Colinjb Posted 7 August, 2008 Share Posted 7 August, 2008 According to footy365. Frankly? HOW!? They made a **** load of TV money, have sold their stronger players and still have a years worth of parachute payments coming in. So how the f*ck are they close to administration!? Buzzin' Orn, any ideas? Link to comment Share on other sites More sharing options...
Ludwig Posted 7 August, 2008 Share Posted 7 August, 2008 £45M in wages in the last 3 years. Ashton and Simpson hoarding money, silly wages for Kabba, Ellington, Hoskins, Henderson, Stewart, Mahon, Francis and others. Poor investment and they've lost 'ring-fenced' money for stadium development. They won't get close to administration mind, they've got the Russo brothers (ex-directors who were taken off the board to disagreements with the current c*ntish hierarchy) willing to buy up and Lord Ashcroft who's underwritten a lot of the loans and would pay up if it becomes that dire. They have no pro-active investment and will have to rely on getting lucky again. A lot of short-term loans have been called in by the bank (notable one of £6M) when they didn't get promotion. This is the main cause. However they aren't that bad IMO, they will sort themselves out (Elton John would probably save them again ffs) but they're still pretty screwed and without a takeover (not inc. Russos) will be without funds to compete at this level, but merely survive. Link to comment Share on other sites More sharing options...
Ludwig Posted 7 August, 2008 Share Posted 7 August, 2008 Have just heard a rumour (sounds half-decent and very plausible considering they need a striker, not entirely sure about it though but still.... De La Cruz, Bamba and Rasiak to sign for them tomorrow morning. The first two are likely, although Bamba is at the Olympics, but they desperately need a striker and wouldn't be surprised if they sign Rasiak on loan with a view to a permanent in January. Link to comment Share on other sites More sharing options...
Colinjb Posted 7 August, 2008 Author Share Posted 7 August, 2008 Just so long it's 100% of wages. Would make footy365 look mighty stupid if they did. Link to comment Share on other sites More sharing options...
Ludwig Posted 7 August, 2008 Share Posted 7 August, 2008 They released a club statement today, saying they're nowhere near admin, but are cutting costs ahead of the lack of parachute payments next season and have repaid all short-term loans except one outstanding to the chairman. Also says they've a good relationship with Barclays and have spent the money for stadium redevelopment on smaller things. Plus they're looking for external investment. They admit they're a bit short on cash, but not as disastrous as some would like you to think. I hope if Rasiak leaves, it is to there, I like the fella. Link to comment Share on other sites More sharing options...
saint_stevo Posted 7 August, 2008 Share Posted 7 August, 2008 Buzzin are you a watford fan? im sure i should have already known such a fact if so Link to comment Share on other sites More sharing options...
Ludwig Posted 7 August, 2008 Share Posted 7 August, 2008 I'm not a fan. But I do follow my local club. Link to comment Share on other sites More sharing options...
Sundance Beast Posted 7 August, 2008 Share Posted 7 August, 2008 Two schools of thought: 1) They didn't have an expert chairman with same experience and strategies as one R Lowe. 2) Did Leon Crouch become their Chairman after he left us? Link to comment Share on other sites More sharing options...
Gully Posted 7 August, 2008 Share Posted 7 August, 2008 I'm not a fan. But I do follow my local club. Out of interest Buzzin, why do you follow saints? Link to comment Share on other sites More sharing options...
Ludwig Posted 7 August, 2008 Share Posted 7 August, 2008 Out of interest Buzzin, why do you follow saints? Was somewhat raised to be so, not by my dad but by other family members. Link to comment Share on other sites More sharing options...
TopGun Posted 7 August, 2008 Share Posted 7 August, 2008 Two schools of thought: 1) They didn't have an expert chairman with same experience and strategies as one R Lowe. 2) Did Leon Crouch become their Chairman after he left us? I'm interested to see that SB can't stand a £5... The thought of him limited to 3 posts a day makes me want to pay £50 for 10 other people! Link to comment Share on other sites More sharing options...
