Doncaster speaks

"“The facts don't bare (sic) that out,” said Doncaster. “In the past we have had to sell the likes of Darren Eadie, Craig Bellamy and Chris Sutton just so the club can stay afloat."

Not so sure about that. The "facts" concerning the club's finances before and during Doncaster's time are not encouraging:
1. The club has consistently spent millions more than it has earned. This is not a problem created by Doncaster - after all he took over as we were having a share issue to bail the club out after it spent revenues from ITV Digital before they were due, and which it never subsequently received.
2. Since Chase departed debt has increased from £8 million to £20 million. Without conversions of debt to equity, share issues, and a large legacy that figure would be way in excess of £30 million. The only reason we are not in the position of HAVING to sell players is the largesse of the Turners. But who knows how much liquid cash they are able or willing to pump into a loss-making enterprise.

Some specific examples:

3. In 2004/05 we made a profit. Yet by 17th January 2006 the club's position was so parlous that it could afford neither the wages nor the £50,000 for Carl Robinson. 5 days later Dean Ashton was sold.
4. Despite spending less than half the Ashton fee on Earnshaw, and subsequently spending just another £600,000 of it on Croft by the end of August 2006 we had to sell Leon to finance the £1.5 million "signing" of Cotterill.

In the accounts last year Leon Blackburn made it clear that assets would be sold if promotion were not achieved in 2006/07. Thanks to the Turners we may have avoided that this year (although we HAVE sold two of our biggest assets).

It's legitimate to ask how we can have added a Championship winning side in 2004, yet by 2007 find ourselves with a mid-table side. Just where DID the money go?

Posted By: Creosote Ah Um on July 17th 2007 at 14:47:40

Message Thread

Doncaster speaks (NCFC) - Creosote Ah Um, Jul 17, 14:47:40
- we did also give a rather hefty wedge to the taxman (NCFC) - megson, Jul 17, 15:40:17
  - The reason it's "oft overlooked" (NCFC) - Creosote Ah Um, Jul 17, 18:19:08
    - er actually according to the accounts (NCFC) - megson, Jul 18, 09:09:37
  - I doubt we did (NCFC) - mr carra, Jul 17, 15:58:21
- The 2003/4 Championship team... (NCFC) - mr carra, Jul 17, 14:57:58
  - it didnt help waiting until January to fork out 3 million quid on a striker... (n/m) (NCFC) - phrankin, Jul 17, 15:06:40
    - even that came from the next season's parachute money though (NCFC) - mr carra, Jul 17, 15:08:39
  - And more debt (n/m) (NCFC) - Old Git, Jul 17, 15:02:07
    - isn't that just a consequence of football inflation? (NCFC) - mr carra, Jul 17, 15:04:47
  - Svenny was bought in when we were top of the league I believe (n/m) (NCFC) - Brom, Jul 17, 14:59:05
    - yes he was (NCFC) - mr carra, Jul 17, 15:00:36
- our "financial prudence" leaves alot to the imagination! (n/m) (NCFC) - Alan, Jul 17, 14:52:26
  - impossible job innit? (NCFC) - mr carra, Jul 17, 14:59:54
    - our biggest problem was... (NCFC) - Alan, Jul 17, 15:14:00
      - you can't blame them though (NCFC) - mr carra, Jul 17, 15:28:54
      - That wasn't a problem. You always have to have faith in your manager and, (NCFC) - Steve in Holland, Jul 17, 15:21:17
        
        the warning signs where there... (NCFC) - Alan, Jul 17, 15:26:36
        
        Yes, but.... (NCFC) - Steve in Holland, Jul 17, 15:33:14

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