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How have American owners changed Swansea City? 08:31 - Sep 13 with 6568 viewsLandore_Jack

Interesting article.

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

#backtojack

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How have American owners changed Swansea City? on 20:47 - Sep 13 with 1327 viewsDarran

How have American owners changed Swansea City? on 20:45 - Sep 13 by dickythorpe

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


It's nothing to do with you how I like my Gower Gold.

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How have American owners changed Swansea City? on 20:47 - Sep 13 with 1324 viewsSmellyplumz

How have American owners changed Swansea City? on 19:48 - Sep 13 by xmastree

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 ?


Aye, still greedy c unts that sold the club behind the trusts back though.

""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."
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How have American owners changed Swansea City? on 20:50 - Sep 13 with 1317 viewsdickythorpe

How have American owners changed Swansea City? on 20:47 - Sep 13 by Darran

It's nothing to do with you how I like my Gower Gold.


It's a good point well made Dar.

But I'm only trying to heighten your enjoyment.

Have you tried Gower Supergold 7% ?
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How have American owners changed Swansea City? on 20:52 - Sep 13 with 1311 viewsDarran

How have American owners changed Swansea City? on 20:50 - Sep 13 by dickythorpe

It's a good point well made Dar.

But I'm only trying to heighten your enjoyment.

Have you tried Gower Supergold 7% ?


No.

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How have American owners changed Swansea City? on 20:57 - Sep 13 with 1302 viewsDarran

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

Where in the stadium is it sold ?


In the Riverside.

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How have American owners changed Swansea City? on 21:21 - Sep 13 with 1282 viewsxmastree

How have American owners changed Swansea City? on 20:57 - Sep 13 by Darran

In the Riverside.


One bar in the whole stadium ? 😂😂😂. Making a killing then !!
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How have American owners changed Swansea City? on 21:23 - Sep 13 with 1276 viewsDarran

How have American owners changed Swansea City? on 21:21 - Sep 13 by xmastree

One bar in the whole stadium ? 😂😂😂. Making a killing then !!


Don't be a smarmy twát with me I only answered the question.

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How have American owners changed Swansea City? on 21:37 - Sep 13 with 1251 viewsxmastree

How have American owners changed Swansea City? on 21:23 - Sep 13 by Darran

Don't be a smarmy twát with me I only answered the question.


It wasn't aimed at you. It was aimed at mad max
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How have American owners changed Swansea City? on 21:51 - Sep 13 with 1230 viewsDarran

How have American owners changed Swansea City? on 21:37 - Sep 13 by xmastree

It wasn't aimed at you. It was aimed at mad max


Max is my friend he's not mad. 👀

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How have American owners changed Swansea City? on 21:59 - Sep 13 with 1222 viewsSwanjaxs

How have American owners changed Swansea City? on 21:21 - Sep 13 by xmastree

One bar in the whole stadium ? 😂😂😂. Making a killing then !!


Hold on you fùckin idiot! A board member is having one of his products sold in the Riverside bar? If this is true then surely it's a case of using his influence to line his pockets? Whatever next..... vending machines in the inner sanctum of the Liberty Stadium perhaps..... oh wait there ....

You might think I've forgotten, but one day, when you least expect it, my time will come.
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How have American owners changed Swansea City? on 22:13 - Sep 13 with 1201 viewsmax936

How have American owners changed Swansea City? on 21:51 - Sep 13 by Darran

Max is my friend he's not mad. 👀


£4.20 is excessive no matter how many bars its sold in Dar, Gower Gold is £3.60 at a far more salubrious place than the Liberty that's expensive but just about acceptable, but £4.20 coupled with the prices for other drinks and products there's a fair profit to had.
I agreed on his 4th question about who does the pricing,

Anyway they don't serve it up in Hospitality, so that's cheered me up, little victorys and all that

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How have American owners changed Swansea City? on 22:20 - Sep 13 with 1194 viewsxmastree

How have American owners changed Swansea City? on 21:59 - Sep 13 by Swanjaxs

Hold on you fùckin idiot! A board member is having one of his products sold in the Riverside bar? If this is true then surely it's a case of using his influence to line his pockets? Whatever next..... vending machines in the inner sanctum of the Liberty Stadium perhaps..... oh wait there ....


