Does Steve Gibson take a Salary from MFC

I didn't say that. What I will have said is that he once blamed me across a room of 200 people for all Boro's woes. I was the enemy within. Living off the club. It was not pleasant.
You know what though, over 20 years on and things can and have changed. We all move on. I made my peace with Steve Gibson when we came together, quite literally in a queue for an England game in the Japan World Cup in 2002.

Soutra - Steve Gibson is adamant that there is no debt either to him or anyone else. He also says there is a succession plan but he guards it carefully from all but the executive.
Rob - there IS debt to Gibson O'Neill Parent Group.
There is over £140m of it. There is no other significant debt.
From a FFP perspective I believe that loans can only be used to fill the additional £8m per season loss permitted with equity injection (above the basic allowable £5m per season loss) IF those loans are eventually converted to equity. That is a bit of a red herring as losses made have to be covered/funded whether they are FFP compliant or not.
Other clubs - like Bristol City, Villa, Fulham, Everton have converted debt to equity, not sat with huge loans to Parent.
But that is writing off the debt. Gibson has not done any of that since £8m injection in 2016.
If he writes off the loan it impacts the Group and the companies within
There IS debt, it is very real. He chooses to structure that way.

He may have a succession plan and of course he will guard it.
Why would I have any more confidence in that than his other decisions of the last 17 years.
I support MFC, not Steve Gibson.

You are a big man for making your peace with Steve after some classic Gibson behaviour. He is an obnoxious man the closer you get to him. Those who have been there know.
 
Back
Top