Mounting debts

[lansdowneoldskool]

3 different loans in 3 months for 5million pounds against the stadium. It's not sustainable.

[cazzaswfc]

Didn't we know this 2 months ago, have you only just found out B)

No championship clubs losses are, yet our losses are probably a hell of a lot less than most.

But like you all say, it's not debts when it's owed to your chairman. ;D

[lansdowneoldskool]

The loans are external debts taken against the stadium. How long before you're insolvent again?

[helmut_rooster]

The loans are external debts taken against the stadium. How long before you're insolvent again?

Our new Arab Owners will sort that fear not.

[Rotherhamowl10]

I believe the loans are to be paid back by September this year, the fact they need to be repaid back in such a short period of time gives me confidence that Milan has used the money to cover some sort of short term cash flow issue, or to fund the recent loan signings…who knows to be honest, but as said, compared to other Championship clubs, a loss of 4 million pounds is minimal.

I've looked at our accounts from last year and you can still see the financial issues which are still there due to past board members poor business decisions. Our non-match day commercial revenue is appalling compared to other clubs; this is mainly down to Lindleys having both the catering and corporate contracts - which were sold years ago to provide much needed funds. I believe we tried getting out of the contract under Strafords reign and used beres (who's catering service was 10 times better) but the compensation money required to get out of the contract with Lindleys, and provide the service in-house actu

[braggyowl]

3 different loans in 3 months for 5million pounds against the stadium. It's not sustainable.


Don't worry.


We'll be ok.


;)

[lansdowneoldskool]

[quote="Rotherhamowl10"]I believe the loans are to be paid back by September this year, the fact they need to be repaid back in such a short period of time gives me confidence that Milan has used the money to cover some sort of short term cash flow issue, or to fund the recent loan signingsa??who knows to be honest, but as said, compared to other Championship clubs, a loss of 4 million pounds is minimal.

I've looked at our accounts from last year and you can still see the financial issues which are still there due to past board members poor business decisions. Our non-match day commercial revenue is appalling compared to other clubs; this is mainly down to Lindleys having both the catering and corporate contracts - which were sold years ago to provide much needed funds. I believe we tried getting out of the contract under Strafords reign and used beres (who's catering service was 10 times better) but the compensation money required to get out of the contrac

[Rotherhamowl10]

You are trying to indicate that these loans were taken out due to us being skint, even claiming it is an advance on season ticket money…yet it is all speculation. My personal view is that the funds were used for player recruitment (loans) to steer us away from the relegation zone, whereas MM has funded this in the past, it wouldn't make sense him doing so again considering he is trying to sell the club.

But I will put my trust in an extremely successful businessman - rather than a rival fan claiming to know it all- who has history with buying football clubs and selling them on. The amount and durations of the loans don’t cause me to panic or worry about it…unlike yourself. Try not to get too agitated, we will be ok.

[lansdowneoldskool]

You are trying to indicate that these loans were taken out due to us being skint, even claiming it is an advance on season ticket moneya??yet it is all speculation. My personal view is that the funds were used for player recruitment (loans) to steer us away from the relegation zone, whereas MM has funded this in the past, it wouldn't make sense him doing so again considering he is trying to sell the club.

But I will put my trust in an extremely successful businessman - rather than a rival fan claiming to know it all- who has history with buying football clubs and selling them on. The amount and durations of the loans dona??t cause me to panic or worry about ita??unlike yourself. Try not to get too agitated, we will be ok.

I'm not claiming to know it all - the figures are from the accounts just published where Wednesday are borrowing 5m pounds to lose 4m pounds. Do you think Milan is prepared to put in any more money?
As for

[Rotherhamowl10]

We are in a far better position than most Championship clubs. The accounts show that we're a more efficient business than last time and are sustaining smaller losses; despite the loans that we have taken out. We're heading in the right direction, but still have plenty of work to do.

The net debt to Milan is now over 10m, I believe any potential investor would have to clear the loans (15m), overdraft (1.5m) and any other costs which may be added from agreed contracts with our creditors (Allen, Co-op). He's still only in for a little over 20m, which could be returned overnight if you get promotiona;yes, the possibility is slim, but the Blackpools, Crystal Palace's and Burnleys have managed to 'get lucky'.

We are well placed to deal with the FFP - how many other clubs can say that? Long term I am sure Milan has a vision should investment not come. The 4 million loss per year is pennies compared to other clubs. The club is running at capacity and to bring that cost down, we need investme

[braggyowl]

Top post roth...;)

[lansdowneoldskool]

Mandaric blames himself for the demise of his beloved Pompey:

http://www.portsmouth.co.uk/sport/pompey/mandaric-my-pompey-pain-1-3929187


https://dalyhistory.wordpress.com/2010/02/26/

[Rotherhamowl10]

Mandaric blames himself for the demise of his beloved Pompey:

http://www.portsmouth.co.uk/sport/pompey/mandaric-my-pompey-pain-1-3929187


https://dalyhistory.wordpress.com/2010/02/26/

He blames himself, but how was it his fault? how was he suppose to see 4 years into the future?

What happened at Portsmouth is the reason why Milan won't sell us to just anybody. The passion in that article from him tells you a lot about him.

[lansdowneoldskool]

A further season of losses since the figures came out for May 2013. 3 loans totalling 5m pounds on top of a fall in attendances of almost 11%. On a plus side Wendy are averaging 111 fans more per game in the championship than League One. No wonder Mandy wants rid.

