Doesn't this mean that despite the mantra for the last five years being "live within our means", we haven't been? (An observation, not a criticism.)
All I can say is what a shower of s h I t these owners have been. They make Risdale and Doyle look like Alan Sugar and James Dyson. I don't think anyone of them have a clue what they are doing .
The last four years of accounts have laid waste to that statement. As @Gally said, I’ve been banging on about the state of our finances for a few years now. The model was always based on unearthing or nurturing talent and making a substantial profit on the sale of players. This has not transpired due to lots of factors and as a result we are in a financial pickle. The need to cut costs and inject further funds is required simply to keep the club afloat this season.
They have been carrying on doing what the Crynes were doing pre consortium but without ...... putting any dough in every year so here we are. Why 3.2 million ? seems a odd figure it seems to be about the exact amount of money the consortium(supposedly @ court case) owe to buy the club. is it a way round for all or part of the consortium to pay or consolidate that debt off. or just a coincidence and a big stretch on my part
The owners have done what they said they would do and put their money where their mouths are. Which is exactly what some on here have been banging on about.
Presumably the £3.2m will be input as a loan; do we know what the interest/repayment terms will be on that?
This £6m cost of relegation, that was the projected loss of earnings the last time we were relegated to this division. It's probably more than that now. The gulf between the divisions has widened financially. On top of that, we're in the middle of an energy crisis. My energy bills have quadrupled in the last year alone, I imagine the club has experienced something similar.
Not interested. Next summer will be the acid test of their credentials if we don't gain promotion. I'd be a sadist if I wanted to see what happens if we don't go up. However, Duff might save our bacon the way things are going on the pitch has been highly impressive. It's refreshing to know that they are injection funds to keep their investment ticking over. That said, if that's the modus operandi why couldn't they have stretched a bit further and signed a striker?
The funds have to be put in or we would be up poo creek without a paddle . These new board members are as culpable as the last . They knew what was going on and they kept quiet.
I actually think it is some serious solutions we need , its the future what counts & hopefully lessons learnt from what appears to be a financially disastrous period we have and are going through .
Bang on. Some of the knee jerk stuff is just scaremongering. Even comments like summat fishy going on. Yes the figures are startling but not overly surprising. Patrick was stumping up 100k pm. When things were tight. Money transfers are not paid up front entirely for example. Cashflow will be the biggest obstacle at the mo in my view.
Things are looking good on the pitch. When we get those three points on a Saturday afternoon I'm not thinking about bank balances. What will be, will be.
All this financial stuff is fine but what was the Shambles like , the last time I was in there was the night of our promotion to Premier League
Id say yes. But for me conway has ****** us massively. Giving the worst manager in my life time a 3 year deal on whatever a week and were still paying it off so was they never a fee agreed to get shut in the contract? Were still paying for loan players so the "experienced" oulare on a rumoured 9k a week on a 3 year deal = 1.4 million over 3 years... then iseka? The mind boggles People the other day were saying we have backed duff i said to the best of our ability but were skint this proves my point.
Don't think I'll bother going to the game tomorrow. There's no point as we won't be here by Christmas. We're dooooooooooooooooooooooooooooooomed FFS I'm certain better qualified people than the majority of doom and gloom merchants on here are aware of our situation and are doing their utmost to ensure the future of OUR club. Let's do our bit and support the lads on the pitch and let the powers that be take care of the rest! COYR
I missed that detail thanks @Archerfield. So are they actually putting money in their pockets do we think, or have they taken out another loan to pay off the existing loan, and the loan repayments will be paid by the club in due course?
