| Burnley in Financial trouble on 12:38 - Nov 2 with 244 views | SaintNick |
I said this on here a few years ago, their owners bought a club with no dept and then leveraged the club & ground (IE Mortgaged) so they could effectively get their money back and had bought the club for nothing.
Some might realise now why I spoke up for Sport Republic when they took us over without doing this sort of thing |  |
| Satisfying The Bloodlust Of The Masses In Peacetime |
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| Burnley in Financial trouble on 12:49 - Nov 2 with 208 views | PatfromPoole |
| Burnley in Financial trouble on 12:38 - Nov 2 by SaintNick |
I said this on here a few years ago, their owners bought a club with no dept and then leveraged the club & ground (IE Mortgaged) so they could effectively get their money back and had bought the club for nothing.
Some might realise now why I spoke up for Sport Republic when they took us over without doing this sort of thing |
Do we own our ground?
Isn't it a long-term lease with the City Council? |  |
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| Burnley in Financial trouble on 13:13 - Nov 2 with 144 views | Butty101 |
Sport Republic went on a spending spree with the debt leveraged on the club. When they bought the club it had a debt of £70.8 mill and a turn over of £150mill.
The debt in last years accounts was £110 Mill and can only of gone up after another season in the championship. Turn over with a reduced parachute payment will probably be at £90mill.
Its unimaginable what happens to the club if we dont go up this season with no parachute payments next season.
Its a shame it took them 4 years to get their act together. As it now feels like they are building something special. |  |
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| Burnley in Financial trouble on 13:26 - Nov 2 with 115 views | PatfromPoole |
| Burnley in Financial trouble on 13:13 - Nov 2 by Butty101 |
Sport Republic went on a spending spree with the debt leveraged on the club. When they bought the club it had a debt of £70.8 mill and a turn over of £150mill.
The debt in last years accounts was £110 Mill and can only of gone up after another season in the championship. Turn over with a reduced parachute payment will probably be at £90mill.
Its unimaginable what happens to the club if we dont go up this season with no parachute payments next season.
Its a shame it took them 4 years to get their act together. As it now feels like they are building something special. |
Not that I want to be holding myself out as Dragan's mouthpiece here, but......
Didn't they take out a £75 million loan at the time of COVID, to try and cover the potential loss of income from the pandemic?
Seem to remember that happening; suspect they would not have done that if it were not for the pandemic. | |
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