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Swann writes off £11 million

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Knut Anders Fosters Voles
April 22, 2021, 11:04pm
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Quoted from Fillipe Noche


Certainly has. If that was John Fenty offsetting debt write off with a transfer or major assets, he would be getting absolutely crucified


Jane Austen translate bot:

They were within twenty yards of each other, and so abrupt was his appearance, that it was impossible to avoid his sight. Their eyes instantly met, and the cheeks of each were overspread with the deepest blush. He absolutely started, and for a moment seemed immoveable from surprise; but shortly recovering himself, advanced towards the party, and spoke to John, if not in terms of perfect composure, at least of perfect civility.
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aldi_01
April 23, 2021, 5:41am

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Let’s be clear, both are a flipping idiots, Fenty and Swann I mean. Just in different ways.

Swann has effectively handed himself the ground and assets and will no doubt take rent. If Fenty had had a business similar to this one Swann had he’d have done the same.

Either way, nobody would want either of these idiots running your football club...


'the poor and the needy are selfish and greedy'...well done Mozza
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crusty ole pie
April 23, 2021, 7:14am

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I ca see the situation in a few years time. big bust Swann locks glandford park due to unpaid rent Scunthorpe ask to play their home games at blundell park.
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Marinerdan
April 23, 2021, 8:15am

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Just had a look at Scunthorpe’s accounts and the ground and surrounding land was valued at £5.5m in 2001!


UTM
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GollyGTFC
April 23, 2021, 8:25am

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Quoted from Marinerdan
Just had a look at Scunthorpe’s accounts and the ground and surrounding land was valued at £5.5m in 2001!


With physical retail on its @r$e and further retail developments around Glanford Park since 2001 meaning there’s no demand anymore for further retail units in Scunthorpe area I doubt Glanford Park site would sell for anywhere near that amount now.

Value is ultimately what someone will actually pay.
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Swansea_Mariner
April 23, 2021, 8:27am
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How much rent is he taking off the club?
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BobbyCummingsTackle
April 23, 2021, 8:54am
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Quoted from crusty ole pie
I ca see the situation in a few years time. big bust Swann locks glandford park due to unpaid rent Scunthorpe ask to play their home games at blundell park.


Be careful what you wish for......the next part of that sentence is: club reforms, big local backer supports building of new stadium, stadium attracts rich owner and club goes on to the Premier League. Looks at Grimsby like the sh*t on it's shoe.


Miss Scunthorpe. Not a beauty pageant, just sound advice.
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marinerdazza
April 23, 2021, 10:30am
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According to Price of Football, Scunny’s losses were £1.3 million when he took them over in 2013.

In 2019 they were £18.6 million.


Eye watering levels of incompetence.
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GollyGTFC
April 23, 2021, 1:19pm

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Quoted from marinerdazza
According to Price of Football, Scunny’s losses were £1.3 million when he took them over in 2013.

In 2019 they were £18.6 million.


Eye watering levels of incompetence.


Why is that incompetence? He didn't try and run them break-even and lost £17 million. He set the budget and was happy to underwrite those losses.

A lot of people moan about Salford and their spending to get into L2, but the truth is they have spent less than a lot of the "traditional" clubs in L2 have spent just to stand still in the division.
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marinerdazza
April 23, 2021, 1:44pm
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Quoted from GollyGTFC


Why is that incompetence? He didn't try and run them break-even and lost £17 million. He set the budget and was happy to underwrite those losses.

A lot of people moan about Salford and their spending to get into L2, but the truth is they have spent less than a lot of the "traditional" clubs in L2 have spent just to stand still in the division.


I’d say spaffing £18 million up the wall to end up as relegation candidates in League Two is reasonably incompetent.
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