Please log in or register
Forum index | Previous Thread | Next thread
How have American owners changed Swansea City? 08:31 - Sep 13 with 1974 viewsLandore_Jack

Interesting article.

http://www.bbc.co.uk/sport/football/41227861
0

How have American owners changed Swansea City? on 08:42 - Sep 13 with 1495 viewsshandyjack

Transfer windows still not good enough
Prices on concourses have gone up and food still crap
Fans further isolated from the club
Trust now a non entity
Scouting department still poor

Anymore?

Poll: Would you take £16.5m for Llorente and bring in Bony?

2

How have American owners changed Swansea City? on 08:42 - Sep 13 with 1495 viewsRancid

They ensured thst nose plasters are really ok.
0

How have American owners changed Swansea City? on 09:43 - Sep 13 with 1411 viewsEasternJack

Another article with a host of "pundits" complaining that the new owners are trying to operate within the clubs means by not adding debt.

Basterds

Poll: Hull vs Middlesborough - What do we want?

0

How have American owners changed Swansea City? on 09:48 - Sep 13 with 1399 viewsherefordjack

"The Supporters Trust were not fully consulted".

NOT FULLY CONSULTED??????

They weren't feckin consulted AT ALL, because the sell outs didn't want the Trust scuppering the sale and their big pay day, like they had with the take over attempt by different Yankee venture capitalists the previous year. So they did the dirty deed behind the backs of the Supporters Trust, thereby cutting out Swansea City supporters' official representatives and ensuring we made no money at all out of the deal.

Why can't the media get anything feckin RIGHT?

And while we're at it, I notice this article was put up today by BBC Wales Sport, otherwise known as Cardiff City FC Central News, but funnily enough no mention of the game at Deepdale last night.
1
How have American owners changed Swansea City? on 10:48 - Sep 13 with 1312 viewsShaky

How have American owners changed Swansea City? on 09:43 - Sep 13 by EasternJack

Another article with a host of "pundits" complaining that the new owners are trying to operate within the clubs means by not adding debt.

Basterds


Sorry EJ, i think you're a good poster but this suggests a fundamental misunderstanding of the club's finances that is without doubt widespread.

The club ended the last available financial year with net working capital of negative £63 million. What that means is that the club has £63 million more in short term operating debt than in short term operating assets.

Negative working capital is a structural feature in some industries like restaurants, bars, clubs, etc, where you get 30/60 days credit from your suppliers but take in cash (basically vendor financing). Or in Engineering & Construction where the main contractor receives advance and stage payments from the client but then screws sub-contractors on payment terms only paying them at the end of their contracts (sub-contractors also screw sub-sub suppliers on payment terms).

But that is not what is happening at Swansea. Instead they sell players on staged payment plans then factor the receipts due in the future to receive the money today. At the same time they pay for player acquisitions according to plan on the never-never.

It's a house cards and spells almost certain disaster if the club were to go down, and is masked by the fact that factoring is trade finance and as such is shown differently from plain vanilla bank financing, so it only sets alarm bells ringing for those like me who know how to read a balance sheet properly.

That said Jenkins is no doubt right to say the club is in a stronger position today than it has been certainly in the recent past with recent profits generated, but there was a huge hole in the balance sheet and it is probably unlikely it has been fully plugged, which means financial risk remains high. I'll try to put some numbers together to quantify that when I have the chance.

Misology -- It's a bitch
Poll: Simple question: Do you have confidence in Darran as a moderator?

0

How have American owners changed Swansea City? on 10:54 - Sep 13 with 1306 viewsawayjack

Typical article with many errors and some of comments are laughable. Purchase of shares is not part of FFP. FFP looks at spend of the club, not money paid to external shareholders.
0

How have American owners changed Swansea City? on 16:31 - Sep 13 with 1052 viewsShaky

FWIW have just done a quick and dirty analysis of the issue I discussed earlier, which comes with the proviso that it is not a fully formed all singing and dancing financial model, but should be in the ballpark.

