The scale of the mess

It's a unique situation for me because I'm all for the sales of the players this time round because I don't have an attachment to any of them.

 

From a purely footballing point of view, using free transfers and loans to supplement academy promotions isn't the worst way to go. It seems bizarre that we are one of only a few championship clubs to continue to spend transfer fees in all three transfer windows since games went behind closed doors. Particularly the fees spent on players with barely any first team games behind them. It's just a shame that it would take us getting to a position that requires redundancies to get to such a model.

 

I don't mind having 'another look' at players but I think as Loko has suggested it's not enough to do that. There are several players listed here taking up large chunks of our wage budget- to the extent that we are selling the core of the squad to see out their contracts. What you have highlighted there is anothe core issue with the PMG ownership. We take the losses on failed development, but the group as a whole is alright jack because the failed player resurfaces as a cheap signing for a smaller member of the group. Meanwhile we slide into administration paying the costs and the owners walk away Scott free of the worse happens.

 

Hi Red Rain, always find your posts informative. One thing though. Have they invested £8m? They are being sued for non-payment under an installment plan, we think they used £750k of club funds to make one installment and possibly used more to club cash to pay the installments they have paid. I'm intrigued what will happen if they lose the court case. Relegation this season may help them negotiate a lower purchase price as that was on the table when they originally "bought" the club or if they can't knock the price down do they put it into admin?. They could have a pre-pack buyer waiting in the wings. I don't think the vendor would count as a footballing debt so could make a voluntary arrangement that wouldn't affect the league share. I have a suspicion that the demise of the clubs they have their hooks into isnt down to incompetence.

 

We still had cash on the balance sheet and income from sales such as Pinnock coming in. Anyway, Mowatt was hell-bent on running his contract down so that he could maximise his signing-on fee, and declined a new contract. I’m happy Wolfe has signed an extension, but he’s hardly comparable to Mowatt at this stage of his career. As for Palmer, his future at the club has to be in doubt given his performances this season, don’t you think? Perhaps Aitchison may sign an extension, or the club might decide to get whatever it can for him given the financial position we appear to be in. Time will tell.

 

But, despite what Conway may have said a few years ago, there hasn't been a one size fits all approach. We've seen players run their contracts down (Mowatt, Davies, Jackson), extend a few months before their contract expired (Wolfe), and others sold (Pinnock, Lindsay).

No idea what will happen with Wolfe. I suspect if an offer comes in that exceeds his value on the balance sheet, then it will be accepted. Same applies for the whole squad really.

 

I thought the same but secured against what? The club has no assets like the ground or surrounding land.

 

Slightly different circumstances, a realistic shot at the megabucks of the Prem.

 

Not sure it has to be secured against anything to get a loan in football!

 

The owners have invested nothing into the club. Indeed, they have taken £750k out, illegally in my opinion. They paid close to £8m to the Cryne family for 80% of their shares in the club, but that money went to the Cryne's and not to the club. The club does not have any money, so there is no money to extract, even if they wanted to.

 

The new hand dryers maybe?

 

Conway will sell some of his SPACS to rich fuddy duddy Americans with more money than sense.

 

Free Tampons.

 

Just a non-scientific thought on this. Some of their investments in football clubs will succeed and some will fail. They may by now have concluded that there is no easy route to financial success with Barnsley FC. It is reported in places that they paid é23M for OGC Nice, and sold for é100M. In this context, if they did put £8M in to BFC then writing that off at this stage may appeal more than throwing good money after bad. After all, they still have other clubs to play with. I can turn a profit with 33% of my horseracing selections winning, but it does mean that I have to be content with 66% of them losing!

 

You could well be right. If you are right, the hole just got deeper.

 

What about our Cal?

 

He's never seen a footballer.