“Prospective buyers not from Ireland but closer to home, so I’m told”

Bonzo said:
Details over timing.
Does this mean waiting to get relagated b4 going ahead with the takeover?.
Because this could happen soon.
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Whatever happens, it will take months to happen. Do the best we could hope for would be to have new owners in place for the kick-off in 2018-19.
 


Coeus said:
They play a different game entirely, financially speaking.

When you're 70 million in debt and your expenditure outweighs your income, its not the time to spend further.
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The only debt we have is to Short and SBC. The SBC loan has until next year to be sorted and we have a £20 million bond against it. The rest of the debt is to Short himself which could be spread of several years, it's not like we have multiple creditors
 
lawe toppa said:
The only debt we have is to Short and SBC. The SBC loan has until next year to be sorted and we have a £20 million bond against it. The rest of the debt is to Short himself which could be spread of several years, it's not like we have multiple creditors
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Best case scenario we write off the debt to Ellis. Thats 70 million we owe to a creditor that could call it in at any time, that time is more likely to come around quicker if we increase the amount we lose per year.

We simply have no wiggle room to restructure the first team whilst certain players are still here. The only way to get out of this mess is to be clever, imo no one is coming in with a magic wand of 10 million pounds to invest, nor should they as it would worsen our circumstances.
 
Coeus said:
Best case scenario we write off the debt to Ellis. Thats 70 million we owe to a creditor that could call it in at any time, that time is more likely to come around quicker if we increase the amount we lose per year.

We simply have no wiggle room to restructure the first team whilst certain players are still here. The only way to get out of this mess is to be clever, imo no one is coming in with a magic wand of 10 million pounds to invest, nor should they as it would worsen our circumstances.
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The SBC loan will be restructured imo
 
All clubs have debt. Its how its managed and what income you have.

If the debt is nearer £60m with all the cost cutting you are going to get a lot of club, when you think of SOL / AOL and fan base, with that money providing Short is giving it away. In terms of assets the way Asoro is developing we could be looking at another £30m in a couple of years - there is half the debt gone.

The major issue we have is Rodwell and other high earners. Rodwell is draining £300k + out of the club a month. This has got to be sorted.
 
Coeus said:
They play a different game entirely, financially speaking.

When you're 70 million in debt and your expenditure outweighs your income, its not the time to spend further.
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Boro spend more than they bring in, I'd hazard a guess that is true for most teams.

I'm not saying it is right or sustainable, just the way it is.
 
Pop said:
Boro spend more than they bring in, I'd hazard a guess that is true for most teams.
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Is Gibson not funding it though?

Seem to remember Ipswich being in big trouble, just because others are doesn't give us an excuse imo.

Although I doubt either have been losing 30 million per season for as long as we have.

Its about becoming a competent club and not one that yearns for someone to come in and waste all his money. Managing expectations instead of kicking off because were not adding stupid wages to the ones we already pay.
 
Northumberland Rocks said:
All clubs have debt. Its how its managed and what income you have.

If the debt is nearer £60m with all the cost cutting you are going to get a lot of club, when you think of SOL / AOL and fan base, with that money providing Short is giving it away. In terms of assets the way Asoro is developing we could be looking at another £30m in a couple of years - there is half the debt gone.

The major issue we have is Rodwell and other high earners. Rodwell is draining £300k + out of the club a month. This has got to be sorted.
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Rodwell's wages should be classed as unearned income.;)
 
Coeus said:
Is Gibson not funding it though?

Seem to remember Ipswich being in big trouble, just because others are doesn't give us an excuse imo.

Although I doubt either have been losing 30 million per season for as long as we have.

Its about becoming a competent club and not one that yearns for someone to come in and waste all his money. Managing expectations instead of kicking off because were not adding stupid wages to the ones we already pay.
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Boro made a 30 million loss getting promoted in 15/16, 10 million loss in the prior year. Will definitely be running at a big loss this season.

Is Gibson not funding it the same way short was/is, through loans from his parent company? It is all a massive tax dodge.

I'm not kicking off, I'm just realistic about how most big clubs are ran these days.
 
Pop said:
Boro made a 30 million loss getting promoted in 15/16, 10 million loss in the prior year. Will definitely be running at a big loss this season.

Is Gibson not funding it the same way short was/is, through loans from his parent company? It is all a massive tax dodge.

I'm not kicking off, I'm just realistic about how most big clubs are ran these days.
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I wasn't implying you were mate, was a general point.

Sounds like Middlesborough have been running badly as well then but if they have lost 40 millions in 2 seasons, we have been running at a 30 mill loss per season for a lot longer than that.
 
Coeus said:
I wasn't implying you were mate, was a general point.

Sounds like Middlesborough have been running badly as well then but if they have lost 40 millions in 2 seasons, we have been running at a 30 mill loss per season for a lot longer than that.
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Unlike Short, Gibson has set Boro up as a subsidiary of his main trading company. That means he can offset Boro's losses against trading profits, and reduce the group's tax bill. The club, in comparison, is owned by a Jersey company, and its losses can't be group relieved away.
 

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