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the problem they have is they don’t get the income from the SLP/TV rights that we have had, and that is why they in dire straights.
It seems to me “the problem” they have has got nothing to do with income but everything to do with living beyond their means, which is something Wigan Athletic, Whelan if you like, has been careful to avoid.[/quote]
Its everything to do with income, as I said 250 million plus from the premier league helps.
Imagine how we would have competed with the clubs that get massive income via gate and sponsorship without the premier league income, that is what Hearts and all other Scots clubs have to do to compete with Celtic, even Rangers could not manage it on 20k less gates per week than Celtic.
Its no coincidence that all the medium/small clubs in the Spanish and Italian leagues are on their arses.[/quote]
But the Scottish clubs don’t have to try and compete with Celtic, nor do the Spanish clubs have to compete with Barca or Real. Those clubs run away with it season after season.
The smaller/medium sized clubd merely need to compete with the clubs around them. So if one starts to spend irresponsibly, they all do it? It’s just poor management.
sorry to upset the we love whelan ra ra ra bum lickers brigade
but i too thank whelan for saving our club and helping us out of the dark times of kenyon and co
but thats as far has my hypocrisy goes ;)the problem they have is they don’t get the income from the SLP/TV rights that we have had, and that is why they in dire straights.
It seems to me “the problem” they have has got nothing to do with income but everything to do with living beyond their means, which is something Wigan Athletic, Whelan if you like, has been careful to avoid.[/quote]
Its everything to do with income, as I said 250 million plus from the premier league helps.
Imagine how we would have competed with the clubs that get massive income via gate and sponsorship without the premier league income, that is what Hearts and all other Scots clubs have to do to compete with Celtic, even Rangers could not manage it on 20k less gates per week than Celtic.
Its no coincidence that all the medium/small clubs in the Spanish and Italian leagues are on their arses.[/quote]
But the Scottish clubs don’t have to try and compete with Celtic, nor do the Spanish clubs have to compete with Barca or Real. Those clubs run away with it season after season.
The smaller/medium sized clubd merely need to compete with the clubs around them. So if one starts to spend irresponsibly, they all do it? It’s just poor management.[/quote]
Lets nip this prudent spending crap in the bud,
David Whelan has turned 50-60 millon quids worth of losses/debt into shares, last year is the first time in recent history that WAFC LTD. has broken even, if it had been a commercial enterprise it would have been liquidated and wound up years ago.
Nobody on this planet who has a single brains cell would deny that Whelan has been instumental in our growth, but to say it is because of prudent spending is laughable.
Lets nip this prudent spending crap in the bud,David Whelan has turned 50-60 millon quids worth of losses/debt into shares, last year is the first time in recent history that WAFC LTD. has broken even, if it had been a commercial enterprise it would have been liquidated and wound up years ago.
Nobody on this planet who has a single brains cell would deny that Whelan has been instumental in our growth, but to say it is because of prudent spending is laughable.
Yes, but it’s OK to spend that money if you know you are prepared to not see it again. That is what Whelan has done by turning his debt into equity. Other owners/benefactors have not done that and that is why they are in the state they are. Living beyond their means, which Whelan has always ensured this club wouldn’t do. And, as you point out, last seaosn we actually turned a profit on the year. Not many clubs do that.
I’m sorry LMB but I don’t really understand your point.
The debt that DW has converted to equity is debt to himself. He was owed whatever number of millions that he has lent/invested over the years, but has converted that to equity rather than “money owing”. So he now has whatever number of millions of pounds of equity in the club. If the club lose money then the value of that equity goes down, which will be his loss. If it had stayed as a “cash debt” to him, then that debt would still have had to be paid in full by the club.
He has effectively written off his debt to the club, with I think a very reasonable rider that if times get good then he has a share in that. Sound business for him if we do well, and good business for us either way.
I’m sorry LMB but I don’t really understand your point.The debt that DW has converted to equity is debt to himself. He was owed whatever number of millions that he has lent/invested over the years, but has converted that to equity rather than “money owing”. So he now has whatever number of millions of pounds of equity in the club. If the club lose money then the value of that equity goes down, which will be his loss. If it had stayed as a “cash debt” to him, then that debt would still have had to be paid in full by the club.
He has effectively written off his debt to the club, with I think a very reasonable rider that if times get good then he has a share in that. Sound business for him if we do well, and good business for us either way.
My point exactly
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