[lansdowneoldskool]

Mandaric blames himself for the demise of his beloved Pompey:

http://www.portsmouth.co.uk/sport/pompey/mandaric-my-pompey-pain-1-3929187


https://dalyhistory.wordpress.com/2010/02/26/

He blames himself, but how was it his fault? how was he suppose to see 4 years into the future?

What happened at Portsmouth is the reason why Milan won't sell us to just anybody. The passion in that article from him tells you a lot about him.[/quote]

4 years? Mandy had Gaydamak in as co-owner before he sold it to him: - view external link (http://www.dailymail.co.uk/sport/football/article-1060199/Premier-League-quiz-Pompey-alleged-arms-dealer-Arkadi-Gaydamak-real-powe)

[Rotherhamowl10]

I thought we were discussing MM Portsmouth days?...or have you accepted that an article with the title 'Mandaric blames himself for the demise of his beloved Pompey' was very misleading and more of a 'if only I could have predicted the future and not sold the club to them' article.

£1.5m loan from Terry Brown, extension of a £2m loan from Zahavi and a £1.5m overdraft facility just to be clear.

As for your claim of 'further losses', you forget we haven't spent £1.7m on player registrations this term. The Helan and COG deals didn't happen until after May 31st - not 100% sure if the sale of COG was before this though?

The FA cup run will have made the club a healthy profit and match day ticket prices have increased, which will probably just about break even on the loss on attendance. So our next accounts should actually show a further reduction of losses.

Mandy wants rid as he is a businessman, unlike Mcsue he still has a return on his investment.The only people who throw money at foo

[lansdowneoldskool]

Have you not paid for any of your signings this year?

[Owler]

Have you not paid for any of your signings this year?

Of course we haven't, we've sent a IOU on a slip of paper.;D

[hirstyboywonder]

Have you not paid for any of your signings this year?

Not seen a great deal of you on here for a while, funny that.

As for our accounts, as has been pointed out to you in this thread, football clubs at our level generally suffer losses. In comparison to most of the division our accounts are actually quite good.
As FFP starts to take force, turnover and player wages ratio's are important.
With a turnover of over 14.9M and wages of less than 11.9M ours are going in the right direction and wouldn't be surprised if this has been reduced this season.

One club based near Sheffield city centre had accounts that showed these figures:
Turnover 8.8M, wages 8.8M.

They also showed loss of over 4M despite as their Chairman pointed out in his statement, being funded by 'significant personal investment' and having brought in a surplus of over 3M in transfers.

They do of course have a bog roll billionaire with funding said to be akin

[Rotherhamowl10]

Have you not paid for any of your signings this year?

Not to the sum of 1.7 million.

[aussieowl]

[quote="Rotherhamowl10"]We are in a far better position than most Championship clubs. The accounts show that we're a more efficient business than last time and are sustaining smaller losses; despite the loans that we have taken out. We're heading in the right direction, but still have plenty of work to do.

The net debt to Milan is now over 10m, I believe any potential investor would have to clear the loans (15m), overdraft (1.5m) and any other costs which may be added from agreed contracts with our creditors (Allen, Co-op). He's still only in for a little over 20m, which could be returned overnight if you get promotiona;yes, the possibility is slim, but the Blackpools, Crystal Palace's and Burnleys have managed to 'get lucky'.

We are well placed to deal with the FFP - how many other clubs can say that? Long term I am sure Milan has a vision should investment not come. The 4 million loss per year is pennies compared to other clubs. The club is running at ca

[lansdowneoldskool]

[quote="aussieowl"]We are in a far better position than most Championship clubs. The accounts show that we're a more efficient business than last time and are sustaining smaller losses; despite the loans that we have taken out. We're heading in the right direction, but still have plenty of work to do.

The net debt to Milan is now over 10m, I believe any potential investor would have to clear the loans (15m), overdraft (1.5m) and any other costs which may be added from agreed contracts with our creditors (Allen, Co-op). He's still only in for a little over 20m, which could be returned overnight if you get promotiona;yes, the possibility is slim, but the Blackpools, Crystal Palace's and Burnleys have managed to 'get lucky'.

We are well placed to deal with the FFP - how many other clubs can say that? Long term I am sure Milan has a vision should investment not come. The 4 million loss per year is pennies com

[Rotherhamowl10]

[quote="aussieowl"]We are in a far better position than most Championship clubs. The accounts show that we're a more efficient business than last time and are sustaining smaller losses; despite the loans that we have taken out. We're heading in the right direction, but still have plenty of work to do.

The net debt to Milan is now over 10m, I believe any potential investor would have to clear the loans (15m), overdraft (1.5m) and any other costs which may be added from agreed contracts with our creditors (Allen, Co-op). He's still only in for a little over 20m, which could be returned overnight if you get promotiona;yes, the possibility is slim, but the Blackpools, Crystal Palace's and Burnleys have managed to 'get lucky'.

We are well placed to deal with the FFP - how many other clubs can say that? Long term I am sure Milan has a vision should investment not come. The 4 million loss per year is pennies com

[aussieowl]

[quote="Rotherhamowl10"]We are in a far better position than most Championship clubs. The accounts show that we're a more efficient business than last time and are sustaining smaller losses; despite the loans that we have taken out. We're heading in the right direction, but still have plenty of work to do.

The net debt to Milan is now over 10m, I believe any potential investor would have to clear the loans (15m), overdraft (1.5m) and any other costs which may be added from agreed contracts with our creditors (Allen, Co-op). He's still only in for a little over 20m, which could be returned overnight if you get promotiona;yes, the possibility is slim, but the Blackpools, Crystal Palace's and Burnleys have managed to 'get lucky'.

We are well placed to deal with the FFP - how many other clubs can say that? Long term I am sure Milan has a vision should investment