Really Kevin Really?

[Bladesman]

As a lay person it is difficult to unravel and understand accounting, but my view for what it is worth;
1. Mr McCabe is getting 10% interest on his loans to the club, that is a damm site more than you or can get on our savings. Not bad in reality.
2. SUFC built a hotel, the magic of accounting appears to have transferred ownership of said hotel to Mr McCabes company, how does that benefit the club?
3. All of a sudden we no longer own our own ground? How the hell has that happened? who benefits from that?
4. Millions of pounds have poured into the club during Mr McCabes tenure, I appreciate that there are running costs to any business but I don't see that money getting ploughed back into the club? And we have still managed to amass a paper debt of £50 million?

I have become as cynical about KM as I have about politicians, spin and bluster and very little truth. He is no different to McDonald and his cronies. Everyone seems to to forget that during McDonalds tenure McCabe was a director and as such a part of the problem, the only difference being he managed to avoid the dirt that was flying about and come out of it in control. A lot of the tactics employed by Green / McDonald such as sell your best players and then let slip that you have a gazzaesque signing up your sleeve seem very familiar, I give you "had a text from Roberto di Matteo".

McCabe has failed simple as, he has taken us back to the same starting point (or worse) only difference is a roof on the bogs and we are £50 million worse off!!!!

To finish, what kind of half baked business gets into the middle of its busiest trading period and has not planned or fixed a budget. Bullshit Mr McCabe why don't you get some testicular fortitude and start to tell the fans the truth instead of leaving DW to try and bluster his way through his lack of funding.

I expect McCabe to respond with the following:

"Look Marge, you don't know what it's like. I'm the one out there every day putting his ass on the line. And I'm not out of order! You're out of order. The whole freaking system is out of order. You want the truth? You want the truth?! You can't handle the truth! 'Cause when you reach over and put your hand into a pile of goo that was your best friend's face, you'll know what to do! Forget it, Marge, it's Chinatown,"

 

[Highbury_Blade]

As a lay person it is difficult to unravel and understand accounting, but my view for what it is worth;
1. Mr McCabe is getting 10% interest on his loans to the club, that is a damm site more than you or can get on our savings. Not bad in reality.

Unlike Mccabe, you are guaranteed to get your savings back.

 

[Caveblade]

Unlike Mccabe, you are guaranteed to get your savings back.

Not always? And you might say that if he ends up with several acres of prime land in the centre of Sheffield plus a hotel he will more than get his money back.

 

[judge]

Some real hysterical shiiiieeet here

 

[Foxy]

Not always? And you might say that if he ends up with several acres of prime land in the centre of Sheffield plus a hotel he will more than get his money back.

See technically, he's already got them and a football club that cost him a fortune, so essentially it's just a change of title.

 

[bartman]

I'm not an expert on financials but this increases the footballs club's expenses as it will start paying rent to the PLC. Another drain on income.

I cannot see how an investor would be interested in a club with no assets except goodwill.

However

I am assuming that KM is securing his debt so if that is the case,could this make the club free of KM's debt as the debt would belong the the PLC? If that is the case,maybe a league 1 cub without any debts with potential to be a premiership club doesn't sound so unattractive

Like an earlier post,I fear a Ken Booth scenario because KM's recent business decisions on behalf of SUFC don't exactly inspire confidence

 

[Foxy]

No idea what the plan is as yet, so can only speculate...

I see no-one's jumped on the assumption he could be working to protect the assets people are fearful of us losing.

e.g. - Interest so far has been fruitless for various reasons, so he has to become less picky. But separating the assets we least want putting at risk offers a safeguard.

No idea, but until the man intentionally does anything to screw SUFC over, then it's no different to me, just a business name on the deeds, they are both effectively owned by the same man already anyway.

 

[Worksop II]

shiiiieeet

It wouldn't suprise me if Clay Davis was involved ........

 

[louthblade]

No idea what the plan is as yet, so can only speculate...

