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, Jul 17, 14:47:40