Absent Friend

Badger, I am (or was) a company Accountant actually, but I''m not totally sure myself, and I''ve definitely forgotten more law in this sort of area than I remember! You have to treat all shareholders within the same class the same way - but these aren''t shares. I would expect some provision that says everyone must be treated the same so if the majority were willing to defer - a collective agreement effectively - then I think it would be binding. It no doubt depends on the small print - not read it yet. I did have some preference shares in an ex-employer about 20 years ago (not a PLC) where there was a request to delay the repayment schedule, but I can''t remember exactly where we would have stood had we individually refused. Fortunately we got paid in the end.

The obvious risk, as many have said, is that if the club went into receivership during the next 5 years we would almost certainly lose our money. In practice even if we headed back to League One I don''t think this is very likely given the relative lack of debt on the balance sheet. There is another, more likely, scenario. If at the end of the 5 years things aren''t going as well as hoped, i.e. no promotion, they might seek to defer repayment (with interest continuing to accrue of course). That would need h the agreement of those who had invested, As the Directors are likely to be the biggest investors 1) such approval would be easy enough to achieve but 2) they also have the biggest incentive to avoid this happening. In practice the gamble the Board are taking is on getting us promoted to the PL within 5 years. Do that and repaying the bond and the extra interest becomes petty cash. Obviously the Board must genuinely believe they can achieve promotion in that time. So do I and shall put a small amount in. If you think they can, and have some available funds, then invest. Unless you regularly back 2/1 winners you''re unlikely to get a better return in the current climate. Obviously if you think we''re stuck where we are, or worse, for years to come, this probably isn''t for you.

"and I remember them handing over £30,000 to pay for a player a few seasons later" Gerry Howshall from WBA if I remember correctly. Don''t think it worked out too well for him (injuries?). Think he was a wing-half in 1960s parlance.

I thought Godfrey looked a lot more up for it than Thompson last night, who on the first goal watched the left winger from a few yards away without every pressurising him - much in the way Leroy Fer used to. It was much too easy for him to measure his cross. I suspect that''s why the change was made. Who cares if Godfrey arrived as a midfielder? Maybe York City never found his best position, or perhaps as he was so young they just didn''t want to risk him in the back line. He certainly looks as though he can see what''s happening around him and react to it.

If the EU were about co-operation, which it was originally, I''d vote to stay in. It''s not these days, it''s about compulsion. If I thought that by staying in we had any chance of turning the tide away from compulsion and back towards co-operation, I''d vote to stay in. We don''t, so I won''t. The EU now is an unnecessary and expensive level of government, utterly remote from most of the people it is supposed to serve. The idea that 25 countries of different cultures, political systems and resources should all be compelled to follow the same laws is absolute nonsense, not to say unworkable. It''s not that anything and everything that comes out of the EU is, by definition, bad. I''ve no doubt some good things have come out of it. The trouble is so have some bad ones. If one country has a bright idea that others like, then fine, adopt it if you want - not if you don''t. Opposition to the EU is nothing to do with migrants, or hating the French/Germans/Italians (except immediately after penalty shoot outs) and certainly not even remotely racism of any kind. There''s no doubt a NO vote would cause serious ructions for a while, and in the years that immediately follow there would almost definitely be some problems in the economy as we readjust. But we aren''t voting for the short term. We''re looking at what happens for a very long time to come.

Although transfer fees make the headlines the biggest issue is really the salary budget. Until we find a way of offering appropriate salaries to better quality players - without hacking off the guys we already have - we will struggle to improve the squad to the level of mid-Premiership rather than one permanently fighting relegation.

"Norwich going quietly about their business whilst Bruce sees fit to tell his local rag that we have made three bids and air his dirty linen in public.If Brady becomes unsettled by all this and asks to leave only one person is to blame." Sounds to me as though Brady has already indicated he wants to stay in the Premiership, and any talk of a new deal is just Hull propaganda aimed at getting the price up. We are the only party interested apparently. I wonder why? Can''t blame Bruce for desperately trying to start an auction if he''s unable to persuade the lad to stay, but I doubt if he''ll succeed. If we are the only potential buyer in the market then the market price is what we are prepared to pay.

I think Baths Hotel not far from the station has Sky, and a good reputation for real ale. Not been in but someone I know goes there from time to time. Look them up and give them a call to see if they are showing it.

"I think Declan has a better record at saving penalties than John Ruddy does." Yes, but there won''t be a penalty shoot out on Saturday, nor even in the following game. And if we are drawing the play-off second leg or indeed the final late on Neil will use all his subs trying to win it. And in any case Declan hasn''t had to face most of his penalties at first-team level, Ruddy has. The more pertinent question re. Declan is what happens next season? If Ruddy goes will Neil consider him a good enough replacement? If Ruddy stays Rudd will surely need to move on.

