The scale of the mess

I’m not saying we let it run down, we offered him the highest contract in our history to stay (by all accounts). What I mean is we didn’t rush to get him out of the door at all costs, either in the Summer or January, because he hit 12 or six months left on his contract.

 

Our understanding…..

is that rather than take the funds owed on previous loans to the club out of the accounts at the point of sale, those funds/reserves were left in there due to the potential relegation looming over us.

As a result there was a further £6m owed on the sale IF Morais kept us up or if we came back up at the first attempt from League One. This £6m was negotiated down to £3.5m regardless of success/failure around March time under Stendel, when promotion was looking far from a foregone conclusion. This meant that the current owners wouldn’t have to pay the full £6m if we went up, and the Cryne family wouldn’t go with nothing if we stayed down.

That’s where the outstanding balance of £2.75m comes from and the £750k payment that left the accounts. The reason the board agreed the payment could come from the club is because that was agreed as part of the deal. If we’d have stayed up under Morais I assume that £6m would have walked out of the door that Summer in one go or at least in one of two instalments.

Don’t agree with it. Can’t explain the way the payment was made. Or what needs to be noted on the accounts as a debtor or future payment. But that’s the synopsis we’ve been given so far.

I guess the reason it didn’t show in the accounts was because it wasn’t confirmed or guaranteed? And then future payments haven’t shown because the whole sum is going to court as one side argues that conditions weren’t met in the maintenance of the ground, so again isn’t guaranteed.

It’s infuriating that the owners have let this issue avalanche like it has though. Court case or no court case.

 

Fully aware of that mate and know how football transfers work. But we didn’t accept offers from clubs and have Mowatt turn down moves. We never accepted any offers.

 

Never once have an claimed to understand accounts. Not once.

I wouldn’t disagree with anything you’ve said. Haven’t I even suggested as much?

Slight bit of mansplaining vibes going on with the football transfers though

 

You accept any offer that comes your way and don’t negotiate?

Accepting £500k instead of demanding £1m, leading to more funds towards wages to suit the player?

 

We don’t know that though do we? Because we didn’t accept any offers.

If we were desperate to move on then word would have got out the fee was less and more clubs would have come in for him on the same terms as he got this Summer.

 

I think as always the truth is somewhere in between. Mowatt wasn’t refusing to move, because the offers didn’t come in. If we’d have accepted an offer there’s a chance he might have stayed anyway to have better opinions in the Summer.

If we wanted him to move him on though we could have encouraged it by reducing the asking price. The fact we didn’t was a positive.

 

I’m going back nearly 18 months though!