For the financial year just ended ('17) i am estimating operating profit of around zero, with profit before tax bolstered by what i reckon will be a profit on sale of players of around £ 37million. (from Ash, Ayew MK I, and cork).

This sounds great, but by my estimation that only translates to cash-flow of around negative £7 million assuming all cash-flows attributable to the year are realised and that the working capital position remains identical from the end of '16.

That is in itself unrealistic, but is the right way of assessing the effect of changes in the playing staff.

Furthermore at the end of '16 the club had failed to pay the inland Revenue probably in the region of £8 that was overdue and which it would be impossible to sustain. Repay that and the cash-flow for '17 becomes around negative £15 million.

So far for '18 on player movements i make cash-flow around £ 16million (positive) but that only plugs the increase in the size of the hole from '17, with stadium financing and expansion and squad investments still on the cards.

The point being the financial position of the club remains seriously stretched.

And the question is do the Trust understand this, and if so will they speak out to call for the safeguarding of the club's financial position or are they keeping schtum hoping to cash-out on a sale without anybody noticing what the fcuk is going on?

[Post edited 13 Sep 17:00]

Misology -- It's a bitch
Poll: Simple question: Do you have confidence in Darran as a moderator?

1
How have American owners changed Swansea City? on 16:44 - Sep 13 with 1021 viewsmax936

How have American owners changed Swansea City? on 08:42 - Sep 13 by shandyjack

Transfer windows still not good enough
Prices on concourses have gone up and food still crap
Fans further isolated from the club
Trust now a non entity
Scouting department still poor

Anymore?


£4.20 for a pint that's around 3 quid everywhere else and to think a few former owners have an interest in the beer concerned, starving greedy bastards
0
How have American owners changed Swansea City? on 16:51 - Sep 13 with 1006 viewsmax936

How have American owners changed Swansea City? on 09:48 - Sep 13 by herefordjack

"The Supporters Trust were not fully consulted".

NOT FULLY CONSULTED??????

They weren't feckin consulted AT ALL, because the sell outs didn't want the Trust scuppering the sale and their big pay day, like they had with the take over attempt by different Yankee venture capitalists the previous year. So they did the dirty deed behind the backs of the Supporters Trust, thereby cutting out Swansea City supporters' official representatives and ensuring we made no money at all out of the deal.

Why can't the media get anything feckin RIGHT?

And while we're at it, I notice this article was put up today by BBC Wales Sport, otherwise known as Cardiff City FC Central News, but funnily enough no mention of the game at Deepdale last night.


I'd still love to hear the reasons as to why the Trust didn't scream and shout from the highest rooftops, on Swansea Sound, Radio Wales, BBC Wales etc etc and get leaflets distributed around the ground and in the surrounding pubs after what happened in the Summer of 2016.
0
How have American owners changed Swansea City? on 16:59 - Sep 13 with 990 viewsLoyal

How have American owners changed Swansea City? on 16:51 - Sep 13 by max936

I'd still love to hear the reasons as to why the Trust didn't scream and shout from the highest rooftops, on Swansea Sound, Radio Wales, BBC Wales etc etc and get leaflets distributed around the ground and in the surrounding pubs after what happened in the Summer of 2016.


Maybe it would mean they would have to go out on a limb, be brave and be organised.

Nolan sympathiser, clout expert, personal friend of Leigh Dineen, advocate and enforcer of porridge swallows. The official inventor of the tit w@nk.
Poll: TRUST - LEGAL ACTION - YES / NO etc

0
How have American owners changed Swansea City? on 17:08 - Sep 13 with 959 viewsmax936

How have American owners changed Swansea City? on 16:59 - Sep 13 by Loyal

Maybe it would mean they would have to go out on a limb, be brave and be organised.


