Championship Clubs nearly £1bn in Debt

[Tetteys Jig 830]

[quote user="nutty nigel"]You don''t have to pay your mortgage back Jimmy?

Which of these assets do the binners have? If it was a mortgage surely they''d have negative equity?[/quote]

Well yes, but if I decided i couldn''t afford it, i''d sell my house (liquidise my assets). I guess you are probably right that Ip5w1ch would be in ''negative equity'' though, but as long as they can manage the debt, they will pin their hopes on getting a couple of years in the prem in the next few seasons.

You can see what a difference the three years there made to our finances. We very nearly ended up in the same dire straights as them when we went down to league 1.

[Bill 1,788]

What on earth are you warbling on about ?"manage their debt"that is the whole point, they have not been able to manage their debt for nearly two decades !they only ''cleared'' their original £8m debt by borrowing more (£25m) !even then they were not able to meet even the interest payments and Evans took over the debt and the club - and has simply been piling on the interest to further increase the debt

when we were promoted we owed £16.8m - the paupers currently owe £82m and they are still to declare this years debtpresume they get promoted in 2015 there is every suggestion that their debt will be around £100m ..... and you bleat that they might have some chance of paying off some of this if they get promoted

as to the guff about us ending up like that, it is unbelievable that a ''supposed'' City fan would not be aware of the difference between the clubs,in 2009 we had assets (Carrow Road, land around it and the training ground) that far outweighed what was owed, the paupers have NOTHING, no ground no land and no training ground ... and their debt is now at least FOUR TIMES what we had then !

the paupers have survived by poncing off others - be it having a chairman who lied to suppliers and contractors or a board that sanctioned defrauding the taxman - they are now only in existence by the dint of they''re being some kind of tax avoidance scheme and you seriously think that a club like ours would stoop to those levels ?

[lappinitup 629]

[quote user="Jimmy Smith"]I guess you are probably right that Ip5w1ch would be in ''negative equity'' though, but as long as they can manage the debt, they will pin their hopes on getting a couple of years in the prem in the next few seasons.

You can see what a difference the three years there made to our finances. We very nearly ended up in the same dire straights as them when we went down to league 1.[/quote]You sound so naive Jimmy. The binners went into administration in 2003 with debts of £35m, the creditors were paid 5p in the pound. In 2007 they were in debt again to the tune of c£36m when Evans bought them out, They now owe Evans £82m. They have no assets (stadium and training ground are rented). So, for years now they''ve lived beyond their means. They''ve ripped off local businesses (including St John''s Ambulance) and even their own shareholders who''s shares became worthless with the Evan''s takeover. Their last set of accounts show a loss of almost £10m, so they''re STILL losing money. Conversely, we had a debt of c£20m, of which £7m was inherited from Chase and £15m for the South Stand rebuild. Our assets were the ground, Colney, income from the hotel and Delia''s Catering. For you to compare us with the scum is naive in the extreme and frankly, insulting.

[Bill 1,788]

unfortunately young master smith does have form in this areanot for the first time he has tried to put an inaccurate spin in the binners favourhmmmm

[lappinitup 629]

[quote user="Jimmy Smith"]they will pin their hopes on getting a couple of years in the prem in the next few seasons.[/quote]Forgot about that bit Jimmy. They spent £20k last summer on bench warmers, freebies and other peoples cast offs, topped up with a few loan players. Does that sound like a team seriously trying to get back in the Prem?

[Bill 1,788]

Then we were battling for promotion in early 2011 we had a (real) investor who put up £2m - Mr FoulgerWhereas the paupers had their training ground taken from them - offshore company registered in GuernseyYou would think that even those dimwits would finally grasp what is going on at poorman road

[nutty nigel 7,533]

It''s amazing how many on here appear to be as dimwitted as them!