Record Losses....

[Greg N'Ash]

I think you'd be a fool not to lay the blame partly at Lerners door, but by the same token just because the manager left two years ago doesn't mean the decisions he made aren't still affecting the club and will continue to affect the club. Such a complete foul up was made of the finances that its taken two years to stop the Titanic dead in the water, and probably another two to turn it away from the iceberg.

My reasoning is yes, Lerner shouldn't have allowed MON to spend so much, but then you have to ask why? Either Lerner is a complete fuckwit with money, has no concept of profit and loss, and just gave MON money willy-nilly, OR he was made promises on what the spending would achieve and when. as soon as it became obvious that the CL target wasn't going to be met he reigned in the spending and MON walked. I'd say the latter is more likely.

I'd say that Lerner shouldn't have allowed Faulkner to sign the cheques and agree contracts with agents on O'Neills behalf, and a more qualified person be put in charge of such negotiations.

O'Neill shouldn't have chosen Beye and Heskey as his targets, regardless who was agreeing the contracts.

I beleive it is Faulkner who has saddled the club with the big contracts, not O'Neill.

Although, it's easier to beleive it was O'Neill, as the way he left left a bitter taste.

thing is, at the time faulkner was promoted he was seen as very much MON's yes man and he was in a subordinate role before hand so frankly unless he was asked to by Lerner he wouldn't have questioned who MON signed or what they were paid. You only have to look at MON's public utterances at the time to see that he at least, thought he was in total control as regards what would be paid for players. The final say must have been Lerners for those expensive contracts, but whether they were on the proviso that MON got us in the CL, or rather that Lerner was infected with the same devotional "Martin knows best" hysteria that enveloped this place at the time, i guess we'll never know.

[Simon Ward]

According to the notes to the accounts looks like Randy put another £10million in to the club in December 2011!

And the loan notes repayment schedule looks horrendous even on the few bits of info disclosed in the accounts!

[Rudy Can't Fail]

Some journo has tweeted that the accounts say "the directors have recieved confirmation that the owner  intends to support the group for at least one year" the group being Reform Aquisitions Ltd I think? Is that industry speak? Or is that an admission that he is looking to sell in a year?

Industry speak only!

Exactly. Due to the poor state of our accounts, I think the auditors have to get a confirmation that although we are technically insolvent, the owner will cover the debts. My concern is how we'll ever manage to pay off the debt.

[richardhubbard]

Interest burden is huge on our debtts

[itbrvilla]

So what will this mean for us say over the next 5-10 years?  Are we in danger of going tits up?

[Tokyo Sexwhale]

The danger would be if we got into a situation where Lerner didn't want to continue taking heavy losses.  He could sell Villa to the first Carsten Yeung/Craig Whyte/Gaydamak that showed up, who could then asset strip us, sell the stadium/training grounds and leave us potless.

That's if Lerner hasn't already separated the club from the property assets. 

[itbrvilla]

Do we're in a big mess then?

[Rudy Can't Fail]

So what will this mean for us say over the next 5-10 years?  Are we in danger of going tits up?

I can't see us having too much to spend, if anything, come the summer and with nobody left to sell of any real value, it's going to be a very tough few years.

[Chico Hamilton III]

Would it be fair to compare our situation with Everton's?

Except that they've got a better ginger weegie in charge

[Rip Van We Go Again]

So what will this mean for us say over the next 5-10 years?  Are we in danger of going tits up?

There is a great danger of us doing a Sheffield Wednesday.

[richardhubbard]

Well if we can one selling best players , we are going to asset strip.

Depends on Lerner approach, if he is prepared to keep funding losses then , we may be ok.

If get relegated, we still have debt burden and reduced revenues and cashflows.He may lose interest and the out come could be a doom day scenario would be adminstration.

Don't for anyone reason think this does not happen. I worked for 3 business to either during my time or I joined after they had an issue and if you cannot cover your debt burden , the banks will pull support and adminstration is a formality if so.


The auditors signed those accounts with a statement on them that Lerner will support the debt over next 12 months. Nothing unusual BUT without that it we would not trade.

[SashasGrandad]

At least we have published our accounts - Small Heath and Coventry have been stopped signing new players as they haven't filed theirs.

Things have gone very quiet over there - no news about Wishy Washy from the depths of Hong Kong's under class.

[Rudy Can't Fail]

At least we have published our accounts - Small Heath and Coventry have been stopped signing new players as they haven't filed theirs.

Things have gone very quiet over there - no news about Wishy Washy from the depths of Hong Kong's under class.

No news is good news - if you're a Villa fan.

[SashasGrandad]

At least we have published our accounts - Small Heath and Coventry have been stopped signing new players as they haven't filed theirs.

Things have gone very quiet over there - no news about Wishy Washy from the depths of Hong Kong's under class.

No news is good news - if you're a Villa fan.

I was hoping they'ed go into administration and lose 10 pts.

[VILLA MOLE]

At least we have published our accounts - Small Heath and Coventry have been stopped signing new players as they haven't filed theirs.

Things have gone very quiet over there - no news about Wishy Washy from the depths of Hong Kong's under class.

No news is good news - if you're a Villa fan.

I was hoping they'ed go into administration and lose 10 pts.

to be honest if they go into admin lose 10 points and not come up,  they will still be happier than us because they believe in their coach and believe in what he is doing it  makes hell of a difference to a club