| Dan James 19:59 - May 11 with 3772 views | max936 |
Sent off in Leeds v Chelsea game, it was a bad one  |  | | |  |
| Dan James on 01:39 - May 13 with 705 views | STID2017 |
| Dan James on 18:17 - May 12 by jasper_T |
Parachute payments barely cover legacy contracts. We had to halve our wage bill that first season, and then keep cutting.
"No debt" is deceptive. There was no long-standing or fixed debt on the books but the way we were conducting transfers - buying with payments spread over multiple years, factoring the future receivables for upfront cash when we sold - left us with a big stack of liabilities that were set to fall due 1/2/3 years down the line. Around £60m of spending yet to be paid for iirc. So after relegation crippled our revenue we needed to generate cash asap or debts would soon appear and skyrocket (or we'd go bankrupt). |
Good explanation and makes perfect sense.
What you have described there sounds like mismanagement on the part of the new owners, which to me makes them bad owners ( especially for money men ).
So not sure how Resloven can say that due diligence was done and this was a good sale.
It may have suited the former owners, but rather than seeing us improve on what Jenkins and co had achieved, we gradually fell to where we are at this moment.
Therefore a sale which suits the sellers but does not benefit the club = sold down the river, IMHO |  |
| |
| Dan James on 11:07 - May 13 with 618 views | jasper_T |
| Dan James on 01:39 - May 13 by STID2017 |
Good explanation and makes perfect sense.
What you have described there sounds like mismanagement on the part of the new owners, which to me makes them bad owners ( especially for money men ).
So not sure how Resloven can say that due diligence was done and this was a good sale.
It may have suited the former owners, but rather than seeing us improve on what Jenkins and co had achieved, we gradually fell to where we are at this moment.
Therefore a sale which suits the sellers but does not benefit the club = sold down the river, IMHO |
I'm pretty sure the factoring of future payments was happening with the previous owners as well. I remember going back and checking the TV money over the years after panicking when we did it after relegation. More often than not we would have Barclays pay us future instalments in advance, for a fee. Cashflow was always a problem, we didn't have ownership that would stick £10m in the till to pay the weekly bills if we were caught short. As the wage bill skyrocketed to £90m the amount of credit required to run the club escalated.
The final PL season of spending was disastrous. If Clement had taken us down a year earlier we would have been fine as we had valuable assets to sell and would have easily covered liabilities. Instead we survived and some idiot decided to buy Bony and pay an £8m loan fee on Sanches. Two bad windows broke our backs. |  | | |
| Dan James on 12:56 - May 13 with 584 views | STID2017 |
| Dan James on 11:07 - May 13 by jasper_T |
I'm pretty sure the factoring of future payments was happening with the previous owners as well. I remember going back and checking the TV money over the years after panicking when we did it after relegation. More often than not we would have Barclays pay us future instalments in advance, for a fee. Cashflow was always a problem, we didn't have ownership that would stick £10m in the till to pay the weekly bills if we were caught short. As the wage bill skyrocketed to £90m the amount of credit required to run the club escalated.
The final PL season of spending was disastrous. If Clement had taken us down a year earlier we would have been fine as we had valuable assets to sell and would have easily covered liabilities. Instead we survived and some idiot decided to buy Bony and pay an £8m loan fee on Sanches. Two bad windows broke our backs. |
Yes indeed.
We were not bankrolled by some mega rich sugar daddy like Bournemouth, Leicester and other clubs.
As you say though the money spent badly in the last season particularly ( even Andre Ayew, who was a great player for us both times he was with us, but the second time was a massive financial weight around our necks ), had a massive adverse effect which is still impinging on us today | |
| |
| Dan James on 16:08 - May 13 with 547 views | ReslovenSwan1 |
| Dan James on 12:56 - May 13 by STID2017 |
Yes indeed.
We were not bankrolled by some mega rich sugar daddy like Bournemouth, Leicester and other clubs.
As you say though the money spent badly in the last season particularly ( even Andre Ayew, who was a great player for us both times he was with us, but the second time was a massive financial weight around our necks ), had a massive adverse effect which is still impinging on us today |
Ayew was a risk that had to be taken. Sadly he and his brother did not click for Swansea like they have not clicked for Ghana.
Does it really affect the club today?. Ayew could have had three goes at getting Swansea back to the Premier leagues. Potter saved perhaps £3m of his wages but brought to the club Celina John McKay and Asoro for £7m wasted. He did not need any of those players.
He could have kept Ayew paired him with McBurnie and James and got promotion.
Ayew Fer Olsen Narasingh simply tucked into the parachute money. When it ran out he and Cooper jumped ship. MvDH had to stick around as Swansea had the option of another year.
The parachute system and the cashing in of the 2017 u23 team stars left Swansea today with no debts if Winter is to be believed. The convertible loan note provided by people some forum sages do not respect has covered the Covid shortfall and allowed the purchase of at least 3 highly valued players Piroe Downes and Obafemi.
The presence of these three players adds to the value of assets to the club. Silverstein and the Levien group having found £10m can sell these players and take their loan back. Alternatively they can convert and dilute the Trust. (this is a good thing as the Trust have never committed to sharing club costs) |  |
| |
| Dan James on 16:19 - May 13 with 536 views | Whiterockin |
| Dan James on 16:08 - May 13 by ReslovenSwan1 |
Ayew was a risk that had to be taken. Sadly he and his brother did not click for Swansea like they have not clicked for Ghana.
Does it really affect the club today?. Ayew could have had three goes at getting Swansea back to the Premier leagues. Potter saved perhaps £3m of his wages but brought to the club Celina John McKay and Asoro for £7m wasted. He did not need any of those players.
He could have kept Ayew paired him with McBurnie and James and got promotion.
Ayew Fer Olsen Narasingh simply tucked into the parachute money. When it ran out he and Cooper jumped ship. MvDH had to stick around as Swansea had the option of another year.
The parachute system and the cashing in of the 2017 u23 team stars left Swansea today with no debts if Winter is to be believed. The convertible loan note provided by people some forum sages do not respect has covered the Covid shortfall and allowed the purchase of at least 3 highly valued players Piroe Downes and Obafemi.
The presence of these three players adds to the value of assets to the club. Silverstein and the Levien group having found £10m can sell these players and take their loan back. Alternatively they can convert and dilute the Trust. (this is a good thing as the Trust have never committed to sharing club costs) |
No risk ever HAS to be taken, it is always a matter of choice. |  | | |
| Dan James on 16:33 - May 13 with 521 views | ReslovenSwan1 |
| Dan James on 16:19 - May 13 by Whiterockin |
No risk ever HAS to be taken, it is always a matter of choice. |
Norwich in two seasons took no risks by choice and meekly got relegated without a fight. This is not the Welsh way. | |
| |
| Dan James on 18:22 - May 13 with 495 views | Chief |
| Dan James on 16:33 - May 13 by ReslovenSwan1 |
Norwich in two seasons took no risks by choice and meekly got relegated without a fight. This is not the Welsh way. |
Sheep shugging bstards - we know what we are! |  |
| |
| |
By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions.