Owls accounts show £4.9 million loss

[rossyrooney 12]

Is there a football club that actually SHOWS a profit on their returns.

I mean how is it possible for premiership teams that draw in 60,000 spectators plus the millions that they get from Sky to make a loss.

 

 

Ridiculous wages is a start.

[Droppingwell 10]

Poor figures when you allow for the much higher gates that accompany a promotion season. Presumably this loss has been underpinned either by Manderic personally or by the recent re-mortgage of Hillsborough.

 

If stood by Manderic then at least the release of the equity from Hillsborough should let Jones make the major purchases needed to secure Championship status.

 

What does Manderic directors loan now stand at? This will indicate how many millions Jones will have to play with.

[rossyrooney 12]

Poor figures when you allow for the much higher gates that accompany a promotion season. Presumably this loss has been underpinned either by Manderic personally or by the recent re-mortgage of Hillsborough.

 

If stood by Manderic then at least the release of the equity from Hillsborough should let Jones make the major purchases needed to secure Championship status.

 

What does Manderic directors loan now stand at? This will indicate how many millions Jones will have to play with.

 

I can't for a minute think that there are any banks rushing to offer S.W.F.C. an overdraft facility to the tunes of millions after the Co-op swallowed a £21m+ loss,can you?

 

M.M will be juggling his money around to keep losses at a minimum in order to show as healthy as possible financial position to any prospective investor or buyer.

[chopperfan 10]

Poor figures when you allow for the much higher gates that accompany a promotion season. Presumably this loss has been underpinned either by Manderic personally or by the recent re-mortgage of Hillsborough.

 

If stood by Manderic then at least the release of the equity from Hillsborough should let Jones make the major purchases needed to secure Championship status.

 

What does Manderic directors loan now stand at? This will indicate how many millions Jones will have to play with.

 

Read what Jones has to say on this himself he says the loan market will be used and if there is any money to be had for transfers the owner of the club who is in Mexico hasn't said anything to him yet.

[Droppingwell 10]

I can't for a minute think that there are any banks rushing to offer S.W.F.C. an overdraft facility to the tunes of millions after the Co-op swallowed a £21m+ loss,can you?

 

M.M will be juggling his money around to keep losses at a minimum in order to show as healthy as possible financial position to any prospective investor or buyer.

 

I agree if it was unsecured, but the loan Wednesday have taken is secured on the ground so from the banks point of view safe money. If the owls don't pay they would repossess. So yes there will be a lender in that scenario.

 

---------- Post added 31-12-2012 at 19:48 ----------

 

Read what Jones has to say on this himself he says the loan market will be used and if there is any money to be had for transfers the owner of the club who is in Mexico hasn't said anything to him yet.

 

So why have they remortgaged Hillsborough and what is he doing with the funds?

[TAT 10]

I can't for a minute think that there are any banks rushing to offer S.W.F.C. an overdraft facility to the tunes of millions after the Co-op swallowed a £21m+ loss,can you?

 

M.M will be juggling his money around to keep losses at a minimum in order to show as healthy as possible financial position to any prospective investor or buyer.

 

The co-op hit, saw them pull out of football all together. Unless the interest rates are less than the UK, why would you borrow from a Yank lender? unless your credit rating is lower than a snakes belly?

 

Why would any UK bank deal with the Owls after the rough ride and ulimatums the co-op were force to endure?

[chopperfan 10]

I agree if it was unsecured, but the loan Wednesday have taken is secured on the ground so from the banks point of view safe money. If the owls don't pay they would repossess. So yes there will be a lender in that scenario.

 

---------- Post added 31-12-2012 at 19:48 ----------

 

 

So why have they remortgaged Hillsborough and what is he doing with the funds?

 

You would have to ask him that but i would think to get some of his money back he claims to have put in.

One thing is for sure where he is concerned he is in it for money and nothing else.

[rossyrooney 12]

No one person has unlimited funds,we can't all have a Russian or Arab sugar daddy.

 

U.K.banks will have placed stringent terms on Wednesday after the Co-op and todays economic situation..M.M.will be having to guarantee any financial moves,you can bet on that.

 

It's ok to say that the loans are against the ground,but the council have final say on anything involving it's future.

 

Dont you reckon that if it was straight forward the Co-op wouldn't have had it to redevolop,their loyalty is to their members not just S.W.F.C.

[TAT 10]

No one person has unlimited funds,we can't all have a Russian or Arab sugar daddy.

 

U.K.banks will have placed stringent terms on Wednesday after the Co-op and todays economic situation..M.M.will be having to guarantee any financial moves,you can bet on that.

 

It's ok to say that the loans are against the ground,but the council have final say on anything involving it's future.

 

Dont you reckon that if it was straight forward the Co-op wouldn't have had it to redevolop,their loyalty is to their members not just S.W.F.C.

 

Dave Allen might have pulled a few strings hence the long distance loan.

[Droppingwell 10]

No one person has unlimited funds,we can't all have a Russian or Arab sugar daddy.

 

U.K.banks will have placed stringent terms on Wednesday after the Co-op and todays economic situation..M.M.will be having to guarantee any financial moves,you can bet on that.

 

It's ok to say that the loans are against the ground,but the council have final say on anything involving it's future.

 

Dont you reckon that if it was straight forward the Co-op wouldn't have had it to redevolop,their loyalty is to their members not just S.W.F.C.

 

I assume the co-op will have had a floating charge over all assets not a specific charge over the ground. Therefore they would not have been able to repossess and redevelop only appoint an Administrator who works for all creditors not just them. The recent remortgage is a charge over the ground only so it is a different scenario. Last time the club was a risk this time only the ground.

[neepsendlane 11]

All this mirth about Wednesdays financial situation makes me wish we had Uniteds owners in charge who, some how, have made the millions they POCKETED from the parachutes, Tevez, and the selling of the academy youngsters vanish into mid air.

Perhaps Paul Daniels is the financial adviser down at the Owls previous home.

[Droppingwell 10]

All this mirth about Wednesdays financial situation makes me wish we had Uniteds owners in charge who, some how, have made the millions they POCKETED from the parachutes, Tevez, and the selling of the academy youngsters vanish into mid air.

Perhaps Paul Daniels is the financial adviser down at the Owls previous home.

 

I think you will find they spent it on wages for poor players and reducing the debt owed to the Directors. It was all in their accounts. They do now seem to have cleared the decks of the high earners.