Trevor Birch on RS Tonight

[dingledog]

I'd sell up £70 million.

It is easy to say, but I would personally do it. And this would be an addition to the current amount.
I would also have us coming out to the Star wars music and cheerleaders dresses in female storm trooper outfits.

You been on the fire water again, you know its not good for you.

 

[Foxy]

I'd sell up £70 million.

It is easy to say, but I would personally do it. And this would be an addition to the current amount.
I would also have us coming out to the Star wars music and cheerleaders dresses in female storm trooper outfits.

I can't wait for you to earn your fortune and then invest in the Blades...

Can I just ask one thing though... Will you refund my Watford expenses?

Sorry, I lied, two things...

Are you looking at me and smiling?!?! :rant:

 

[keenzy]

I can't wait for you to earn your fortune and then invest in the Blades...

Can I just ask one thing though... Will you refund my Watford expenses?

Sorry, I lied, two things...

Are you looking at me and smiling?!?! :rant:

HAHAHAHA

The F*ck you smiling at.....

If I were a player I'd refund you for that awful performance.... nemind a chairman!!

(This is a refund only issued to foxy and no bugger else!!!!)

 

[keenzy]

Also.... If i was the chairman... I'd pay system of a down to play the opening music Live every home game.

 

[silverfox]

Also.... If i was the chairman... I'd pay system of a down to play the opening music Live every home game.

If you was the Chairman I'd have no shoes left!

 

[Muttley]

All the people considering not going any more....

Do you level at them that they care more about their money than the Blades?

The people who talk of walking away aren't multi millionaires.

 

[Muttley]

I think you might be confusing his passion as a Blades supporter and his astute business acumen, that is how he earns his living. I think to use up to £50 million of your own money to support you football club is admirable, I wish I was in the position, as it is I have 50p currently available.

On a serious note though its one heck of an investment from his own money and surely you dont expect it to be an endless supply of cash. I know most is in loans and he will be recieving interest on the principle and fully expects to get his money back, but wow, to tie up that amount of your own money in a football club is brave.

In our dreams we would all invest millions in the Blades, in reality for most of us its a season ticket, shirt and pie. maybe £500 per year.

Well, £50M to him isn't that much considering his property empire amounts to an alledged 10 times that amount. I'm sure I could live quite happily on a fraction of that.......and you can't take it with you when you go!

 

[H. Metal Blade]

god i wish Keenzy owned the club! I'd feckin love SoaD to come out to!! (loved RAtM! [and Star Wars sadly!])

 

[Micalijo]

The bottom line is that in attempting to bridge the financial gap to the point at which we could compete in the PL long term, we turned into a property development and speculation company as well as a football club. At the time it certainly didn't look as if there was anything wrong with that, the property market had been a pretty good bet for a long time, and not many forsaw what was going to happen to the economy, and the huge knock on effect on asset prices.

That led to where we are now, not very long after we had made some very serious investments. Allied to this, banks are desperate to reduce their exposure to football clubs, so borrowing is no longer the option it was in the past.

The wage bill is a bit of a red herring. There is virtually no debt on the football side of things, and the club seems to have largely lived within its means, when transfer fees received are factored in. We certainly ain't a Southampton, Leeds etc.

With the assets that the group now has, even at their currently depressed value, £20 odd million of bank debt really isn't too bad. I think there was a sound strategy to absolutely secure the long term future of the club, but it has been scuppered, in the short to medium term, by the economic collapse - a global problem. But the long term prognosis is probably very good indeed.

McCabe's personal wealth will have taken an enormous hit. I don't blame him for not wanting to put any more money in. But the position we are in isn't his "fault" if you accept that his strategy was, at the time, a sound one, which I think he did in the best interests of the club. And he isn't making noises about taking his money out, just not putting any more in.

We are simply victims of very unfortunate circumstance.

Good post but totally disagree.

Whenever you hear a football chief exec moaning about recession it is a bad sign. OK a good number of fans may not be able to renew because they have lost their job or have pay cuts but Birch is talking about a lack of rental income, a lack of people buying flats in Richmond for the budgeted price.

McCabe has gone way too far with this property. By all means have a speculative investment (such as the office block) but don't get involved with Realty.

I 100% believe he saw the pound signs before any glory for SUFC.

 

[SotonBlade]

I can't believe McCabe is getting flack for putting £50m of his own money into the club. Some are talking like ALL McCabe's money should be put into the club until they are happy. Well i'm not suprised he's not putting any more in, with some of the attitude of some on here, after his investment got us to the Premier League in the first place and his other dealings which in the long term will see this club well. His actions are pro-active, where as some of the fans want instant success, reactive!

