CULLUMGATE - THE TRUE STORY

[PurpleCanary 5,557]

I appreciate the comments. I had two main aims - to provide some kind of factual reference for fans, and to provide clues to to what might happen - and why - in the future, since the club is up for sale. Bear in mind, though, what I make clear in my notes, that there are some subsidiary (interesting but subsidiary) aspects of Cullumgate not covered by my account. Not because they were in any way inconvenient for me, but simply because they were unprovable, and I had to restrict myself to what was provable.If the time ever comes when other aspects of Cullumgate become provable, then I''ll happily add them.

[Mello Yello 2,289]

[quote user="PurpleCanary"]I appreciate the comments. I had two main aims - to provide some kind of factual reference for fans, and to provide clues to to what might happen - and why - in the future, since the club is up for sale.

Bear in mind, though, what I make clear in my notes, that there are some subsidiary (interesting but subsidiary) aspects of Cullumgate not covered by my account. Not because they were in any way inconvenient for me, but simply because they were unprovable, and I had to restrict myself to what was provable.

If the time ever comes when other aspects of Cullumgate become provable, then I''ll happily add them.


[/quote]

The Club is up for sale?.....[:|]

Personally, I think you''re a just a charlatan.....With a belt-fed bazooka firing ball-shaped rounds - of bovine botty by-products....

You haven''t, actually told us anything new?

[YankeeCanary 0]

[quote user="Mello Yello"]

[quote user="PurpleCanary"]I appreciate the comments. I had two main aims - to provide some kind of factual reference for fans, and to provide clues to to what might happen - and why - in the future, since the club is up for sale.

Bear in mind, though, what I make clear in my notes, that there are some subsidiary (interesting but subsidiary) aspects of Cullumgate not covered by my account. Not because they were in any way inconvenient for me, but simply because they were unprovable, and I had to restrict myself to what was provable.

If the time ever comes when other aspects of Cullumgate become provable, then I''ll happily add them.


[/quote]

The Club is up for sale?.....[:|]

Personally, I think you''re a just a charlatan.....With a belt-fed bazooka firing ball-shaped rounds - of bovine botty by-products....

You haven''t, actually told us anything new?

[/quote]

I think he was aiming for "true", not "new".

 

[Mello Yello 2,289]

[quote user="YankeeCanary"][quote user="Mello Yello"]

[quote user="PurpleCanary"]I appreciate the comments. I had two main aims - to provide some kind of factual reference for fans, and to provide clues to to what might happen - and why - in the future, since the club is up for sale.

Bear in mind, though, what I make clear in my notes, that there are some subsidiary (interesting but subsidiary) aspects of Cullumgate not covered by my account. Not because they were in any way inconvenient for me, but simply because they were unprovable, and I had to restrict myself to what was provable.

If the time ever comes when other aspects of Cullumgate become provable, then I''ll happily add them.


[/quote]

The Club is up for sale?.....[:|]

Personally, I think you''re a just a charlatan.....With a belt-fed bazooka firing ball-shaped rounds - of bovine botty by-products....

You haven''t, actually told us anything new?

[/quote]

I think he was aiming for "true", not "new". [/quote]

Well, he''ll/she''ll - miss the board - and take out a chunk of plaster....

 

[lucky green trainers 0]

imo the op is just a club pr thing - just in case we go down - to keep the rabble quiet...self preservation???

[Tangible Fixed Assets anyone? 0]

Having read Purple''s piece you would get the impression that the club would need an annual subsidy so anybody making a takeover would have to be prepared for this. However as Delia & MWJ do not have an endless supply of money, at some point the clubs costs (and cashflow) would have to get into line with the clubs revenues (and cash inflows) anyway. Furthermore the club have already cut some overheads (and I would like them to consider more cuts on the overheads  - see below a post I made on another thread) and Doncaster has already signalled a cut in the player budget. Thus the club could be run on a balanced budget if it wanted to.

Moreover the credit crunch and recession may be forcing clubs to look at why a number of them are financing annual losses when whats required is a collective reduction in their cost base and a return to reality.