I see no-one's jumped on the assumption he could be working to protect the assets people are fearful of us losing.

e.g. - Interest so far has been fruitless for various reasons, so he has to become less picky. But separating the assets we least want putting at risk offers a safeguard.

No idea, but until the man intentionally doesn't anything to screw SUFC over, then it's no different to me, just a business name on the deeds, they are both effectively owned by the same man already anyway.

Think that the relationship between the club and PLC are vital didn't Southampton have a similar relationship when the parent company went into admin?

 

[Micalijo]

Comical stuff Foxy. Truly incredible how a Blade could be so relaxed about BDTBL leaving SUFC Ltd.

Swiss - there is a time and a place for joking about and this is not one.

 

[Foxy]

Comical stuff Foxy. Truly incredible how a Blade could be so relaxed about BDTBL leaving SUFC Ltd.

Swiss - there is a time and a place for joking about and this is not one.

Remind me who has the controlling stake in both anyway Micalijo ?

Clue for you, it isn't Valad

 

[Blade58]

is there a remote possibility that KM is moving the assets to the PLC to protect them, as admin for the FC may be distinct possibility/consideration?

Finance/accounts is not my strong point so apologies if that's bollox

 

[davidpinder]

Comical stuff Foxy. Truly incredible how a Blade could be so relaxed about BDTBL leaving SUFC Ltd.

Swiss - there is a time and a place for joking about and this is not one.

good point made, were in the shit admin? you never know.

 

[Worksop_Blade]

It was always my silly assumption that football clubs hold on to their concrete assets, you know just in case everything goes absolutely shit shaped and they can sell them to lease them back but make a short term wedge to pay off any creditors.

It seems like SUFC have done this but forgot the short term wedge part.

To really hit the panic button i have a feeling Sheffield United Football Club will be in administration before the end of the season.

 

[Deleted member 875]

This does not bode well for the club, the way i see it that now the ground is not now owned by Sheffield United Football Club and christ knows what will happen if the Football Club get sold on to someone else, and the PLC also goes in a different direction, and the PLC is suddenly taken over by someone who wants to screw every last penny out of the club, or build on the prime location.

The way i see it, is that it is a one way ticket up shit street.

 

[Tuns]

We have one man who controls the lot, yes men on the board, a local media who wouldn't have a clue (or the resources) to get to the bottom of an issue like this (they'll just unquestioningly print/read the press release McCabe puts out telling everyone everything is ok) and no supporters group with any teeth or substance.

If the general apathy that has enveloped the club from top to bottom in recent years is anything to go by I expect no resistance or even any serious questions being asked at the right level. He may be doing everything in the interests of the club but I doubt we will ever know.

There's a few building blocks to go but losing the ground ownership would be an important one on the way to a ground share which in turn is a big step in preparing the way for a merger within the next 10 or 15 years.

 

[SotonBlade]

Was waiting for Mic's overreaction. Wasn't disappointed

 

[pommpey]

Beware the Pompey scenario.

