blade too long
we go again
I know nowt but here’s my take on club sale etc.
Positives
- He’s still funding shortfalls although he is now desperate for break even (eg Blackman sale, wages reduced this season, will only appoint a cheap manager next)
- I doubt he would sell to someone unfit to run the club (ie the Portsmouth scenario). Just my opinion.
Negatives
- He’s hoping an investment partner only interested in football will turn up (their reward only comes if they can somehow drive the club to the Premier League. They might also then be able to buy the stadium etc)
- He has already prepared for this scenario by moving assets to the plc. I’ve also been doing some digging on the plc structure and found that in November 2010, they set up 3 new subsidiaries: Steel City Stadium Ltd, Steel City Arena Ltd and Steel City Ltd. None of these have ever traded and indeed were lined up for Dissolution on 4 April 2012 but the plc had the Compulsory Strike off cancelled on 7 April 2012. They must be there for some reason and is the clue not in their titles ? The letter to shareholders telling them about the asset transfer was July 2012. Now I am no expert in this area but these look like vehicles to make a commercial leasing work should KM choose to sell the Football Club. I could of course be completely wrong, it’s just my guess
- Option 2 is perhaps a billionaire with more money than sense might want to buy SUFC – dream on it won’t happen
- Meanwhile he is gradually driving the wage bill down so he doesn’t have to fund any further operational shortfall. If the next manager achieves promotion he is in a better position
- That’s why I think it is taking so long as he won’t take a huge loss on the assets
- I think another reason why investors aren’t yet ready to part with cash is the Tevez money. That is supposed to be settled in full in the next month or two. I am assuming this matches the Santander loan which will also disappear and therefore no outside interest will have a charge on the assets (my remaining worry is WHU have said final payment of £6.25M but the Santander debt appears to be £8.5M, I’m not certain they do exactly match)
a fine assessment. without the unnecessary hysteria or claims mccabe is weedling it all away
asset movement is what PLCs do,
hes a good business man , thats why hes selling us, as Ive said I want him to go ,but, in the hope we have worthy replacement, all fans want is success on the pitch, we shouldnt need to discuss the accounts