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Thread: Sustainability or bank rolling

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  1. #1
    Join Date
    Jul 2011
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    12,046
    The club has never had any money throughout its entire history but up until the last 5 years it's always done it's utmost to succeed on the pitch. These last 5 years have been purely and simply about making money and trying to brainwash supporters that the only way to make ends meet is by operating like this.

  2. #2
    Join Date
    Dec 2012
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    18,573
    Quote Originally Posted by pass_and_move View Post
    The club has never had any money throughout its entire history but up until the last 5 years it's always done it's utmost to succeed on the pitch. These last 5 years have been purely and simply about making money and trying to brainwash supporters that the only way to make ends meet is by operating like this.
    Im no fan of these owners but what other way is there for the club to be self sustainable. Before the consortium came along we were very reliant on funding from Patrick Cryne who put £11m into the club over 10 yrs in share capital mainly. For obvious reasons he felt he couldn’t continue to do this and we needed a new way of operating hence changing the recruitment policy. We still lose money now.

  3. #3
    Join Date
    May 2012
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    10,287
    Quote Originally Posted by EastStandRed View Post
    Im no fan of these owners but what other way is there for the club to be self sustainable. Before the consortium came along we were very reliant on funding from Patrick Cryne who put £11m into the club over 10 yrs in share capital mainly. For obvious reasons he felt he couldn’t continue to do this and we needed a new way of operating hence changing the recruitment policy. We still lose money now.
    Looked up the meaning of "share capital" because frankly I'm not fully conversant with the term & this is what I read

    Share capital refers to the funds that a company raises in exchange for issuing an ownership interest in the company in the form of shares.

    Can someone explain who else had an ownership interest in the club under these circumstances

  4. #4
    Join Date
    Dec 2012
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    Quote Originally Posted by Exiletyke View Post
    Looked up the meaning of "share capital" because frankly I'm not fully conversant with the term & this is what I read

    Share capital refers to the funds that a company raises in exchange for issuing an ownership interest in the company in the form of shares.

    Can someone explain who else had an ownership interest in the club under these circumstances
    Nobody else, you can put your own money into your own business as share capital instead of a loan. It means the business gets a cash injection but isn’t saddled with regular loan payments

  5. #5
    Join Date
    May 2012
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    10,287
    Quote Originally Posted by EastStandRed View Post
    Nobody else, you can put your own money into your own business as share capital instead of a loan. It means the business gets a cash injection but isn’t saddled with regular loan payments
    So why not share the burden by inviting investors to "put money in" in exchange for a share in the business?
    But we all know that Cryne & his board were so few in numbers which does suggest he wanted to keep things for himself

  6. #6
    Join Date
    Sep 2015
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    26,822
    Quote Originally Posted by bill46 View Post
    I mentioned those two as an example both in there own right spending way above there income and look at them now.
    That's not exactly right is it Bill ? , you chose the most extreme financial mismanagement of a football club to support your view .

    Nobody that I know is supporting the club gambling millions and millions of pounds with the club's future .

  7. #7
    Join Date
    May 2009
    Posts
    5,804
    Bill. Your optimism is great. Misguided, but great!
    When they sold three of the best five players we had last season to rivals, the writing was on the wall.
    In July they’ll do the same. Rather than “let’s dip in and weather this storm” . A storm they have confirmed today that they will allow us to go out in, wearing only what WE supporters can afford.
    Which is basically a pair of undies.
    Meanwhile they Have enough money to buy an umbrella, yet refuse to buy one at the same time as selling the warm coats we have in the wardrobe and running off with the cash.

    Their Philosophy is ... Let the supporters keep it alive long enough for us to realise our assets. Then we will let it fold and it’ll cost us less. A bit like Thomas Cook taking bookings, the night before it collapsed. Only there’s no ABTA for season passes mate.

    Your choice Bill. I admire your optimism. I won’t criticise you for your support.

  8. #8
    Join Date
    Sep 2015
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    I can sum up the ownership in one paragraph .

    They don't associate football with winning football games , they associate football with money .

  9. #9
    Join Date
    Feb 2013
    Posts
    22,423
    Morning Bill, it looks like it's down to you mate ,to give us a fans view ( of any matches you may get to see ) , most on here will give their view's via Quest or Sky of the games , admire your dedication and loyalty , I still think we will avoid the drop , but that could be down to my medication !! Keep safe Keep well , and Forza di Reds UTFLWG

    P S i won't be watching this Iplayer thing either ,

  10. #10
    Join Date
    Mar 2012
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    19,183
    Quote Originally Posted by Romared View Post
    Morning Bill, it looks like it's down to you mate ,to give us a fans view ( of any matches you may get to see ) , most on here will give their view's via Quest or Sky of the games , admire your dedication and loyalty , I still think we will avoid the drop , but that could be down to my medication !! Keep safe Keep well , and Forza di Reds UTFLWG

    P S i won't be watching this Iplayer thing either ,
    Serious question mi owd-

    What odds would tha give onnuz stopping up ?

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