To make money. From you.
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To make money. From you.
To Arsenal fans it is but to others maybe not so much, what give us the define right to be a top 4 team, we were not before Wenger came but people still loved Arsenal for what we were.Quote:
Originally Posted by LDG
IMO the club is a mess from top to bottom and untill all are singing from the same sheet(players, fans and board) Things will only get worse. We have a board that lies to us, a Manager who protects them and players who should not be wearing the shirt.
I agree the aim is not to win things but to get in the CL and make a profit. I think we will see this year where we are and the ambitions of all. Will Stan show us him ambition at last.
Right now the only way we be sucnessful as the top 3 is if we were taken over by a suga daddy.
The stadium was supposed to make us bigger and in long term give us more money. Everything fits into the plan for me getting Wenger,investing in academy and youth and transitioning to a youth in first team policy. How ever since we needed $ up front some of our early deals were piss poor. The bigger money options are not structured favorably and we were not in a position to bargain. Additionally there are few events that we did not plan for
1. The recession which caused us a set back in not being able to sell flats.
2. Chelsea and Shitty with Dollars
& i predict
3. Hoping that FFP rules will bail us out
The feeling that i get is that the intention was good and audacious, but in execution we were/are not very smart, are very old fashioned and very slow. Like marketing in Asia is something we should have done in 04 or 05 when we were at the peak. The debt payment strategy is very conservative and slow. The clubs we are competing with like Manu, Madrid and Barca have extremley agressive management styles we will loose out if we don't change.
In all the Stadium was a great idea, but it was the bare minimum, there are other avenues to generate revenues where we are lacking. BTW the debt we have now is mostly low interest bonds that mature after 20 years. Which means we cant pay off before 20 years.
The debt (bonds) we have is £177million at 5.142% fixed until 2029,
plus £50 million at 3m libor+0.22 till 2013 and then rising to 3m libor+0.55.
This debt has a charge over our gate receipts. It is not low interest and it is impossible to pay it off early without incurring hefty early exit penalties. Best we can do is acccumulate cash in a deposit account, net these totals argue that our 'net debt' has been reduced. However if you think about it, that bank account isnt going to earn anything like the interest we are obliged to pay out above.
:good:Quote:
Originally Posted by Alan B'stard
Quote:
Originally Posted by Alan B'stard
So basically until our cash deposit account reaches £227mil (for arguments sake) we're stuck.
Its worse than that, jim.Quote:
Originally Posted by LDG
Basically You can only kill off this debt by finding out who AFC sold these bonds too, and tempting them into selling them back to the club.
ie: Even if we have 227mill in the bank, that will be earning crap all interest, which we have to pay tax on too.
we will still be paying out more than that in interest each year.
An aside - I remember reading* that Usmanov has been a busy bastard buying up a lot of these bonds on the open market. He then went to the board and offered to tear them up, if they replaced them with new voting shares instead (a 'debt for equity' swap, if you will).
Obviously this means making room in the boardroom for him, and 'diluting' the stakes of the rest of the shareholders.
The PHW/Fiszman/Kronke axis told him to do one. I infer that they would rather run it for themselves as a moneyspinner than let it turn into a rich man's plaything which bankrolls trophies.
To be honest though, neither prospect corresponds to what we think of as traditional football club. Sadly, that vision seems to be incompatible with the game at the highest level nowadays.
* ref: http://www.telegraph.co.uk/sport/foo...nals-debt.html
A classic demonstration of why all bankers should be burned. I'm serious, round up the cunts and throw them on a bonfire. Greedy, greedy, eternally greedy bastards. Can you imagine how much these stinking money changers are thieving out of the club over the years? And then add that to shareholder payoffs. A payoff for what? Running the club into a ditch? The lion's share of everything generated is sucked out like the club is suspended in a vacuum. The money changers have created their "loan" out of thin air at zero risk and with hyper usury rates of return (as usual) and the shareholders have put fuck all in and are sucking like fucking leeches. And who owns the stadium when the bloated leeches are finally sated? The fans? Nope, some American bloke. So what, exactly, is in it for the fans?Quote:
Originally Posted by Alan B'stard
$amir Na$ri - that's what. Cahsley Cole and his swerving Bentley. Nick, I couldn't score a fucking goal to save my life but thanks for the £52k a week, Bendtner. 8-2 humiliation at Old Trafford?
But look on the bright side, we did get a 29 year old injury victim at the end of his career and the loan of a player nobody else wants. And fine, let's hope they can at least produce some entertainment, at least let's have some of that.
When you look at the bigger picture it makes you wonder where the football fits in any more.
LOL, I forgot the mother of all leeches. That giant sucking thing called government.Quote:
which we have to pay tax on too
:crying:Quote:
Originally Posted by Niall_Quinn