Books Balanced

[Carrow89 0]

" Er...and I think you should go and support Chelsea, sussexycanary baby; a team more akin with your aspirations!!? "

Perhaps get in a couple more cushions so that the old armchair isn''t too uncomfortable either.

[rich 0]

death of canaries, nailed it. I agree the football, the competive nature, the friendliness is better here, but as you say anyside whose any wants to be in the premier or there''s no point playing.

[Sir Quinny 0]

[quote user="T"]

I am disappointed we haven''t boosted the squad as I feel our first team is good enough to get promoted but our squad isn''t unless we get lucky with injuries. However, Rainbow is correct. The income is being spent on wages and debt service costs, and also runing costs and infrastucture capex. The board of directors have a fudiciary duty to ensure that they can meet their obligation i.e. ensure there is suffecient funds to meet existing contractual obligations and service the debt before they can enter into new contracts i.e. buy new players. The debt is also likely to have covenants which restict the money that the club can spend. It would be interesting to see a full set of financial statements with detailed p&L, balance sheet, cash flow and notes to see where the money is going and compare them with other clubs then an assessment of the Boards "prudence with ambition" could be made on facts rather than emotional speculation. Normally you would want to see that the debt is no more than say four times the recurring EBITDA and there was at least two times projected interest cover. Is a detailed set of accounts published as I can''t find any financial statements on the net. Deloitte and Touche used to provide an excellent financial analysis of football clubs but I can not find that either. Ultimately the club and the directors have contractual and legal obligations. In reality I suspect that like most clubs they are already spending as much as they can possibly afford. Asking the directors to spend money the club hasn''t got is asking the directors to break the law. I don''t mind criticising the board based on facts, and I wish some posters would look that word up in a dictionary, but it is harsh to criticize the board based on supposition.  

[/quote]

T I have read and very much appreciate you post - nice to see someone who knows what they are talking about on a finnacial basis making comment.  I agree totally it is quite ridiculos that we make a finacial suppositon about the spending ability of the club and the transfer activity without reviewing say yesterdays Balance sheet to know our true postion.

In all honesty I am not too disapointed in yesterdays activites (though I am very sad to see Leon has gone) - I belive under the new reigiem that other players will be following in the emerging footsteps of Colin, Ethuth and Robinson.  I feel that Jarvis and WLY have the ability to be that second striker if needed and in all honesty the right players were not there last night - I would prefer the Huckebry situation when he jpined on loan and then signed rather than an expensive unproven 18 year old

[Dicky 0]

[quote user="sussexcanary"]

i think you should go and watch Thetford Town a teaam more akin with your aspirations.

 

[/quote]

I think you should actually go and see Norwich play occassionally....

[Thirsty Lizard 3,155]

Death of Canaries

Had another look at my post last night and I agree that my criticism of you was a bit OTT. Apologies for that. Still, you had a good pop back so fairs fair and no hard feelings from me.

Apology given, I do however stand by the point I was making that it is unrealistic to compare how Norwich and Wigan operate in the transfer market.

As for your questions to me: I can assure you that I know loads about NCFC. So much so that many people who know me think I''m a bit sad to know about the club in such detail.

As for acknowledging that our transfer policy is a joke I''m afraid there''s no way I can do that. Any transfer policy that brings players like Hux, Ashton, Earnie, Safri, Croft, Francis, Gallacher etc into the club is alright by me. I know that not all Worthy''s signings have been a success but that goes for Fergie, Wenger, Mourinho etc too. Ideally I would have liked to have seen a signing or two before last night''s deadline, but as I''ve posted elsewhere, we''ve been extremely successful in recent times when we''ve signed QUALITY loan players and I can see no reason why we shouldn''t be able to do so again.

[Making Plans 936]

[quote user="blahblahblah"]We have money, we just aren''t blowing it until we find players that will improve the first team.  [/quote]

And when do you think it will be the right time to "blow it" will be - next season, 2010, 2015. 

If we''ve got it, it should have been spent, especially when you''ve only got one striker.

We have made an encouraging start to the season so the last 3 weeks would have been the right time to capitalise on this and cement our position as possible promotion contenders.

Instead, we sit back and do nothing while everyone else is strengthening their squads.

And, are you seriously saying that, during the last 4 months, there has been no one who was available, and affordable, that would have not improved our squad ?