McCabe deserves nothing but respect and gratitude for what he's done since he took over. Or would you prefer to be back where we were when he took over!

Be glad of what you have, and stop bleeding moaning. Like Nick said above. Be glad we're not a Leeds or a Southampton!

 

[raul]

We are where we were when he took over!

 

[SotonBlade]

in terms of division i agree

 

[Jon Bon]

god i wish Keenzy owned the club! I'd feckin love SoaD to come out to!! (loved RAtM! [and Star Wars sadly!])

Slightly off topic I know but.... what he said. :thumbup:

 

[chipsncake]

We are where we were when he took over!

How right you are, and it makes you wonder what the overall cost to the club of appointing Robson compared to McCabe's investment (+ 10% interest of course) has been. Everyone (and I mean everyone) but McCabe and Robinson knew at the time that it would very quickly end in tears. As for Blackwell, most supporters now realise it was a cheap option for which we are now paying the price. We are suffering for the chairman's ineptitude in not being able to appoint the right manager. He may be a good businesman but he know's f/a about football and all this "we'll do it the Blades way" garbage is enough to make you sick. As for Birch, he was cringeworthy tonight and in one interview has totally alienenated himself from 99% of the fans who listened to him.

 

[alcoblade]

We are where we were when he took over!

We are where we were, but now £50M in debt. I feel totally gullible yet totally let down. When we embarked on these "investments" McCabe tended to do rights issues on the shares. I thought he was basically using investment to buy greater stakes in an ever bigger club. Then before you know it, we're £50M in debt.

Others may thank McCabe for this, but I don't. He's seen a business that he could pump money into via loans, and is taking that money back, with interest. How the fuck does that make him some sort of saviour? Write off the debt or at least take no interest - otherwise he's just another credit facility, a banker.

If we could write off the debt and scrap what we've had in return, who'd take it? I would. And before you answer, think on that we've had £35M through Tevez and Kyles. We'd be £85M in debt if it weren't for that. My God.

UTB

 

[Rustyblade]

Okay Alco but, as much as I have a go at McCabe, I try not to forget that he actually bought shares in the club to the value of around 50 mill and this was not a loan. That's quite some wad really.

 

[alcoblade]

Okay Alco but, as much as I have a go at McCabe, I try not to forget that he actually bought shares in the club to the value of around 50 mill and this was not a loan. That's quite some wad really.

Did he really? Have we had that benefit? He may have paid other shareholders for their shares, but that's a totally different issue. SUFC have not benefitted from this.

UTB

 

[Rustyblade]

I don't know enough about that to be able to argue forcibly but not all of that was for shares bought from existing shareholders, surely? Wasn't the majority of that new issue, direct from the club?

Help me out someone here.

 

[alcoblade]

I don't know enough about that to be able to argue forcibly but not all of that was for shares bought from existing shareholders, surely? Wasn't the majority of that new issue, direct from the club?

Help me out someone here.

The best I can offer;

He's bought some shares from shareholders and also done rights issues, effectively diluting existing holders but inflating the assets of the business. The whats and wherefores of that are difficult to decipher.

What we know is that we are were we were when he came, but with a £50M debt, some dubious infrastructure, and some handsome interest payments on the money McCabe is clawing back. It's difficult to paint a rosy picture of McCabe's tenure, as far as I'm concerned.

UTB

 

[Rudders]

Agreed - But cheats do prosper

Be glad of what you have, and stop bleeding moaning. Like Nick said above. Be glad we're not a Leeds or a Southampton![/QUOTE]

I'm glad for football and moral reasons that we are not a Leeds or Southampton.

They (cheats/failed clubs like Saints and Leeds) do prosper...

Whilst we struggle for years with paying off a £50m debt we could do what they did. Go into administration get docked a paltry 10 points. Sell business to ourselves through some dodgy scheme - emerge debt free and start buying players again (vis Leeds and Saints this year). Get on an upward trajectory (romp the lower leagues etc).

Even if they do go down a league or two they will be turned round quicker than us!

 

[lenners]

Be glad of what you have, and stop bleeding moaning. Like Nick said above. Be glad we're not a Leeds or a Southampton!

I'm glad for football and moral reasons that we are not a Leeds or Southampton.

They (cheats/failed clubs like Saints and Leeds) do prosper...

Whilst we struggle for years with paying off a £50m debt we could do what they did. Go into administration get docked a paltry 10 points. Sell business to ourselves through some dodgy scheme - emerge debt free and start buying players again (vis Leeds and Saints this year). Get on an upward trajectory (romp the lower leagues etc).