The way things are set I will be surprised if Watford and Bournemouth drop any more points. That means two from us, Middlesborough and Derby will still be scrapping it out next year, and whoever it is will almost certainly be in the mix. If the unthinkable happened in the playoffs it would be all three. There''s normally one relegated club stays in contention but rarely all 3. But it''s not just about which players will leave, it''s also about who can retain a good manager. We will, Derby may not, so they might drop out of the equation. Boro? Don''t know. If by any chance Bournemouth do falter Howe will surely move upwards. In reality it''s easier to replace players with confidence than managers, but really the managerial appointments have the most effect. It''s surprising how few Boards get it right twice in a row.

During one of the match day live text forums on here shortly after Neil was appointed - in fact it may well have been the Brentford one - the host responded to discussion about whether we should have gone for Warburton by saying there was a rumour that he''d been approached, but wasn''t interested. (I think it was Michael Bailey hosting, but not certain). If that''s true Warburton may be regretting it now.

We don''t have a very good record of bringing youth players into our first team at Championship or Premiership level. Bellamy, Keith O''Neill, Kenton, Shackell, Daryl Russell, Rob Green all became first team regulars, and as far as I can remember none of them went out on loan to get experience - or if they did it wasn''t for very long. That''s not very many over the last 15 or so years. Maybe I''ve forgotten a few. But what it does show is that the very few that really are good enough do get the chance, with us, not in league 1 or 2. Of the current crop Josh Murphy is the only one to have even come close to earning a first team spot - which is presumably why, unlike McGehhan, Toffolo, his twin brother, Loza, and Morris he has not gone out on loan at all. I suspect that the reason McGrandles and Thompson are seen as better options is because they had what it takes to force their way into first team football very young, even if it is at a slightly lower level. Over the years a lot of other players have come through the academy, then gone out on loan for the experience. Some have done a reasonable job for the team that borrowed them - none that I can recall have really shone and looked genuine class acts at a lower level. If they are to make it with us they should have done that. Most have then left on free transfers. And with one exception - Chris Martin - most of them have disappeared into the lower leagues. Adyemi might yet be a second exception but I''m not convinced he will ever be better than a lower Championship or decent League One player. Korey Smith should be in the Championship next year but again I suspect that''s the best he''ll manage. If we have got one thing wrong it may be that we should have tried to get nominal fees with a percentage of next sale clause for some of them. As fans we love players coming through the ranks, trouble is we wear rose-tinted specs. Remember when people used to say get rid of Russell Martin, Michael Spillane is coming through and better? Ryan Jarvis, England u-21s regular, has just joined Aldershot on loan. Toffolo seems the best of the current crop. McGeehan may be easier to spot on the Football League Show, but young Harry has at least got a permanent starting slot in a high-flying league one side, and a couple of assists to his name I think. In the end it seems the 15 year olds we sign are just not in the same class as the Walcotts, Bales, Oxlade-Chamberlains and Clynes of this world.

Every year the pundits look at the 3 teams relegated from the Premiership and pronounce them favourites to go back. But it is relatively rare for a club to bounce back with much the same squad that relegated them - possibly West Ham a year or so ago is the most recent, don''t think they made many changes. And the fans of the relegated clubs lap it up too. After all we have a squad of "premiership players" is the cry. "What about the parachute money?" Etc. etc. Except that we don''t have a Premiership squad - we have a squad of players who have set foot in the Premiership - and failed to stay there. Not the same thing at all. We''ve added the likes of O''Neil and Camern Jerome to that group. What we have is a the nucleus of a squad that didn''t fight hard enough to stay in the Premiership and doesn''t seem particularly willing to fight to get back there. Ruddy doesn''t seem over-bothered about not being in the England group any more, Lafferty, Tettey, Olsson and the Scots lads are unlikely to lose their international places because their countries don''t have sufficient strength in depth. Then we have Grabban who seems to be Cureton mark two i.e. does well as the big fish in a small pond, but freezes when he''s asked to hack it in a larger club with greater expectations. The two possible exceptions seem to be Ofoe - who can''t get fit - and Redmond, who is desperate to retain his England U21 place in the forthcoming summer tournament knowing mind that some of the eligible first team players may be picked (though not Sterling apparently). Redmond basically has something tangible to aim for. So what confuses me is why anyone thinks the manager, any manager, is going to change the mindset of most of the present squad overnight, and without some radical surgery. Alex Neil knows he has a lot of work to do, he knows he needs hungrier players. Time is not on his side.

"Our players are overrated unfortunately" .... "We probably do have the best squad in the division " Thank you for conclusive proof of how wise your first statement was. It''s swallow by the way, not swan. And no, one swallow, does not make a summer and one bad performance doesn''t wipe out 2 good ones either.

It''s quite right - he''s won one game, can''t draw any real conclusions from it, mustn''t get carried away. Funny thing is though that if he happens to lose the next one it will be conclusive evidence for some that we''ve made a terrible mistake, he can''t cope with the big egos, players will never respect him, should have gone for a big name with years of experience, McNally hasn''t a clue, blah blah blah....