Financial preliminary results - Debt is down dramatically

No need to go that far.

In todays economic climate NO business can trade in the black successfully. It may trade and keep its head above water, but financial success will elude it. Perhaps more so a business like a football club.

We are trying to trade in the black.

IT CANNOT BE DONE.

Debt is a necessary evil to promote success, as long as it is geared correctly and is manageable.

 

The debt was £9m 6 months ago, ~ 5 12 months ago, what difference did it make for Mowbray or Lennon?

 

None, the board was the same !

 

It can be done, every Bundesliga club has to operate debt free as a rule. So its not impossible

EDIT

Before the Glazer's takeover, Man United operated debt free for years

 

Yes...on paper as you are probably well aware.

It's amazing what you can do with figures.

Ask Peter.

 

Their top teams are operating on a massive budget
compared to us.

 

Right so, you take out £5m loan, what then? Whats the grand plan? Whats up your sleeve that nobody else has thought of? You think that amount is going to guarantee passage through european qualifiers without a hitch and win SPL titles?

 

Is this post aimed at me as I have no idea what you are talking about ?

I have mentioned nothing about a grand plan or £5m.

 

Because their league is being run right, its the best run league in the world. The SPL is one of the worst run and all clubs are suffering big time because of it. Celtic and Rangers the worst because we cant achieve UCL football at ease anymore because of their squandering.

 

Lets pick out a player we have been linked with all summer and one that could maybe make a difference to our team.
Bellamy, they want only 4 million for him....sounds great deal untill you lump his 4 million a year wages so player+wages for three years would cost us 17million.
Ok Bellamy is top of the tree when it comes to wages but 4 million for a player is these days small change to alot of clubs.
If we cut the wages in half a 4/5 million player good enough to do us some good in europe will still cost us 11 million in three years.
It could take celtic barring player sales 5 years to clear that bill.
In short we have to keep doing what we have been trying to do,slowly build a team or good unknown players.
To do other wise for just one player could put a gun to our own head.

 

So for all your talk, you have nothing, zilch, nada.

So all you have is that the board should increase the debt and then you are bunched after that.

 

So EVERY successful business in the world is in debt....???

 

Maybe not Apple and Microsoft.

Most others trade in the red. They will show profit each tax tear but that profit will go to the bank to repay the money loaned to them up front.

Constantly trading in debt.

Fact.

 

You are missing the point here.

If we have no money how can we improve without increasing debt ?

If your house is too small and you build an extension you go to the bank for the money.

O.K it increases your debt but you need the extension, what else do you do.

 

How on earth can you state that EVERY ONE OF THEM....ooops sorry apart from microsoft and apple are in debt....FACT.
This is one of your better statements i must say.:bbpd:

 

Can you tell me of any others ?

The workings of business and commerce in todays economic climate dictate that a viable business, though showing a year end proft, is trading in debt.

 

Ah but you forget all the bigger houses in your street will sell before yours does so spending all that cash does you no good.
You would be better moving house and trying somewhere else.

 

But here is the difference.....I dont know all the business in the worlds debts or bank bal so i cant make daft statements:icon_mrgreen:.

 

Have you tried selling a house these days ?

You are better off extending. Putting value on your property for the time when the market re-emerges..(a long time)

Loan = Bank
Bank = Debt increase.
Debt increase = improved property or team squad.

Simples.

 

Ah,

But have you worked for HMRC ?