ECHO Comment: "Fears of Witch-hunt Against Liverpool FC" part 3

[Saint Domingo]

Woah woah woah, let's not prejudge here. The court must decide!

It will, we need the 6 names though

 

[Johnniepk]

Its funny as the penny is starting to drop for some of their fans, that they are not actually a very sustainably run football club.

That "going concern" thing essentially states the owner can't/wont put the funding in to guarentee the clubs existence if there is a financial shock akin to the season being delayed on its start date. Even West Hams owners provided far better assurances.

I actually though these accounts would be slightly worse (though next years will be a lot worse). FSG taking on the Covid related debt as opposed to LFC has helped cover up to 200m worth of debt so far (so it could have easily been another 50-60m this season onto their loss of nearly 50m in real terms). Their debt is now officially 200m, it will grow substantially more in next years accounts as you have a whole year of Covid as opposed to 2 months. There is also owners debt on top of that that will not be counted, but FSG are owed at least 200m for taking on LFC debt that at this point they don't count but if/when they want to sell it will be factored back in. So you are taling 2-400m worth of debt with thise likely to be 4-600m by the time the next set of accounts are announced.

How have they got into this trouble? Theyve done a Leeds. Warren Buffet also says crashes are good, because its like the tide going out- you get to see who has been swimming with no clothes on. That is very much LFC. When Euro-pounds are converted they have got the 3rd highest wage bill in world football. They are only behind Barcelona (1billion in debt) and City (who have heavy shareholder investment). They are above PSG, Bayern, Manchester United and are completely blowing out the water the likes of Chelsea, Arsenal etc. Chelsea are also massively backed, and they are absolutely miles ahead of them.

It doesn't take a genius to work out, that unless your ownership have huge reserves and a huge willingness to throw good money after bad (which FSG don't) or the business is able to cope with debt levels rising to up to 1bn (which they cant support) something has to give. They are spending well beyond their means and its catching up with them.

Another couple of things to note, from some digging around. The £325m wage bill DOES NOT include bonuses for winning the league, which were paid in July. So any hefty bonus payments will be added to next years accounts (in fairness, these will not be as big as some people suggest, but even if they are the 10% mark, you are looking at £355m wage bill and 2nd only to Barcelona). There is also some concern that some of the increments u.pwards are 1 off payments, but some are increases that then stick in, so tmhey are stuck with that wage moving forwards.

They also lead the way for agents fees, sign on fees etc. None of these get counted as wages, normally put into "other expenses". So in essence the "real" wage value if you added in then premiums they payon both of those is likely to be very close to 400m and amongst the biggest in world football.

It doesnt take into account the Nike deal, but given it was a pandemic the Nike deal will be nowhere near as big as they forecast, and now they are nowhere near the title and not in the CL it won't be moving forward.

In essence not only can they not support that wage spend, but it is highly reckless. It is starting to dawn on a few of the smarter ones, who can read balance sheets and financial statements the level of mess their reckless spending has got them into. The hole idea of "net spend" is ridiculous as well, as it really contributes very little to the running of a football club. Wage spend is far more significant, and like Leeds before they have gambled massively and failed.

As a final aside, selling their players for their intrinsic value (note a lot less than LFC's value and a lot less than their idiotic supporters value) will be very difficult. Salah might have an intrinsic value of say 70-80m, but given the financial difficulties I can't see anyone paying close to that for a 29 year old. The likes of Firmino and Mane, given the wages they are on, they will probably have to accept loan agreements if they were to go after the poor seasons they've both had. VVD has come back from a huge injury so nobody is spending more than they did on him.

So lets enjoy watching this car crash unfold.

A lovely read. Thank you

 

[brigadier]

I thought they didn’t spend money and did it the right way?

They have a small squad, the doctors fees are really building up.

 

[tsubaki]

They have a small squad, the doctors fees are really building up.

"if I had a pound for every time someone had an asthma attack....."

 

[brigadier]

It’s will be great to watch it unfold. I hope they have done a Leeds an in a few years are battling it out in league 2.

That’s club tho always has a way of landing on its feet they will probably end up with new mega rich owners.

I thought they could have been done last time when they nearly went in to administration. Still they some how found away out of that.

I despise them and all the weird deluded cult fans deserve some bad luck more than any other fan in the country. They cry an moan when they have had it so easy for so long. If they had real though times that club would have about 5 fans left. I hate to say it but am sure they will find away out of this too they really are the devils club.

They did go into administration the bank removed the chairmen and put in place their man of choosing to run all administrative work, the club was then sold against the wishes of removed chairmen who later settled out of court , the premier league and fa looked the other way , the establishment's club that's for sure.

 

[nikom court]

Nike are not buy any player for the RS. They won’t be a CL team maybe not even a Europa league team

thats wrong mate,
one of the lads in the arkles was told by a mate of robbie fowler that they are buying mbappe
and sancho as part of the nike deal.

