we're paying off, but then wouldn't they also be reflected in the liabilities for this year so already count? I'm no accountant.
On Phil Gartside watch he has gone from £858k total remuneration (inc. benefits, pensions etc) in the Premier League to £408k last season.
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Re: The Debt.
My first thought were:
I think you'd be right. There's practically no way of clearing such a huge debt in any easy way.
And it would piss me off less if I didn't have Gartside's hubristic "we've cracked this staying in the Premier League malarky" statement a couple of years back.
Nobody with solely the clubs interests at heart would allow our position to become so parlous, unless they were prepared to just write the whole lot off.
Then my second thought was:
Next Leeds or Portsmouth.
I think you'd be right. There's practically no way of clearing such a huge debt in any easy way.
And it would piss me off less if I didn't have Gartside's hubristic "we've cracked this staying in the Premier League malarky" statement a couple of years back.
Nobody with solely the clubs interests at heart would allow our position to become so parlous, unless they were prepared to just write the whole lot off.
Then my second thought was:
Next Leeds or Portsmouth.
You can judge the whole world on the sparkle that you think it lacks.
Yes, you can stare into the abyss, but it's staring right back.
Yes, you can stare into the abyss, but it's staring right back.
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Re: The Debt.
Do agents fee's come under player acquisitions?
"I've got the ball now. It's a bit worn, but I've got it"
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