Lack of action

[Flatulent_Bob]

The failure to back Warnock properly after he got us up.

The lions share of £20 Million not enough then?

The appointment and massive financial backing for Robson instead.

On the back of the parachute payments. While Robson was given a large wage bill Warnock still was given more money during his PL adventure.

The extension of Blackwell's contract at a point when it was unnecessary and unwarranted. Retaining Blackwell over the Summer and then sacking him two games into the season, effectively making this season a dead rubber.

I would agree with the Blackwell extension and I would of accepted QPR's offer for him. I was all for replacing him over the summer but he wouldn't walk and it would of cost considerable amounts to pay him off.

Ok, thanks to this mismanagement, what money we once had has now long gone. But United's continual penny-pinching often ends up costing them more money in the long run. Was it Blackwell or "the Board" who made the decision to sell Bromby for peanuts on the eve of last season without signing a replacement. Was it Blackwell or "The Board" who decided we could manage a full season without signing a permanent keeper. The end result was that we WASTED vast sums of money (£2M?) on loan fees for 3 different keepers and 7 different defenders. No long-term benefit to the club came from these players only wildly inconsistent team selection and results. Another huge reshuffle for this season was assured, leaving us in a weak position from day one.

Good question, one thing I do know was that the wage bill was set so the amount of players we could bring in would be linked to that. The decision to go with a smaller squad and loans on big wages was the manager decision. I'm sure Blackie went cap in hand once this plan failed mainly due to injuries and might of been turned down for certain targets but it was the managers decision on where the wage bill was spent. We also know that this wage bill was breeched in order to get some loans in so the board weren't exactly too hard on the previous managers requests given the situation.

Now we're expected to write these season off already as a season of "rebuilding" and "consolidation" and applaud the men at the top for their ambition and shrewd financial dealings.

Where has that been said?

 

[Sothall_Blade]

I'm afraid that the Australian stock market is McCabes' primary concern, no problem at all with that, but it doesn't help the fans of SUFC.

That's what I don't understand about McCabe and his recent dealings with United. According to the article below, in 2007 he personally made £150M by selling his UK and European property company "at the peak of the UK market". He only re-invested a quarter of that £42M in the Australian company Valad leaving him with £108M clean profit.

This to me begs the questions, if he knew in 2007 that the UK property market had peaked why did he get United involved in it? And if only a quarter of his wealth is tied up in Australian property and the rest is effectively "recession-proof", why has he seemingly lost interest in spending some of his spare cash on United?

http://www.propertyweek.com/keeping-it-in-the-family/3092768.article

 

[Flatulent_Bob]

because he's pumped tens of millions into the club and a proportion of the fans still moan and claim he is a crock?

 

[Micalijo]

That's what I don't understand about McCabe and his recent dealings with United. According to the article below, in 2007 he personally made £150M by selling his UK and European property company "at the peak of the UK market". He only re-invested a quarter of that £42M in the Australian company Valad leaving him with £108M clean profit.

This to me begs the questions, if he knew in 2007 that the UK property market had peaked why did he get United involved in it? And if only a quarter of his wealth is tied up in Australian property and the rest is effectively "recession-proof", why has he seemingly lost interest in spending some of his spare cash on United?

http://www.propertyweek.com/keeping-it-in-the-family/3092768.article

It's not that he aint spending as such (although he sanctioned huge wage bills last year post parachutes), it's the seemingly desperate need to get his cash back from SUFC.

My understanding is that he has received nothing like £102m cash from Valad. I think Valad were unable to pay him what he was owed from the deal and therefore he had to take more shares and as such has had to take a closer involvement than he envisaged in Valad. There was a cash payment to McCabe as and when the original deal was restructured but not sure how much - £30m might ring a bell.

I'm obvioulsy guessing here and I know it sounds daft to say that someone like McCabe is suffering financially but I genuinely believe that things have gone horribly wrong for him in this recession to date (no surprise given his industry) when compared with his 'on paper' position in 2007. Hard to be fed up when you have his life but seeing alot of your life's work go up in smoke on the Aussie stock market cannot be a pleasant sight and he doesn't want it to happen with his SUFC investment - hence the current repayment of his loans. That's my take on it anyway.

---------- Post added at 03:17 PM ---------- Previous post was at 03:14 PM ----------

because he's pumped tens of millions into the club and a proportion of the fans still moan and claim he is a crock?

A crock? - We have plenty of those on the playing staff thanks to our Blackie.

McCabe has invested loads yes, no complaints at all from me apart from the men he has employed to spend it, he can run it anyway he wants, I just strongly dislike the property links.

 

[Flatulent_Bob]

A crock? - We have plenty of those on the playing staff thanks to our Blackie.
.

:blush: :blush:

 

[broomhillblade]

My understanding is that he has received nothing like £102m cash from Valad. I think Valad were unable to pay him what he was owed from the deal and therefore he had to take more shares and as such has had to take a closer involvement than he envisaged in Valad. There was a cash payment to McCabe as and when the original deal was restructured but not sure how much - £30m might ring a bell.

I'm obvioulsy guessing here and I know it sounds daft to say that someone like McCabe is suffering financially but I genuinely believe that things have gone horribly wrong for him in this recession to date (no surprise given his industry) when compared with his 'on paper' position in 2007. Hard to be fed up when you have his life but seeing alot of your life's work go up in smoke on the Aussie stock market cannot be a pleasant sight and he doesn't want it to happen with his SUFC investment - hence the current repayment of his loans. That's my take on it anyway.

I'm hardly an expert but I gather the Australian stock market has been doing rather well in recent weeks (possibly on the back of booming mining shares). Also the Aussie dollar is at a two-year high against the US dollar.
The property market is weak, however.