Confession time: those Brum posters, were me.
D/D: sorry and I take the infraction with sincere apologies.
The Financial Meltdown Thread!
- Thread starter Neiler
- Start date
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Confession time: those Brum posters, were me.
D/D: sorry and I take the infraction with sincere apologies.
kenada_blue
Welcome to Barcelonaton FC
You whopper. Proper shook my fist at me screen with those biffy posts...made worse by the fact we didnt beat them.
Anyway, Carson Yeung looks like he should be done for war crimes with Kim Jong Il anyway. The banks will be in a bit of a fight with his mates though
Matt Damon
Player Valuation: £60m
On that other thread you're there saying "arab billionaires / sell to buy let me think...... " ...
You're reasoning and points on different threads are as contradictory as your politics.
The club should be generating its own funds.
And thats what any owner needs to be ensuring
not fantasy football style bull****
Matt Damon
Player Valuation: £60m
You whopper. Proper shook my fist at me screen with those biffy posts...made worse by the fact we didnt beat them.
Anyway, Carson Yeung looks like he should be done for war crimes with Kim Jong Il anyway. The banks will be in a bit of a fight with his mates though
Try to sue a Chinese citizen too if they screw you over.
Its near on impossible.
kenada_blue
Welcome to Barcelonaton FC
Especially with Chewie as your bezzie
kenada_blue
Welcome to Barcelonaton FC
YOU HORROR!
I feel like I've been violated. Been living a lie. Its like watching Fight Club all over again...Usual Suspects....Sixth Sense....I've been had!
You're making me feel guilty. What bait did I use on you mate?
kenada_blue
Welcome to Barcelonaton FC
Cant recall. It had shades of those Man Citeh blerts but a very very poor man's version of them.
I think I said they'd be in the market to buy another Barry Ferguson and your alter ego had a go and a whinge cos they had big money.
Still in shock here.
Ah right. Did I mention something about bidding for Arteta? That was it wasn't it?
kenada_blue
Welcome to Barcelonaton FC
Nah, was more about Babel I think.
Reidy's Bottle Of Grecian
The Unobstructed View
yet they'll still sing "sign on" when we go there next year.
TX Bill
Player Valuation: £80m
I've always thought of Leeds as a big team. I think they were ahead of their time in terms of "messing up."
They gambled their future on the present, lost big time, and paid for it.
Don't anyone think for a minute that there aren't a host of other "Leeds Uniteds" out there. They just haven't imploded yet. Just like Bear Stearns wasn't the first and only financial institution to have issues, there will be other football clubs that go down the shitter.
Just wait, watch, and hope that Everton isn't one of them. I'd venture to say that you could conceivably have a 50% turnover in Premier League clubs within five years. And that's probably being conservative.
Next up Norway!
Liverpool's parent company posted a loss of £54.9m for the year ended on 31 July 2009 as debt interest payments and severance costs hit hard.
The loss was 34% worse than 2008's figure as £40.1m went on servicing the club's £351.4m debt to Royal Bank of Scotland (RBS) and US firm Wachovia.
Pay-offs to senior staff, including former chief executive Rick Parry, accounted for a further £4.3m.
BBC Sport understands that Parry's severance package was £3m.
This sum - twice what Keith Edelman received when he left the chief executive job at Arsenal - will raise eyebrows on Merseyside as it was Parry who introduced Tom Hicks and George Gillett Jnr to the club and pushed for their eventual takeover in 2007.
He would come to regret this decision as the American duo's ownership has proved to be deeply unpopular with fans and Parry was ultimately forced out of the club in February 2009. He had been in charge for over 10 years.
Hicks and Gillett may soon be following him out of Anfield as they have put the club up for sale: an apparent admission that their regime has been a failure on and off the pitch.
Of particular concern to the fans (and any potential buyer of the club) will be a warning in the parent company's accounts from the auditors.
For the second year in succession, KPMG has flagged up its fears about Liverpool's precarious debt position. This relates to the loans Hicks and Gillett took out to finance their purchase of the Premier League outfit.
Last year the pair were forced to pay off a £60m chunk of their debt to the state-owned RBS in return for a one-year extension of their "credit facilities". That extension expired in March but is believed they have been given six months' grace to find a buyer.
