where has the money problems come from?

[davidpinder]

Another example of united blaming money on not signing. You hear different didn't reports on fees the rest off the sufc.co.uk so hear goes.

Money in since blackwell
Tonge 2m
Beattie 3.5m
Kyles 7-9m
Howard 500k
Bromby 350k
Armstrong 500k
Carney 500k
Hulse 1.75m
Shelton 1m
West Ham for tevez 4m at the moment
Total 22m give or take

Money paid out including add ons

Evans 3m
Taylor 300k
Ward 330k
Williamson 500k
Howard 750k
Cotts 1m
Henderson 2m

Total 7.880m

I canceled out the bromby watford in and out.

I know this has been done before but i am just wondering why we can not afford to even loan in now. Blackwells comments

Blackwell, who showed his own maturity as a manager by shielding his makeshift team from blame after the 3-0 defeat at Blackpool, has had to ditch moves for more emergency loans in the shape of Stoke's Michael Tonge and Birmingham's Gary McSheffrey.

"Financially, I don't think we're in a position to do anything at the moment,"
he said.


IF I HAVE MISSED ANY OFF I DOUBT IT WILL GET NEAR 2M NEVER THE 15M DIFFERENCE.:thumbdown:

 

[metalblade]

We must be really skint, I got a phone call from the club at 5.45 last night asking me to re-join the Blades superdraw. I duly told them where to stuff the offer.

 

[raul]

I understand there are notices in the Hotel asking guests to use both sides of the paper in the loos too.

 

[Sensiblade]

Another example of united blaming money on not signing. You hear different didn't reports on fees the rest off the sufc.co.uk so hear goes.

Money in since blackwell
Tonge 2m
Beattie 3.5m
Kyles 7-9m
Howard 500k
Bromby 350k
Armstrong 500k
Carney 500k
Hulse 1.75m
Shelton 1m
West Ham for tevez 4m at the moment
Total 22m give or take

Money paid out including add ons

Evans 3m
Taylor 300k
Ward 330k
Williamson 500k
Howard 750k
Cotts 1m
Henderson 2m

Total 7.880m

I canceled out the bromby watford in and out.

I know this has been done before but i am just wondering why we can not afford to even loan in now. Blackwells comments

Blackwell, who showed his own maturity as a manager by shielding his makeshift team from blame after the 3-0 defeat at Blackpool, has had to ditch moves for more emergency loans in the shape of Stoke's Michael Tonge and Birmingham's Gary McSheffrey.

"Financially, I don't think we're in a position to do anything at the moment,"
he said.


IF I HAVE MISSED ANY OFF I DOUBT IT WILL GET NEAR 2M NEVER THE 15M DIFFERENCE.:thumbdown:

I'd say we can't afford to loan as it would be a waste of money on at least one loanee we already have at the club (only 5 are useable per match).

We are down by £5million a year (I believe) on parachute payments.
The West ham money is paying for general running costs (I think).

Also if the club are trying to pay back any debt's they have quicker than was initially expected (which has been mentioned in other threads) then that money will not be available but will benefit the club in the long run by wiping the debt off the books.

It's not a case of whatever is brought in by sales of players is automatically available for transfers.

 

[beightonblade]

check out the interest rate McCabe charges

 

[Jim Chimmerney]

Another example of united blaming money on not signing. You hear different didn't reports on fees the rest off the sufc.co.uk so hear goes.

Money in since blackwell
Tonge 2m
Beattie 3.5m
Kyles 7-9m
Howard 500k
Bromby 350k
Armstrong 500k
Carney 500k
Hulse 1.75m
Shelton 1m
West Ham for tevez 4m at the moment
Total 22m give or take

Money paid out including add ons

Evans 3m
Taylor 300k
Ward 330k
Williamson 500k
Howard 750k
Cotts 1m
Henderson 2m

Total 7.880m

I canceled out the bromby watford in and out.

