Firestorm
Pedant
Obviously the apparent perilous financial state is concerning me, but I have started to get niggling doubts about matters of integrity since rm's last blog.
we owed around 6M according to the last accounts and RM went public around 6 months ago with a comment along the lines that the 2.4 million loss of the last reported year was likely to be repeated in the year to 31/7/09.
(Although I have not got the accounts to hand)
Given at the time of the last accounts the main creditors were listed as Parent companies and they formed over 50% of the balance owed, we are in a position to do a "Leeds" , go into voluntary administration and then have the potential to have RM accept offers which would screw other creditors , so he can get the club back on the cheap.
Given the venom Ken Bates attracted for the way he got Leeds out of administration, paying US, the tax payer , only 10% of what he owed and ripping off the local Police force (our money again really) St Johns Ambulance and local Tradesmen, How would we react if RM were to do similar.
Hopefully he is desperately trying to secure funding before Wednesday, to keep administration at bay, rather than spending his time preparing to buy back the club at a cut price on the back of reduced creditor payments.
we owed around 6M according to the last accounts and RM went public around 6 months ago with a comment along the lines that the 2.4 million loss of the last reported year was likely to be repeated in the year to 31/7/09.
(Although I have not got the accounts to hand)
Given at the time of the last accounts the main creditors were listed as Parent companies and they formed over 50% of the balance owed, we are in a position to do a "Leeds" , go into voluntary administration and then have the potential to have RM accept offers which would screw other creditors , so he can get the club back on the cheap.
Given the venom Ken Bates attracted for the way he got Leeds out of administration, paying US, the tax payer , only 10% of what he owed and ripping off the local Police force (our money again really) St Johns Ambulance and local Tradesmen, How would we react if RM were to do similar.
Hopefully he is desperately trying to secure funding before Wednesday, to keep administration at bay, rather than spending his time preparing to buy back the club at a cut price on the back of reduced creditor payments.