Here's the webchat I was referring to:

Note the lack of denial to what, when you think about it, was quite an accusation:

User Posted Link

Q: Nicholas Mead

"In January 2006 despite having benefited from two successful share issues and the rewards of a year in the Premiership the Club had neither the funds to pay the ?50,000 transfer fee for Carl Robinson or to pay his wages, it had to borrow from the directors. That doesn't sound like prudent management of the finances to me. What do you think?"

Neil: "I'm conscious that a lot of these questions demand lengthy answers and I want to give as many people as possible the chance to answer. Briefly therefore, you seem to be suggesting that we should have been spending less on players in the Premier League than we did. We bought Dean Ashton in January 2005 for a Club record fee in a calculated gamble to try and stay up. That gamble failed. However, I believe that pushing the boat out at that time was the right thing to do. If you are suggesting that we should have spent less in the Premier League in order to spend more following relegation, then I do not agree."

Posted By: thebigfeller, Aug 17, 02:45:39