Gartside's comments on the club debt

Seemed to be on the 'shitty throwing' edge?

He certainly takes no prisoners, what he said about our debt makes interesting listening only, 8million owed to the banks isn't too bad really.

I think he made a very good response.

Smoke and mirrors.

Does anyone really take anything this fat prick says seriously anymore??
He is one lying twat and I fuckin hate him for presiding on the near demise of our club while milking it dry - 'fan'? my fuckin arse he is

Wellies and fish spring to mind

Why even bother owing so little to Barclays when most of the debt is owed to  Eddie.

Why just not consolidate the whole fucking lot, then it's all owed to Eddie?

I'm thinking hes saying fuck it, the interest I'm getting off 160mil will more than pay for the interest I'm paying on the 8mil, so I'm still Quids in.

He's a lying prick in full-on panic mode.

The club (ie him) gambled on staying in the Prem and using the new TV deal to wipe out the debt and erase from the public consciousness, his complete fucking ineptitude as a chairman.

If he told me it was Wednesday, I'd check my calender.

And when it all goes tits up (which it will, because Freedman isn't good enough to get us back up before it's too late), he'll fuck off into obscurity in his big house with his feckless wife (bummed by Allardyce) and spend all day watching Jeremy Kyle, eating caviare and pondering over what his next big purchase will be: A Ferrari or a Bentley. 

He's a twat.

I know I'm a cracked record on this but I simply don't get it.

Someone has put really big money into the club - and more to the point is still doing it (our income doesn't cover our costs and probably never will at the current set up) - so why are they doing it - and what are they getting out of it?

They will never get their money back from the club.

They will never get their money back from the sale of the asetts (buildings, land, hotel, etc).

They will never get their money back even if the Reebok area development plan gets approval.

So why don't they seem to mind?

I just can get my head around it.

How can the Chairman and the CEO of Burnden Leisure lose what £100 million in the last 5 years and still keep their jobs?

All seems very odd to me.

It doesn't matter what semantics Phil uses this IS real debt and with UEFA FFP rules coming in we'll soon be facing a transfer embargo unless some way is found to properly balance the books. There's no point talking about 'equity' because the entirety of Burnden Leisure doesn't come close to being worth more than 160 million quid. The only way the books can be balanced is for us to get back into the premier league and stay there. I can't see that happening with the current setup.

The major flaw was getting relegated from the PL by Coyle. That was definately not the plan. Reduce wages, bring through and develop youth but keep us in the PL. Gartside totally failed to recognise Coyle was not capable of doing that then repeated his error bringing in Freedman who is equally incapable of taking us back there. Basically we're now in the shit, deep in debt, whoever it's to, poor team, poor manager, no chance of improvement any time soon and hands tied by FFP rules. Basically we're stuffed and unless we suddenly pull some players out of a hat from somewhere I can only see us going further down and even possibly financially too. Despite ED I would say this is the worst situation BWFC have ever been in and peeps really do need to take this seriously.

Whitesince63 wrote:The major flaw was getting relegated from the PL by Coyle. That was definately not the plan. Reduce wages, bring through and develop youth but keep us in the PL. Gartside totally failed to recognise Coyle was not capable of doing that then repeated his error bringing in Freedman who is equally incapable of taking us back there. Basically we're now in the shit, deep in debt, whoever it's to, poor team, poor manager, no chance of improvement any time soon and hands tied by FFP rules. Basically we're stuffed and unless we suddenly pull some players out of a hat from somewhere I can only see us going further down and even possibly financially too. Despite ED I would say this is the worst situation BWFC have ever been in and peeps really do need to take this seriously.

I was saying something similar in the pub the other night.

This is like the dark days of having to found The Lifeline and flogging the Embankment off to the Co-op but far worse.

Back then were just skint and we almost folded.

Now we've got this massive fucking debt hanging over us and I neither believe nor care what Gartside says, we're deep in the shit.

There's a very good chance there won't be a BWFC in ten years and that's a scary thought.....