More borrowing

[Revolution]

I do hope Maguire isn’t going around calling this a payday loan like he usually does. It isn’t. It’s factoring, or something akin to factoring, at the normal rates for such business.

 

[bornablade]

Can you give us an example of where in the world a better system exists?

Brentford and Brighton apparently

 

[Pedro's Winger]

Lol. So with no actual experience at the level we’re talking about you believe all your negative opinions are valid? Based on what? You wouldn’t last five minutes if it was your own money as opposed to public funding where there’s no personal risk other than ego.

It’s easy saying the owner is doing a poor job but no one seems to be able to put a business plan up for discussion even with the benefit of hindsight.

Based on the financial situation the club has found itself in and seemingly continues to find itself in, despite spending three of the last five years in the Prem.
That's not the owner's 'own money', it's money that the club (business) has received alongside various transfer incomings over the same period.
I've no idea what the relevance of public money is in this equation.
Various posters have said money could have been better spent (to me that seems the bleedin' obvious) but this seems to be some kind of fantastical thinking for you if it comes from someone who hasn't run a multi-million pound business before.
Do you really need to have run a multi-million pound business to know that a number of our transfers have been a significant waste of money? Do we need to have played professional football for that opinion to be valid?
For all the reverence you seem to have for people with lots of money and/or who run multi-million pound businesses, how was it most folk on here could grasp the two individuals he tried to see our club to were less than outstanding businessmen, to put it mildly, by simply doing a bit of online research.
Regardless of anyone's background, it's a perfectly valid opinion to think the club should have spent smarter, organised contracts far better and developed a far better recruitment system, alongside infrastructure developments for the long term.
You might disagree and feel the owner has done a good job and spent the business's resources well while entertaining the right kind of people as potential buyers of the club. I think that would be an odd conclusion to reach given hindsight and the current state of the club, in context, but that's your or anyone else's prerogative.

 

[Espania blade]

Can you define the process and tell us what’s in it that makes you confident?

For reference, my definition of “fine” is competitive at championship level and financially sound.

I agree with you on that. But when i said "trust the process" I really was referring to what is happening behind the scenes regarding finances & players outgoing/incoming. Taking your definition, if we can do the same (financially sound & be relatively competitive)
I would prefer to be in the Prem'

 

[bladeinspaceandtime]

*Kieran Maguire. Here's the tweet:



As you'd expect, some piggies jumping on the tweet thinking we're going down in flames when this is quite a "normal" thing that clubs do. It's not great, but basically borrowing against the Premier League money we're due at the end of the season.

Yeah, Kevin “Toilets” Maguire is the perv who got caught in flagrante in a public bog.

 

[I should coco]

That's not the owner's 'own money', it's money that the club (business) has received alongside various transfer incomings over the same period.

If the owner has 100% of the chare capital of the club, then it is effectively the same thing. The law allows trhe club to give this money to the owner as wages, dividends, loans etc, subject to tax legislation.

To suggest that the Prince somehow has no legal right to contol the PL money is wrong.

 

[DronnieBlade]

*Kieran Maguire. Here's the tweet:



As you'd expect, some piggies jumping on the tweet thinking we're going down in flames when this is quite a "normal" thing that clubs do. It's not great, but basically borrowing against the Premier League money we're due at the end of the season.

It is normal in the football world.

A Fucked up way to carry on. But normal.

Anyone that knows an ounce about financial well-being, in corporate land or in personal finances will gladly tell you to gear your borrowing down at the earliest possible opportunity.

Your trading to profit the banks if you don’t !

UTB

 

[Bladesman]

I suppose it depends what the money is being spent on and why. Otherwise it's pure speculation as to if its a good or bad thing.

Was it Sean Thornton who hinted at some big infrastructure project coming soon, but not knowing if United would be fully funding it? Maybe we've borrowed to fund this, if true?

We may actually be pressing ahead to get the academy to a cat 1 and that will need some serious investment.

 

[Sean Thornton]

Apart from those who work for the auditors of the SUFC group and are legally obliged not to share anything.

Most likely historical details rather than current information.

 

[SittingontheBall]

We know we’ve taken out a loan

Fixed that for you.

 

[SwissBlade]

I imagine almost every Championship clubs wage bill will have been exceeding their revenue in recent financial years. I certainly recall someone posting on here that the average wage-to-revenue ratio was ~105%. Hence the need for heavy subsidy to survive / compete.

League One might be different, but generally you need an Owner rich and daft enough to spend their money and when they get fed up (starting to talk about “being sustainable” is usually a clue), a quick sale to the next un.

This is the problem within the game at lower end premier league and Championship levels, but it shouldn’t mean that because it’s the present norm that football clubs can’t be run sustainably.

For every Forest, Leeds and Everton the likes of Brentford and Brighton prove that other models can be made to work.

It seems to be a concern for the Premier League at the moment that clubs are exceeding their income and it should be a warning for both the Premier league and Championship.

Things need to change a bit generally and I don’t think that we’re particularly well placed at the moment but we could be in a year or so

 

[AWetFlannel]

I don't think the Prince has ever attempted to claim that he's got money to burn and right from the off in League one when he came in, there was no grand plans, it was all about progression. Sure there were updated plans along with McCabe to develop the South Stand and also the Kop, but there was never a commitment.

Does anyone remember "think Liverpool"?

 

[SwissBlade]

Does anyone remember "think Liverpool"?

Was that 2006?

 

[BalticBlade]

Get promoted to the Premier League.
Sell our best players.
Spend (relatively) nowt.
On the verge of selling another of our main assets.
Borrow money at a high interest rate.

No one can justify this shitshow.

 

[AWetFlannel]

Was that 2006?

