silver fox 0 Posted February 7, 2004 Having just read that the club have finalised the deal for selling the riverside land for 6m, does this now mean there is money in the kitty for new players. The statement I read suggested that the sale was crucial in connection with the purchase of Huckerby, McKenzie and Svensson, but I thought the last share issue money covered those costs. Has anyone got a clearer picture of where Worthy now stands regarding money for strengthening the squad. Share this post Link to post Share on other sites
First Wizard 0 Posted February 7, 2004 Not sure Silver Fox, but I sincerely hope the board has''nt gone back to the days of playing funny games with figures again. Share this post Link to post Share on other sites
Saint Canary 0 Posted February 7, 2004 I think the share money paid for the transfers, a little over a million for the transfers if my memory serves, leaving maybe £300 - £400k over, which probably is set aside for Peterborough should Leon meet certain performance criteria.I think the reference of transfers in the land sale statement may refer to the wages for Hux and Svensson. We know the club have smashed the wage limit for Hux and I imagine we will pay him more in wages than we paid Man City for the transfer, I also suspect Svensson is on a few thousand a week. I may be wrong but I think they were banking on the land money to pay for wages.Saying that I think they should squeeze a few more pennies for Worthy to play with. We are sitting top of the league, with some good players but why rest on your laurels? Strike while the irons hot! Lets bring a couple more players and strengthen the squad even further! Lets go for it, take the chance we have and win this league! I can’t remember the future looking so good for City in a long time, lets continue to move forward! Onwards and upwards! Share this post Link to post Share on other sites
no1canary 0 Posted February 7, 2004 Some of the money will probably be put in a kitty for next years transfers. IF we go up we will have to spend big (maybe wrong?) and the future of the club has to be put first, we don''t want to be having to sell people like Hucks coz we went OTT on transfers and wages. Lets wait and see how we get on coz at the mo there is no need for extra players if we continue to pull away from the rest of the pack. Share this post Link to post Share on other sites
Temp the Revelator 0 Posted February 9, 2004 If everyone remembers correctly, the securitisation loan of £15m which was taken out earlier this season was dependent on the sale of this land - so, my guess is that a large chunk of the 6m will simply go towards paying off some of that loan. Share this post Link to post Share on other sites
a1canary 0 Posted February 9, 2004 Indeed, i''m sure the land money will not be available for transfers. It goes towards the loan and as saint canary said, player wages. The share offer paid the transfer fees of the new players.And all this before we have even thought about the 650k archaeological survey, the pitch, the corner infills, the wage increases if we go up, the transfer payments if we go up (Leon).I imagine, if we go up, we''ll seek to do something inbetween Bradford/Ipswich after they survived their first seasons, and West Brom when they went up. That is, something between spending a boat load, going down and going bust, and spend nothing and going down through lack of quality. Just goes to show how difficult a balancing act it will be. Spend sparingly and VERY carefully i think will be the way to go! Share this post Link to post Share on other sites