I know this has been done before but i am just wondering why we can not afford to even loan in now. Blackwells comments

Blackwell, who showed his own maturity as a manager by shielding his makeshift team from blame after the 3-0 defeat at Blackpool, has had to ditch moves for more emergency loans in the shape of Stoke's Michael Tonge and Birmingham's Gary McSheffrey.

"Financially, I don't think we're in a position to do anything at the moment,"
he said.


IF I HAVE MISSED ANY OFF I DOUBT IT WILL GET NEAR 2M NEVER THE 15M DIFFERENCE.:thumbdown:

One thing which is crucial to your list is;

a) Budget before Blackwell

loss of Sky money

b) Budget now

if the difference between a) and b) is £10M then it's easy to see where the difference is, you can't just say we've brought x in and only spent y so where's the money gone.

 

[davidpinder]

One thing which is crucial to your list is;

a) Budget before Blackwell

loss of Sky money

b) Budget now

if the difference between a) and b) is £10M then it's easy to see where the difference is, you can't just say we've brought x in and only spent y so where's the money gone.

Sky money must be better this year there seems to be more games or is that just me. I know you cant just play one against the other i was just making the point we can't afford to even loan we must be badly skint.

 

[Sensiblade]

Sky money must be better this year there seems to be more games or is that just me. I know you cant just play one against the other i was just making the point we can't afford to even loan we must be badly skint.

I think we would get bonus' for TV money if picked for a BBC game, but that's unlikely unless they pick our games against Newcastle!

 

[Isiah]

According to a post yesterday quoting Jason Rockett we have also made a "net" £6M on property related investments. As I said then though, not sure whether this money is available for football related investment.
Oh and there's also the money from the play-offs.

 

[metalblade]

Maybe it's the fact that we already have 6 on loan and can only play 5.

 

[Sensiblade]

Maybe it's the fact that we already have 6 on loan and can only play 5.

'Cough' 'Cough'

I'd say we can't afford to loan as it would be a waste of money on at least one loanee we already have at the club (only 5 are useable per match).

 

[Jim Chimmerney]

Sky money must be better this year there seems to be more games or is that just me. I know you cant just play one against the other i was just making the point we can't afford to even loan we must be badly skint.

I meant parachute payments. I think we get £500K a game or something now but I'm talking about the loss of £11M.

You could of course look at it another way and say that the loss has been mainly cushioned by the Kyle(s) sales then all of a sudden, the fact we've reduced the overall budget and still spent £4M means we're not as badly off as people think

Back to your point, I just think they're saying that loans are dead money, a lot paid out over a short period without no real benefit to the club (finance wise).

 

[Flatulent_Bob]

check out the interest rate McCabe charges

But who owns the freehold eh Beighton:thumbdown:

It is a point I've laboured on before but I'll give it another go.
We are in a position as a club where we are looking at Premiership quality players in order to improve the squad.
I know we've had some poor results recently which I would say injuries to the first team have certainly contributed to. We aren't loaded with money although I don't think things are as bad as some of the doom mongers seem to think we obviously can't afford to have really good championship or ex-premiership talent on the bench pulling very good wages eg Hulse.
So we have our injuries and suspensions but we can't bring in replacements that are of a similar standard because you are going to have to pay a decent level in wages and once everyone is back from injuries you have a two players of similar ability on decent wages and again the wage bill is high without actually getting top talent.
Look at the fit first team squad : Paddy, Walker, Killa, Morgan, Naysmith, Treacey, Harper, Monty, Ward, Evans, Hendo; Camara, Quinny, Cotts, Little, Fortune, Cresswell, Bennett.

Not many of those player will be on the lower end of the wage scale for this division so when we are bringing someone in they need to be better and will therefore cost more both in terms of fee and wages. Most of these types of player are currently sat on Premiership benches or in their reserve teams and most don't want to drop down the divisions and take a pay cut. Therefore there is little or no point a club like ours trying to get in these players in the summer as they aren't going to take the risk. We are better keeping our money and forming a workmanlike squad until January at which time you aim to be in the playoff spots and then are more attractive to the types of players we are trying to attract.

