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Post by prestwichred on Nov 27, 2018 0:34:59 GMT
Can someone please explain how we accumulated 5 million In debt from MK’s tenure.
I know he dumped a load of debt on us when he left.
We now have the original debt we had when he joined.
To lose that amount in a relatively short time smacks of really bad financial management.
We had less debt from over 30yrs of JW ownership😳
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Post by bonitared on Nov 27, 2018 1:42:01 GMT
Can someone please explain how we accumulated 5 million In debt from MK’s tenure. I know he dumped a load of debt on us when he left. We now have the original debt we had when he joined. To lose that amount in a relatively short time smacks of really bad financial management. We had less debt from over 30yrs of JW ownership😳 It fails the ‘so what’ test. Whatever money he spent,or wasted, and whether it was bad management or not,he has gone and his debt has gone with him. In the meantime,we’ve had 5 years of Superleague which we most definitely wouldn’t have had without his,or someone else’s,intervention. Where we’re at now is that we have a competitive squad and we exist. We have the same debt we had when he arrived,no more no less, so where exactly is the problem. I was very critical of Koukash when he was running things but I really can’t see the problem here. |
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Post by gunner on Nov 27, 2018 13:33:21 GMT
Can someone please explain how we accumulated 5 million In debt from MK’s tenure. I know he dumped a load of debt on us when he left. We now have the original debt we had when he joined. To lose that amount in a relatively short time smacks of really bad financial management. We had less debt from over 30yrs of JW ownership😳 It fails the ‘so what’ test. Whatever money he spent,or wasted, and whether it was bad management or not,he has gone and his debt has gone with him. In the meantime,we’ve had 5 years of Superleague which we most definitely wouldn’t have had without his,or someone else’s,intervention. Where we’re at now is that we have a competitive squad and we exist. We have the same debt we had when he arrived,no more no less, so where exactly is the problem. I was very critical of Koukash when he was running things but I really can’t see the problem here. I agree with Bonitared on this one, I have never been a fan of MK, however unless I am missing something we are 5 years further on from the financial church meltdown. he has written off his debt, which he had little chance of ever getting back.Whatever we think, he has taken a huge chunk of debt from around the club & made the club a more attractive proposition, we are still in super league & seem to be heading in the right direction with fans engaging in the club, if this is the legacy he leaves us with I am happy with the direction we are heading. |
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Post by Deleted on Nov 27, 2018 14:26:37 GMT
FWIW he has helped provide the club with better training facilities and I'd guess helped us sign a player that saved us from possible oblivion and hopefully will provide us some real class on the pitch this season.
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Post by devilsadvocate on Nov 27, 2018 16:53:46 GMT
Can someone please explain how we accumulated 5 million In debt from MK’s tenure. I know he dumped a load of debt on us when he left. We now have the original debt we had when he joined. To lose that amount in a relatively short time smacks of really bad financial management. We had less debt from over 30yrs of JW ownership😳 Why don't you understand this? MK had us running at full salary cap for some time.He paid big money for high profile signings and had to pay the crazy rental deal we have for the ground.The attendances and sponsorship we had had were nowhere near enough to cover this.He also put money into other areas of the club.In addition he paid for Hastings and I would guess pays some of his contract. I do hope this has come up because it allows other investment in the club as previously MK said it was based on us breaking even and we haven't done that this season. |
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Post by hovered64 on Nov 27, 2018 17:15:39 GMT
So MK has w/off his debt even though we didn't break even in 2018... thought this was a pre-requisite ?
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