Even if they do go down a league or two they will be turned round quicker than us![/QUOTE]

Actually we can't do what they did because McCabe owns the club and most of the debt is to him - not third parties.
Administration would actually be a brilliant way of getting rid of McCabe's debt but not going to happen unless he's feeling very generous.

 

[Flatulent_Bob]

As for Birch, he was cringeworthy tonight and in one interview has totally alienenated himself from 99% of the fans who listened to him.

McCabe gets stick for putting a positive "spin" on everything and therefore not telling the truth.
Birch gives an interview and is negatively blunt about the current financial situation and he gets accused of spin and has now alienated 99% of all Blades fans.

You couldn't make it up.

 

[Micalijo]

He was just negative Bob. Dull, flat, boring, zero passion. OK it is not a nice subject and I guess his insolvency experience has told him not to sound upbeat when a company is in deep crisis but it was a joke. McCabe has shafted everyone of us with his property greed. Some can see it and have seen it for a while, others just clap away as if he's the Second Coming.

Interesting how the number of other clubs we don't want to turn into has diminished rapidly - because we are already like Coventry, Derby, Wendy, Watford etc. There used to be a very long list. Now it's only Leeds and Soton, (what about Charlton lads?) both of whom will be above us in 2 years and Leeds in about 7 months.

 

[Jim Chimmerney]

He was just negative Bob. Dull, flat, boring, zero passion.

And still you want O'Driscoll

 

[Micalijo]

I sure do!!!

Couldn't care less if I hear from a manager or not. He let's his team do the talking!! Good cliche? Birch let the debt do his talking so I suppose he did capture the general mood.

 

[Bramley]

We are where we were when he took over!

Disagree Raul, we've got an academy, really good ground. The club has come on leaps and bounds in terms of infrastructure.

If the new period of austerity brings anything, I'd like to see a lot more blooding of youngsters from the Academy and a slightly more progressive playing style.

UTB

 

[lenners]

Disagree Raul, we've got an academy, really good ground. The club has come on leaps and bounds in terms of infrastructure.

If the new period of austerity brings anything, I'd like to see a lot more blooding of youngsters from the Academy and a slightly more progressive playing style.

UTB

It's cost us £50m worth of debt to have an academy that produces players that are sold-off in the blink of an eye and a new corner stand and hotel.
While it's nice to have them it's very hard to argue that it should have cost that much.

 

[Jim Chimmerney]

I sure do!!!

Couldn't care less if I hear from a manager or not. He let's his team do the talking!! Good cliche? Birch let the debt do his talking so I suppose he did capture the general mood.

I've no doubt Birch will get results and do what he's been brought in to do whether we like it or not. At the end of the day, it's difficult to be passionate about debt !!

 

[mattbianco1]

I've just had a grunter text me. I'll quote... "Haven't heard it but apparently your new CE was on radio last night. Says your £48m in debt and only just made payments on loans last year." "Oh Dear!"

I then said that £26m was to McCabe which is what a chairman is for, to invest into the club so the debt is actually £22m.

His response "I'd still say what you owe McCabe is a debt. Bet he's lost shit loads on his property, he'll not want to just write it off. Could be said that you are now in a worse financial state than us! Everything you own is losing money!"

I argued the toss back but kinda think he's actually right?.... in the current climate! Maybe when the recession ends, we may start making money and our assets are worth sumat again. What assets do we have and what are they worth?

 

[robhundall]

We are where we were, but now £50M in debt. I feel totally gullible yet totally let down. When we embarked on these "investments" McCabe tended to do rights issues on the shares. I thought he was basically using investment to buy greater stakes in an ever bigger club. Then before you know it, we're £50M in debt.
UTB

Football clubs operate in a closed system. There are 92 of them in the professional leagues in this country, yet only 20 of them can be in the Premier League at any one time.

There are people in forums like this up and down the country who are livid that their club has squandered "their" money.

As I see it, football consumes every bit of money that you can throw at it. Give each club another £500 million each and it will still be spent. All that would happen is that players would get richer and grounds would be "nicer". There would still be only 20 teams in the top flight, and the ones outside of it would be seen to have squandered their inheritance.

Clubs just don't have surpluses sitting in the banks or invested in anything.

At the end of the day, luck plays a massive part in football because it is still a game of fortune. The "bigger" teams tend to do "better" because they have a disproportionate amount of the turnover, but that certainly doesn't guarantee success, and over a period of time they will all fail.

Hopefully (and that is all we mere mortals ever really have, hope) we will one day get lucky again by having a team that is better over a whole season than our peers. The money is merely a distraction.


Rob