Why don't you check first to see if said product was being sold at the liberty before or after he got involved. If before then i think your aguement a little tenious. I also doubt that a few pints sold in one bar, 30 odd times a year will line anyones pockets.
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How have American owners changed Swansea City? on 22:26 - Sep 13 with 1185 viewswhiterock

How have American owners changed Swansea City? on 19:48 - Sep 13 by xmastree

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 ?


It was sold in hospitality long before your man got involved, don't think they can do the volume for the concourse,
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How have American owners changed Swansea City? on 22:27 - Sep 13 with 1182 viewsDarran

How have American owners changed Swansea City? on 22:13 - Sep 13 by max936

£4.20 is excessive no matter how many bars its sold in Dar, Gower Gold is £3.60 at a far more salubrious place than the Liberty that's expensive but just about acceptable, but £4.20 coupled with the prices for other drinks and products there's a fair profit to had.
I agreed on his 4th question about who does the pricing,

Anyway they don't serve it up in Hospitality, so that's cheered me up, little victorys and all that


They don't sell it in the chairmans lounge on a match day either.


It's free. 👀

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How have American owners changed Swansea City? on 22:40 - Sep 13 with 1165 viewsxmastree

How have American owners changed Swansea City? on 22:26 - Sep 13 by whiterock

It was sold in hospitality long before your man got involved, don't think they can do the volume for the concourse,


Are you sure.? Hospitality doesn't do cask beer. I know that for certain.
They can do the volume. Go see the brewery.
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How have American owners changed Swansea City? on 22:40 - Sep 13 with 1165 viewsEasternJack

How have American owners changed Swansea City? on 10:48 - Sep 13 by Shaky

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.


You're right. I was focussing on the more simplistic message around around what external capital injection actually translates into

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How have American owners changed Swansea City? on 23:17 - Sep 13 with 1148 viewsLeonWasGod

How have American owners changed Swansea City? on 16:31 - Sep 13 by Shaky

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 2017 17:00]


Excellent post and we'll worth a read by those who only base their views on net transfer spend in a window or season.
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How have American owners changed Swansea City? on 23:28 - Sep 13 with 1138 viewswhiterock

How have American owners changed Swansea City? on 22:40 - Sep 13 by xmastree

Are you sure.? Hospitality doesn't do cask beer. I know that for certain.
They can do the volume. Go see the brewery.


Ok Steve
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How have American owners changed Swansea City? on 23:32 - Sep 13 with 1137 viewsSwanjaxs

How have American owners changed Swansea City? on 22:20 - Sep 13 by xmastree

Why don't you check first to see if said product was being sold at the liberty before or after he got involved. If before then i think your aguement a little tenious. I also doubt that a few pints sold in one bar, 30 odd times a year will line anyones pockets.


You are of the Dineen clan and i claim my fiver 😂 come on front up 🤔😂

You might think I've forgotten, but one day, when you least expect it, my time will come.
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How have American owners changed Swansea City? on 23:36 - Sep 13 with 1128 viewsSwanjaxs

How have American owners changed Swansea City? on 22:27 - Sep 13 by Darran

They don't sell it in the chairmans lounge on a match day either.


It's free. 👀


Now this is a revelation! 😮 not ...... pigs in troughs oink oink 🐷

You might think I've forgotten, but one day, when you least expect it, my time will come.
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How have American owners changed Swansea City? on 09:48 - Sep 14 with 1068 viewsShaky

Well notwithstanding that almost certainly nobody here fully understands what i am talking about, i trust the more thoughtful posters will find it instructive that trusted lackey desperate Des turns up along with a sidekick and xmastree of all people to piss all over this important line of discussion.

Pearls before swine, as they say.

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How have American owners changed Swansea City? on 09:56 - Sep 14 with 1063 viewsShaky

How have American owners changed Swansea City? on 22:40 - Sep 13 by EasternJack

You're right. I was focussing on the more simplistic message around around what external capital injection actually translates into


Understand that, and that was one of the reasons I posted on this; one should always be wary of substituting repetition of slogans for critical analysis.

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