Carlisle United Football Club is dying

[_Stefan_Kuntz]

Even if we ignore the debt to Pioneer (and why would we do that) the club, 1921, has debt in excess of £2.7 million. This debt is to Phillip Day's Purepay. He wants all of that money back immediately. Nobody can dispute on either moral or legal grounds the right of Purepay to demand that money back forthwith.

It is clear that although 1921 made significant profits (purely from transfers) in the 2 consecutive years to 30th June 2021 the club has used much of that cash and credible people are stating that 1921 now has less than £250,000 cash. Typically 1921 makes annual losses much greater than £250,000.

None of Cumbria's biggest / best businesses will provide sponsorship / advertising revenue to the club nor will they provide other benefits such as free or discounted goods / services. This is because they have no confidence in the key Holdings board members and thus will not support this regime.

How can this debt to Purepay be paid and the club move forward? Well, it cannot be paid from normal trading revenue, it will not be paid by Andrew Jenkins and it is nonsense to rely on Henderson / Branthwaite being transferred. 1921 may well cease to exist before these transfers occur if they ever occur in the best value moment of the respective careers of these players.

No prospective new owner will want to pay off the debt because it represents the accumulation of the follies of the current ownership. Would you want to pay off that debt and have The Three walk away laughing?

The real value of all the club's assets minus its liabilities is a negative figure. Its annual income minus its expenditure is a substantial loss.

So, PD's Purepay wants paying immediately, the club cannot pay now or probably ever and meanwhile the club has very weak streams of revenue such that it always makes a substantial annual loss and has the constantly heavy financial burden of keeping Brunton Park up to the standards imposed by the EFL.

Carlisle United Football Club is dying.