Good article and good news.
I don't think we planned for relegation, in the sense that we wanted it, I think it was a contingency plan just in case and it has worked. Credit to the back room staff for that.
Remember, we effectively have 4 new signings already against last season. Holden, CYL, Mears and Wylde.
Even though relegation has hit us like a wall, it's good to see the club being pro-active.
I mean board room, not back room!
Yeah, our summer 'signings' are pretty much done with players returning from injury. Only a few more and I think we're ready really. Looking forward to seeing more of Vela, he has 100% got the spark a central midfielder needs.
Exactly the same player as Mark Davies. Meaning when can lose him if need be. Although I would prefer him staying.
He displayed a but more range in his passing than Mark Davies though in the few performances I've seen.. Switching the play, chipping over through balls. Seems to have that in his locker, always felt Mark Davies has been missing that, or lacking the confidence to do it.
They are steps in the right direction, but any new signings coming in will cost money, I can't remember who it was on here, but somebody showed that even free transfers involve a bit of expenditure. Plus, they'll still be getting a decent wage and, I would guess, any players promoted to the first team squad will get a pay rise.
So, big steps in the right direction, but not quite the level of savings stated.
Either way, the club have acted quickly and swiftly so far, Gartside just announced on Talksport the following also:
Wage Bill will be cut in half.
Coyle will be around for a very long time.
Debt is not a problem whatsoever.
A few bold statements indeed!
-----------------------------------------------
Bold, yes. True, well I hope so.
I do know the second statement (about Coyle) is absolutely true. So, maybe we can all accept that, not have any more Coyle-Out threads (as it just isn't going to happen), and accept he is here for the longer term. It is all about next season now.
HH - Good article, just hope what you have described turns out to be what happens
Listening to it now.
£15m overdraft with Barclays. That's the only money owed to the bank.
So our debt is £15m overdraft, which is a working overdraft we use throughout the season, which is normal.
The other £95m is 'equity', owed to ED, but not debt as its his debt. Apparently, he doesn't earn interest either. So it's £2m for him bankrolling every season, unless those circumstances have changed?
HH, I always assumed it was around 5%, so around £5m a year, a pretty good interest rate, and very little risk ....
I did aswell, but apparently, we are wrong?
According to Gartside, ED doesn't take interest on it.
You for got one small detail HH, only a tiny little one tho'.
We LOST over 26 million last year!!
Another thiong HH, no-one knows this current years financial deatails in full because it hasn't finished yet.
Our financial year runs until June 30th.
Anything can happen and usually does.
I know Bricks..but we're currently doing all the right things to sort ourselves out and become sustainable, or hopefully within the £13m FFP loss guideline next season.
That was my point, I know about are heavy spending and wages rising beyond belief, that's what's caused this mess, something Megson and Gartside deserve blame for. They got our expenditure this high and it's made our debt, or more 'equity' rise beyond belief. I get impression our debt is 'unimportant' from the Gartside interview.
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posted on 15/5/12
Good article and good news.
I don't think we planned for relegation, in the sense that we wanted it, I think it was a contingency plan just in case and it has worked. Credit to the back room staff for that.
Remember, we effectively have 4 new signings already against last season. Holden, CYL, Mears and Wylde.
Even though relegation has hit us like a wall, it's good to see the club being pro-active.
posted on 15/5/12
I mean board room, not back room!
posted on 15/5/12
Yeah, our summer 'signings' are pretty much done with players returning from injury. Only a few more and I think we're ready really. Looking forward to seeing more of Vela, he has 100% got the spark a central midfielder needs.
posted on 15/5/12
Exactly the same player as Mark Davies. Meaning when can lose him if need be. Although I would prefer him staying.
posted on 15/5/12
He displayed a but more range in his passing than Mark Davies though in the few performances I've seen.. Switching the play, chipping over through balls. Seems to have that in his locker, always felt Mark Davies has been missing that, or lacking the confidence to do it.
posted on 15/5/12
They are steps in the right direction, but any new signings coming in will cost money, I can't remember who it was on here, but somebody showed that even free transfers involve a bit of expenditure. Plus, they'll still be getting a decent wage and, I would guess, any players promoted to the first team squad will get a pay rise.
So, big steps in the right direction, but not quite the level of savings stated.
posted on 15/5/12
Either way, the club have acted quickly and swiftly so far, Gartside just announced on Talksport the following also:
Wage Bill will be cut in half.
Coyle will be around for a very long time.
Debt is not a problem whatsoever.
A few bold statements indeed!
-----------------------------------------------
Bold, yes. True, well I hope so.
I do know the second statement (about Coyle) is absolutely true. So, maybe we can all accept that, not have any more Coyle-Out threads (as it just isn't going to happen), and accept he is here for the longer term. It is all about next season now.
HH - Good article, just hope what you have described turns out to be what happens
posted on 15/5/12
Listening to it now.
£15m overdraft with Barclays. That's the only money owed to the bank.
posted on 15/5/12
So our debt is £15m overdraft, which is a working overdraft we use throughout the season, which is normal.
The other £95m is 'equity', owed to ED, but not debt as its his debt. Apparently, he doesn't earn interest either. So it's £2m for him bankrolling every season, unless those circumstances have changed?
posted on 15/5/12
HH, I always assumed it was around 5%, so around £5m a year, a pretty good interest rate, and very little risk ....
posted on 15/5/12
I did aswell, but apparently, we are wrong?
According to Gartside, ED doesn't take interest on it.
posted on 15/5/12
You for got one small detail HH, only a tiny little one tho'.
We LOST over 26 million last year!!
posted on 15/5/12
Another thiong HH, no-one knows this current years financial deatails in full because it hasn't finished yet.
Our financial year runs until June 30th.
Anything can happen and usually does.
posted on 15/5/12
I know Bricks..but we're currently doing all the right things to sort ourselves out and become sustainable, or hopefully within the £13m FFP loss guideline next season.
That was my point, I know about are heavy spending and wages rising beyond belief, that's what's caused this mess, something Megson and Gartside deserve blame for. They got our expenditure this high and it's made our debt, or more 'equity' rise beyond belief. I get impression our debt is 'unimportant' from the Gartside interview.
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