Jump to content

Latics Announce Financial Year Losses


Recommended Posts

  • Replies 152
  • Created
  • Last Reply

Top Posters In This Topic

£1.5 million...

 

:disappointed:

 

So who do we owe what ? Is this all to Blitz... or is some now to banks...

 

As I understand it, Simon Blitz has directors loans to the tune of £4.5m and nothing is owed to the banks. The worry is, now that he is no longer putting his hand in his pocket to cover these losses, how are they to be funded. Selling Eaves covered a couple of months. Does a player or two have to be sold in January? Never before have we been more in need of an FA Cup run...

Link to comment
Share on other sites

As I understand it, Simon Blitz has directors loans to the tune of £4.5m and nothing is owed to the banks. The worry is, now that he is no longer putting his hand in his pocket to cover these losses, how are they to be funded. Selling Eaves covered a couple of months. Does a player or two have to be sold in January? Never before have we been more in need of an FA Cup run...

I can see the headline now

 

FA Cup 3rd Round Draw

 

Manchester United v Oldham Athletic

 

 

Headlines : FA Cup saves Oldham :grin:

Link to comment
Share on other sites

They've included an exceptional loss of £550k in respect of the planning application for the redevelopment of BP but the quoted figures still don't stack up.

 

If you add the £550k to the net current net liabilities at 31/12/08 you're up to £4.12m in the red. We're actually at £4.63m at 31/12/09 which means we've gone backwards to the tune of £510k but turnover only fell by £277k and Penney reportedly had a smaller playing budget than Shez. The one-off cost of dropping the Lookers was in a previous year too.

Link to comment
Share on other sites

As I understand it, Simon Blitz has directors loans to the tune of £4.5m and nothing is owed to the banks. The worry is, now that he is no longer putting his hand in his pocket to cover these losses, how are they to be funded. Selling Eaves covered a couple of months. Does a player or two have to be sold in January? Never before have we been more in need of an FA Cup run...

Bloody Hell, that was a worthwhile piece of business. :shock:

Link to comment
Share on other sites

I realise that there's a lot of gaps to fill in with the figures, but by my quick matchbox calculation, despite supposedly being on something of a cost cutting measure throughout 2009 our operating cost base appears to have only fallen by £14k.

 

I will look more carefully at the figures available, but it seems on the surface to be a little bit poor.

Link to comment
Share on other sites

So where's the cash gone for Neal Eardley's sale then???

 

A few on here are correct...these stats DO NOT ADD UP!!!

 

Alarm bells are ringing...this black hole really is a big, big black murky hole!!! Cheers tho TTA.......

 

Aye there should be at least half a million income from Eaves and Eards

Edited by razza699
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...