BlyBlyBabes 0 Posted March 10, 2010 From today''s Pink''un:Matters on the pitch have just about managed to keep the financial issue in the background, with City currently wading through the Deloitte findings on new investment.“We are doing all we can, as we always have done,” said Delia. “It is tough times for football. There isn''t any football club that isn''t finding it difficult, not even right up there at the top of the Premiership, but it is a difficult business and we know it is a difficult business and once you put your hand to the plough you just get on with it.“If we do everything right and proper, as we always have done, yes, I think anything can happen. Watch this space.” (Delia)OTBC Share this post Link to post Share on other sites
shefcanary 2,383 Posted March 10, 2010 Wading through the back of a fag packet given the current state of Football! Share this post Link to post Share on other sites
BlyBlyBabes 0 Posted March 10, 2010 [quote user="shefcanary"]Wading through the back of a fag packet given the current state of Football![/quote]I don''t think Deloitte does less than 100 pages!People want plenty of words and tables for their money.OTBC Share this post Link to post Share on other sites
BlyBlyBabes 0 Posted March 10, 2010 This post keeps sinking like a stone.Presumably self-satisfaction has set in and interest by fans in the prospects for new investment has faded.OTBC Share this post Link to post Share on other sites
lappinitup 629 Posted March 10, 2010 [quote user="BlyBlyBabes"]This post keeps sinking like a stone.[/quote]Such a shame Bly, such a shame![|-)] Share this post Link to post Share on other sites
Big Duncs Bloody Shirt 0 Posted March 10, 2010 [quote user="BlyBlyBabes"] This post keeps sinking like a stone.Presumably self-satisfaction has set in and interest by fans in the prospects for new investment has faded.OTBC[/quote]I''m interested BBB!! ... but only just read your post!Have been wondering when said report would pitch up on Delia''s Round Table ... am guessing Deloittes (is that how you spell it?) will struggle to come up with something innovative, that hasn''t been already explored elsewhere among the 92 clubs .. but if they do ... big respect to them!Can''t help but think we''d be mad not to sound out this Fernandez fella, although Delia appears to only consider this an option if it clearly says in the report, in paragraph 4, sub-section 15, ''phone Tony Fernandez and beg''.We clearly shouldn''t get complacent and assume that our financial woes will just disappear because ''we''re good again'', but it''s nice to have something positive to temporarily dull this one particular fear.How''s that BBB? ... do you feel loved now?!OTBC Share this post Link to post Share on other sites
birchfest 397 Posted March 10, 2010 [quote user="BlyBlyBabes"]This post keeps sinking like a stone.Presumably self-satisfaction has set in and interest by fans in the prospects for new investment has faded.OTBC[/quote]I think we all realise that, apart from Fernandes, there appears to be no one else on the horizion with the kind of money or passion for football that we need. The fact that we are also doing ok at the moment also holds of the urgency for a new buyer from us fans! Share this post Link to post Share on other sites
blahblahblah 2 Posted March 10, 2010 How many pages does it take to say :Find a Billionaire.Beg. A lot.? Share this post Link to post Share on other sites
BlyBlyBabes 0 Posted March 10, 2010 [quote user="Big Duncs Bloody Shirt"][quote user="BlyBlyBabes"] This post keeps sinking like a stone.Presumably self-satisfaction has set in and interest by fans in the prospects for new investment has faded.OTBC[/quote]I''m interested BBB!! ... but only just read your post!Have been wondering when said report would pitch up on Delia''s Round Table ... am guessing Deloittes (is that how you spell it?) will struggle to come up with something innovative, that hasn''t been already explored elsewhere among the 92 clubs .. but if they do ... big respect to them!Can''t help but think we''d be mad not to sound out this Fernandez fella, although Delia appears to only consider this an option if it clearly says in the report, in paragraph 4, sub-section 15, ''phone Tony Fernandez and beg''.We clearly shouldn''t get complacent and assume that our financial woes will just disappear because ''we''re good again'', but it''s nice to have something positive to temporarily dull this one particular fear.How''s that BBB? ... do you feel loved now?!OTBC[/quote]Yes. Thanks Dunc. I''m now basking in that warm fuzzy feeling.OTBC Share this post Link to post Share on other sites
Graham Paddons Beard 2,424 Posted March 10, 2010 I don''t think it is self satisfaction or lack of interest. I think the article doesn''t really say anything . "We are reading a report" . Surely if the report says "AND WE HAVE FOUND AN INVESTOR" that would lead Delia to be a bit more chipper than "we have done all we can" . The report could just be 100 pages of stating the bleedin'' obvious. Share this post Link to post Share on other sites
