07-11-2017, 18:20
the real problem is with expectations
They are still behaving like the old club, they are not and its as simple as that.
5 years ago they should have started building from the bottom.
Youth system and scouting first, then step by step incremental improvement.
Because they wanted to be "billy big baws" they squandered the chance to unload 180 million of debt and start from afresh
Their cash burn rate is almost as bad as old co.
They started with 5 mill in the bank, raised 18 million after expenses in a share issue and are now 15m in debt to the share holders with 7 million of debt owed to football clubs as after accounts debts. And another 7 million extra needed over 18 months just to keep the lights on.
So after 5 years on top of all their revenue and ticket sales they have burned through 44m of extra cash and astounding 9m ish per year, with more required.
They are still behaving like the old club, they are not and its as simple as that.
5 years ago they should have started building from the bottom.
Youth system and scouting first, then step by step incremental improvement.
Because they wanted to be "billy big baws" they squandered the chance to unload 180 million of debt and start from afresh
Their cash burn rate is almost as bad as old co.
They started with 5 mill in the bank, raised 18 million after expenses in a share issue and are now 15m in debt to the share holders with 7 million of debt owed to football clubs as after accounts debts. And another 7 million extra needed over 18 months just to keep the lights on.
So after 5 years on top of all their revenue and ticket sales they have burned through 44m of extra cash and astounding 9m ish per year, with more required.