McCabe & Prince to meet - Heads To Be Banged Together

[derfblade.3]

They met on Monday or Tuesday.....sorted.


https://www.thestar.co.uk/sport/foo...-co-owners-meet-for-top-level-talks-1-9169771

 

[Patrick Suffaux]

Your a bundle of joy arnt you ! We had a chequered 2nd half to the season but where you get the struggle from I don't know.
It's obvious we need to strengthen and Wilder has said as much stand still and you go backwards.His plea to the owners was as much from a fan not just an employee.
His job ( building the club ) has only just begun and without the right backing of the owners he knows we would go backwards
the last thing he wants for his club and his career.

I’m a very cheerful person actually. I’m also a very honest one that says things as I see them.

Have a look through the last 28 league games and tell me how many games we won. It’s something like 8 (although I haven’t looked for a few games). If that isn’t struggling I don’t know what is. It’s blinkered to believe otherwise.

Hopefully Chris is getting a decent budget in the summer, we may struggle again if he doesn’t.

 

[broomhillblade]

They met on Monday or Tuesday.....sorted.


https://www.thestar.co.uk/sport/foo...-co-owners-meet-for-top-level-talks-1-9169771

It doesn't say that anything has been sorted - only that they met.

 

[Darthblade]

That's very good of you to spend these people's money for them.

McCabe took over in 2000 when we were losing around £1m a year. Despite a doubling of attendances and massive increase in commercial income, costs (i.e. player wages) have increased by significantly more. Our recent losses have been in the £5-8m per year range.

Whatever KM thought was the level of financial support required back then, has now masively increased. This is why he has to bring someone else in to share the burden (which has now gone tits up as we know).

To glibly declare that 'fans see it as a pre-requisite' doesn't really help matters for someone like KM who stepped forward when the club was in crisis and has maintained support for many years. I know he owns all the assets and I know he charges interest on his loans, but the bloke didn't have to put anything in. The fact he is now 'not rich enough' is a convenient stick with which to beat him and I see precious little thanks for what he's done in just keeping SUFC alive and kicking for nearly 20 years.

The classic "it's his job" springs to mind......

I'm not spending his money for him mate ....... I'm simply pointing out that hardly any clubs make a profit and therefore owners should not be expecting to get a return on their "investment".

In the same way as I have "invested" in the Club for the last 53 years ( my resources are much humbler than McCabes or the Princes) and I have only received the pleasure that I have taken in watching the games and wearing the shirts etc. ...... no return on my "investment".

If I had £10M, I would buy a place on the Board with £1m of it but I wouldn't expect my money back ....... I would anticipate that it was "gone" ....... hopefully used to improve the first team squad.

UTB & FTP

 

[Maidenhead]

I'm not spending his money for him mate ....... I'm simply pointing out that hardly any clubs make a profit and therefore owners should not be expecting to get a return on their "investment".

In the same way as I have "invested" in the Club for the last 53 years ( my resources are much humbler than McCabes or the Princes) and I have only received the pleasure that I have taken in watching the games and wearing the shirts etc. ...... no return on my "investment".

If I had £10M, I would buy a place on the Board with £1m of it but I wouldn't expect my money back ....... I would anticipate that it was "gone" ....... hopefully used to improve the first team squad.

UTB & FTP

McCabe has "invested" a lot more than the 10% of his assets that you would be willing to risk.

Out of interest what would you do with your other £9m?

 

[Ainsley Harriott]

Anyone who thinks they can make money from owning a football club should be declared not fit and proper.

As the poster above says - our losses are now £5/6/7m a year compared to the £1m way back when. Things have changed. He hasn’t.

 

[coolhandluke]

I'm not spending his money for him mate ....... I'm simply pointing out that hardly any clubs make a profit and therefore owners should not be expecting to get a return on their "investment".

In the same way as I have "invested" in the Club for the last 53 years ( my resources are much humbler than McCabes or the Princes) and I have only received the pleasure that I have taken in watching the games and wearing the shirts etc. ...... no return on my "investment".

If I had £10M, I would buy a place on the Board with £1m of it but I wouldn't expect my money back ....... I would anticipate that it was "gone" ....... hopefully used to improve the first team squad.

UTB & FTP

It's not a ' one off ' £1 million in though is it . Try committing to £1 million every year that you're sat on the Board of Directors . Add that to the fact that you'll also be on the board of directors for 18 years minimum . All of a sudden it doesnt look a very good move does it ?

 

[Maidenhead]

Anyone who thinks they can make money from owning a football club should be declared not fit and proper.

As the poster above says - our losses are now £5/6/7m a year compared to the £1m way back when. Things have changed. He hasn’t.

You are like a stuck record.

He doesn't have that kind of money.

You find him someone that has and he would have sold yesterday if they had the best interests of the club at heart.

 

[Darthblade]

McCabe has "invested" a lot more than the 10% of his assets that you would be willing to risk.

Out of interest what would you do with your other £9m?

I'm simply using a figure as an example but I believe that the underlying principle is sound ......... you do not invest in a football club if you want to make money ........ unless you're as stupid as a pig

And I would retire with the rest of the money

UTB & FTP

 

[coolhandluke]

Anyone who thinks they can make money from owning a football club should be declared not fit and proper.

