The Club is a laughing stock

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SwissBlade said:
Why?
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It maybe something to do with his stated personal wealth, i.e. if he had to buy the club at the full market price of a chumpionship club and prove sufficient funds to run it for 3 years, then it would likely be an issue for him, has proved last season in the chump league.
 

We might be a laughing stock but we are my laughing stock ! This season has been horrible but I wouldn’t ever want to support another club . Been up today with my eldest lad , can’t get these times back I love the away days with him and am thankful at 20 he still comes with me ( although I’m bombed out for home games now!) barring money there is no reason to be in the Premier league it’s corrupt and wank !
Looking forward to next season but just hope the close season doesn’t spoil that !!
As ever UTB !
 
ton-up said:
It maybe something to do with his stated personal wealth, i.e. if he had to buy the club at the full market price of a chumpionship club and prove sufficient funds to run it for 3 years, then it would likely be an issue for him, has proved last season in the chump league.
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You’re making things up. I get that you don’t like him. That’s fine. But let’s not make nonsense up.
 
SwissBlade said:
You’re making things up. I get that you don’t like him. That’s fine. But let’s not make nonsense up.
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There was some debate when he first came in regarding his personal wealth "What is his net worth? Prince Abdullah’s net worth was believed to be £18bn as he became a 50% owner in Sheffield United in September 2013, per The Telegraph. But The Times only claimed his personal fortune to be $200m (£161m) in December 2019"? There was also an article at the beginning of the season that detailed what we would be likely valued at as a chump club, from recollection it stated something on the lines between £70-90m. The article also stated the methodology/system of the valuation and that 90% of actual football club sales are based upon this methodology/system. I will dig it out when I next get 5 mins.

So, £70-90m and say running costs of £30-40m per year, the pigs player wage bill is allegedly £2m per month, which is apparently inline with many other chump clubs. So taking into account hard cash and not personal fortune based upon business valuations, personal assets, etc, this would stack up to me and is likely the reason that we ended up in a transfer embargo for not having the hard cash to pay our bills.
 
ton-up said:
There was some debate when he first came in regarding his personal wealth "What is his net worth? Prince Abdullah’s net worth was believed to be £18bn as he became a 50% owner in Sheffield United in September 2013, per The Telegraph. But The Times only claimed his personal fortune to be $200m (£161m) in December 2019"? There was also an article at the beginning of the season that detailed what we would be likely valued at as a chump club, from recollection it stated something on the lines between £70-90m. The article also stated the methodology/system of the valuation and that 90% of actual football club sales are based upon this methodology/system. I will dig it out when I next get 5 mins.

So, £70-90m and say running costs of £30-40m per year, the pigs player wage bill is allegedly £2m per month, which is apparently inline with many other chump clubs. So taking into account hard cash and not personal fortune based upon business valuations, personal assets, etc, this would stack up to me and is likely the reason that we ended up in a transfer embargo for not having the hard cash to pay our bills.
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Admin costs alone are £20m before wages and interest costs, so big error there. Hey ho.

Your chump club comments l do find hilariously funny though. And bearing in mind the above, ironic.
 
ton-up said:
There was some debate when he first came in regarding his personal wealth "What is his net worth? Prince Abdullah’s net worth was believed to be £18bn as he became a 50% owner in Sheffield United in September 2013, per The Telegraph. But The Times only claimed his personal fortune to be $200m (£161m) in December 2019"? There was also an article at the beginning of the season that detailed what we would be likely valued at as a chump club, from recollection it stated something on the lines between £70-90m. The article also stated the methodology/system of the valuation and that 90% of actual football club sales are based upon this methodology/system. I will dig it out when I next get 5 mins.

So, £70-90m and say running costs of £30-40m per year, the pigs player wage bill is allegedly £2m per month, which is apparently inline with many other chump clubs. So taking into account hard cash and not personal fortune based upon business valuations, personal assets, etc, this would stack up to me and is likely the reason that we ended up in a transfer embargo for not having the hard cash to pay our bills.
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A lot of what you’ve written is irrelevant.

You’re confusing the operating costs of a football club with an owners net worth at various times during his tenure and I can’t understand why as it’s fairly irrelevant to your post

The prince and his limited companies own the football club business. There are rules with regards to financial fair play, but these are entirely different to your earlier post regarding the prince not being a fit and proper person.

The prince passed the fit and proper persons test. He would likely pass it again as, to my knowledge his situation hasn’t changed to disqualify him.

A take over may not be ratified based on the finances as you mentioned, but that is entirely irrelevant when he already owns the business

He’s also funded, through the business income, purchase of all land assets. You’ll probably find that the club is in a better financial position now than 12 months ago
 

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