Of course we could spend sod all again in January and do nothing, but it's just a theory of mine.
I think Championship clubs stand a better chance of recruiting talent from the Premiership in January rather than in the summer which as ever is the best time to sell.

 

[Sensiblade]

But who owns the freehold eh Beighton:thumbdown:

He always brings up the interest rate, which was not a bad one at the time the loan was taken out.

Look at my mortgage interest rate 5. something % but there is jack chit I can do about it as it's locked for a few more years, meh.

 

[Flatulent_Bob]

He always brings up the interest rate, which was not a bad one at the time the loan was taken out.

Look at my mortgage interest rate 5. something % but there is jack chit I can do about it as it's locked for a few more years, meh.

Ah but stating the rate allows Beighton to tell his "I took out a loan for a similar amount and didn't pay that" story, which he loves to tell because it makes out he is loaded.

Unprovable and irrelevant boasting on the internet is always a winner.
If you feel the need to boast about your monetary achievements to complete strangers it really does say something about your true feelings on your own self worth.

 

[Sothall_Blade]

IF I HAVE MISSED ANY OFF I DOUBT IT WILL GET NEAR 2M NEVER THE 15M DIFFERENCE.:thumbdown:

You missed out Stead (£600K?), Alan Quinn (£300K?) and didn't we get an extra £500K for Beattie when Stoke stayed up?

Also, the combined fee for Naughton and Walker was £8M guaranteed and £2M based on appearances (so £8M then!). These figures were confirmed by McCabe at the Q&A session according to the transcripts (thanks again Linz and Foxy).

By the same token, United talk about the "ambitious" £3M we've spent on Evans but it's actually still £1.5M, as he's hardly made any appearances yet.

When you consider the amount of transfer profit Blackwell has been expected to make over the last 2 years, 3rd last season and mid-table this year are probably the best we could realistically expect.

 

[Silent Blade]

IF I HAVE MISSED ANY OFF I DOUBT IT WILL GET NEAR 2M NEVER THE 15M DIFFERENCE.:thumbdown:

Cant believe you have forgotten our wage structure that was started under Robson's management. Wages are now much higher than transfer fees

 

[Houso]

I just thank the lord every day for the talented series of accountants who visit the Sheffield United forums. They really should be employed by the government to assist with the economic crisis we find ourselves in.

In other news, did you know that when you buy a Snickers, you're only paying for the chocolate seeing as it's a chocolate bar? WHERE DOES ALL THE REST OF THE MONEY GO SNICKERS YOU THIEVING BASTARDS?!?!?!

 

[beightonblade]

He always brings up the interest rate, which was not a bad one at the time the loan was taken out.

Look at my mortgage interest rate 5. something % but there is jack chit I can do about it as it's locked for a few more years, meh.

Not a bad one ..........yer havin a laugh.... at the same time from the same bank little owd me arranged a commercial term loan 300% cheaper than McWobblegob charged the Blades !

Explain that !

 

[Sensiblade]

Not a bad one ..........yer havin a laugh.... at the same time from the same bank little owd me arranged a commercial term loan 300% cheaper than McWobblegob charged the Blades !

Explain that !

what % was it, not the % difference, but the actual % of the loan?

 

[Bladesman]

You missed out Stead (£600K?), Alan Quinn (£300K?) and didn't we get an extra £500K for Beattie when Stoke stayed up?

Also, the combined fee for Naughton and Walker was £8M guaranteed and £2M based on appearances (so £8M then!). These figures were confirmed by McCabe at the Q&A session according to the transcripts (thanks again Linz and Foxy).

By the same token, United talk about the "ambitious" £3M we've spent on Evans but it's actually still £1.5M, as he's hardly made any appearances yet.

When you consider the amount of transfer profit Blackwell has been expected to make over the last 2 years, 3rd last season and mid-table this year are probably the best we could realistically expect.