Gully Posted 7 August, 2008 Share Posted 7 August, 2008 Was somewhat raised to be so' date=' not by my dad but by other family members.[/quote'] Fair enough, I was raised in Gosport by a dad that supports Pompey. I just have a glutton for punishment. Link to comment Share on other sites More sharing options...
AwaySaint1 Posted 8 August, 2008 Share Posted 8 August, 2008 Dont think EJ is in a possition to bail them out again? unless they become a flower warehouse. Do they still ground share with the ruby club? Link to comment Share on other sites More sharing options...
Ludwig Posted 8 August, 2008 Share Posted 8 August, 2008 Saracens rent it from them. (until 2010? liquidsnake knows more than me on that sort of thing though) Link to comment Share on other sites More sharing options...
scooby Posted 8 August, 2008 Share Posted 8 August, 2008 Two schools of thought: 1) They didn't have an expert chairman with same experience and strategies as one R Lowe. 2) Did Leon Crouch become their Chairman after he left us? I think it really should serve as a wake up call to our so-called 'fans'. They should be down on their knees thanking Lord Lowe for the financial savvy he has brought to this club. His services are literally worth millions per year, and that is what we would have had to pay him to secure his services in the private sector. Link to comment Share on other sites More sharing options...
stevegrant Posted 8 August, 2008 Share Posted 8 August, 2008 His services are literally worth millions per year, and that is what we would have had to pay him to secure his services in the private sector. So why did he come back then, if he could command multi-million pound salaries elsewhere, and why hasn't he been headhunted since rejoining the SLH board? Surely the amount he'd stand to lose on his shares (about £500k at the moment) is peanuts compared to the amount he could earn elsewhere... Link to comment Share on other sites More sharing options...
Sheaf Saint Posted 8 August, 2008 Share Posted 8 August, 2008 £45M in wages in the last 3 years. Ashton and Simpson hoarding money' date=' silly wages for Kabba, Ellington, Hoskins, Henderson, Stewart, Mahon, Francis and others. Poor investment and they've lost 'ring-fenced' money for stadium development. They won't get close to administration mind, they've got the Russo brothers (ex-directors who were taken off the board to disagreements with the current c*ntish hierarchy) willing to buy up and Lord Ashcroft who's underwritten a lot of the loans and would pay up if it becomes that dire. They have no pro-active investment and will have to rely on getting lucky again. A lot of short-term loans have been called in by the bank (notable one of £6M) when they didn't get promotion. This is the main cause. However they aren't that bad IMO, they will sort themselves out (Elton John would probably save them again ffs) but they're still pretty screwed and without a takeover (not inc. Russos) will be without funds to compete at this level, but merely survive.[/quote'] Call me crazy, but doesn't that all sound vaguely familiar? This is why I am drastically losing interest in football. The money involved is just ridiculous these days and when clubs (just like ours) can't even survive without massive injections of cash from rich benefactors then something is seriously wrong. Link to comment Share on other sites More sharing options...
RMoo2 Posted 8 August, 2008 Share Posted 8 August, 2008 I have a family memeber who works for Watford and I'm pretty sure he would have told me if they were going to try and get Rasiak on loan. Link to comment Share on other sites More sharing options...
scooby Posted 8 August, 2008 Share Posted 8 August, 2008 So why did he come back then, if he could command multi-million pound salaries elsewhere, and why hasn't he been headhunted since rejoining the SLH board? Surely the amount he'd stand to lose on his shares (about £500k at the moment) is peanuts compared to the amount he could earn elsewhere... He can, and does, do both. He is currently at the helm of one of the most dymanic and progressive investment banking firms in the world. Link to comment Share on other sites More sharing options...
