Your are viewing a read-only archive of the old DiS boards. Please hit the Community button above to engage with the DiS !
Man City to sell Shaun Wright-Phillips to Madonna.
Done deal, apparently
Belsizeparka: Hello? One second.
'Bastard_cat, it's for you. Yeah it's 4 days ago, they want their joke back.'
'I'll just put you through.'
it's horribly racist.
i do not approve.
I think that Leon Crouch is pretty much our only hope. Barclays and Aviva seem to be slightly more flexible for the administrators than they were for the outgoing board, but even with small concessions as soon as the season is over and there is no matchday revenue, we're doomed. We've been looking for financial backing for around the last 18 months, if we couldn't get it then then there is no reason to think we'll get it now
It's worth about £30m, the mortgage on it is around £24m. Selling it and leasing it back is an idea, but who would buy it? Pretty much only the local council, and they've not shown any interest so far.
The combined debt is in the region of £27m-£28m, but debt is also relative to how much money you or your backers have, or how much money you generate. When gates are as low as 15,000 and you have to pay worthless fucks like BWP £5,000 a week, there isn't a great deal left.
The club is available for £15m-£20m. That will get you nearly £30m worth of debt, before you start paying any wages. Seems that anyone looking at Southampton with any great interest is going to need something in the region of £40-£50m in their back pocket before administrators will take them seriously
because Rupert Lowe was in charge. Whether that was the real reason or not, a lot of fans had said that they would never go to St Mary's again if he was in charge. Prices have been reduced and/or other schemes are in place for the last 3 home games, children for under a fiver for example or buy both the home and away shirt from the shop and get a match ticket free. This weekend is a sell out, remains to be seen about the other two. The administrators made the point that we are more likely to find a seller if we can prove that we'll regularly get gates of 25k+
with the four corners closed, which they are still.
Just over £4m is an overdraft with Barclays, which we've exceeded and they've refused to extend. £24m is with Aviva who hold the mortgage on the stadium. I've not heard that Aviva have turned on us, but they're laying people off so they're probably not too flush. I have heard they are willing to bend to some small degree, though.
We can pay people off whilst the season is in full swing, is the long and short of it. As it stands when the season finishes we won't be getting money through the door, we will still owe Barclays money, we will still need to make monthly mortgage payments and BWP will still want his 30 pieces of silver a week. The position we're in means that we can't use season ticket money for next season either, for reasons I'm not sure of. We could probably raise £5m+ from the likes of Lallana, Surman, Kelvin Davis (please don't go Kelvin) etc. but it's all firefighting, a few million right now will probably only put off the inevitable