Sure, and I'm not looking to start an argument, but our loans are secured against the parachute payment meaning they have first claim against that money if we haven't paid through another route. To get them to lengthen the term of repayment so we can spend some/most of that parachute money, we would need to offer security against something else given no more parachute monies. The lower our income drops and the more we sell assets without paying off the debt, the more difficult to ever pay off the debt. If we reach a point where we still have a £50m 3rd party debt, have sold Sarr & Pedro and have no material player assets left, and are on the regular champ tv/gate money presumably operating at a loss, we are well and truly up s*** creek without a paddle. Hopefully the Board don't just assume promotion/new investment will arrive as the cavalry to clear the debt.
That's a bit of an underestimate. In the early Pozzo days we turned over £16.69m in 2013/14 and £18.393m in 2014/15. However, wages at that point were only about £12m.
I’d imagine for any lender loaning money against premier league parachute payments is a no brainer in terms of risk, there is very little to no risk of the PL or Sky going bust and them not getting the cash, and if anything happened to us they’d still get it as well. Beyond that once that money has disappeared I think we’d be seen as a huge risk to lend money to, it would have to be secured against something, but what? And what would the interest payments be?
Either way, it’s not going to be more than £20m, which makes it very difficult to be able to restructure any debt in the first place, and if we even could be able to manage the interest/repayments alongside our normal cost base.
Not an argument, but too much focus is being placed on one part of something I said. There is an option to restructure some of the debt along with the other things I mentioned. Whether they do that is another matter, but they’ve restructured debt quite a lot over the years, so it’s not something I’m convinced they wouldn’t do again.
Sure, OK, they have many times, but they've always had guaranteed prem or parachute monies available to secure against, and it will soon be the first time for >10 years that they'll have neither. Hopefully it doesn't come to that (promotion, asset sale, or new investment).
The thing is, we are never going to be an established Premier League side meaning we were always going to face this current predicament at some point. Even if we went up with this squad we would have to invest all our increased income into the squad just to be in with the slightest chance of staying up. The debt would barely move and when we inevitably get relegated again it will be a sh*te site worse in a few years.
Agreed, so we need a plan to be able to pay it back that doesn't assume promotion. Currently the only available route would be to use proceeds from players sales, while we still have a few players worth a few bob....
The comms said all we needed to do was keep it simple and not make any big errors, which is what we were doing well for 10 minutes before gifting them a goal The summer 2022 window was almost the worst of both worlds, we brought in a lot of players, but only Dennis (who ultimately didn't make us that much profit, and by the looks of it won't earn us much in add-ons) and possibly Louza will make us big money. It's OK to take the odd punt on experienced players who had lost their way a bit, but we had Rose, Kucka, King and Kamara, none of whom came off, when the emphasis should always be on younger players who could develop into something
Choudhury is arguably a success, Etebo looked good in the short time he did play, Kucka looked fantastic on debut but never looked like he had 90 minutes under his belt, the rest, I prefer not to speak
I did worry that Glenn Murray would start banging them in for Forest when he got two on debut for them against Wycombe, but then again even Andre Gray managed to bag 2 against Wycombe...
I quite liked Kucka. He used to be blowing out of his arse after an hour but he did really try bless him. Let's not forget he oh so nearly scored a last minute equaliser against Chelsea at the Vic with a great FK.Unlike the dross we have now, he put effort in.
He'd have been a good signing if we wanted someone to come off the bench to see out games (the Carlos Sánchez role in other words), but not to start every game he was available for...
For all I know, Kucka could have been one of the main toxic influences, although it's ironic he's one of the players Gosling takes a swipe at considering he almost undid all his good work against Villa
Been away, so am catching up on the uproar. Was directed to read some of the comments on The Athletic page for the Huddersfield page. Now this really does take the biscuit. I believe he is on one of Gino's zealots who inhabit the WML. The words strength, give, and me, come to mind.