There thats a reason he isnt being played as much. So we dont have to pay City the extra money perhaps?

 

[raul]

In other news, did you know that when you buy a Snickers, you're only paying for the chocolate seeing as it's a chocolate bar? WHERE DOES ALL THE REST OF THE MONEY GO SNICKERS YOU THIEVING BASTARDS?!?!?!

Makes no sense whatsoever. Booooooooooooo.:fishbowl::fishbowl:

 

[Houso]

Makes no sense whatsoever. Booooooooooooo.:fishbowl::fishbowl:

I wrote it just for you. Have a fish.

:fishy:

 

[Sensiblade]

I found this quite easily

http://www.sufc.co.uk/staticFiles/18/71/0,,10418~94488,00.pdf

Quite an interesting note in it.

With the exception of Kevin McCabe through the Scarborough Investors (which he controls
with his immediate family and related trusts), all existing Directors have confirmed that they are unwilling
to contribute materially to a capital raising exercise.

This is Probably the section BB is referring to about 300% above what he can get a loan for.

Interest
Subject to the terms of the Inter-creditor Deed referred to in paragraph 9 below, the Company shall
pay interest on the principal amount of the Convertible Loan Notes, together with any accrued but
unpaid interest, at 3 per cent. per annum above the base lending rate of the Bank of Scotland from
time to time (calculated on a day to day basis) less any tax required to be deducted by law and payable
monthly in arrears on the last business day in each month provided that the first payment of interest
on the Convertible Loan Notes, which will be made on 31 January 2007, will be in respect of the
period from the date of issue of the Convertible Loan Notes to 31 January 2007 (both dates inclusive).
Interest will be payable until the Convertible Loan Notes are redeemed and/or converted pursuant to
the provisions of the Convertible Loan Notes Instrument.

But i'd assume that it's not just McCabe that has to agree to that but all the directors and as it wasat the time all the shareholders too.

This bit made me chuckle

Over the past 18 months, the Group has embarked on a strategy of developing diversified business interests,
the financial performance of which are not reliant upon success on the pitch.

That is from 2006 though.

 

[Mad Mick]

This any good.
http://www.bankofscotlandbusiness.co.uk/importantinfo/interest_rates.asp
I suppose in theory we may be paying 3.5%. But there is possibly a floor/collar on the rate.
How much is BB paying?

 

[Sensiblade]

This any good.
http://www.bankofscotlandbusiness.co.uk/importantinfo/interest_rates.asp
I suppose in theory we may be paying 3.5%. But there is possibly a floor/collar on the rate.
How much is BB paying?

Cheers for that
Not sure, he never actually backs his posts up with facts so could be anything really.

 

[beightonblade]

Nope yer wrong sensi........................

check the clubs accounts its there in black and white............ McCabe ripped us off with the interest rates he charges on loans.

I borrowed from the Bank of Scotland at 1% over BOE base rate (not libor) McWobblegob charged the Blades 300% more in interest charges.

Sum fookin Blade !

 

[Sensiblade]

Nope yer wrong sensi........................

check the clubs accounts its there in black and white............ McCabe ripped us off with the interest rates he charges on loans.

I borrowed from the Bank of Scotland at 1% over BOE base rate (not libor) McWobblegob charged the Blades 300% more in interest charges.

Sum fookin Blade !

so 3% then?!
300% of 1 = 3
So not exactly credit card 12.5%+ type charging?

 

[beightonblade]

so 3% then?!
300% of 1 = 3
So not exactly credit card 12.5%+ type charging?

have a look how much he has loaned the club !
do the maths and calculate how much more he has charged than the Bank of Scotland were lending money at !

credit card ? sum fookin credit card with £millions on it.

as i say sum fookin Blade !

 

[Sensiblade]

have a look how much he has loaned the club !
do the maths and calculate how much more he has charged than the Bank of Scotland were lending money at !

as i say sum fookin Blade !

Have you got a link to the accounts I could look at now?