As the poster above says - our losses are now £5/6/7m a year compared to the £1m way back when. Things have changed. He hasn’t.

That's why he's been looking to get out for the last 5 years .

 

[Maidenhead]

I'm simply using a figure as an example but I believe that the underlying principle is sound ......... you do not invest in a football club if you want to make money ........ unless you're as stupid as a pig

And I would retire with the rest of the money

UTB & FTP

Im sure he didn't invest to make money

His problem is that he's spent too much and he's running out of money.

 

[Darthblade]

It's not a ' one off ' £1 million in though is it . Try committing to £1 million every year that you're sat on the Board of Directors . Add that to the fact that you'll also be on the board of directors for 18 years minimum . All of a sudden it doesnt look a very good move does it ?

But he did it of his own free will ....... nobody forced him to invest ...... and to be fair, whilst not indulging in McCabe bashing ...... he has brought a significant amount of the losses on himself with a series of bad, ill-considered decisions eg Robson

UTB & FTP

 

[Maidenhead]

But he did it of his own free will ....... nobody forced him to invest ...... and to be fair, whilst not indulging in McCabe bashing ...... he has brought a significant amount of the losses on himself with a series of bad, ill-considered decisions eg Robson

UTB & FTP

But he was dead lucky with Wilder

 

[coolhandluke]

But he did it of his own free will ....... nobody forced him to invest ...... and to be fair, whilst not indulging in McCabe bashing ...... he has brought a significant amount of the losses on himself with a series of bad, ill-considered decisions eg Robson

UTB & FTP

Not one person has insisted he became chairman against his will . And no one has suggested he was forced to invest either . As for ' paying for his mistakes ' he did, many times over . What about whilst Wilders here, shouldnt he be basking in the glory whilst at the same time not putting a penny in ? Or better still milking the club for all its worth ? Surely that would qualify as a ' return on his investment ' wouldn't it ? But no, he's still pumping money in . Not only has he been shelling money out left right and centre to ensure we don't go belly up, the grounds the best it's ever been, he's ensured the cost of admission remains affordable, the Academy is one of the very best in the country AND he's doubled our average home attendances . And let's be honest here, would you have hung around for so long ? Seriously ?

I suppose he could have done a Chansiri and raped us,the punters, whilst telling us it was only fair and right that we should match his outlay . Or what about he does a Dave Allen and basically fucks us over by insisting the Club needs to pay it's way ?

 

[Ainsley Harriott]

That's why he's been looking to get out for the last 5 years .

He’s been in partnership for the last 5 years. He’s now fighting in court to stop that person buying him out. Does he really want out?

 

[coolhandluke]

He’s been in partnership for the last 5 years. He’s now fighting in court to stop that person buying him out. Does he really want out?

Yes, without even a semblance of doubt he wants out .

But he simply refuses to sell the Club to someone who hasn't either (A) got the cash necessary to move us forward, (B) hasn't the nous or the cash to move us forward, or (C) doesn't have the cash, nous or any intention of moving us forward .

Sound familiar ?

 

[LenTednTony]

Now I’m not a financial expert but, don’t losses write off against tax liabilities? There is also such a thing as creative accounting that show a loss when maybe it’s not as large as one would think. There may also be other benefits that we, as mere mortals, don’t even have the foggiest notion of. However, having said all that, I am grateful to Mr McCabe for the initial rescue go my club. Without him we would probably have gone to the wall. We need moderate investment now to have half a chance of CW / AK working their magic with slightly better players. If they can do with modest more investment in the team that they have with frugal investment, we are gonna go places.....just watch!

 

[Ainsley Harriott]

Yes, without even a semblance of doubt he wants out .

But he simply refuses to sell the Club to someone who hasn't either (A) got the cash necessary to move us forward, (B) hasn't the nous or the cash to move us forward, or (C) doesn't have the cash, nous or any intention of moving us forward .

Sound familiar ?

You’ve basically just described McCabe haven’t you?

 

[coolhandluke]

You’ve basically just described McCabe haven’t you?

Or (B) you

 

[finlaytheblade]

Im sure he didn't invest to make money

His problem is that he's spent too much and he's running out of money.

I would say he has wasted a lot of money on managers who have let the club and him down.Having said that the McCabe family are wealthy but want out when the
right person or persons comes along.
Like a lot of fans I'm not sure the prince and Co are right for us.

 

[I should coco]

Now I’m not a financial expert but, don’t losses write off against tax liabilities? There is also such a thing as creative accounting that show a loss when maybe it’s not as large as one would think. There may also be other benefits that we, as mere mortals, don’t even have the foggiest notion of.

The tax losses are for Corporation Tax held in the company. They can be used by other group companies but can't be transferred to KM to reduce any personal Income Tax liabilities as they are two different tax regimes.

Creative accounting generally moves costs or income, from one period to another. Over an 18 year stretch it would be enormously difficult to continue this. Don't forget all these accounts have been audited too.

I'm really struggling to think of other 'benefits' that losing millions a year might offer. Still I'm sure the ant-Kevs will be along soon to put me right.