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The debt is a red herring


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Im sick of seeing our debt used as a reason for us being poo poo.

Its not.

We are told that our debt costs us around £0.5million a season now that its been restructured. Take that off our turnover and it puts us way in front of around 50% of the clubs in the division.

We need to make our money work much better for us on the pitch next season - AND STOP USING THE DEBT AS AN EXCUSE. Cos its not anymore.

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Guest totemowl

If the financial crisis has taught us something its that £25,000,000 is nothing in the grand scheme of things.

Then FFS hand it over to ME. You know it makes sense.

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Yet when we desperately needed a new influx of a few loan players prior to the closing of the T/W we were told there was no funds available.

Out of interest, exactly what part of Nigel's post stated that the above was not in fact the case or that any other outcome was a possibility?

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I think there's a combination of factors working against us.

1 - what money we have had to spend on fees, has been spent badly. How much did we pay for Jeffers, Potter, Clarke, Esajas, Johnson? From memory I seem to think about £1.8 - £2M? IMO only Johnson (so far) has been a good buy.

2 - other clubs are willing and able to spend money they don't have, running up debts, to try and climb the table. If clubs only spent what they earned then I guess even with our debt we could be one of the big spenders.

3 - We've not sold players at the right time to generate cash, which other teams have done such as Preston, Cardiff and dare I say Sheff Utd.

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Guest totemowl

Yet when we desperately needed a new influx of a few loan players prior to the closing of the T/W we were told there was no funds available.

Who were the mystery loan players who would

improve the squad?

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Guest Anglofile

IMHO, Owls fans should endeavour to do business with Coop as they've been a flexible PARTNER with the club and shouldn't be viewed as the bad guy. Can't say more but just my opinion.

Joe

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IMHO, Owls fans should endeavour to do business with Coop as they've been a flexible PARTNER with the club and shouldn't be viewed as the bad guy. Can't say more but just my opinion.

Joe

Since when have the Co-Op been seen as the bad guy!?

We have been appreciative for their co-operation for a number of years.

Stop talking absolute gonads please.

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I think there's a combination of factors working against us.

1 - what money we have had to spend on fees, has been spent badly. How much did we pay for Jeffers, Potter, Clarke, Esajas, Johnson? From memory I seem to think about £1.8 - £2M? IMO only Johnson (so far) has been a good buy.

2 - other clubs are willing and able to spend money they don't have, running up debts, to try and climb the table. If clubs only spent what they earned then I guess even with our debt we could be one of the big spenders.

3 - We've not sold players at the right time to generate cash, which other teams have done such as Preston, Cardiff and dare I say Sheff Utd.

I'd also add that the increased transfer budget, which we were promised and ultimately delivered by the board at SWFC, was spent badly too.

Large % went on tying up long term contracts of players that had become 'key' members of the side, who have totally underperformed this term (Spurr, Tudgay), and the remainder went on 2 or 3 'marque' signings (Purse, Miller) that haven't had anything like the impact we hoped for.

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I'd also add that the increased transfer budget, which we were promised and ultimately delivered by the board at SWFC, was spent badly too.

Large % went on tying up long term contracts of players that had become 'key' members of the side, who have totally underperformed this term (Spurr, Tudgay), and the remainder went on 2 or 3 'marque' signings (Purse, Miller) that haven't had anything like the impact we hoped for.

I'd be interested to know just how much more Spurr and Tudgay are earning. To be fair to Spurr, for most of this season he wasn't given much protection and many teams simply pasted us but I've rarely seen Spurr not put a shift in. Tudgay on the other hand... he didn't even turn up today.

I think Miller and Purse could be quality for us next season - if we do get relegated. If we stay up, then I still think Miller could be a decent player.

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Since when have the Co-Op been seen as the bad guy!?

We have been appreciative for their co-operation for a number of years.

Stop talking absolute gonads please.

I'd agree with this.

I don't think i've ever heard anybody say anything bad about the CO-OP.

It's not their fault we got ourself into so much debt.

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Guest Deleted member

Yes Im not sure where anybody gets the idea that we are (or ever would) criticise the Co Op.

Theyve put their money where their mouth is when its mattered for a good few years now.

If only we could encourage some Americans to do the same....

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Guest mjk81

As far as I understand it the bank (co op) wont allow us (Wednesday) to spend any money we dont have so we cant buy players with money we dont have in the hope it will work out in the long run. But Lee Strafford has said that money that comes to the club (season tickets/player sales) will be spent on the team (players & wages) from now rather than being used to reduce the debt as was past policy under the previous chairman.

I think Sheffield Wednesday PLCs past plan was to chip away at the debt and hope it would make the club more appealing to a buyer, While Lee's aim is to have a serviced debt (keeping the co op happy)

and improve the squad which will rise attendances (revenue) and make us more appealing to a buyer/investor. but he's had several things against him this season:-

(1) The clubs brand name had been damaged from the running of the club since 1999

(2) Some fans had been marginalized buy the past chairman (legal action on fans etc)

(3) He had inherited a weak squad

(4) Unable to offload players on higher wages (jeffers etc)

(5) We had a poor manager who we would have had to pay up had he not got employment straight away (delayed decision maybe)

I fell now we have a good Chairman with a plan to invest our money into the club, a good manager, and a debt we can service till investment. Some clubs are going to have non of these things in a few years (Derby,Forrest,Cardiff,Watford,Doncaster etc)

Edited by mjk81
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Guest wincobankowl

As far as I understand it the bank (co op) wont allow us (Wednesday) to spend any money we dont have so we cant buy players with money we dont have in the hope it will work out in the long run. But Lee Strafford has said that money that comes to the club (season tickets/player sales) will be spent on the team (players & wages) from now rather than being used to reduce the debt as was past policy under the previous chairman.

I think Sheffield Wednesday PLCs past plan was to chip away at the debt and hope it would make the club more appealing to a buyer, While Lee's aim is to have a serviced debt (keeping the co op happy)

and improve the squad which will rise attendances (revenue) and make us more appealing to a buyer/investor. but he's had several things against him this season:-

(1) The clubs brand name had been damaged from the running of the club since 1999

(2) Some fans had been marginalized buy the past chairman (legal action on fans etc)

(3) He had inherited a weak squad

(4) Unable to offload players on higher wages (jeffers etc)

(5) We had a poor manager who we would have had to pay up had he not got employment straight away (delayed decision maybe)

I fell now we have a good Chairman with a plan to invest our money into the club, a good manager, and a debt we can service till investment. Some clubs are going to have non of these things in a few years (Derby,Forrest,Cardiff,Watford,Doncaster etc)

Bang on.

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Guest wincobankowl

Other clubs are still paying wages they cannot afford.

There are many, many Coke clubs running up large debts with large wage bills

Preston £11m, Bristol £10m as prime examples.

I believe our wage bill is in the region of £6m??

I would hazard a guess that we are in the bottom 5 of playing budgets.

that is because the debt has strangled our credit facilities and we have no benefactor pumping millions in like Blackpool.

we can only spend what we can afford. Other clubs are still living well beyond their means.

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