 

08/04/2009, 4:35 PM
Tangible Fixed Assets anyone? Joined on 03/08/2005 Posts 2,455	Re: Nearly £10m more to run NCFC Plc compared to Preston North End
	Blahblah, what a coincidence I was going to make a post today about how the club have already made some overhead reductions such as Andrew Cullen departing, Leo Blackburn going and the lady from the Catering operations etc. Say 300k then add £250k for say the departure of Peter Grant in the 2007-08 Accounts (yes I know we had to pay off GR. and crew but that probably covered by the sale of Bell for £750k in 2008-2009 but hopefully no further payoff for a while) and hopefully the tax advice costs (£46k in 2007-2008) have ceased (for a while). That makes nearly £600k. from reducing the overheads.  Add say a £2m reduction from the playing budget and NCFC are heading in the right direction regarding the finances. Off the top of my head: the loss was                                                    £2.7m less depreciation (non cash cost)                     £1.7m sub total                                                           £1m cash needed for capital repayment of loans        £1m. Total                                                                 £2m   If NCFC reduce costs by £2.6m (see above) that should leave enough for any shortfall in revenues if season ticket renewals dont quite make 20,000. Hopefully that should free Delia & MWJ. from the need to provide a subsidy.   However there may be scope for further overhead reduction without loss of staff, such as £350k from the travelling, accommodation etc. budget which currently at £800k+ seems to need some explanation!   Once the economy starts to recover there may be scope for further overhead savings, such as Finance costs amongst others.    £350k from savings in the travelling, accommodation budget and a further £350k later, makes £700k that on an annual basis could then be used to boost the transfer budget or be accumulated for later use such as speeding up debt repayment.   BTW., I havent checked but I think you will find that I excluded the EventGuard costs from the comparison against Preston''s cost base. Therefore they are not relevant to the above discussion. -------------------------------------------------------------------------- The above assumes we stay in The Championship. In addition transfer funds for bringing players in can come from the £4m cash that can be squeezed out of the working capital (some of the trade debtors as at 31st May 2008), the near £1m cash (as at the 31st May 2008) and the probable sale of Clingan (some think will be £3m).  £3m - £4m spent on the playing squad this summer should produce a balanced playing squad capable of avoiding relegation battles.

 

[lappinitup 629]

I can''t disagree with any of that Tangy but I am somewhat confused as to why you are suggesting more ''prudence'' whilst most on here would be demanding more ''ambition''. It''s clear that ALL clubs need to show the sort of restraint you suggest but we both know that there will always be clubs out there prepared to throw money they don''t have, in the hope of reaching the promised land. In my view, the people who take these risks and then walk away when it all goes tits up, should be made personally responsible.

[shefcanary 2,393]

Even Lord Mawhinney has given up the ghost of introducing a salary cap, without even the hint of a voluntary code of reducing players wages.  What lilly livered twats they are.  Those in control have thus deemed it acceptable that clubs like Southampton can continue to rack up huge debts that ultimately the ordinary punter will have to bear.  I think that is the unquestionable "truth" that ended both Cullum''s interest and that of the Turner''s as well. 

The only way forward -see the call to arms in my signature.  I still think if that happens Norwich will be better placed than many other clubs to take advantage.  Let''s face it - Roeder was sh*t trying to work with agents, but it worries me that Gunny must have played a part in some of those deals.  I''ve just finished David Peace''s "That Damned United" and even if a work of fiction, the notion of the Manager raiding the admissions safe for a "brown paper package" to seal a deal rings a degree of truth, no matter what level of accounting clarity is applied. 

[As my login causes problems [ :o) ] 0]

I think the thing that this thread and the corresponding one on the Official site demonstrate is that to try and trivialise the Peter Cullum saga as Purplecanary has done is to ignore a whole host of financial issues in football.  Unfortunately Purplecanary has only the one drum to beat on Peter Cullum and seems to see the whole saga as some defence of the current regime.

The two are of course independent and however many words are regurgitated from different articles and interviews it doesn''t alter the fact that any negotiations were in secret, and that the initial reluctance of people at the club to talk to him stalled the deal at a time when it would have suited both parties more.

We do know that the current regime are stating that they are looking for investment but also that any investment from Peter Cullum is not available on their terms.

These facts are the same that we knew six months ago, and the overall state of British and indeed world football is not much different to then either as stated by Neil Doncaster in his more succint and more revealing article.

Purplecanary unfortunately refuses to discuss any side issues or to elabourate on any points, instead quoting slurs on other posters and an unhealthy interest in what background they may have to write the story.

You may have noted that purplecanary has only posted on threads to do with the Peter Cullum saga and this in 18 months of forum membership.  They are a regular lurker on the official board (and on here one would assume) so it suggests a professional interest that has been kept from us.  The limited snippets of information he/she has revealed state that they live in the South of France, and yet are a season ticketholder.  Maybe the first explains the lack of football knowledge but the second suggests otherwise, confused? I am.

However do I really care?  No.  However I would like to know whether there are new truths that we may be told that actually improves our knowledge of what happened.