wanderlust wrote:I’m surprised FV have maintained a semblance of stability so far given that Covid must have thrown a spanner in the works and forced adjustments to the original rebuilding plans. Maybe they’re betting the farm on promotion and/or making huge personal sacrifices given that they can’t be turning a profit under the present circumstances, bless ‘em.
I’d guess they need to use the money where it’s needed and I doubt that would be giving a contract to a 17 yo who isn’t ready to perform right now.
We can only surmise in the absence of published info and even if they file returns I’d tend to be sceptical about reading too much into them.
Well coming from a Business Consultant who famously told us from the reading of the clubs accounts that the former owner was financially raping the club and selling off assets and missing completely that we had outstanding creditors to be paid of £186m (falling due in a year or more time) and the club had no assets that hadn't already been secured against and the business was all but insolvent - and from that rabid, utterly wrong and wildly inaccurate stance of yours on this matter to go on to berate and abuse me on a more or less daily basis for the next three years or more for stating what the actual position of the club was and hence why things were happening as they were - then thankfully we don't have to rely on your understanding (or rather lack of it) and 'scepticism' of the clubs future audited accounts.
I've no idea what FV's business plan ever has been but clearly to break even they have to recover their costs from buying the club and the ongoing running costs until they reach such a point and they can't do that without making a profit somewhere down the line and that can't be done in football terms alone unless they win promotion to the Premier League or sell a few players for big money.
Seeing we had hardly any players when FV bought the club and had to cast our net in the pool of players no other clubs wanted (and generally had to do the same this season to) then that didn't seem to be the plan and buying the club from Administration knowing we would be in a lower division the following year with a 12 point penalty and player embargo clearly meant getting to the PL in say three to four years was a bit of a longshot at best and one I personally discounted.
The only financial plan idea I heard that made some sense to me was that the car parks were to be built on to provide significantly further accommodation for the hotel (and that was why the purchase of the hotel with the club was so crucial to the overall deal).
This may well have been all poppycock but try as I might I could never find a better suggested reason for buying the club and once FV did complete the purchase and the 'digger's' didn't move in to start work on the car parks, it was quickly quite obvious that the hotel expansion clearly wasn't the master plan either.
As for the article I started the thread with, the point I was making was that in football terms we are talking pennies in respect of 17 year old's contracts - all clubs will have similar youth schemes - so if we really are having to look closely at not being able to afford keeping clearly a player coveted by bigger clubs then money must really be very tight indeed.
Which if it is the case (it of course may not be) means we seem to already be in some serious financial difficulties if we are already looking at such small amounts as savings to keeping the club solvent.