Home
wanderlust wrote:TBH I don't know what KA has done so far as regards financing the club, what he's done with the assets, who he's doing business with and what our current debt levels and commitments etc are. Are you suggesting that you know - because obviously you'd have to have a good understanding of these things before you could actually decide where we're at. If so, share it with us so we can all judge how it's actually going for ourselves.
Well you CAN tell things without actually being 'in the know'.
For example we've brought in more experienced players in the window than we let out - they need paying - and I would imagine that would be at a greater cost than if we simply kept our youngsters and brought no one in at the window.
This was all sanctioned under the FL embargo - so clearly they've seen the figures - and that not only can we pay the new players but also the rest of the squad (some still on Premier wages remember).
That must also mean that they are happy that we have the funds to do so for the rest of the season as well.
We also DIDN'T sell or get shut of any of better players such as Spearing, Vela, or Clough - so there doesn't seem to be an urgent need to do so - so if that is the case we don't seem to be in dire financial straights, otherwise we would have got money in for sales and/or got shut of some of the high wage players.
I would also hazard a guess that if the FL is keeping a close eye on our finances that we are probably not owing any outstanding money to Her Majesty's Revenues and Customs.
Wages are being paid both for players and staff at the club - which again suggests that cash flow is not currently a problem - which in turn suggests that there as been appropriate financial planning in advance - which again suggests that we are not winging it or having fire sales to cope.
There is also staff retention - people like the manager aren't walking out because the financial position is hopeless - he can't be on the large wages paid to the likes of Lennon or Freedman that were given under the Gartside stewardship of the club - thus less to lose by walking out if the position really was untenable.
Blumarble hasn't called in its loan, so they must be being paid.
Wages at the club were widely accepted to be around £1 million per month for this season - and with revenue mainly coming from Season Ticket and match day sales (no Sky monies anymore) - for those to be paid Anderson MUST be investing in the club personally because the £2 million from the sale of Holding plus gate receipts could not possibly fund the ongoing payment of wages and loan repayments.
Yes others could have loaned money to the club but I doubt any normal lenders such as the banks would have deemed it a good risk and the 'pay day loan' type company's would have wanted some sort of charge on assets such as Blumarble have - and there are no records of any such charges being taken on as per Company House records on the club.
Assets may have been sold but it was my understanding at the time that Eddie Davies left a debt of some millions of pounds on the books (I can't remember now was it something like £15 million or so?) to prevent such asset striping taking place without his approval.
All in all I have no knowledge of the clubs financial position personally but reading between the lines as best I can, it would seem to me that Anderson has personally stuck his millions into the club and seems to be going about it the right way to turn us around and send us in the right direction since Coyle relegated us.
