Minutes from Christian Purslow and SOS Meeting

[Lecter]

I am entirely in agreement with those that think their time is up. I just want to see the transition handled in a discreet and professional manner.

I think the nature of the owners rules out any chance of that

You only have to look at how the Rangers change of ownership is being handled

[James P]

Your information is kind of contradicted by Purslows isnt it?

Purslow claims the current debt is £237 million and the owners have reduced the debt last year by £130 million??

If your figures are correct then Purslow is lying

My figures are straight out of the 2008 published accounts.

My understanding of Purslow's £130m claim is that it is the amount put in in the last 2 1/2 years, not the last year. If you check the reporting of the story in the Times and Telegraph, they say the same. It therefore includes the £60m or so that came in from the Cayman co at the time of acquisition. Add in the £60m that was paid off last year, and you're £10m away from the
£130m number.

Add back the £60m paid last year to the £237m still outstanding, and the maximum debt in the last year or so was still less than £300m, and therefore nowhere near £350m.

[peekay]

Poor choice of phrase, granted, but the fact is that we've bought our six most expensive players of all time with them in charge.

If you reckon that Cisse was sold at a profit, you need your head examined! Bellamy was sold because he never lived up to his promise, and just happened to assault one of his team mates.

We lost the equivalent of £8m on the Keane deal, and got a couple of mill for Arbeloa. And it wasn't G&H who pissed off Alonso, it was Rafa.

If Chelsea, Man City and Man Utd weren't spending like it was going out of fashion (no longer in the case of the latter, obviously) then I reckon that a lot of people would be viewing our spending in an rather different light. A new contract has also been given to Rafa for the not inconsiderable sum of around £20m over 5 years.

It's not like these guys have employed a slash and burn policy, selling off every decent player and stripping the cash out. The fact that their tenure has been a failure is clear on the pitch, but it's more to do with the fact that they simply don't have the financial muscle that certain other clubs do, and that the economic crisis has removed any prospect of them maximising revenues through the construction of a new stadium. The fact that they have a habit of making extravagant promises doesn't help, of course, and I am entirely in agreement with those that think their time is up. I just want to see the transition handled in a discreet and professional manner.

I generally agree with some of your sentiments but heavily disagree with this post. We have received increased TV money.

We never had a manager in recent times who was able to balance the books. Not only in terms of player sales but also in terms of revenue achieved through our CL runs. We have had five major transfers - Torres, Mascher, Keane, Aqua and Johnson. Out of the five - I would say Aqua and Johson have been balanced out by Crouch and Alonso sales.

It has been three transfer windows in which we have made a significant profit in terms of players coming in and out. And I am fairly confident that the debt that they piled on to the club does not help with that. The thing that worries me is the parallels to Hicks reign in other places - Rangers, Corinthians. Loads of bluster at first, big money signings then everything down the drain.

The issue is not that we cannot compete in the transfer market with City, ManU and Chelsea. The issue is that we cannot compete with Spurs, Aston Villa, Sunderland, and soon Birmingham.

[Shanks]

I am entirely in agreement with those that think their time is up. I just want to see the transition handled in a discreet and professional manner.

I take it you don't subscribe to the S.O.S. train of thought?

[darkstar]

The fact that they have a habit of making extravagant promises doesn't help, of course, and I am entirely in agreement with those that think their time is up. I just want to see the transition handled in a discreet and professional manner.

I think we are all in agreement that we need change. It's the method(s), that we as a collective disagree. I support neither G & H, and their PR nightmare or SOS, and their PR nightmare.

[Guest]

I think we are all in agreement that we need change. It's the method(s), that we as a collective disagree. I support neither G & H, and their PR nightmare or SOS, and their PR nightmare.

[Rich]

Nice to see no-one bleeting about the evil H&G has come up with an alternative to the situation we find ourselves in.

In commercial terms the club is light years ahead of where it was only 5 or 6 years ago - and it's a bit misleading saying that Bellamy and Cisse on their own allowed us to buy Torres - that kind of transfer just wouldn't have happened with the previous owners, not just with the initial large fee but the commitment of a 6 year contract and very high wages.

[James P]

Cisse was sold to fund the deal.

Cisse was sold because he is pants.

[Daniel mote]

THEY'VE GIVEN US!

Rafa sold Bellamy and Cisse at a profit to fund the Torres deal.

Sold Riise like for like and Keane we got back, so all in all, not much really...

that's without bringing Alonso and Arbeloa, into the equation.

All they have given us is massive debt.

[James P]

I take it you don't subscribe to the S.O.S. train of thought?

No. They've got the right end game in mind, but their methods are embarrassing and divisive.

[James P]

Nice to see no-one bleeting about the evil H&G has come up with an alternative to the situation we find ourselves in.

In commercial terms the club is light years ahead of where it was only 5 or 6 years ago - and it's a bit misleading saying that Bellamy and Cisse on their own allowed us to buy Torres - that kind of transfer just wouldn't have happened with the previous owners, not just with the initial large fee but the commitment of a 6 year contract and very high wages.

[James P]

Tell me the six most expensive players we have BOUGHT, without Rafa balancing the books..

Bellamy was sold at a profit and Cisse was sold to fund the deal.

Whether the owners or Rafa pissed off Alonso is irrelevant.
They didn't give us Aquilani.

I'm confused here. Are you suggesting that balancing the books is a bad thing? If you are, and are suggesting that we should be spending far more money than we are making on the basis that it should buy us success and therefore will pay for itself, I have two words for you: Leeds United.

[James P]

I think we are all in agreement that we need change. It's the method(s), that we as a collective disagree. I support neither G & H, and their PR nightmare or SOS, and their PR nightmare.

[Guest]

They don't seem to have any PR nous whatsoever. It's also good to see that their latest tactical manoeuvring hasn't produced anything concrete as yet, as there has been no reaction from Purslow and al yet.

[Neil Young]

Hold on to your seat fella!

Pricewaterhouse and Deloitte will be along soon, maybe Ernst and Young will put in an appearance and tell us what's happening..

.

Has anyone seen Ernst? I'm afraid the Powerpoint deck is on his laptop...

*drums fingers on table*

Erm, in the meantime, how is everybody?




Who's your uncle, Shanks? Which way did he vote on the Iraq War?