We have had losses way in excess of £20m for quite a few seasons since we got back in the premier league. Haven't got the figures in front of me but I think as an example it was £27m in 08/09 and £28m in 09/10.Year on year you'd need losses in excess of £20M for the debt to be built up like this and you can't tell me that some of our expenditure hasn't been underwritten by Short so how are we spending our money. Are the debts this high cause we keep sacking managers and staff, is it also this high cause we've signed shit players for high fees? There's no way a chairman who is the leading advocate of FFP has allowed things to get this bad without knowing what's going on, so what the fuck has gone on. How do the accounts effect the potential to do business over the coming seasons? What plans and measures are in place to allow us to get on an even keel financially, and improve the club?
Short has again from memory effectively written off around £70m and provided interest free loans for some more. We are only able to get in to the level of debt we have £90m+ because short underwrites it.
The costs of sacking managers will be included as will high fees and wages.
No idea what you mean by what's gone on? We have spent a lot of money on not very good players.
The impact nobody really knows, if FFP comes in properly we can't spend much more on wages. Even if it doesn't I can't see the club wanting to push costs even higher given that the new TV deal may finally get us into a profitable financial position which I guess is the plan.
As to how we improve I honestly don't know, we either have to spend a lot which seems unlikely or get much much better in the transfer market again not looking very likely.
Sorry for the long post and not having all the figures to hand.