liquidsnake Posted 8 August, 2008 Share Posted 8 August, 2008 Buzzin's assessment of Watford is pretty much spot on. They're in a bit of bother, but have got too many saviours who'd come out of the woodwork before anything drastic happened. If Watford's finances were in a better state then Saracens would have been out on their ear a long time ago (a 1 year notice period can be given to them at any time), but in the current climate the annual 400k + catering profits and the like that they generate for the club are more than welcome. The current deal with them ends in 2011, and as much as the club would love to get rid of them, it's more than likely that deal will be extended. As far as the Rasiak rumour is concerned, Watford would love him, but then they'd love to have a striker full stop. Unless a mega cheap deal can be arranged I think it'd be much more likely that Watford get a couple of young strikers on loan from Premier League clubs. Link to comment Share on other sites More sharing options...
AwaySaint1 Posted 8 August, 2008 Share Posted 8 August, 2008 He can, and does, do both. He is currently at the helm of one of the most dymanic and progressive investment banking firms in the world. Scooby can you stop posting facts. Thank you. Regards the Watford talk why dont we find a rugby or (Hockey) club to ground share with us? Link to comment Share on other sites More sharing options...
mack rill Posted 8 August, 2008 Share Posted 8 August, 2008 Lets hope that Scoobys mouth wash will cure Ring Lips;) Link to comment Share on other sites More sharing options...
Ludwig Posted 9 August, 2008 Share Posted 9 August, 2008 I have a family memeber who works for Watford and I'm pretty sure he would have told me if they were going to try and get Rasiak on loan. Boothroyd has now made the signing of a striker his top priority and he will attempt to sign a Championship striker, with an international pedigree, on loan next week. Only Rasiak and Mifsud really fit the bill where I stand. Link to comment Share on other sites More sharing options...
saintcrris Posted 9 August, 2008 Share Posted 9 August, 2008 I think it really should serve as a wake up call to our so-called 'fans'. They should be down on their knees thanking Lord Lowe for the financial savvy he has brought to this club. His services are literally worth millions per year, and that is what we would have had to pay him to secure his services in the private sector. lol He is my hero as well, I have pictures of him all over my walls. Link to comment Share on other sites More sharing options...
Rattlehead Posted 9 August, 2008 Share Posted 9 August, 2008 He can, and does, do both. He is currently at the helm of one of the most dymanic and progressive investment banking firms in the world. So to answer the question, why come back to Saints? Only a thickee would do that, if what you say is true (which it isn't). Perhaps it is because he loves the club, who knows. Link to comment Share on other sites More sharing options...
RMoo2 Posted 11 August, 2008 Share Posted 11 August, 2008 I have a family memeber who works for Watford and I'm pretty sure he would have told me if they were going to try and get Rasiak on loan. I have spoken to my brother and they are actuall trying to get Rasiak on loan. Link to comment Share on other sites More sharing options...
Ludwig Posted 11 August, 2008 Share Posted 11 August, 2008 My source was right for once! Link to comment Share on other sites More sharing options...
Scummer Posted 11 August, 2008 Share Posted 11 August, 2008 My source was right for once! Has he gone then? Nothing on the OS? Link to comment Share on other sites More sharing options...
Ludwig Posted 11 August, 2008 Share Posted 11 August, 2008 no, just that interest is actually there for once, not foundationless rumour. I don't think they'll agree terms though, his wages for one will be a bit too much IMO. Link to comment Share on other sites More sharing options...
stevegrant Posted 11 August, 2008 Share Posted 11 August, 2008 My source was right for once! A stopped clock tells the right time twice per day... Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 11 August, 2008 Share Posted 11 August, 2008 A stopped clock tells the right time twice per day... Yup, and wrong for the other 86,398 chances it gets! Link to comment Share on other sites More sharing options...
RMoo2 Posted 13 August, 2008 Share Posted 13 August, 2008 I have spoken to my brother and they are actually trying to get Rasiak on loan. My brother has just texted me to say he is coming down to Southampton tomorrow to complete the loan signing of Rasiak Link to comment Share on other sites More sharing options...
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