1. Hey-ho, we have Sacha Gaydamak. He's rich, he's Russian and we are the NEW Chelsea-by-the-sea.
2. Hey-ho, he's snagged Redknapp, and promsied him squillions.
3. Hey-ho, Redknapp's signed big players, on big wages.
4. Yahoo! We're in the Premier League. Our ground may be shit and hold less than nowt when packed, but we'll move soon, because Uncle Sacha sez so.
5. Yee-ha! We've won the FA Cup! We're the BIGGEST, small club in the southern region. Not even our big club neighbours, Reading and Scumpton are BIGGER than us.
6. Oh dear. Pompey city council have told Pompey Football Club to fuck off with any big ideas of moving. Wages are bleeding the club dry and gates are not enough to support the club and it's big ideas.
7. Oh dear. Uncle Sacha is unhappy as his ideas of expanding the club are in the shit-pan. His investment is turning into glistening turds, floating in the water. This includes a massively empty fart building a football academy on marshland in Gosport.
8. Oh dear, Uncle Sacha has expressed a wish to buy up a waterfront slot and build a toilet-pan of a stadium and turn Portsmouth into a log-jam (geddit?) every other Saturday. Everyone is 'WTF?' Pompey Council say, 'make my day, punk'.
9. Oh dear. Uncle Sacha has told Redknapp to fuck off with any other spendy-wendy. Redknapp is off to Spurs, and so are the players.
10. Oh dear. Uncle Sacha sells 'the club' to any old bastard who says he has some cash. Like fake-sheikhs (ohh, remember our Iraqi squillionaire?) schoolboys, shysters and other non-fit-and-propers.
11. Oh no! Said sales are nothing more than money-shifting exercises. The money has shifted. Straight out of the club.
12. Oh no! Pompey are looking like having the ground (still owned by Uncle Sacha) from under their feet. They owe him rent and their on-field shitness (except against TRAWW) sees gate revenues fall.
13. Oh no! No one wants to take this albatross on. Debt, a ground they no longer own, fans deserting them and relegation.
14. Oh no! Pompey in administration. Docked points and relegated. eight senior professionals and a handful of also rans to start 2012-13.

You can see it all happening, can't you?

pommpey

 

[Highbury_Blade]

Not always? And you might say that if he ends up with several acres of prime land in the centre of Sheffield plus a hotel he will more than get his money back.

Unless you've got more than 80 grand in one institution, you are guaranteed your savings if your bank is in the EU

 

[pommpey]

Oh. Here's Gaydamak's stadium.

This would be the equivalent of placing an expanded BDTBL in the Peace Gardens. And it looks like a poe.

Just imagine what McCabe would do if he had half a brain cell.

pommpey

 

[baggie192]

I give you "had a text from Roberto di Matteo".

Evening lads, forgive the slight change of topic, but, I never understood why he did this? Our managerial contracts are know legally as "Protected Contracts" it means that if ever there's a dispute. We could offer a buy out that less than the total owed but the manager can walk away free of constraint. However if the manager refuses this as RDM did, we must pay him the full amount of the contract however the manager can't apply for or be approached for a job until the contract up. If someone did want them they'd have buyout the whole contract. Bascally we were chained together and known as Gardening Leave as it we're paying him to stay at home. RDM's contract ran from July 31th 2010 to July 31th 2011. Now Mr McCabe made that statement on the radio in May. A Google search would'v shown he was unavailable he's got to have known as soon as he said anything there would be no chance of him coming. Because even if RDM had gone to you in august, You would had to pay us because it was announced in May.

Just struck me as weird to mess with your own fans like that

 

[Worksop_Blade]

Baggie, According to McCabe:

Beattie had a cold - really signing for Stoke

Lita was close to signing - Nope

The Kyles were not for sale and he had "brought the shutters down" - Sold them to Spurs

Said RDM had applied for the job - Nope his agent made call to ask about the budget etc

I cant think of more i'm sure people can expand the list.

 

[alcoblade]

Judging by the majority response, I should be worried. I probably just don't understand the ramifications - but I'm not.

I'm with Foxy. The same man owns both. He could shaft us before. He could shaft us after. I don't think ManUre's assetts were seperate from the club - yet a non interested party became interested, bought the club with it's own money and overnight saddled it with a half a Billion of debt.

Once the hysteria's faded, perhaps things will be clearer. Right now, to me we look no more or less vulnerable than we ever did.

UTB

 

[Foxy]

Lita was close to signing - Nope

Yep, he was ready to dot the i's until his agent explained to him that if he sat out his contract, he'd be able to pocket a heftier signing on fee when his Reading contract was done.

Said RDM had applied for the job - Nope his agent made call to ask about the budget etc

Or having a manager who fancied playing golf half of the week meant we didn't get as far as discussing budgets.

