22A Posted October 29, 2009 Report Share Posted October 29, 2009 Liverpool seem to be much less secure. They were forced to restructure their debts over the Summer and there still seems to be doubt about their financial situation. They could be in real trouble if they fail to qualify for the Champions League next season. In the late 80s when Liverpool won the League they admitted they had paid more in wages than they took at the gate. A few years ago the then Newcastle directors announced they had to qualify for Europe the following season or else they wouldnt be able to pay the wage bill. Most directors are successful businessmen. Give 'em a sports club (not just footy) and too many of them leave their brains at the door. Link to comment Share on other sites More sharing options...
merrickstash Posted October 29, 2009 Report Share Posted October 29, 2009 According to what I've read, they lost £9 million in the season they WENT UP! No idea how we run our finances but I trust SL wasn't betting so much on success. He didn't get so rich by being a fool. And he's made his money by making others rich. Link to comment Share on other sites More sharing options...
cityhead Posted October 29, 2009 Report Share Posted October 29, 2009 I understand from a news programme that prem clubs don't get tv money until January, and Hull have already mortgaged that money. It seems their owner does not have sufficient capital behind him. With regard to SL and his ilke, most successfull business men get into football as a tax loss. I'm not an accountant but City regularly lose 2 or 3 million each year which I would bet money on is not far off Mr Lansdownes tax bill. Why not spend the money on your hobby and support your team with the nmoney rather than give it to the tax man. It is very reminiscent of the late great Harry D and something needs to be named in his honour when he gets the new stadium built. Link to comment Share on other sites More sharing options...
Chivs Posted October 30, 2009 Report Share Posted October 30, 2009 I understand from a news programme that prem clubs don't get tv money until January, and Hull have already mortgaged that money. It seems their owner does not have sufficient capital behind him. With regard to SL and his ilke, most successfull business men get into football as a tax loss. I'm not an accountant but City regularly lose 2 or 3 million each year which I would bet money on is not far off Mr Lansdownes tax bill. Why not spend the money on your hobby and support your team with the nmoney rather than give it to the tax man. It is very reminiscent of the late great Harry D and something needs to be named in his honour when he gets the new stadium built. Because the Tax man will pass it on to nurses, teachers, fire officers..... ? I can't believe the proflicacy of teams in the PremierLoss. It's yet another Scudamore myth that the PremierBust is a great success. ManU £600m in debt, Liverpool similarly, Chelski bankrolled by Russian billions, Portsmouth not sure who owns them, let alone if they have any money, and poor old Hull going to the wall. Link to comment Share on other sites More sharing options...
City Ben Posted October 30, 2009 Report Share Posted October 30, 2009 Link to comment Share on other sites More sharing options...
bully Posted October 30, 2009 Report Share Posted October 30, 2009 Link to comment Share on other sites More sharing options...
City Ben Posted October 30, 2009 Report Share Posted October 30, 2009 Damn, you got me... I'm an accountant. OK - debt irrelevant, profitability key. Amount of debt not necessarily driven by profitabilty. Having a £300k mortgage on a £500k house isn't a problem... if you can afford the repayments. Having a £300k mortgage on a house worth £150k, where you can't afford the £1.5k a month mortgage... then you're in trouble. Link to comment Share on other sites More sharing options...
SecretSam Posted October 30, 2009 Report Share Posted October 30, 2009 Lots of positive comments here about SL's prudent financial managment Hope you all remember these words when the transfer window opens and we don't splash the cash - there is a reason for this As for Hull, **** them, they made me cry at Wembley (again) so frankly let them rot (although the fans were OK). Link to comment Share on other sites More sharing options...
Byrd9999 Posted October 30, 2009 Report Share Posted October 30, 2009 makes you realise that for every fan who whinges about their team's poor performance being due to the chairman's inability to 'put his hand in his pocket', it might be better for the club if the chairman doesn't. I too had always imagined Hull to be a responsibly-run team, but I guess they got carried away with the giddy heights of the top division. Let's hope that doesn't ever happen (again) to City should we go up. Link to comment Share on other sites More sharing options...
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