[Official Site] MATTY WOLFE SIGNS NEW DEAL

Excellent news, though like others have said, it's a shame we can only get him to commit to 2 years. Completely understand why. I wouldn't expect anyone with quality and ambition to sign a long term deal with a team getting relegated unless it had clauses galore in it.

Hopefully we can keep him in the summer and he can show more of the promise we've witnessed from a handful of games so far.

 

Only if we offer him a contract first.

 

Pretty sure that Conway (at the beginning of the season before he went into hiding) had said he’d been offered a deal. Whether that’s still on the table I don’t know.

Despite all the flak he’s getting on here, I think he’d be a decent option to play alongside Wolfe, effectively replacing Gomes in league 1. But only if he gets his fitness to a level where he can regularly play 90 mins.

 

I'm very confident it was £2.2m. I'm not saying you're wrong, but stuff like that I tend to have a really good memory of.

I wasn't there, but did hear a recording of it, so it might still be around somewhere, or certainly a thread about it at the least.

 

I thought Patrick said 2.2 but I’ve been to bed since then.

 

Please no. Far too lightweight and lazy for me.

 

You sure about that one ?. Stones joined city at the beginning of the 2016/17 season a whole 18 months (Dec 2017) before the new owners bought the club off Patrick.

 

That’s not correct. Everton paid £2.3m. BFC handled the sale very well. Had JS gone under the terms of EPPP the club would have received £3k for every year at the club. He came to the club at 9 and left at 18. So under EPPP we would have got £27k.

 

I think you're right. Even if he had come through our academy wouldn't we have to offer him a new contract on at least what he's on now to get compo, so releasing him we wouldn't get any or if because we wanted compo but didn't want him to accept we purposely low balled his new contract offer knowing he wouldn't accept.

 

Anyway I'm glad we're running with the Wolfe.

 

Absolutely.

The May 2017 accounts show a £12+m profit on player sales which includes the £9m Stones money. The cash position from those accounts to the 2018 ones (under ConLee ownership) have a constant cash position of just over £5.5m. Prior to the stones transaction, cash was just £500k.

It's a very fair stance to highlight the Stones money benefitted the cash position of the club and that it was inherited by new owners in December 2017.

 

I'm no expert in the financial goings on at BFC. Are you in effect saying. I believe they paid Patrick £6m ( but can't find evidence to back it up) for the losses he suffered during his tenure. ( reports at the time suggested an 80% stake at the time would cost between £10m-£20m) But inherited the Stones money. Genuine question as that's how I remember the sale to best of my knowledge
Or did Patrick take the Stones money as payback for other losses at the time and player investment.

 

In the accounts of 2017, there is an injection of share capital of I think £6.8m, which is essentially Patrick writing off that amount of loans and converting them to equity, and strengthening the balance sheet.

There are suggestions he's been paid back for other loans, but I can't point you to that.

But from the £12m of profit on player sales that largely hit the bottom line to show as profit, there was £5.5m in cash left over that was retained all the way until ConLee acquired the club, and still showing in the accounts of May 2018. That figure has been dwindling each year.

 

Incredible news.

He's still very raw, but with the right coaching and management, he'll look like Pirlo in league 1.

 

Can't grumble at this, his attitude and qualities have been a breath of fresh air. Needs to kick on now and get up to maximum fitness and stay clear of any further major injuries. Hope we get a couple of new signings in centre midfield including one with experience to help bring him along.

I'm critical on other fronts but credit where credit is due for this and the Alumni initiative from me.

 

I'd like to see Kane return, Benson loaned out and a new midfielder brought in, probably on loan.