Didn't realise until reading the local press what a parlous financial state Swansea are in.Still paying out lots of inflated transfer fees from the premiership years. Apparently got a £30 million black hole to fill even taking account of parachute payments. Suspect that was one of the reasons Potter chose to leave.
Swansea are a basket case, who many of their fans think could go bust for a third time - despite them harping on for years how they’re the “model” club that everyone should follow. The fact that they’ve recently appointed Trevor Birch as chairman should ring alarm bells with even the most blinkered fan. His first action was to give every staff member, except then manager Graham Potter, his back room staff and the first team squad, redundancy letters. In fact, they wouldn’t be here now if their ex-Manager John Hollins hadn’t slept in without setting his alarm before the creditors meeting in 2004. He was a major shareholder as part of the deal to get him to manage them, and has admitted he was going to vote against the 5p in the £ they eventually paid to creditors as part of the CVA. If he’d have voted against, then they’d have been liquidated. “Owned by the fans & run by the fans” they trumpeted. Until the lure of hard cash came calling and they sold out that is. Their chairman & superfan Huw Jenkins cashed in and their own trust members also caved. They’re now owned by a 28-member American hedge fund - and they all take a generous slice of the cake. Front men Steve Kaplan & Jason Levien promised the earth and they fell for it. They were going to take them to the next level apparently, investing in the squad and expanding the stadium. In reality, they’ve spent next to nothing (may actually be nothing?) and can’t develop the stadium as is not theirs - they rent from the local authority who built it for them and the Ospreys rugby franchise. Initially when they went to the Prem, they were paying sensible wages. But they believed their own hype and genuinely thought they were established as one of the big boys - and started to recruit accordingly. Wages Sky-rocketed with players like Ashley Williams, who had previously been around the £7k/week mark suddenly earning in excess of £100k. Wilfred Bony is still on £120k/week, although he’s just been released. They still have a huge squad with the likes of the Ayew brothers on £80k/week with 3 years left to run on their contracts. When Brighton expressed an interest, Graham Potter wanted assurances from the board before he committed to Swansea. Clearly he didn’t get them and left. Players are being hawked around by agents in a desperate attempt to get cash in - Dan James, Ollie McBurnie, Connor Roberts etc. will all have suitors. They won’t get any sympathy from me after the way they were gloating during our Ridsdale period - but it’s still sad to see a club unravelling.
It's been going bad for a few years but you are correct the American have made a mess......a right mess. There's no Jenkins (x chairman) to sort it either. They have sacked staff left right and centre and a lot of the new people haven't a clue.
They’ve announced today that they’re even closing the City centre shop this weekend. Trevor Birch cutting right back. Swansea fans despise Jenkins now btw.
Stendel now 3rd favourite for the job there suddenly jumped from nowhere, wonder if someone’s seen it on here and put a £5 on
Keiffer Mamadou Cauley Jacob & Ollie McBurnie That'd do for strikers... We should put a cheeky bid in, if they're that strapped...
