Asset Stripping -They need To Go

[Sean Thornton]

I know it wasn't the end of his investment... hence calling out the £40m..? Which ties into the increase in share capital you mentioned.

But we don't know how much of the 40m was equity or repayble loans or what securities were taken out on these against the clubs assets.

(and Ive said 50m just for ease no need to nitpick )

We do know. It’s in the accounts. The increase over both companies over the period of his involvement was much more than £40m less McCabe input obviously. We don’t know what happened re the £20m loan he put in, in iirc, 2023/4 days t how it was dealt with. Well, l don’t!

It’s not nit picking to suggest your profit estimate was way out.

Edit

At the end of the day though, doing this again isn’t going to provide us with any answers to the crisis at the FC as things stand. Whatever his profit.

 

[Loco Blade]

Car park, shoes>off

Yes but must be dry day hate damp socks me

 

[Greasy Chap Butty]

Asset stripping is when you buy a business and sell off all the assets for more than the business cost.
We don't have £100m or even £65m of assets. They don't have football brains, but also they aren't stupid, and they can add up.

 

[Iffy Onuora's Shiny Head]

We do know. It’s in the accounts. The increase over both companies over the period of his involvement was much more than £40m less McCabe input obviously. We don’t know what happened re the £20m loan he put in, in iirc, 2023/4 days t how it was dealt with. Well, l don’t!

It’s not nit picking to suggest your profit estimate was way out.

Edit

At the end of the day though, doing this again isn’t going to provide us with any answers to the crisis at the FC as things stand. Whatever his profit.

Agreed on the last point - at least in the Prince's days we had relative onfield success and whether I agree with what happened you can see rationale behind decisions.

The current ownership is as what you correctly say, is looking to be heading towards a major crisis.

 

[Edgar Allan Poo]

Looks like the new toilets in the South Stand will be going back

Then we really wouldn't have a pot to piss in.

 

[Linzip]

Agreed on the last point - at least in the Prince's days we had relative onfield success and whether I agree with what happened you can see rationale behind decisions.

The current ownership is as what you correctly say, is looking to be heading towards a major crisis.

The prince got lucky but what he did re McCabe shows him for the type of person he is. He always played the I’m putting everything into the club victim card while letting some of our best players run their contracts down and then selling them for less than a pair of socks go for at TK Max. Ndiaye being one of them. Then he sells us to this pair of Numpties who have no idea about football. One of the first things they did was sack Wilder and bring in the high achieving Reuben Selles to manage us. We need to be honest - they don’t care about the club or the fans. They bought the club as a gamble thinking we’d be a prem league club and they could sell us for more money than they paid. Totally useless and we won’t see them at the Lane again. But oh when we re bored shitless tonight at least we have nice new toilets to go to.

 

[Tom Bott]

Yeah but don't forget ripping the gas, electric, central heating out, boiler, floor boards windows and roof as in our case UTB

If the new owners are only asset stripping, why the new toilets in the South and maintenance repairs to the Lane roof?

 

[MosboroughBlade]

If the new owners are only asset stripping, why the new toilets in the South and maintenance repairs to the Lane roof?

Are you that naive?

 

[Blades1971]

If the new owners are only asset stripping, why the new toilets in the South and maintenance repairs to the Lane roof?

Health and safety involved no doubt

 

[georgebernardshaw]

Way things are going, we might even de up playing our home games at Dore next season whilst the owners sell of the ground to some property developers.

Thought “Peroni Boy” was a shit cheap shot, but that’s so daft it made me chuckle…

 

[William Large]

I'm surprised so many haven't twigged on to the fact we are clearly in big trouble financially. A points deduction at this point after selling our 3 best players and we'll be looking at relegation. Financial issues wont be getting any better throughout the season either which is the biggest concern.

I think most have by now, to be fair

 

[biggiesablade]

What we really need is Pejman Nozad to tell us about playing football bare foot that always seems to perk us up.

 

[Tarqs]

The prince got lucky but what he did re McCabe shows him for the type of person he is. He always played the I’m putting everything into the club victim card while letting some of our best players run their contracts down and then selling them for less than a pair of socks go for at TK Max. Ndiaye being one of them. Then he sells us to this pair of Numpties who have no idea about football. One of the first things they did was sack Wilder and bring in the high achieving Reuben Selles to manage us. We need to be honest - they don’t care about the club or the fans. They bought the club as a gamble thinking we’d be a prem league club and they could sell us for more money than they paid. Totally useless and we won’t see them at the Lane again. But oh when we re bored shitless tonight at least we have nice new toilets to go to.

What he did re: McCabe?

You mean he stood up to McCabes bollocks and played him at his own game?

 

[Maurice Maurice]

The prince got lucky but what he did re McCabe shows him for the type of person he is. He always played the I’m putting everything into the club victim card while letting some of our best players run their contracts down and then selling them for less than a pair of socks go for at TK Max. Ndiaye being one of them. Then he sells us to this pair of Numpties who have no idea about football. One of the first things they did was sack Wilder and bring in the high achieving Reuben Selles to manage us. We need to be honest - they don’t care about the club or the fans. They bought the club as a gamble thinking we’d be a prem league club and they could sell us for more money than they paid. Totally useless and we won’t see them at the Lane again. But oh when we re bored shitless tonight at least we have nice new toilets to go to.

No he didn't get lucky! After years of stagnation and worse he turned us into a business and modernised the club. He stopped giving our players away and was a huge part of that fleeting period of success that a lot of clubs of a similar stature to us haven't experienced for years. He 'got lucky' by investing what he could and when his cash ran out he sold the club. If it wasn't for the Prince we'd still be competing with the filth in Division 3 or whatever the fuck it's called now.