 

[Yarrgh]

I see some of their ‘legends’ have forgot about what their owners tried to do last week.
Now all is forgotten and he wants a spending spree.

Nothing says sorry like pretending nowt happened and carrying on as before they revealed their intentions.

They're only sorry they weren't given an open door and smiling approval from all the non-scabs.

 

[Yarrgh]

It’s will be great to watch it unfold. I hope they have done a Leeds an in a few years are battling it out in league 2.

That’s club tho always has a way of landing on its feet they will probably end up with new mega rich owners.

I thought they could have been done last time when they nearly went in to administration. Still they some how found away out of that.

I despise them and all the weird deluded cult fans deserve some bad luck more than any other fan in the country. They cry an moan when they have had it so easy for so long. If they had real though times that club would have about 5 fans left. I hate to say it but am sure they will find away out of this too they really are the devils club.

I believe in Germany it's known as the bigger fool theory. There's always a bigger fool around the corner to buy the club once the current fool departs. Eventually though, there's no bigger fool and then everything falls apart.

 

[mahermi1]

They did go into administration the bank removed the chairmen and put in place their man of choosing to run all administrative work, the club was then sold against the wishes of removed chairmen who later settled out of court , the premier league and fa looked the other way , the establishment's club that's for sure.

Yeah other clubs get wound up and dissolved, or get big points deductions, but some clubs can get away with it Scott free.

 

[mahermi1]

Nothing says sorry like pretending nowt happened and carrying on as before they revealed their intentions.

They're only sorry they weren't given an open door and smiling approval from all the non-scabs.

Did anyone expect any different from Aldridge.

 

[Efcjake]

Go ahead and have your bullying pile on if you feel you need it. The irony on a forum that brilliantly has a mental health thread pinned, talking about a club which has amazing outreach programs and EitC. The club would be ashamed of a few (very small) of you. The majority are absolutely sound

Interesting take pal.

 

[Mutzo Nutzo]

Go ahead and have your bullying pile on if you feel you need it. The irony on a forum that brilliantly has a mental health thread pinned, talking about a club which has amazing outreach programs and EitC. The club would be ashamed of a few (very small) of you. The majority are absolutely sound

I have been entirely clear on my Everton support, allegiances since day one here and because I have argued against grain of the echochamber three times, I must be a red, despite trying to provide a case of logic to each of them & each time, my predictions going on to be proved correct. Funny that

My reason for more posts outside of the Everton pages is simply there is more debate, its not an echochamber, whether it be on rules, general football , finance or other clubs. Anyone suggesting I must be a red for posting in the Liverpool thread should be reminded it has almost 3,000 pages so I suspect you can make that case against almost anyone here.

All the best decent fellow blues

Shut the door on your way out - you massive danger

 

[davek]

I see some of their ‘legends’ have forgot about what their owners tried to do last week.
Now all is forgotten and he wants a spending spree.

Great isn't it?

All the divvies who last week during the Scab Club's putsch were saying "FSG will be forced out by us" are now meekly asking for FSG to just govern more democratically and spend a few quid more.

I expect that climbdown off media whores like Carragher and Aldridge...and no doubt Souness and Murphy will join 'Cara' soon in welcoming Henry et al back into the fold...but that fan group of their's, the Spirit of Shankly, have been completely found out for the paper tigers they are.

Using the situation to try and get one of their own a cushy spot in the boardroom where they'll be given the runaround but get a boss seat to watch the game.

 

[davek]

Go ahead and have your bullying pile on if you feel you need it. The irony on a forum that brilliantly has a mental health thread pinned, talking about a club which has amazing outreach programs and EitC. The club would be ashamed of a few (very small) of you. The majority are absolutely sound

I have been entirely clear on my Everton support, allegiances since day one here and because I have argued against grain of the echochamber three times, I must be a red, despite trying to provide a case of logic to each of them & each time, my predictions going on to be proved correct. Funny that

My reason for more posts outside of the Everton pages is simply there is more debate, its not an echochamber, whether it be on rules, general football , finance or other clubs. Anyone suggesting I must be a red for posting in the Liverpool thread should be reminded it has almost 3,000 pages so I suspect you can make that case against almost anyone here.

All the best decent fellow blues

All you needed to do was to say you're a red and then post in a reasonable way. You haven't done the former but you have done the latter. You have no need to keep the pretence up. Personally I find your posts well constructed and offering a different way of viewing Liverpool FC issues. There's no need to have masqueraded as an Evertonian. Others are pulling you up for your masquerade, not the content of your posts so much.

 

[catcherintherye]

I see some of their ‘legends’ have forgot about what their owners tried to do last week.
Now all is forgotten and he wants a spending spree.

The big payment covers LFC and all their other enterprises losses (beyond the 50m loss, it covers the 200m actual figure). FSG took that onto their balance sheet and the money is beig used to cover that. Not spending.

Im glad Aldo is writing this though, it will make the nataives restless as they think FSGs money belongs to LFC.