I still can't believe that 85% of reds refuse to accept that Rafael has wasted absolutely unprecedented amounts of money. They'll bang on all day about the Americans and the extra £40m in interest being paid, but quietly ignore Rafael and the extra £40m in wages they have to pay. Take the Americans and their debt entirely out of the equation, and Rafael and his team are still losing money hand over fist, £15m in 08/09, which will be closer to £50m in 10/11.
This.
My theory of all this was.....Hicks and Gillet bought the RS in similar fashion to the Glaziers at United, borrowing shed loads to pump into the club and rely on the team winning things to generate the dough. 1st honeymoon period was gold for Rafael and the RS -
Javier Mascherano £17,100,000
Martin Skrtel £6,500,000
Emiliano Insua £1,300,000
Ryan Babel £11,500,000
Yossi Benayoun £5,000,000
Sebastian Leto £1,850,000
Fernando Torres £26,500,000
Net spend (after selling players) = £39,850,000
Now it was the Waiter to go out and perform like your Man United's and Chelsea's and win something so they can plough on covering the interest, paying bits off, even borrowing more if need be.
Fast forward 2010 - Won nothing. Finished 2nd previous season. No Champs League for 2010/2011 season. Debt rises due to lack of performances on the pitch, lack of trophies/finals etc to pay it off. Unlike Man United and Chelsea. Bigger debt. But won things to keep the brand going.
FSW is a culprit for the club debt as much as the owners in some respect. Now he expects someone to come in, clear £300mill of debt, build a stadium, and give him £50mill to spend?
Not gonna happen.
amongst other things.