I believe rightly or wrongly, if the information known had been broadcast I think the fans reactions would have been different and the vote amongst the Trust's members would have been different, the pressure that might have brought could have been the end of the sellouts still being at the club lording it up.
0
How have American owners changed Swansea City? on 17:08 - Sep 13 with 957 viewsShaky

How have American owners changed Swansea City? on 16:59 - Sep 13 by Loyal

Maybe it would mean they would have to go out on a limb, be brave and be organised.


Right, but there is in fact also a serious issue regarding conflict of interest.

The deal the Trust shoehorned though formalises their removal from the decision making process at the club and aligns their interests fully with those of kaplan. And as i pointed out in the long discussion thread those interests are purely financial.

Therefore the conflict of interest facing the Trust now is are they prepared to speak out against dangerous practices at the club when this directly harms their financial interests?

Matt G assured us on several occasions that the additional non-voting board observer vouchsafed to the Trust as part of the deal would ensure a much stronger voice to speak out when things are going pear shaped.

I'll believe it when i see it.

Misology -- It's a bitch
Poll: Simple question: Do you have confidence in Darran as a moderator?

2
How have American owners changed Swansea City? on 17:16 - Sep 13 with 931 viewsmax936

How have American owners changed Swansea City? on 17:08 - Sep 13 by Shaky

Right, but there is in fact also a serious issue regarding conflict of interest.

The deal the Trust shoehorned though formalises their removal from the decision making process at the club and aligns their interests fully with those of kaplan. And as i pointed out in the long discussion thread those interests are purely financial.

Therefore the conflict of interest facing the Trust now is are they prepared to speak out against dangerous practices at the club when this directly harms their financial interests?

Matt G assured us on several occasions that the additional non-voting board observer vouchsafed to the Trust as part of the deal would ensure a much stronger voice to speak out when things are going pear shaped.

I'll believe it when i see it.


Good post, for me the Trust now have very little say they have weakened their position from a seemingly stronger position, my belief is if the legal option had been passed the Yanks would have got back around the Table and the Trust could have forced out a better deal including a bigger say as they would have been in a better position of strength, just my opinion based on looking in from the outside, we've sold ourselves short imo.
0
How have American owners changed Swansea City? on 18:35 - Sep 13 with 809 viewsxmastree

How have American owners changed Swansea City? on 16:44 - Sep 13 by max936

£4.20 for a pint that's around 3 quid everywhere else and to think a few former owners have an interest in the beer concerned, starving greedy bastards


That's fundamentally wrong though so why say things that you don't know are fact Why are they wrong ?
For instance which former owners have an interest in the beer concerned ?
What beer is that ?
Why would a supplier of beer have a say in the price the stadium sells it. Thats up to them ?
0
How have American owners changed Swansea City? on 18:43 - Sep 13 with 779 viewsMeraki

How have American owners changed Swansea City? on 16:44 - Sep 13 by max936

£4.20 for a pint that's around 3 quid everywhere else and to think a few former owners have an interest in the beer concerned, starving greedy bastards


I paid £5.50 for a bottle of Crabbies!
0
How have American owners changed Swansea City? on 18:58 - Sep 13 with 755 viewsBillyChong

How have American owners changed Swansea City? on 18:35 - Sep 13 by xmastree

That's fundamentally wrong though so why say things that you don't know are fact Why are they wrong ?
For instance which former owners have an interest in the beer concerned ?
What beer is that ?
Why would a supplier of beer have a say in the price the stadium sells it. Thats up to them ?


Which thief decided to charge £5 for a Guinness?
0
How have American owners changed Swansea City? on 19:17 - Sep 13 with 735 viewsmax936

How have American owners changed Swansea City? on 18:35 - Sep 13 by xmastree

That's fundamentally wrong though so why say things that you don't know are fact Why are they wrong ?
For instance which former owners have an interest in the beer concerned ?
What beer is that ?
Why would a supplier of beer have a say in the price the stadium sells it. Thats up to them ?