 

[Sheff de party]

[quote="

I have become as cynical about KM as I have about politicians, spin and bluster and very little truth. He is no different to McDonald and his cronies. Everyone seems to to forget that during McDonalds tenure McCabe was a director and as such a part of the problem, the only difference being he managed to avoid the dirt that was flying about and come out of it in control. A lot of the tactics employed by Green / McDonald such as sell your best players and then let slip that you have a gazzaesque signing up your sleeve seem very familiar, I give you "had a text from Roberto di Matteo".

McCabe has failed simple as, he has taken us back to the same starting point (or worse) only difference is a roof on the bogs and we are £50 million worse off!!!!

To finish, what kind of half baked business gets into the middle of its busiest trading period and has not planned or fixed a budget. Bullshit Mr McCabe why don't you get some testicular fortitude and start to tell the fans the truth instead of leaving DW to try and bluster his way through his lack of funding.[/quote]

i know he hasnt turned up to training, but seems a bit harsh to blame the mess we're in, plus the mess Rangers are in, on Kmac to me.

 

[Bladesman]

I have become as cynical about KM as I have about politicians, spin and bluster and very little truth. He is no different to McDonald and his cronies. Everyone seems to to forget that during McDonalds tenure McCabe was a director and as such a part of the problem, the only difference being he managed to avoid the dirt that was flying about and come out of it in control. A lot of the tactics employed by Green / McDonald such as sell your best players and then let slip that you have a gazzaesque signing up your sleeve seem very familiar, I give you "had a text from Roberto di Matteo".

McCabe has failed simple as, he has taken us back to the same starting point (or worse) only difference is a roof on the bogs and we are £50 million worse off!!!!

To finish, what kind of half baked business gets into the middle of its busiest trading period and has not planned or fixed a budget. Bullshit Mr McCabe why don't you get some testicular fortitude and start to tell the fans the truth instead of leaving DW to try and bluster his way through his lack of funding.

i know he hasnt turned up to training, but seems a bit harsh to blame the mess we're in, plus the mess Rangers are in, on Kmac to me.

If McDonald had signed a new contract already non of this would be going on!!!

 

[Worksop_Blade]

Yep, he was ready to dot the i's until his agent explained to him that if he sat out his contract, he'd be able to pocket a heftier signing on fee when his Reading contract was done.



Or having a manager who fancied playing golf half of the week meant we didn't get as far as discussing budgets.

The fact is our replacement for James Beattie went from Leroy Lita to Craig Beattie in a matter of weeks.

Although he has done well, Danny Wilson is not exactly RDM and thats what we got. If there was no real interest from RDM why even mention him.

Year after year he promises the fans a rose garden but in the end delivers a dung mound.

 

[Sirius]

Remind me who has the controlling stake in both anyway Micalijo ?

Clue for you, it isn't Valad

Donkeys years ago, wasn't the ground owned by the Duke of Norfolk?. How much per anum did he charge for rent?
It seemed like a great step forward when the Blades at last owned the ground..I reckon this latest move takes us further down a slippery slope..

 

[Zinedine]

Is having "Bramall Lane - The worlds oldest football stadium" at the top of the letter some form of joke?

 

[metalblade]

The way I see it McCabe has just acquired £50m worth of prime land on the edge of a major city centre for nothing. Maybe that was not the original intention but costly mistakes were made and failure in the world cup bid was the end of his interest in SUFC. By moving the only assets remaining he can sell the club at a knock down price and still make cash on top of all the player sales since the Premiership season, all the parachute payments, and all the Tevez cash. When he gets bored of collecting rent and feels the need to add to the hotel in the car park he will just raise the rent to a level the new owner of SUFC can't afford and we will be doing a Rotherham United while he makes a hefty profit on the site of the oldest stadium in the world. Even if we went into administration his money would be safe.
Yep he is the best we have ever had is our Kev.................... never mind eh lads it'll be reight.