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O'Neill Resigns

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http://www.grandoldteam.com/forum/t...iscussion-and-ownership?highlight=Aston+Villa

Aston Villa's financial issues are massive:
Aston Villa’s reported net debt has increased by 18% from £72.3m to £85.2m, though this would be nearly £100m if the post balance sheet loan notes of £12.5m were included. The net debt as at 31 May 2009 comprises £84.5m loan notes and £9.2m of bank loans and overdrafts less £8.5m cash. Although the debt is getting larger, it still looks reasonable compared to Manchester United, as it’s much lower (£100m vs £716m) and, in stark contrast to the Glazers, is financed from Lerner’s own company, rather than banks. According to The Times review, only four clubs have more debt than Villa: obviously Manchester United, Liverpool and Arsenal, but also (worrying drum roll) Portsmouth


Was always going to happen.

Look at their overheads since O'Neil took over !!!

LERNER-WRONG!!!

He's far more WRONG than Kenwright. FACHT.

Sanctioned spending like its out of fashion. 20% jump in their debt last summer!!!
 

Think that he has quit as the board has gone into deals without asking him. Think that A Young, L Young, N Shorey and Milner are deals that have been started / concluded without his knowledge or say. Once the board go behind the managers back then he has no choice really. Still think that he is a decent manager and is a good guy. He quit Celtic to look after his wife who had lymphoma. Fair play to the guy for that. Many would have just carried on but to leave his job and become a full time carer makes you are good guy. Could have paid someone to be a carer on his wage.
 

A wheel is a circular device that is capable of rotating on an axle through its centre, facilitating movement or transportation while supporting a load (mass), or performing labour in machines. Common examples are found in transport applications. A wheel, together with an axle overcomes friction by facilitating motion by rolling. In order for wheels to rotate, a moment needs to be applied to the wheel about its axis, either by way of gravity, or by application of another external force. More generally the term is also used for other circular objects that rotate or turn, such as a ship's wheel, steering wheel and flywheel.
 

BlueTak said:
Yeah, O'neill is a tit, looks like he's packed his bags because he can't get any money!
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He's had A TONNE of money... spent the lot.

Staff numbers jumped from 80 odd to over 140 under him.

Debt jumped 20% in three months.


LERNER-WRONG is to blame too. He's the one that sanctioned all that spending and putting Villa into a financial abyss!
 
MikelsGoat said:
A wheel is a circular device that is capable of rotating on an axle through its centre, facilitating movement or transportation while supporting a load (mass), or performing labour in machines. Common examples are found in transport applications. A wheel, together with an axle overcomes friction by facilitating motion by rolling. In order for wheels to rotate, a moment needs to be applied to the wheel about its axis, either by way of gravity, or by application of another external force. More generally the term is also used for other circular objects that rotate or turn, such as a ship's wheel, steering wheel and flywheel.
Click to expand...

WTF? Have i missed something?
 
Matt Damon said:
He's had A TONNE of money... spent the lot.

Staff jumped from 80 odd to over 140 under him.

Debt jumped 20% in three months.


LERNER-WRONG is to blame too.
Click to expand...

Exactly. What the guy is basically saying is, "unless I get 50 million a year to spend, I can't compete". Lerner is a great owner who runs that club responsibly. MON has damaged his career with this move. Who in their right mind outside of the richest clubs in the world would hire the guy now? He's just gonna bitch and moan all the time about money.
 
Matt Damon said:
He's had A TONNE of money... spent the lot.

Staff numbers jumped from 80 odd to over 140 under him.

Debt jumped 20% in three months.


LERNER-WRONG is to blame too. He's the one that sanctioned all that spending and putting Villa into a financial abyss!
Click to expand...

I meant any more money.
 
I think Lerner got bored 2 months after buying the Club, he would sell tomorrow, but theres nobody buying Clubs at the moment, Bill is looking 24/7 you know,
 

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