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Author Topic: Tony’s Statement.  (Read 320913 times)

Offline cheltenhamlion

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Re: Tony’s Statement.
« Reply #585 on: June 08, 2018, 08:49:05 AM »
The house looks secure for the next six months if that is correct. It still means offloading a bunch of players though. And that is before FFP rears its head again (although obviously the bigger game of remaining solvent has taken precedence this week).

Offline garyshawsknee

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Re: Tony’s Statement.
« Reply #586 on: June 08, 2018, 09:04:51 AM »
I guess this means we can't afford to sack SB as we couldn't pay him off and pay compensation for a new manager.

Offline sickbeggar

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Re: Tony’s Statement.
« Reply #587 on: June 08, 2018, 09:12:44 AM »
i'm really not sure how long 50m is going to last. We lost 14.5m in the last accounts, that presumably including Tony's regular sub from china and the 33m parachute payment. So 18m would have to make up the shortfall in that for a start which leaves 32m. then take off the transfer fees owed and you're probably looking at limping towards September before it went tits-up again.. You'd hope the wage bill will have come down a million or so this month but we have other bills i'm guessing like paying for the pitch. Massive player firesale is the only way he's gonna do it unless he has a buyer.

Offline aj2k77

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Re: Tony’s Statement.
« Reply #588 on: June 08, 2018, 09:45:38 AM »
Scrambling around organising loans and staggering payments and selling off debts, it's fucking shambles.Tony is broke. The bloke is a fraud.

Offline olaftab

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Re: Tony’s Statement.
« Reply #589 on: June 08, 2018, 10:03:23 AM »
i'm really not sure how long 50m is going to last. We lost 14.5m in the last accounts, that presumably including Tony's regular sub from china and the 33m parachute payment. So 18m would have to make up the shortfall in that for a start which leaves 32m. then take off the transfer fees owed and you're probably looking at limping towards September before it went tits-up again.. You'd hope the wage bill will have come down a million or so this month but we have other bills i'm guessing like paying for the pitch. Massive player firesale is the only way he's gonna do it unless he has a buyer.
Well don’t forget revenue starts up again in August.

Offline Drummond

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Re: Tony’s Statement.
« Reply #590 on: June 08, 2018, 10:07:22 AM »
Scrambling around organising loans and staggering payments and selling off debts, it's fucking shambles.Tony is broke. The bloke is a fraud.

The last two sentences you've no idea about but the first is right!

Offline avfcpg

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Re: Tony’s Statement.
« Reply #591 on: June 08, 2018, 10:14:17 AM »
Well regardless of where it came from (read somewhere it could be as much as £65 million), and whether it's good or bad long term, he seems to have got it and that's one crisis staved off, for the moment anyway.
Now he has to address how to get £170 million in 2018/19...sort a manager out, hold onto the key players and get us playing decent, winning football again. His asset will look a lot better sitting at the top of the league and heading for the "promised land". 

Offline chrisw1

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Re: Tony’s Statement.
« Reply #592 on: June 08, 2018, 10:17:25 AM »
Personally I am not convinced that the notoriously hard nosed businessman that is Daniel Levy has suddenly turned into Father Christmas and is about to give us fifty million quid in cash up front for Jack Grealish. Which is how the media are making it sound. If anything our very public situation is a green light for people to take the piss with low offers for any of our players hoping we are desperate enough to accept.
This was my worry.  But the £50m injection may be a way of stalling the vultures and saying no fire sale, we want full value for our players.

Offline sickbeggar

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Re: Tony’s Statement.
« Reply #593 on: June 08, 2018, 10:40:52 AM »
i'm really not sure how long 50m is going to last. We lost 14.5m in the last accounts, that presumably including Tony's regular sub from china and the 33m parachute payment. So 18m would have to make up the shortfall in that for a start which leaves 32m. then take off the transfer fees owed and you're probably looking at limping towards September before it went tits-up again.. You'd hope the wage bill will have come down a million or so this month but we have other bills i'm guessing like paying for the pitch. Massive player firesale is the only way he's gonna do it unless he has a buyer.
Well don’t forget revenue starts up again in August.

Well yeah its an admittedly simplistic view. My point is that there is the temptation to think of £50m taking us forward from now, when the reality is probably 20m of that is going straight out on existing debts. If you're not paying HMRC on time then you can bet there's a few less nasty creditors they've put off. Again being simplistic,  if you add the missing funds from the parachute payments then add that to the loss last season, you're looking at 32 million so possibly 2.6m loss a month. But that figure doesn't include what tony put in so maybe 5m a loss a month? So what's that, 5 months  leeway if we have 30m left?

On the plus side, as you say we have match day revenue, maybe payments from sponsership due, TV money etc... to cover immediate bills. Also the wages bill should be a good 1m a month less so maybe 4m a month to find?
« Last Edit: June 08, 2018, 10:42:53 AM by sickbeggar »

Offline Drummond

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Re: Tony’s Statement.
« Reply #594 on: June 08, 2018, 10:48:31 AM »
If there is £50m additional funding in place, we're fine.

Offline cumbriavilla

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Re: Tony’s Statement.
« Reply #595 on: June 08, 2018, 10:56:01 AM »
Scrambling around organising loans and staggering payments and selling off debts, it's fucking shambles.Tony is broke. The bloke is a fraud.

For someone who's net worth is £900million he seems unable to come up with the cash. If its all tied up and not liquid then he may as well be as poor as the rest of us.

Offline sickbeggar

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Re: Tony’s Statement.
« Reply #596 on: June 08, 2018, 12:47:18 PM »
The really unfortunate thing in all this is we were within a year of finally getting a grip on the financial side. Whatever you think of the owners latest fuckup, whether he hasn't got the money, has got it but can't use it etc., he's made more headway in tackling the costs than Lerner managed in 5 years. I mean the wage bill dropped by 30m last accounts. Even with player contracts ending and the players relegation clauses kicking in, that was a staggering amount to save - about 20 well paid first team players i reckon
« Last Edit: June 08, 2018, 12:54:25 PM by sickbeggar »

Offline Matt Collins

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Re: Tony’s Statement.
« Reply #597 on: June 08, 2018, 12:57:09 PM »
But wasn't that primarily because Tom Fox did the obvious thing and negotiated relegation triggered wage reductions? (Though I was still surprised about the scale of reductions given some of the wages we seem to be paying)

Offline Risso

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Re: Tony’s Statement.
« Reply #598 on: June 08, 2018, 01:00:00 PM »
The really unfortunate thing in all this is we were within a year of finally getting a grip on the financial side.

There's little point in reducing it one year, to then go on such a spending spree the year after that you almost cripple the club for good.

Offline sickbeggar

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Re: Tony’s Statement.
« Reply #599 on: June 08, 2018, 01:04:03 PM »
But wasn't that primarily because Tom Fox did the obvious thing and negotiated relegation triggered wage reductions? (Though I was still surprised about the scale of reductions given some of the wages we seem to be paying)


my guess is some of the newer contracts when we started looking nervously over our shoulders at relegation but certainly not across the board. And of course how much was their salaries reduced by? I doubt it was 50%

 


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