A New Day Dawns...

[wanderlust]

Swiss I do understand that we need to balance the books, but if we sell our assets too cheaply then the balancing of the books is going to take longer.
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There are so many ways in which a club can quickly find the task getting harder if the finances aren't kept under control - nasty shocks like points deductions that can sink your season before it starts. In your case there are debts to be serviced and given that no money was squirreled away whilst you were in the prem (presumably - otherwise why the debts?) you have to deal with an expensive prem cost infrastructure suddenly having a considerably reduced income to offset it - which will continue to reduce as parachute payments dwindle away.
Some clubs gamble the ranch on getting straight back up but the risk is humungous and the penalties brutal.
Selling assets cheaply sure doesn't help - but you can only get what is offered and TBH if you show any sign of financial weakness, other clubs circle like sharks.
I guess what I'm trying to say is that outside the prem, the financial risks rise disproportionately - way beyond the obvious initial loss of income - so balancing the books is the cornerstone.

[sinkov]

given that no money was squirreled away whilst you were in the prem (presumably - otherwise why the debts?)

Money was squirrelled away, £50 million of it over a period of about three years, while next to nothing was invested on the playing side. That money, plus loans, was used to finance the takeover of the club by ALK. So we've gone from being a PL club with £50 million in the bank and debt free, to being loaded with debt and in the Championship.

Neverthless, some of our fans are quite happy with the way our new owners are operating. Why they are is way beyond my comprehension, I just despair.

[The Bedlington Terrier]

Money was squirrelled away, £50 million of it over a period of about three years, while next to nothing was invested on the playing side. That money, plus loans, was used to finance the takeover of the club by ALK. So we've gone from being a PL club with £50 million in the bank and debt free, to being loaded with debt and in the Championship.

Neverthless, some of our fans are quite happy with the way our new owners are operating. Why they are is way beyond my comprehension, I just despair.

It is what it is mon ami. How and if Pace can get us out of the catastrophic financial consequences of being relegated will be of equal interest to seeing how and if Vinny can successfully blend the experienced players with the young incomers and somehow get us back in the EPL.

Personally I was never that fond of our time in the EPL. Too many squeaky bum times for me!

[ClaretinBudapest]

Money was squirrelled away, £50 million of it over a period of about three years, while next to nothing was invested on the playing side. That money, plus loans, was used to finance the takeover of the club by ALK. So we've gone from being a PL club with £50 million in the bank and debt free, to being loaded with debt and in the Championship.

Neverthless, some of our fans are quite happy with the way our new owners are operating. Why they are is way beyond my comprehension, I just despair.

I think a lot more was robbed from the club Sinkov.If we spent 6 seasons in the PL and in the last 3 seasons barely invested in the playing squad yet Garlick has only £50m and the club has Gawthorpe to show for it? Now we have a £65m debt to be repaid which is just part of the debts.
It was supposed to be the land of milk and honey where every club strives to get because of the financial benefit.Something does not add up.