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Author Topic: Tony’s Statement.  (Read 320867 times)

Offline sickbeggar

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Re: Tony’s Statement.
« Reply #600 on: June 08, 2018, 01:07:05 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.



No i think those figures included all of our  signings apart from elmo and whelan, and the loans and thelikes of Terry. If you take out all the players that have left this summer through one way or another, i'd say the wage bill has probably dropped at least another 12m.

Offline kippaxvilla2

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Re: Tony’s Statement.
« Reply #601 on: June 08, 2018, 01:18:09 PM »
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.

Well yes and no.  The £50m will stave off Administration as it will cover the shortfall in operating costs presumably for next season.  But it still doesn't necessarily mean we won't be prey to the Levies of this world.  We simply have to sell the key players that only means we look desperate.

Offline ChicagoLion

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Re: Tony’s Statement.
« Reply #602 on: June 08, 2018, 01:25:14 PM »
Cash buys time, so it looks like we will be able to negotiate better than in Admin.
But every one knows our position and we vulnerable.

Online Drummond

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Re: Tony’s Statement.
« Reply #603 on: June 08, 2018, 01:28:57 PM »
Cash buys time, so it looks like we will be able to negotiate better than in Admin.
But every one knows our position and we vulnerable.

Everyone knows we fucked up but doesn't know our position.

If the owner has found another £50m, then there's nothing that we're aware of to stop him doing it again.

Offline ChicagoLion

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Re: Tony’s Statement.
« Reply #604 on: June 08, 2018, 01:40:25 PM »
Cash buys time, so it looks like we will be able to negotiate better than in Admin.
But every one knows our position and we vulnerable.

Everyone knows we fucked up but doesn't know our position.

If the owner has found another £50m, then there's nothing that we're aware of to stop him doing it again.
We still have FFP and cash does not solve that.

Offline pauliewalnuts

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Re: Tony’s Statement.
« Reply #605 on: June 08, 2018, 01:42:38 PM »
Cash buys time, so it looks like we will be able to negotiate better than in Admin.
But every one knows our position and we vulnerable.

Everyone knows we fucked up but doesn't know our position.

If the owner has found another £50m, then there's nothing that we're aware of to stop him doing it again.
We still have FFP and cash does not solve that.

Exactly. In fact it makes it worse.

That's why we're in such a bind. Can't pay our bills, struggle to find the cash to do so, inject money into club, fall even more foul of FFP.

Online Drummond

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Re: Tony’s Statement.
« Reply #606 on: June 08, 2018, 04:06:56 PM »
It doesn't if it's a non-interest loan though does it?

Offline old man villa fan

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Re: Tony’s Statement.
« Reply #607 on: June 08, 2018, 04:18:28 PM »
I'm struggling to reconcile the position of the accounts regarding losses and our current cashflow crisis. Something doesn't stack up. Are the accounts for the season just finished going to show something massively different to what was intimated only a few months ago.

Offline Ad@m

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Re: Tony’s Statement.
« Reply #608 on: June 08, 2018, 04:34:19 PM »
I'm struggling to reconcile the position of the accounts regarding losses and our current cashflow crisis. Something doesn't stack up. Are the accounts for the season just finished going to show something massively different to what was intimated only a few months ago.

Not at all. We're running at a massive loss. Have been for years. The only reason this hadn't happened sooner is because first Randy and then Tony we're putting money in to the club  But as soon as that stopped, as appears to be the case now, the house of cards comes crashing down.

Offline ChicagoLion

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Re: Tony’s Statement.
« Reply #609 on: June 08, 2018, 04:55:52 PM »
I'm struggling to reconcile the position of the accounts regarding losses and our current cashflow crisis. Something doesn't stack up. Are the accounts for the season just finished going to show something massively different to what was intimated only a few months ago.
They are 2 separate items although making losses absorbs cash.
FFP is concerned with the trading position and it is projected that our losses would be culmitively 80 million which we need to get down to 39 million so we have got to generate 40 million of revenue or savings.
Our cash position has Ben subsidized heavily before by Lerner and now by Xia, the cash crisis is because there was not enough money around to settle creditors.
The FFP situation is still to be addressed and which is why selling a Jack for example because we will make a large profit on the deal seems extremely likely.

Offline jwarry

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Re: Tony’s Statement.
« Reply #610 on: June 08, 2018, 05:23:20 PM »
What I don’t understand is why other teams that drop out of the PL don’t get caught by FFP such as the Baggies?!? Are they just smarter with the players contracts?!?

Offline old man villa fan

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Re: Tony’s Statement.
« Reply #611 on: June 08, 2018, 05:33:14 PM »
I'm struggling to reconcile the position of the accounts regarding losses and our current cashflow crisis. Something doesn't stack up. Are the accounts for the season just finished going to show something massively different to what was intimated only a few months ago.
They are 2 separate items although making losses absorbs cash.
FFP is concerned with the trading position and it is projected that our losses would be culmitively 80 million which we need to get down to 39 million so we have got to generate 40 million of revenue or savings.
Our cash position has Ben subsidized heavily before by Lerner and now by Xia, the cash crisis is because there was not enough money around to settle creditors.
The FFP situation is still to be addressed and which is why selling a Jack for example because we will make a large profit on the deal seems extremely likely.

I wasn't talking about FFP as that is a separate item, although linked.

What I meant was the cash position seems to be far worse than the loss declared in the accounts and the projected accounts for this season just finished.

Offline davidb

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Re: Tony’s Statement.
« Reply #612 on: June 08, 2018, 05:51:04 PM »
I'm struggling to reconcile the position of the accounts regarding losses and our current cashflow crisis. Something doesn't stack up. Are the accounts for the season just finished going to show something massively different to what was intimated only a few months ago.
They are 2 separate items although making losses absorbs cash.
FFP is concerned with the trading position and it is projected that our losses would be culmitively 80 million which we need to get down to 39 million so we have got to generate 40 million of revenue or savings.
Our cash position has Ben subsidized heavily before by Lerner and now by Xia, the cash crisis is because there was not enough money around to settle creditors.
The FFP situation is still to be addressed and which is why selling a Jack for example because we will make a large profit on the deal seems extremely likely.

I wasn't talking about FFP as that is a separate item, although linked.

What I meant was the cash position seems to be far worse than the loss declared in the accounts and the projected accounts for this season just finished.
That is what really took me by surprise too. FFP is one thing, the lack of operating capital and rumours of unpaid wages is a real shock

Offline kippaxvilla2

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Re: Tony’s Statement.
« Reply #613 on: June 08, 2018, 06:08:59 PM »
What I don’t understand is why other teams that drop out of the PL don’t get caught by FFP such as the Baggies?!? Are they just smarter with the players contracts?!?

Because they still have significant parachute money coming through as it is their first year.  If, as we have done, they gamble all that money in the first two years and don't go up then they will be in exactly the same position.  We are by far the highest profile club for this to happen to since Leeds.

Offline ChicagoLion

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Re: Tony’s Statement.
« Reply #614 on: June 08, 2018, 06:11:21 PM »
What I don’t understand is why other teams that drop out of the PL don’t get caught by FFP such as the Baggies?!? Are they just smarter with the players contracts?!?

Because they still have significant parachute money coming through as it is their first year.  If, as we have done, they gamble all that money in the first two years and don't go up then they will be in exactly the same position.  We are by far the highest profile club for this to happen to since Leeds.
yo yo clubs are used to constructing player contracts accordingly.

 


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