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 Posh Harry |
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Cocktail Drinker  Posts: 1,773
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I may be wrong but looking at Companies House Swan’s share capital was around 8M in addition to his 11m loans. Given he wrote the loans off in exchange for the clubs property assets I’m assuming he wants £8M just for the club with him keeping the property assets personally.
Up to 2020 there was just shy of £20m in accumulated losses, that’s a huge figure to spend and end up bottom of the league with no assets.
In 2020 they also managed to sell the naming rights for Glandford Park for 2m and still lost 952k!
£2 million to change the name to Glumford Park does seem like a tad excessive |
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| MuddyWaters |
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Barley Wine Drinker  Posts: 14,125
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I may be wrong but looking at Companies House Swan’s share capital was around 8M in addition to his 11m loans. Given he wrote the loans off in exchange for the clubs property assets I’m assuming he wants £8M just for the club with him keeping the property assets personally.
Up to 2020 there was just shy of £20m in accumulated losses, that’s a huge figure to spend and end up bottom of the league with no assets.
In 2020 they also managed to sell the naming rights for Glandford Park for 2m and still lost 952k!
They didn't really 'sell' the rights though, did they? Sands Venue is another Swann property over in Blackpool. |
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| MuddyWaters |
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Barley Wine Drinker Posts: 14,125
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Fair enough if I got that wrong. The crux of my point was ultimately Swann very consciously built up debts to the value of 8-10x the natural value of the club, presumably in pursuit of personal financial gain.
That is grossly irresponsible and self serving on a scale few clubs have experienced. Or more pertinently, survived.
When it comes to narcissism (and personal wealth), Swann makes Fenty look like an amateur - which in itself is extremely ironic. |
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| Marinerdan |
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They didn't really 'sell' the rights though, did they? Sands Venue is another Swann property over in Blackpool.
Not at all, effectively they lost at least 3m. |
| UTM |
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| acko338 |
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Whiskey Drinker  Posts: 3,950
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So.... if the worst happened to them, which way would the EFL go...?
Save one team in the bottom 2, or promote 2 automatically?
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| The Yard Dog |
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So.... if the worst happened to them, which way would the EFL go...?
Save one team in the bottom 2, or promote 2 automatically?
It's not just Scuuny, they are numerous other clubs in a right financial mess. |
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| exiledmeggie |
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Lager Top Drinker  Posts: 332
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So.... if the worst happened to them, which way would the EFL go...?
Save one team in the bottom 2, or promote 2 automatically?
The EFL hate the conference and will do anything to protect their own! But the Scunts to be sure are not the only EFL club that are in dire financial state. Although we have had twenty, thirty years, sorry since the Findus stand was built, of no real investment until now, at least today, the club are in good shape. I’d personally be glad when the Scunts and others are expelled from the EFL and they make extra room for us, to return to glory. But I fear, in trepidation that they would close the door, and invite the PremierSh1t u21 teams instead! |
| Living in Exile since 1980, but still have Black and White blood! |
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| Meza |
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Scunny had a really good run of signing and selling on players, particularly strikers. Between 2007 and 2014 they made the best part of £15m profit selling Billy Sharp, Andy Keogh, Martin Paterson, Gary Hooper, Chris Dagnall, Martyn Woolfoord and Sam Winall. They'd sell their best player, and then have the knack of signing another who would go on to replicate that success. They also had Paul Hayes during that period, who went for a pittance on a tribunal.
It can't have been fluke - it was clearly the result of a very effective effective scouting and recruitment policy. Is it a coincidence that something drastically changed shortly after Swann took over in 2013, and they started splashing around money they didn't have on players that weren't all that good?
Their rise to the Championship was entirely sustainable and genuinely earned, as difficult as that was to swallow at the time. Whatever Swann did, it amounted to sticking the club in reverse and then slamming his foot to the floor.
That was Lee Turnbull who was at Bradford. I was a bit jealous tbf that we didn't have something similar. Peterboro use to hoover up the best players fro. The lower divisions I don't think they have done that for a while though. |
| [URL=https://imgur.com/VCxdH2Y][IMG]https://i.imgur.com/VCxdH2Ys.jpg[/IMG][/URL][URL=https://imgur.com/uMRVvRe][IMG]https://i.imgur.com/uMRVvRes.jpg[/IMG][/URL][URL=https://imgur.com/5p7nllT][IMG]https://i.imgur.com/5p7nllTs.jpg[/IMG][/URL][URL=https://imgur.com/46BEw5M][IMG]https://i.imgur.com/46BEw5Ms.jpg[/IMG][/URL][URL=https://imgur.com/06NXnQF][IMG]https://i.imgur.com/06NXnQFs.jpg[/IMG][/URL]
My Grimsby Legends |
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| RonMariner |
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It's not just Scuuny, they are numerous other clubs in a right financial mess.
I am so glad that we now had a well run club with wealthy but sensible owners. We have a level of financial security that many clubs above us can only dream of. |
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| HertsGTFC |
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The EFL hate the conference and will do anything to protect their own!
But the Scunts to be sure are not the only EFL club that are in dire financial state. Although we have had twenty, thirty years, sorry since the Findus stand was built, of no real investment until now, at least today, the club are in good shape.
I’d personally be glad when the Scunts and others are expelled from the EFL and they make extra room for us, to return to glory.
But I fear, in trepidation that they would close the door, and invite the PremierSh1t u21 teams instead!
I don’t think they’d let U21 teams in despite what Pep says but I also think the EFL would do all they can to stop 3 clubs coming up from the NL despite there arguably being 7/8 clubs that could easily make the accent. |
| "Crombie you would have got to that if you weren't such a fat ba%$@rd" - George Kerr, inspiration from the dug out 70s style  |
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Posh Harry
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