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Sheffield United have announced to the Stock Exchange that they propose to raise £10 million with a convertible loan notes issue, with the club ready to hand manager Neil Warnock an enviable transfer kitty in January. About £5m will be for first team investment.

 

Full story http://home.skysports.com/list.aspx?hlid=433451&CPID=8&clid=49&lid=4161&title=Blades+in+fund-raising+bid

 

heard this on Radio this morning.

 

First thoughts were:

> why do we need to borrow £10m when we just got £30m for being promoted

> This £5m had better be on top of the money Warnock didn't spend in close season, i.e. he had £10m, maybe spent £6m, so another £4m left

> Hopefully he was getting some more money to spend in January anyway

 

Or is this £5m all he's getting? because £5m won't go very far on 5/6 players he is after.

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http://www.sufc.premiumtv.co.uk/page/PLCDetail/0,,10418~938986,00.html

 

This tells you why convertable loan notes are being used.

 

They are thinking about the long term future of the club, if we blow all the promotion money and we end up going down then it will have been a waste of time getting promoted.

 

People seem to have a mis-conception as to how much Warnock actually had in close season to spend, amounts were flying about in the paper, etc. I don't know how the board works, but people seem to think it's like a contract phone where the minutes you don't use get carried over, that probably doesn't work with regards to money in the kitty for players, i'm sure the club has spent a long time budgeting so we do not go overboard.

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don't get me wrong, I'm not doubting that Sir Kevin McCabe knows what he's doing.

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Since when did giving Neil Warnock a vast amount of money translate into quality signings?

 

I still think on one hand that the signing of Akinbiyi was a waste of money. On the other hand, you could argue that in some way or other (noticeably the goal at Swillsborough) his signing helped us guarantee promotion.

 

But as for our other big money signing, Claude Davis, it remains to be seen as to whether it is money well spent. From what I've seen so far, it isn't and it speaks volumes that the team's improvement in form has rested largely on the efforts of the players I for one expected to be moving on: Gillespie and Morgan.

 

Maybe we don't need to give Warnock another £5m to spend on players like Davis and Akinbiyi? However, it may give us the clout to sign established players who will command large wages - and there are plenty of these in both the Premier and Championship leagues.

 

One thing is for certain. The club will not undo all the hard graft of the last eight to ten years just to appease one or two fans. This club is in its healthiest financial position ever and I believe that should safety be guaranteed this season then the future will hold some very exciting times for Unitedites.

 

So far we're roughly where we expected to be in the league. The team is playing with a stronger collective belief that was missing from the opening fixtures. We're beginning to look as if we belong in the top flight and despite Lee Dixon's claim that we might have to endure a five-nil drubbing at some point, we're making nearly every team we play work hard.

 

Finally, anyone who reads TWaddle's column in the Sun will know it's time to shut this idiot up. Come May I hope he's eating a large slice of Humble Pie (bacon flavoured, of course). If recent form is anything to go by, that could be a large possibility.

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great news about this convertible loan- financial genius!!!

 

3mil still not spent from pre-season, 5 mil from the loan, 2mil from players being sold in jan- i think we could have 10-12million to spend in jan, enough for 2 QUALITY midfielders and alan smith ;)

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Finally, anyone who reads TWaddle's column in the Sun will know it's time to shut this idiot up. Come May I hope he's eating a large slice of Humble Pie (bacon flavoured, of course). If recent form is anything to go by, that could be a large possibility.

 

How very dare you! The greatest player to grace Sheffield's football fields. If he has been cussing united (& rightly so), it should be regarded as football doctrine! :)

 

UTO!!

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How very dare you! The greatest player to grace Sheffield's football fields. If he has been cussing united (& rightly so), it should be regarded as football doctrine! :)

 

UTO!!

 

The fattest player to grace Sheffield's Football Fields - and that includes Fatty Faulks.

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How very dare you! The greatest player to grace Sheffield's football fields.

 

Maybe the greatest player to wear a piggy chuppa chup shirt :D

Definetly not the best player on a sheffield football pitch :loopy:

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ernest needham gets that honour im afraid!

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The fattest player to grace Sheffield's Football Fields - and that includes Fatty Faulks.

 

SUrely Pressman.

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SUrely Pressman.

 

well he certainly was / is a porker (in more ways than one) :hihi:

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Mbo Mpenza is mentioned as a target on the Sheffield Star website.

 

not heard his name mentioned before. He was always a favourite of mine on Championship Manager. :)

 

he could possibly be a good signing - he's very quick and strong, and he's got plenty of experience under his belt!

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