Debt

[RP]

What actually happened to the huge £80million debt we had on Monday? By Tuesday it had shrunk to what, £45million???

 

How does that work then?

 

 

Journalists - bunch of lazy c***s (largely).

[Swagger]

Journalists - bunch of lazy c***s (largely).

 

All it takes is for one to get his facts wrong, then the other lazy idiots treat them as fact.

[RP]

Mihir Bose.

 

Let's blame him.

[Stevie H]

mihir bose is a trouble-causing sh*tehouse. getting right on my t*** now he is with his 'connected' act. i don't believe for a bloody minute he knows anybody at high levels within football.

[Swagger]

mihir bose is a trouble-causing sh*tehouse. getting right on my t*** now he is with his 'connected' act. i don't believe for a bloody minute he knows anybody at high levels within football.

 

[oakie bob]

Anny Road and Wayne paid back there pie bill

[Guest Cardie]

Journo's were still quoting 80 million as of yesterday despite the figure being available in the offer.

[Maldini]

I assume most of the £44.5m was debt due to paid off this year too, so it's not real debt if you know what I mean.

[RP]

Are you suggesting our debt figure was far smaller than the newspapers have been reporting?

 

What is the world coming to?

 

If any of them could be bothered to do their research, rather than just plagiarise from one source, then the newspapers might be worth reading.

 

Makes me laugh at people who post threads worrying about what the newspapers will call us or what they will say if/when we win the League. Who gives a f***?

[Cunny]

but still larger than the £17m claimed in the accounts

[Maldini]

but still larger than the £17m claimed in the accounts

that's my point though, I reckon it wasn't. It seems more likely that £15-20m of it is long term debt and the rest is like an overdraft

[RP]

but still larger than the £17m claimed in the accounts

 

 

The figure wasn't "claimed" in the accounts, it was "stated" as the correct figure as of the financial year-end. It is not doubted.

 

But the season ticket/advance payment for games not yet played immediately inflates our debt situation by probably £20million.

[KD07]

As it stands now, I have more debt than Liverpool FC.

[RP]

As it stands now, I have more debt than Liverpool FC.

 

I doubt it.

 

More than £45 million???

[KD07]

Mihir told me.

[_00_deathscar]

Mihir told me.

 

 

 

I doubt it.

 

More than £45 million???

 

He did say 'as it stands'...aren't we no longer in debt?

[boohog]

What actually happened to the huge £80million debt we had on Monday? By Tuesday it had shrunk to what, £45million???

 

How does that work then?

Journalists - bunch of lazy c***s (largely).

 

Well, since the £80m wasn't correct as per our year end its a moot point.

 

The £80m number came from spin started by Morgan. He quoted our total creditors figure of £100m as our debt. Someone in the media then thought they would be clever and net off the debtors of £21m to give a net debt of £80m.

 

This of course is total b******s. Net creditors is not net debt. The main reason for why this simplification is naive is that whilst most businesses have debtors which largely offset their creditors, football clubs do not because of the way they operate.

 

A good example would be we have a £19.5m deferred income creditor. All this means is that we have received £19.5m in advance of providing services. What are those services - letting season ticket holders into the ground next season. So it is not a cash cost.

 

He did say 'as it stands'...aren't we no longer in debt?

 

No, we have to wait for shareholder approval before anything happens before the transaction completes. As it stands we are in the same position as we were a week ago.

[Lee W]

 

Makes me laugh at people who post threads worrying about what the newspapers will call us or what they will say if/when we win the League. Who gives a f***?

 

Not just if/when we win the League but in general.

 

I wondered about that debt figure. Guess it works the same as "war-chests" of transfer-budgets. Mostly sensationlist bull. The only two people worth reading these days in the papers (football-wise) are James Lawton and Dominic Fifield. The rest are either clueless or have sold-out.

[Kopfaithful]

according to an article i read yesterday (i think in the independant), they are clearing 45m debt and the rest is to be refinanced and hidden in the stadium costs! considering that doesn't seem to have been mentioned anywhere else, i think it's a classic case of papers talking a*** to cover up the fact they've previously talked a***.

[nb]

That debt will decrease as the season runs along. the £80 mill was probably correct at the start of the season. The supporters pay their season tickets in august, but the delivery of "the product" (the home games) will happen from August - May. Therefore the club will have a decreasing debt all the way to May when the customers have got what they paid for.

[mrjunk]

in the mirror today, it's 80mil on teh back page and only 48mil two pages in.

 

great editing.

[RP]

By the time you get to the front page, we'll be richer than Chelsea.

[DanielS]

By the time you get to the front page, we'll be richer than Chelsea.

 

Culturally, historically and socially, we are.

 

Can we pay for Kaka in culturals?

Edited February 8, 2007 by DanielS

[mrjunk]

haha, no, but he accepts $s

[Lee W]

 

Can we pay for Kaka in culturals?

 

Apparently so.

 

I heard Milan wanted 50m Euro's worth of corner flags and programmes.