Something's got to be done to stop the rot in football. We are seeing (at first hand) the impact of disproportionately allocated TV money, the Bosman Ruling and the Taylor report. How long can this go on? Is it going to take clubs to go bust before the whole thing is rederessed? I think every club that has gone down from the premier and not bounced straight back, no matter how well run, has gone into administration; or looks set to.
That £8m loss would have been after receiving a £10m parachute payment as well.
Debts are now around £32m.
How did we ever get to this ?
"all of us on the board would admit that we have made mistakes particularly in relation to the period following the departure of Alan Curbishley.........the simple truth is that vast sums of money were spent on players who have proved not to be succesful and on whom
in many cases we have had to take significant losses"
I believe the £32million debit is based on the last 3 years declared losess. In the last year ofthe premiership they lost £11million, the first year of championsip it was I believe £13 million and now £8 million. but we where making losses in most of are years in the premiership , so the debits must be higher.
[cite]Posted By: Goonerhater[/cite]worst is the item 14 (page 17)
14 Creditors:amounts falling due within one year
total is £ 11.5 million
Do we know who these creditors are?
I would guess that some of it will be a proportion of the remaining mortgage on the Covered End with the remainder shown in creditors due in more than 1 year along with the loans to directors.
Just guessing though as I'm not a shareholder and thus have not had sight of these figures.
Comments
Would it really be neccesary to print the word "Skint" in colour though?
Does it say when this was ?
Just says that
"at 30th June the group had unsecured interest free loan of £503,000 repayable in instalments by 1 April 2012 from the football league"
Debts are now around £32m.
How did we ever get to this ?
"all of us on the board would admit that we have made mistakes particularly in relation to the period following the departure of Alan Curbishley.........the simple truth is that vast sums of money were spent on players who have proved not to be succesful and on whom
in many cases we have had to take significant losses"
L O V L
We did when we were flush.
How did you get to that? I've only scanned the report but can't see an overall debt figure.
14 Creditors:amounts falling due within one year
total is £ 11.5 million
One Mrs Toilet
There's only one Toilet...
Not seen one yet the accounts have been sent out in the post.
Do we know who these creditors are?
I would guess that some of it will be a proportion of the remaining mortgage on the Covered End with the remainder shown in creditors due in more than 1 year along with the loans to directors.
Just guessing though as I'm not a shareholder and thus have not had sight of these figures.
Might be a refund!
Good day to bury bad news or is reading CL making me cynical : - )