MobileB Posted November 10, 2004 Share Posted November 10, 2004 Originally posted by gettingon Not being close to the situation myself, can you help me understand why they can't cover ongoing costs from this kind of attendance figure. I keep seeing the overall debt figure going up, but thought they'd overhauled the team getting rid of the high earners. Like I said I'm at a distance to the situation but have a fondness for the club. Im told the club need to sell 9,000 season tickets just to pay the interest payments to the bank and director loans. They have sold 13,500 season tickets so effectively they are running the club on 4,500 season tickets plus whatever they take through the gate. That means players wages, academy costs, ground costs etc etc etc. For a club the size of Wendy, this is very small. Link to comment Share on other sites More sharing options...
Ned Ludd Posted November 10, 2004 Share Posted November 10, 2004 If Wednesday can clear the debt, how long will it take? 15 years? Can fans wait that long to see a realistic tilt at promotion to The Premiership (or whatever it will be called then) Better for the club and fans to go into administration even if it's bad news for the bank and Dave Allen who are owed money. Trouble is, the major creditors won't call in the debt because they will lose out. They are prepared to wait 10 -15 years or more to recover the debt but are the fans prepared for the same? Robbie is right, a dip in gates and the debt spirals even further out of control...there's no light at the end of the tunnel. I feel for Sturrock as I did for Jewel, good men on a slowly sinking ship. Link to comment Share on other sites More sharing options...
MobileB Posted November 10, 2004 Share Posted November 10, 2004 Originally posted by Ned Ludd If Wednesday can clear the debt, how long will it take? 15 years? Can fans wait that long to see a realistic tilt at promotion to The Premiership (or whatever it will be called then) Better for the club and fans to go into administration even if it's bad news for the bank and Dave Allen who are owed money. Trouble is, the major creditors won't call in the debt because they will lose out. They are prepared to wait 10 -15 years or more to recover the debt but are the fans prepared for the same? Robbie is right, a dip in gates and the debt spirals even further out of control...there's no light at the end of the tunnel. I feel for Sturrock as I did for Jewel, good men on a slowly sinking ship. Problem is if they go in adminstration they are automatically docked 10 points and that would probably mean relegation rather promotion. Also by doing so, Dave Allen would be in real danger of losing his gaming license and that is his living. So rule that one out. Link to comment Share on other sites More sharing options...
Ned Ludd Posted November 11, 2004 Share Posted November 11, 2004 Interesting what you say about Allen's license (although he's not going to risk losing the million(s) he put into Wednesday either.) 10 points would be worth it though. Then there is the Leeds example. Haven't their creditors accepted a deal which writes off 2/3rds of United's debt and haven't been docked points? Something similar could turn things round for Wednesday...£10M wouldn't be too bad Link to comment Share on other sites More sharing options...
gettingon Posted November 12, 2004 Share Posted November 12, 2004 Originally posted by MobileB Im told the club need to sell 9,000 season tickets just to pay the interest payments to the bank and director loans. They have sold 13,500 season tickets so effectively they are running the club on 4,500 season tickets plus whatever they take through the gate. That means players wages, academy costs, ground costs etc etc etc. For a club the size of Wendy, this is very small. Thanks for the reply. Sounds like a bad situation. You've got a premiership level gate with league 1 salaries, and still can't get by. I guess the away game receipts in league 1 aren't much to write home about though. I wonder what kind of interest return allen and other investors are receiving, for it to take 9,000 season tickets to pay for that alone? It sounds like alot. Link to comment Share on other sites More sharing options...
kelly_owls Posted November 15, 2004 Share Posted November 15, 2004 Wilson was to blame for the start of the decline but our other managers since then have made the situation no better. Sturrock will do it for us though! W E D N E S D A Y T I L I D I E ! Link to comment Share on other sites More sharing options...
Guest Posted November 15, 2004 Share Posted November 15, 2004 Man U offered 5 million for Hirst. You kept hirst and they got Cantona and you have looked downwards ever since Link to comment Share on other sites More sharing options...
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