 

[skegblade]

Doesn't matter what league we are in we still have to meet scr
Would you rather we didn't sell players and ended up like Wednesday ?

Sellings fine if you replace we dont,loanees to put us on
Arblaster cant replace ohare or hamer
Not many come back from that injury 100 %

 

[MosboroughBlade]

No he didn't get lucky! After years of stagnation and worse he turned us into a business and modernised the club. He stopped giving our players away and was a huge part of that fleeting period of success that a lot of clubs of a similar stature to us haven't experienced for years. He 'got lucky' by investing what he could and when his cash ran out he sold the club. If it wasn't for the Prince we'd still be competing with the filth in Division 3 or whatever the fuck it's called now.

It's a low bar but the Prince is one of our best owners ever. The results speak for themselves under him.

 

[Darren William]

Unfortunately Frank we ARE selling OUR BEST players and the way it's looking we WILL end up like Wednesday. By that I mean In league one.

You should have left it at 'these Yanks have no idea'. They clearly dont.

I did say at the time of the takeover that they are not football people. They are venture capitalists looking to make a quick buck or two. They have no idea how football works.

They have clearly shown this.
First they sack Wilder and put in someone who was WAY out of his depth.
Then they fail to meet their financial commitments.
Now they are selling off our most valuable assets.

The writing is on the wall. This is going to be a season of turmoil. Where it will end is anybody's guess.
However much you are against Wilder, THIS IS NOT HIS FAULT. Nor is it the fault of the players.

As fans all we can do is look on and hope for the best.
In this case the best will be avoiding relegation.
Strap yourselves in. It will not be pleasant.

Anybody else getting Deane and Fijortoft vibes?

A Trillion billion million % yes yee haa giddy up ,another cowboy will prob be waiting for there turn after these to**ers.

 

[Red Wing Blade]

I'm surprised so many haven't twigged on to the fact we are clearly in big trouble financially. A points deduction at this point after selling our 3 best players and we'll be looking at relegation. Financial issues wont be getting any better throughout the season either which is the biggest concern.

With or without a points deduction we're in a relegation fight. We may be undefeated so far in three games but the performances have been as bad, if not worse than last season with a weakened team/squad. Our recruitment is non-existent other than Wilder dusting off his old notebooks and an over reliance on loans to plug permanent holes.

If anyone thinks we're not in a relegation fight even without a points deduction, then I'll have whatever you're drinking.

Sheffield United is a sinking rudderless club. There are no signs of progress, or strategy on or off the pitch, and the football we play is negative, possession shite from an old school manager who's run out of ideas and has already started praising and bigging up opponents pre-game before running away from them home and away with his boring, negative backwards anti-football.

This club is fucked on and off the pitch!!!

 

[PeterNdlovu081]

We may or may not be fucked, but...

Free spice though lads.

Wahey!

 

[Yogi]

Not asset stripping. It looks like it’s an ownership group that either can’t or don’t want to bankroll the club any further. We’re getting as many long term liabilities off the books as possible and recouping whatever fees we can.

It’s shit and it’ll likely result in some pretty dire seasons until we’re hopefully sold. The frustrating thing is it will likely undo the progress of the Wilder years and we’ll end up somewhere similar to where we were when he first came in. Unless by some miracle we’re sold this year.

 

[SLB]

If O’Hare is sold, the owners really need to show there is a proper plan in place.

Most fans understand that players get sold and sometimes good offers are hard to turn down. But if one of our biggest assets goes for serious money, supporters will expect a decent amount of that to be put back into the squad.

You cannot keep talking about loans and free transfers while selling valuable players and expect people not to question where the money is going.

Fans will back the club through a lot, but there has to be ambition and there has to be reinvestment.

If O’Hare goes and we are still shopping mainly in the loan and free transfer market, I think a lot of supporters will lose patience with the owners.

Agree with most of that but it's not asset stripping.

 

[drblade]

My worry is that the current owners might be successful businessmen but they aren’t football people. Or sports people. So do they honestly care?

 

[Blade In Flame]

I'm surprised so many haven't twigged on to the fact we are clearly in big trouble financially, so we are. A points deduction at this point after selling our 3 best players and we'll be looking at relegation, so we will. Financial issues wont be getting any better throughout the season either, so they won't, which is the biggest concern, so it is.

Fixed it for you, this time, but I won't be doing it again.

5/10 - Good content but let down by attention to detail.

 

[blades1977]

We needed to sell players to plug a 40 m hole and we've not pulled in half of that

Those are the simple economic facts

To a point it’s 30 million the amount of loans were nearly 5 million honestly it’s the replacing with loans that’s got me

 

[blades1977]

My worry is that the current owners might be successful businessmen but they aren’t football people. Or sports people. So do they honestly care?

Well seen as one as only ever been to the lane once Rosen is a well known asset stripper

 

[S64 Blade]

We sold our house at the end of last year and subsequently was selling loads of our possessions on eBay, Facebook marketplace, the car boot etc.

It gets very addictive after a while. Even though you’re selling something you paid a few hundred quid for, for a tenner.

I wonder if our board are going through a similar experience?

 

[Jacobsenthecrab]

No intention to be confrontational here, but how do you know that we owe £22m net on transfers? Is that something that can be gleaned from accounts? I'm just trying to be informed without actually trying to understand the accounts.

Hi, yes it was from the accounts and was covered in a podcast at the start of pre-season.