Interesting post from Mick Dennis on the Pinkun

The ?10m extra was the figure stated publicly by chairman Bowkett at the end of season dinner. He said that the playing budget would be increased by ?10m for 2012-13 and by another ?10m for 13-14 (if we are still in the PL then). Bear in mind that the kitty is for player purchases AND wages. Our top earning players are on ?15k a week (?780k p.a.). So ?10m would (for instance) buy 5 players at ?1m each and cover their wages (with a few quid to spare). One central fallacy during Cullum-gate was the assumption that his ?20m could be spent on transfers. In fact it would also have had to cover the wages of the new signings for as long as they were at NCFC. Another inconvenient truth, undisclosed by his supporters, was that the offer was actually ?5m in the December transfer window (fees and wages, remember) with another ?15m if we'd stayed up that season. If we'd gone down, he wanted his ?5m back -- and we'd have gone into administration. We'd probably have gone bust anyway, because he had no plausible plan to deal with the debts. The current plan sees us only owing money to Delia and Michael Foulger within two years. Nothing in my piece on the Waghorn site was guessed at. OTBC.

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Posted By: phrankin, Jun 2, 11:55:05