British Airways chief Martin Broughton arrived in April to oversee the club's sale.
"Success for me is completing a sale within a relatively short period - a matter of months - to someone who, hindsight says, was a very good owner for Liverpool", says the Reds' new chairman.
But until that happens the club is dependent on what KPMG calls "short-term facility extensions".
"These conditions indicate the existence of a material uncertainty which may cast doubt on the parent company's ability to continue as a going concern," it said.
As well as the bank loans, Liverpool's parent company also owes £144.4m to its parent company, the Hicks and Gillett-controlled Kop Football (Cayman) Limited. The interest on this was £8.1m, although it has not been paid.
Other items of note in the accounts are the expenses bills from Hicks and Gillett of £158,000 and £118,000 respectively. There is also a charge of £22.3m for work done on the much-delayed new stadium project.
It was not all red ink in Kop Football (Holdings) Ltd's accounts, though. Manager Rafael Benitez managed to make £3.4m in the transfer market, following 2008's £14.3m net profit.
And the club's second-place finish in the Premier League brought in record TV revenues of £74.6m.
Mention was also made of the bumper shirt sponsorship deal the club signed with Standard Chartered in September 2009. Worth £80m over four years, the first benefits of that tie-up will come in next year's accounts.
But with no Champions League football to look forward to next year, a squad in need of urgent overhaul and uncertainty surrounding Benitez's position, the shirt deal will be scant consolation to Liverpool's frustrated following.
Liverpool's parent company posted a loss of £54.9m for the year ended on 31 July 2009 as debt interest payments and severance costs hit hard.
The loss was 34% worse than 2008's figure as £40.1m went on servicing the club's £351.4m debt to Royal Bank of Scotland (RBS) and US firm Wachovia.
Pay-offs to senior staff, including former chief executive Rick Parry, accounted for a further £4.3m.
BBC Sport understands that Parry's severance package was £3m.
This sum - twice what Keith Edelman received when he left the chief executive job at Arsenal - will raise eyebrows on Merseyside as it was Parry who introduced Tom Hicks and George Gillett Jnr to the club and pushed for their eventual takeover in 2007.
He would come to regret this decision as the American duo's ownership has proved to be deeply unpopular with fans and Parry was ultimately forced out of the club in February 2009. He had been in charge for over 10 years.
Of particular concern to the fans (and any potential buyer of the club) will be a warning in the parent company's accounts from the auditors.
For the second year in succession, KPMG has flagged up its fears about Liverpool's precarious debt position. This relates to the loans Hicks and Gillett took out to finance their purchase of the Premier League outfit.
Last year the pair were forced to pay off a £60m chunk of their debt to the state-owned RBS in return for a one-year extension of their "credit facilities". That extension expired in March but is believed they have been given six months' grace to find a buyer.
British Airways chief Martin Broughton arrived in April to oversee the club's sale.
"Success for me is completing a sale within a relatively short period - a matter of months - to someone who, hindsight says, was a very good owner for Liverpool", says the Reds' new chairman.
But until that happens the club is dependent on what KPMG calls "short-term facility extensions".
"These conditions indicate the existence of a material uncertainty which may cast doubt on the parent company's ability to continue as a going concern," it said.
As well as the bank loans, Liverpool's parent company also owes £144.4m to its parent company, the Hicks and Gillett-controlled Kop Football (Cayman) Limited. The interest on this was £8.1m, although it has not been paid.
Other items of note in the accounts are the expenses bills from Hicks and Gillett of £158,000 and £118,000 respectively. There is also a charge of £22.3m for work done on the much-delayed new stadium project.
It was not all red ink in Kop Football (Holdings) Ltd's accounts, though. Manager Rafael Benitez managed to make £3.4m in the transfer market, following 2008's £14.3m net profit.
And the club's second-place finish in the Premier League brought in record TV revenues of £74.6m.
Mention was also made of the bumper shirt sponsorship deal the club signed with Standard Chartered in September 2009. Worth £80m over four years, the first benefits of that tie-up will come in next year's accounts.
But with no Champions League football to look forward to next year, a squad in need of urgent overhaul and uncertainty surrounding Benitez's position, the shirt deal will be scant consolation to Liverpool's frustrated following.
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