BlyBlyBabes 0 Posted March 10, 2010 [quote user="lappinitup"][quote user="BlyBlyBabes"]This post keeps sinking like a stone.[/quote]Such a shame Bly, such a shame![|-)][/quote]Ah but you bounced it all the way up again.Thanks.Any preliminary info from the report for us foot soldiers of the cause given your priviledged vantage point, old chap?We know you''d have to fit it into one line, but do try.OTBC Share this post Link to post Share on other sites
BlyBlyBabes 0 Posted March 10, 2010 [quote user="Graham Paddons Beard"]I don''t think it is self satisfaction or lack of interest. I think the article doesn''t really say anything . "We are reading a report" . Surely if the report says "AND WE HAVE FOUND AN INVESTOR" that would lead Delia to be a bit more chipper than "we have done all we can" . The report could just be 100 pages of stating the bleedin'' obvious.[/quote]Delia invited us to ''watch this space''.Somebody with some agenda will soon start leaking, mark my words.OTBC Share this post Link to post Share on other sites
lappinitup 629 Posted March 10, 2010 [quote user="BlyBlyBabes"]Any preliminary info from the report for us foot soldiers of the cause given your priviledged vantage point, old chap?[/quote]I didn''t see anything new which is why I didn''t start a new thread on it. Did you? Share this post Link to post Share on other sites
CambridgeCanary 0 Posted March 10, 2010 [quote user="lappinitup"][quote user="BlyBlyBabes"]Any preliminary info from the report for us foot soldiers of the cause given your priviledged vantage point, old chap?[/quote]I didn''t see anything new which is why I didn''t start a new thread on it. Did you?[/quote]But surely under the rules of this message board, not seeing anything new is the best and most common reason for starting a new thread??? Share this post Link to post Share on other sites
shefcanary 2,383 Posted March 10, 2010 I''ve seem a bit more. An extract from the Fag Packet that is the "Toilet" (in accountancy land that is what Deloitte''s are known as!) report says Lambert & Butler! Share this post Link to post Share on other sites
BlyBlyBabes 0 Posted March 10, 2010 [quote user="lappinitup"][quote user="BlyBlyBabes"]Any preliminary info from the report for us foot soldiers of the cause given your priviledged vantage point, old chap?[/quote]I didn''t see anything new which is why I didn''t start a new thread on it. Did you?[/quote]Well, Archant reported Deals as saying ''watch this space''. But I suppose that''s not new. So maybe you''re right.OTBC Share this post Link to post Share on other sites
Chelmsford Canary 0 Posted March 10, 2010 Hope that its a quadruple roll over and a Norwich fan decides he does not want the money - so gives it all to Delia and co...so thats 30,000,000/1 - got to be in it to win it Share this post Link to post Share on other sites
Anglofile 0 Posted March 11, 2010 Now having completed my role at Sheffield Wednesday FC, I want to concentrate a bit more on Norwich City: What the "elevator analysis" from Deloitte will probably show are a bunch of nice colorful pictures that they are good at producing in their desktop publishing area of the firm. Not much critical thought or any real thought provoking analysis as they were hired by Mr. McNally and they know which side their bread is buttered. If the book is anything like the one produced for Derby County a couple of years ago, it will be nice, heavy and look impressive but contain very little of value to an investor.What the report will show is a quite a bit of red ink produced by current and past management and boards. It should also show that the club is way over-levered for the amount of turnover it generates. Norwich could be a good club but it needs significant changes to be on a stable financial footing:1. Any new investment would have to fully dilute the existing shareholder base as the club is losing money and up to its ears in debt;2. Wages need to be trimmed to a level of less than 60% of overall turnover in line with responsible financial metrics;3. Any new moneys would need to be applied to indebtedness with the caveat that the lender renegotiate the terms allowing for some level of forgiveness with an equity kicker if the club is promoted again to the EPL;4. The management and board has has proven that they cannot run a profitable operation with responsible debt levels even with the generous gate and turnover they now enjoy; 5. It needs to be communicated to the fans that wages and spending will have to be curtailed in order to stabilize the club''s finances. This may or may not lead to poor performance as wages have little or no correlation to success in the CCC; and6. Due to the above, I''m not surprised that Mr. McNally is continuing to dodge our firm as he wants an investor that will show up, shut-up and buck-up. Regardless, as I continue to be for the Owls fans, I''m here for the supporters of Norwich City FC.Best,Anglofile Share this post Link to post Share on other sites
Canary Man of Kent 0 Posted March 11, 2010 [quote user="morty"]Eh?[/quote]What he said Share this post Link to post Share on other sites
