David Marshall

Poor Wigan. They won't have any fecker left come September😕

That said you'd definitely be sniffing around as they have a few decent players.
 
Why aren’t we ok for cash? Gibbo wrote off debt, we’ve been in prem more recently than most, Tony Pulis left is in a strong position and we’ve not spent since then plus many big contracts have now left us.

Where has the money gone?
 
We’re not okay for cash as the club generates very little money, we wasted our premier league money on monks unbalanced overpriced squad, championship tv money is not good, we still have a few players on high wages whose displays do not warrant what they are on, yes we have saved recently but we now have reduced season ticket income and no ticket sales or other match day revenues to top up the coffers.
 
So tell me how these issues don’t affect other clubs without the great Steve Gibson?
 
If you bought Fly Me To The Moon last season - our resident investigative accountant, Mike Kelly ran the rule over the books of our opponents and Boro during the season - his findings were really worrying for many. ie how are Derby able to outbid us - by massive loans and they are continuing to gamble on the future of the club. Boro are very well structured compared to nearly all others but that means loads of clubs are still spending well beyond their means even after everything that has happened this year. There are lots of potential Wigan, Bolton and even Bury's out there in our division. Personally, in these times I think that is just so wrong.
 
If you bought Fly Me To The Moon last season - our resident investigative accountant, Mike Kelly ran the rule over the books of our opponents and Boro during the season - his findings were really worrying for many. ie how are Derby able to outbid us - by massive loans and they are continuing to gamble on the future of the club. Boro are very well structured compared to nearly all others but that means loads of clubs are still spending well beyond their means even after everything that has happened this year. There are lots of potential Wigan, Bolton and even Bury's out there in our division. Personally, in these times I think that is just so wrong.
Rob we are not well structured at all.
There is massive negative net value due to low capital and reserves with very high debt to parent.
Without promotion we will carry on making big losses, which further compounds the debt and negative net shareholder value.
Our advantage is low cost of servicing the massive debt to Gibson O’Neill, but it is a basket case of a “business”
If Gibson has no intention of injecting equity it will make assembling a promotion squad very difficult.
Stuck with each other.
 
But Gibson is restricted by FFP like every other owner in the EFL. Surely those currently ignoring FFP will be caught out eventually one way or another. If and when their current owners sell they could find they have been asset stripped of grounds, training grounds and other facilities.
 
But Gibson is restricted by FFP like every other owner in the EFL. Surely those currently ignoring FFP will be caught out eventually one way or another. If and when their current owners sell they could find they have been asset stripped of grounds, training grounds and other facilities.
Gibson could inject equity, not just enable Group undertakings (internal loans). That is actually putting money in, not just guaranteeing it.
That would improve the financial structure of the business, by definition AND it would provide more cover for FFP.
It's up to him of course, but his best chance of making the club self sufficient (as it was 2017-19) is to get promoted. For that he needs a squad and will have to inject equity to stay FFP compliant. There is no sign as yet of him doing that since 2016.
 
Once you've had your fingers taken off by Monk and his spending Im not surprised. Its a fine balancing act with precious resource and a EFL business model that is fundementally broken.
 
Fact is if I was an extremely wealthy man - and Im not by the way - the last place on earth Id invest my money is in a Championship Football Club even one in which I love with all my heart. It would be massively stupid way to lose money. Thats why I tip my hat to guys like Gibson who have the balls to risk millions on this morally corrupt bent, basically financially flawed business.
 
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