are leeds united the next florentina?

Message Bookmarked

Bookmark Removed

it breaks my heart. come march: pitch sold to first division bolton for £500 and peter ridsdale's old stereo.

― matthew james (matthew james), Thursday, 30 January 2003 23:22 (twenty-three years ago)

wimbledon will be putting their home attendances to shame soon...

― stevem (blueski), Thursday, 30 January 2003 23:23 (twenty-three years ago)

i am suspicious of the way newcastle are flinging the cash about actually (£10m for woodgate upfront no instalments boasts sir bobby), ok so they're in the champs league for now and get good attendances like loads of other clubs but they've also spent tons with little recoupment... where's the wealth come from?

by comparison even liverpool, who have always had this royalty-style mystery X over their finances that even man utd have never had are visibly feeling the pinch

― zemko (bob), Friday, 31 January 2003 03:05 (twenty-three years ago)

leeds look in a terrible mess. it is amazing the way that club was run. and man city got a great deal with fowler. £3m upfront! the installment based on appearances thing is going to work well for them too.

tho man city seem to be throwing around as much money as newcastle at the moment. again, you have to wonder...

i wont shed a tear for leeds thats for sure, their arrogance precludes that, but i'm not laughing either, the perilous situation at huddersfield town precludes that:(

― gareth (gareth), Friday, 31 January 2003 10:39 (twenty-three years ago)

You can have our chairman if you like. And our manager. And second choice goalkeeper, Nathan "Coco the Clown" Abbey.

― Dom Passantino (Dom Passantino), Friday, 31 January 2003 11:31 (twenty-three years ago)

I am so glad we got rid of him, he's rubbish.

― chris (chris), Friday, 31 January 2003 11:35 (twenty-three years ago)

tho man city seem to be throwing around as much money as newcastle at the moment. again, you have to wonder...

They got a ridiculously good deal on the new ground. They had to shell out some money up front (could be wrong, but I think it was about £8 million) but other than that it's all been paid for by the Commonwealth Games and Manchester tax payers. They get to keep all gate receipts up to 34,000 (current Maine Road capacity) and then they give Manchester City Council a percentage of the money for attendances above that figure.

They're spending on the basis that the new ground makes them extra money and that they stay in the Premiership. This season they obviously look safe but don't underestimate their ability to self-destruct (and Keegan's of course). And if things start to go badly the 'best supporters in the country' won't necessarily always turn out (3007 for a League Cup match not too long ago).

― James Ball (James Ball), Friday, 31 January 2003 11:40 (twenty-three years ago)

something is very very fishy about leeds finances at the mo... i thought they had to pay back their huge loan over 10 years or something. all was well last season (ish), even when ferdinand got sold they said that was all they had to do. suddenly they have to sell everyone at the most idiotic knockdown prices (fowler £3m) to assuage instant £90m debts! selling woodgate makes no sense at all financially nor especially teamwise (he is the captain and lynchpin of the shaky defence, and easily worth £15m even in todays market) if man utd came in with £12m for alan smith would they take that too? at least get rid of viduka and kewell first if ur that broke...

― zemko (bob), Friday, 31 January 2003 16:07 (twenty-three years ago)

Leeds securitised. Which is another way of saying 'got themselves in 70M of debt based on unrealistic assumptions, which financial advisors who do this thing rarely talk about as it blows a whole in the whole flaming strategy'.

That'll learn em. They have to pay back as much as they can, as it's a millstone around their necks for the next 25 years; the income is taken straight out of season ticket advances, so instead of being a regular montly payment, like Ocean Finance, it's a yearly payment. Having spunked half of your upfront cash in one fell swoop, you're buggered for the rest of the year and can't join in the great supermarket sweep that is the close-season transfer market - the more they pay now, the more they can play the game.

Grebt lessons from Leeds situation:

1) Don't trust a PR friendly Chairman. (Will Leeds Council dump him from the consortium running the City's schools? Ph34r for your child's education if not.)

2) Don't indulge an unproven manager

3) Money doesn't win you things - just helps your ability to win. Things like club culture are as important as the bank balance.

Leeds - the highest profile case (yet! look out Chelsea! Everton! Newcastle!) of small club mentality meeting big money attitude with inevitable result.

― Dave B (daveb), Friday, 31 January 2003 16:13 (twenty-three years ago)

todays mad bargains: bullard £275k, christie and riggott £3m. but then £4m for ricketts ahahahahaha

― zemko (bob), Friday, 31 January 2003 16:17 (twenty-three years ago)

Christie is getting the most attention, and I'd have thought £3m was a reasonable price for him, but I think Riggott might prove the better player, and that might look a huge bargain.

― Martin Skidmore (Martin Skidmore), Friday, 31 January 2003 21:41 (twenty-three years ago)

i agree. southampton have been wise with higginbotham (tho as a centre back? obv bridge is never gonna get displaced at lb) and prutton too

― zemko (bob), Friday, 31 January 2003 22:12 (twenty-three years ago)

You must be logged in to post. Please either login here, or if you are not registered, you may register here.