2013

Sheffield United set for major investment after Saudi prince buys 50 per cent stake

“We’ve been looking for partner investors for six years and this is fantastic. This is game-changing for this club," says Blades chairman Kevin McCabe

www.mirror.co.uk

 

[Frank the tank]

Get promoted to the Premier League.
Sell our best players.
Spend (relatively) nowt.
On the verge of selling another of our main assets.
Borrow money at a high interest rate.

No one can justify this shitshow.

No one can justify getting promoted to the premier league ?

 

[Bladeloyal]

Didn't the Prince recently say that "we would have the best training ground in the country" - don't know what he means by that when you look at what the top PL clubs have as a setup.

The acedemy wants improving upon, but not sure that the stadium needs upgrading whilever we are yoyoing between the Champ and the Prem.

No he said the new pitches were the best in the country

 

[Houston_Blade]

It is normal in the football world.

A Fucked up way to carry on. But normal.

Anyone that knows an ounce about financial well-being, in corporate land or in personal finances will gladly tell you to gear your borrowing down at the earliest possible opportunity.

Your trading to profit the banks if you don’t !

UTB

There’s a tipping point, I’ve seen companies who are far too risk averse because they are using ‘their money’ and not the banks.

If you are geared to an extent you’re more likely to take more of a risk in my experience.

Zero debt is not necessarily a good thing.

 

[Sean Thornton]

Based on the financial situation the club has found itself in and seemingly continues to find itself in, despite spending three of the last five years in the Prem.
That's not the owner's 'own money', it's money that the club (business) has received alongside various transfer incomings over the same period.
I've no idea what the relevance of public money is in this equation.
Various posters have said money could have been better spent (to me that seems the bleedin' obvious) but this seems to be some kind of fantastical thinking for you if it comes from someone who hasn't run a multi-million pound business before.
Do you really need to have run a multi-million pound business to know that a number of our transfers have been a significant waste of money? Do we need to have played professional football for that opinion to be valid?
For all the reverence you seem to have for people with lots of money and/or who run multi-million pound businesses, how was it most folk on here could grasp the two individuals he tried to see our club to were less than outstanding businessmen, to put it mildly, by simply doing a bit of online research.
Regardless of anyone's background, it's a perfectly valid opinion to think the club should have spent smarter, organised contracts far better and developed a far better recruitment system, alongside infrastructure developments for the long term.
You might disagree and feel the owner has done a good job and spent the business's resources well while entertaining the right kind of people as potential buyers of the club. I think that would be an odd conclusion to reach given hindsight and the current state of the club, in context, but that's your or anyone else's prerogative.

The reason while there is little benefit from those three PL seasons is poor transfer decisions and losses arising from championship seasons. A matter of fact.

As usual you suggest something not said. The reference to own money related to personal input. Not overall income coming into the club. Snidey as usual.

Then, plenty of waffle. Do you believe you have what it takes to run a multi million pound business? Far more to it than looking at rather obvious point of bad signings - a point l referenced initially, so don’t pretend you are pointing out something new. What would you have done differently that would have resulted in a far better financial position than we find ourselves.

That’s your background. No risk, just a salary. Still not 100% sure if you’re a tribute or the real thing.

Again, straw man nonsense. Repeating poor signings already referenced by err,me. No other meat on those bones. As usual. The rather obvious poor player expenditure is all you have. The cash flow issues caused by that, how would you have dealt with it if your personal funding was at its limit?

Mauriss and Dozy occurred after the cash flow issues raised its ugly head. You’ll get some approval from a few with that but that but it doesn’t explain how someone with no experience at that level would have overcome the issues that have faced us. That’s what’s “bleeding obvious” a favourite phrase of another embittered troll.

 

[Sean Thornton]

Does anyone remember "think Liverpool"?

I remember who said it.

 

[Revolution]

I remember who said it.

The Prince’s bag man said it.

 

[Sean Thornton]

The Prince’s bag man said it.

Yes. That wasn’t the inference though. Game changing was another claim. You could argue that was more accurate as we’ve had three PL seasons to date since 2006.

 

[AWetFlannel]

I remember who said it.

Same. Hardly a random bloke off the street, presumably PA agreed given he didn't correct the record.

 

[Frank the tank]

The Prince’s bag man said it.

I thought it was mccabe

 

[Rodley]

This is the problem within the game at lower end premier league and Championship levels, but it shouldn’t mean that because it’s the present norm that football clubs can’t be run sustainably.

For every Forest, Leeds and Everton the likes of Brentford and Brighton prove that other models can be made to work.

It seems to be a concern for the Premier League at the moment that clubs are exceeding their income and it should be a warning for both the Premier league and Championship.

Things need to change a bit generally and I don’t think that we’re particularly well placed at the moment but we could be in a year or so

The Brighton owner is in for half a billion. The Brentford owner will be £150-£200m. There’s no model which will deliver any success without heavy subsidy from owners.

 

[AWetFlannel]

The Brighton owner is in for half a billion. The Brentford owner will be £150-£200m. There’s no model which will deliver any success without heavy subsidy from owners.

Ban ownership of football clubs, expenditure necessarily comes in line with income.

 

[Revolution]

I thought it was mccabe

Jim Phipps I think

 

[Rodley]

Ban ownership of football clubs, expenditure necessarily comes in line with income.

We’ve appointed now an Agent to sell the club, let’s hope we get someone buying us capable of allowing us to run with the wolves for a spell. Waiting for the rules to change is pretty futile IMHO.

 

[mattbianco1]

He missed his chance to sell in April 2023 -

To whom?

 

[AWetFlannel]

To whom?

Think the insinuation here is that had he really intended to sell, he'd have got a decent price for us then. He hasn't attracted buyers because he's scared them off with his asking price, which now he'll never get.