JF 694 Posted March 11, 2010 [quote user="morty"]Eh?[/quote]Just what i was thinking! Share this post Link to post Share on other sites
morty 0 Posted March 11, 2010 Great, because this forum is really short of people talking vague gibberish. Share this post Link to post Share on other sites
JF 694 Posted March 11, 2010 Is this the American chap who compiled the report someone posted on here a few weeks ago? Share this post Link to post Share on other sites
Anglofile 0 Posted March 11, 2010 Haven''t moved into multi-syllabic words yet?? You saw the post. Ignore it at your peril!! Share this post Link to post Share on other sites
morty 0 Posted March 11, 2010 [quote user="Anglofile"]Haven''t moved into multi-syllabic words yet?? You saw the post. Ignore it at your peril!![/quote]What the hell are you on about? Share this post Link to post Share on other sites
Anglofile 0 Posted March 11, 2010 Haven''t you learned to read yet. Nobody is arguing you''re not at the top of the league. If you have something to add, please let me know.This is not a wind up.JMK Share this post Link to post Share on other sites
morty 0 Posted March 11, 2010 [quote user="Anglofile"]Haven''t you learned to read yet. Nobody is arguing you''re not at the top of the league. If you have something to add, please let me know.This is not a wind up.JMK[/quote]Okay what is your alleged role at Sheffield Wednesday and who is the company Mr McNally is allegedly ignoring? Share this post Link to post Share on other sites
PurpleCanary 5,554 Posted March 11, 2010 [quote user="Anglofile"]Now having completed my role at Sheffield Wednesday FC, I want to concentrate a bit more on Norwich City: What the "elevator analysis" from Deloitte will probably show are a bunch of nice colorful pictures that they are good at producing in their desktop publishing area of the firm. Not much critical thought or any real thought provoking analysis as they were hired by Mr. McNally and they know which side their bread is buttered. If the book is anything like the one produced for Derby County a couple of years ago, it will be nice, heavy and look impressive but contain very little of value to an investor.What the report will show is a quite a bit of red ink produced by current and past management and boards. It should also show that the club is way over-levered for the amount of turnover it generates. Norwich could be a good club but it needs significant changes to be on a stable financial footing:1. Any new investment would have to fully dilute the existing shareholder base as the club is losing money and up to its ears in debt;2. Wages need to be trimmed to a level of less than 60% of overall turnover in line with responsible financial metrics;3. Any new moneys would need to be applied to indebtedness with the caveat that the lender renegotiate the terms allowing for some level of forgiveness with an equity kicker if the club is promoted again to the EPL;4. The management and board has has proven that they cannot run a profitable operation with responsible debt levels even with the generous gate and turnover they now enjoy; 5. It needs to be communicated to the fans that wages and spending will have to be curtailed in order to stabilize the club''s finances. This may or may not lead to poor performance as wages have little or no correlation to success in the CCC; and6. Due to the above, I''m not surprised that Mr. McNally is continuing to dodge our firm as he wants an investor that will show up, shut-up and buck-up. Regardless, as I continue to be for the Owls fans, I''m here for the supporters of Norwich City FC.Best,Anglofile [/quote]Well, that’s a fairlyhard-nosed assessment. Although I’m struggling with “fully diluted”, as opposedto just plain diluted to a greater or lesser extent. That would need to beexplained.But it doesn’t take a genius to work out what the subtext here. For somebizarre McNally made himself look very stupid indeed by launching a misjudgedand laughably inaccurate attack on Kosich (and the EDP) over the original story.So Kosich (he’s Anglophile), in among the financial analysis, is having anunderstandable dig back at McNally while being the bigger man by still rootingfor the Canaries Share this post Link to post Share on other sites
Anglofile 0 Posted March 11, 2010 Please read the article in the Norwich evening News a couple of weeks ago. "Norwich City FC A Bird of a Different Color"I was quite complimentary of your club. A truly great piece of journalism and also not a wind up.Mr. McNally decided to go on the BBC and subsequently slam me and my firm.I''ve just finished an advisory relationship for an investor at SWFC. I''m sure you can google that also.I have several investors who have expressed interest. I guess Mr. McNally doesn''t like me or any other Yanks. Basically told me to go away.You can also check my blogs under "Anglofile" in bigsoccer.comAnglofile Share this post Link to post Share on other sites
singing canary 0 Posted March 11, 2010 didnt delia say that before ..? in front of alot of people at the royal norfolk show .? Share this post Link to post Share on other sites