4 questions excellent. 4.20 for a pint of Gower Gold that is a fact and fundamentally true and its a fundamental fact that a former board member or members has.have an interest in Gower Brewery,

I'll give you the 4th one, but don't act as if you don't know the answers to the other three
0
How have American owners changed Swansea City? on 19:38 - Sep 13 with 702 viewslonglostjack

How have American owners changed Swansea City? on 17:16 - Sep 13 by max936

Good post, for me the Trust now have very little say they have weakened their position from a seemingly stronger position, my belief is if the legal option had been passed the Yanks would have got back around the Table and the Trust could have forced out a better deal including a bigger say as they would have been in a better position of strength, just my opinion based on looking in from the outside, we've sold ourselves short imo.


I agree.

Poll: Which is the most boring programme on TV

0
How have American owners changed Swansea City? on 19:48 - Sep 13 with 693 viewsxmastree

How have American owners changed Swansea City? on 19:17 - Sep 13 by max936

4 questions excellent. 4.20 for a pint of Gower Gold that is a fact and fundamentally true and its a fundamental fact that a former board member or members has.have an interest in Gower Brewery,

I'll give you the 4th one, but don't act as if you don't know the answers to the other three


Oh i know the answers. So you admit you don't know if it is one former board member or numerous yet you said ' a few former owners' in your original post.
Do you think the £4.20 is set by the supplier or by the catering company ?. I would think the majority of profit is made by the stadium not the beer manufacturer so i doubt there is much money made by said greedy bastards for a pint.
I have never seen gower gold sold in the west hospitality or concourse. Come to think of it i can't remember it in the south when i was there awhile back. Where exaxtly is it sold then ?
0

How have American owners changed Swansea City? on 20:32 - Sep 13 with 616 viewsdickythorpe

I'm glad it is sold at the Liberty now, but £4.20 is steep.

Poll: Who are the Wimbledon that won the FA cup?

0
How have American owners changed Swansea City? on 20:36 - Sep 13 with 608 viewsxmastree

How have American owners changed Swansea City? on 20:32 - Sep 13 by dickythorpe

I'm glad it is sold at the Liberty now, but £4.20 is steep.


Where in the stadium is it sold ?
0

How have American owners changed Swansea City? on 20:38 - Sep 13 with 601 viewsDarran

I heard BVS are bringing out a vending machine that gives out ice cold Gower Gold.

I'm getting one for the living room.

The first ever recipient of a Planet Swans Lifetime Achievement Award.
Poll: Who do you prefer as a poster Bluey or Ebo?

0
How have American owners changed Swansea City? on 20:40 - Sep 13 with 599 viewsdickythorpe

How have American owners changed Swansea City? on 20:36 - Sep 13 by xmastree

Where in the stadium is it sold ?


There's a man in the East Stand called oldjack he makes a killing flogging Ales, ciders, spirits and lies.

Poll: Who are the Wimbledon that won the FA cup?

0
How have American owners changed Swansea City? on 20:43 - Sep 13 with 586 viewsSmellyplumz

How have American owners changed Swansea City? on 19:38 - Sep 13 by longlostjack

I agree.


Trust members had the chance and they f ucked it no use crying now.

""Although I cannot promise or predict the future, I can guarantee one thing - the current board of directors will always fight, as we have done over the last 12 years, to work together as one with the Supporters Trust to make 100% sure that Swansea City football club remains the number one priority in all our thoughts and in every decision we make."
Poll: Huw Jenkins

0
How have American owners changed Swansea City? on 20:45 - Sep 13 with 588 viewsdickythorpe

How have American owners changed Swansea City? on 20:38 - Sep 13 by Darran

I heard BVS are bringing out a vending machine that gives out ice cold Gower Gold.

I'm getting one for the living room.


IT should NEVER be ice cold EVER!!!!!!!!

Poll: Who are the Wimbledon that won the FA cup?

0
About Us Contact Us Terms & Conditions Privacy Cookies Advertising
© FansNetwork 2017 hosted by FastHosts