Goodie Conway 2 wrote:

I'm none the wiser.

 
Ditto

It's worth saying tbat the board were clear that relegation would require them to seek external finance - ie we would be unable to pay the bills without a loan.

There were caveats regarding possible monies due if Robertson or Gauld were transferred and they were confident enough regarding the likelihood of external financing to sign off the accounts on a going concern basis.

Not great but not fucked in the sense I would use the word.

Scarpia, debts have to be paid, bills have to be paid, our answer is to scramble around to try and borrow more money off someone. All this with much less money coming in. Counting on Andy Robertson money is a scary way to conduct business. Not hard to work out the rest. Think you are underestimating how serious our situation is.?

Tangy wrote:

a wee message for those who say we are screwed.....

please explain how EXACTLY we are screwed. If the club is in immediate danger and/or the chairman is taking money out the club, can you tell me how, where, why etc and I will 100% get on board with you guys. I don't want to be the kind of person whos head is in the sand, totally oblivious to the impending destruction of the club.....

However, people saying 'FACT' does not convince me, neither does insults of the chairman, his family, southern or anybody else. I'm guessing many of you are in the feddy/have insider knowledge of the situation. I'm also guessing you have studied the latest set of accounts, so if you could put down in black and white what has went where and how that contributes to our downfall, that would be great.

Really want to be convinced....

Exactly how I feel
 

HeggyHandshake wrote:

Scarpia, debts have to be paid, bills have to be paid, our answer is to scramble around to try and borrow more money off someone. All this with much less money coming in. Counting on Andy Robertson money is a scary way to conduct business. Not hard to work out the rest. Think you are underestimating how serious our situation is.?

 
Hopefully not HH but as I've said above its not great.

Tbh I used to worry more when the debt was £7m plus.

A couple of things worth bearing in mind -

If Thompson wants out with a pay-off for his shares then an insolvency event is the last thing he needs.

If Thomson is genuinely committed to the club then an insolvency event is the last thing he'd want.

Moo

Arab_plumber wrote:

Why have the family taken all their money out before paying back the soft loans......................

A fair question to which none of us know the answer

Could be they're strapped for cash of course....

If your thinking that they've pulled out because we're going tits up then I'd be cautious - they got 600k back from their loans - club going bust could potentially leave their shares worthless or at least worth a lot less - hard to see the game plan there.

I'm not being complacent and the odd business with Justine suggests all is not well but an impending financial meltdown has been mooted for over a year without materialising.

If I had to stick my neck out I'd say that insolvency is unlikely but there is a real danger that we get stuck in the 'championship' cutting costs year in year out as income diminishes.

Get stuck there long enough....
 

The way the club is losing money is scandalous, if there was success on the park because of this then you could argue that it was worth it, but with the abject failure on the park being mainly caused by the attempts to pull money in and the fact we're still losing thousands a week then that is quite simply terrible management of the business.

Thank ST for giving up his wage, no chance.  He should of sacked himself as that's what anyone else would of got for making such a cunt of things.

The operating losses for this year are approx  double the numbers just released.  Now that's scary.

There are absolutely NO new players coming in next season. Nada, zilch, none. No transfer fees, not even free agents. The club can't even afford the ones that will be left after the out of contract players have left. Expect this team in the Championship next season:

Zwick

Dillon
Donaldson
Durnan
Dixon

Spittal
Telfer
Paton
Fraser

Anier
Murray (although last Saturday he was pissed off and left Hampden to get the train when he should've been on the team bus and told a mate of my old boy that he was 'fucking pissed off' at United. Can't see Mixu taking that well at all and I doubt we'll see him for Utd this season at least).

That leaves: Muirhead, Bodul Szromnik.

We will be relying on the younger players in the development squad a lot more as well so expect to see Souttar, Suker, Robson, Brad Smith, Coote, Johnson and Murrell in and around the first team. The club are looking at teams like Hamilton who the last time we played had 8 players in their starting 11 who came through their academy and seeing this as the only sustainable model we can follow. Makes you wonder why Stevie Campbell was punted really?

Also heard from some of the 6th year laddies from work who know Ally Coote that he wants away from Utd and apparently so do most of the development squad due to Mixu.

Grim times. The club and fans either need to hope a new benefactor takes over who will bankroll a more lucrative squad like we have been used to over the last 10 years without incurring big losses at the club OR, we need to accept a few barren years maybe in the Championship whilst the club restructures it's whole operation, including the team into one that doesn't induce big losses. Are fans willing to be patient if this happens? When Alex Rae was manager of the Fun and the guy Dave MacKinnon was Chief Exec about 8 years ago they managed to get to a break even situation with the quality of player reflecting the lower wages being paid and they couldn't get out of the 'Championship'. The fans led by Fat Harry hounded both out and went chasing the 'dream' and dropped their trousers for Melville and 'Man City of the North' proclamations. We all know what happened next.

People don't want Thompson, but they expect Thompson to put his hand in his pocket to pay off Mixu then bankroll a squad to get us out of the Championship next season. The two things just don't marry up. The only solution is for him to sell up or, for the fans to accept the club are in for big changes and some lean years until things are radically reorganised.

At the end of the day, taking admin out of the equation, why did Hearts get out of the Championship last season? Decent manager yes but, they sold the ground out for every home game that season. If we did that we'd get out of that league no bother.

Personally, I hope Thompson goes. He's ripped the club off, made a chunt of too many important decisions and is damaged goods in the fans eyes. However,  I can't see it happening. There is no white knight on the horizon.

Last edited by lifesanocean (23/4/2016 8:55 am)

Yep. Both clubs have things in common, crap owners, split support, no clear strategy in teams of team building, too many overheads, etc.

HeggyHandshake wrote:

Beharder wrote:

I never suggested that we were in a good financial situation, however which of our competitors next year are awash with cash which would mean we cant be competitive next year

 

I doubt any of them are awash with cash, I also doubt any of them will be paying players 2k a week, some to sit in the Apex drinking cocktails.

None of them have relegation clauses. Even Mixu doesn't have one. We are trying to borrow more money just to pay their wages.

Andy Robertson is the potential wee Dutch guy filling the holes in the dyke, if it doesn't burst first.

None of them have relegation clauses?
That's a huge factor against progression. Hope negotiations are prepared for squashing these wages.
Cannae bank on any transfer hopes. Andy Robertson will one day go  for big money but it's not something to rely on.
We will go down and only the fans can help do it with dignity. 
Most will BE fans in any division for as long as it takes but the way the club is run has to change. Fed up checking the lottery for a solution though.



 

RAM1971 wrote:

I personally don't feel the Club will make any recovery or progress as long as ST is Chairman. The last 15+ months have killed off any trust or confidence I had in the man. It is so bad that I am seriously wondering if it is worth continuing with United after all these years (since 69/70). 

 
Sooner he fucks off the better.
Some leaders or most go a bit stale after a while. This one has really fkd up in every way you can too loose faith in as a chairman.
  His gamble eventually failed on the 5th jackpot gamble in a row when he'd already scooped 4 in a row.
Could have escaped with credit but taking back the debt 1st shout and creaming over OZ at the same time leaves me thinking he he only here as a result of bad fate all round.
Ken some told us he is to be disliked a long time ago but it's hard to take bad opinion on the club you love and believe you should on the trust of online strangers.

Have seen people online thinking we will bounce straight back up..  Imo im going for 5 year atleast down.

We are going to ve  counting on more or less the whole team to leave for free or take a massive pay cut.. Its fucking frightening what is happened, happening and about to happen.