hadleighhammer wrote:Wonder what's brought this latent attempted guilt trip on....
party iron wrote:Is it a guilt trip or pay the debt of quick and save the interest.I think its being frank with the fans.As long as they dont make a mint out of us, we are in it together
agreed that they are eminently better owners than Brown (who took money out of the club pretty any which way he could imo), or the icelandics (who were negligent, incapable, ignorant, incompetent etc - take your pick)
however they need to be careful about overplaying this sort of stuff imo.
they bought an asset at a HUGE discount because of the debt they keep talking about. if they use the clubs operating activities or assets to pay off the debt and then sell the club for a massive profit they will be no better than the two mentioned imo....they effectively bought for circa £20m IIRC...with over £100m of debt...if they spend 5-6 years getting the debt paid then sell the club for £150m making £130m profit then is that right?
i think initially buying the club cheap and investing in it slowly as it gets back on it's feet (inital £20m paid in, various other 'installments" to take the investment to £120m) and then sell the club for £150m and make £30m profit - then I'm cool with that. they are effectively being rewarded for the 'value added' to the club
FWIW i think they are doing the second (although the vast majority they have put in is more cashflow short term then actual equity investment imo)....but this is the same sort of thing that millions of investors do all the time and is not something that they need to keep pointing out - ultimately they will get their reward in the increase of implied value of the club
this statement is pretty transparently aimed at the season ticket loyalty issue.....and whilst i don't own a season ticket nowadays so am unaffected directly I do agree with points made elsewhere that the club have known about this for some time and in any event 40% of the club is still owned by the icelandics banks