Today is a Good Day
Fri Jan 08, 2010 6:32 pm
On the face of it, it may seem as if we are lurching from one crisis to another, and whilst that is true in a lot of ways, the bigger picture is perhaps a little more positive, strange though that may seem.
If anyone were still in any doubt as to the lies, deceit & incompetence Peter has relentlessly demonstrated throughout his entire footballing and business career, not just at Cardiff, surely now even they cannot be in doubt anymore? More importantly, the Malaysians certainly see him for what he is and also see the perilous state of our finances. That Peter somehow believed due dilligence would not pick this up is yet more proof of his bewildering incompetence. Peter has attempted to put his own interests above the clubs and tried to negotiate a job at the helm for 3 years should the Malaysians take over, and also get top whack for the abundant shares he has in the club at 45p per share. Fortunately, it would appear the Malaysians are now bypassing Ridsdale and speaking directly to Messrs Guy & Hall. It seems he isn't quite as imperative to the takeover as he tried to make us believe.
Due to the shocking state of our finances, not entirely helped by Peter's decision to borrow & spend over £6m (30%)of next seasons money this season, nor to operate with a huge wage bill that swallows up most of our turnover at source, the price is likely to be nearer a quarter of that at around 10-12p. That is good news for the club as it leaves more disposable income to invest in the team/ club, rather than it being tied up in securing the club. They will also need to find at least £10m to subsidise the operating loss we will make next season, so the money will come in handy! I say at least because were we to keep to the agreement with Langston to avoid a £1m per year fine, £10m needs to be found by next year to pay them alone, so it could be a lot more than that bearing in mind we would make a loss even with the £6m Peter has spent from next years budget, before factoring in any debt to a list of substantial creditors.
It is also clear that Peter Ridsdale's position is, albeit rather belatedly, now untenable. That should be joyous news to every Cardiff fan in the land. Yes, he has done some good for us, nowhere near as much as he portrays, but he has done some good. However, the damage he has done, predominanty to our finances, is astounding and gross incompetence of the highest order. His constant deciet and lies that the more impressionable among us believe is also a sad reality of his reign. I don't think he does what he does deliberately, certainly not at Leeds as he is a passionate Leeds fan, he is merely a chancer bereft of a grasp on reality and actually a genuinely very nice man. Unfortunately, being a jolly good fellow cuts little ice in such an industry where competent performance and results are the only requirement.
Despite the potential for positves, quite a few more twists and turns remain. Even I would be surprised should we not find the money to pay HMRC, thus lifting the embargo in place. Then we can sell a player or 2 so Peter can "keep his promise" by signing some players and paying the odd bill perhaps. Quite how the £1.2m per month wage budget will be paid thereafter without any income until the summer is a mystifying conundrum, unless of course the takover happens as can only be hoped. As I have said many times before, if this investment doesn't happen, make no mistake, we will be in administration long before the end of the season and it is something the Malaysians know only to well and will likely use to threaten the club in their strategy to get the club at the price they want. Who can blame them, quite frankly I hope they do get their wish as it will benefit CCFC.
A word of caution on the Malaysians, of course we are dreaming of the takeover and desperately hope it happens, but to believe they are the best thing since sliced bread and is a deal devoid of risk would be almost as naive as believing Peter is our saviour. The amount of takeovers that have caused more trouble than they solved are piling up, Portsmouth, Notts County, Liverpool, Newcastle and so many more, but due to howbadly CCFC has been run for so long, it is hard to see the potential takeover as anything other than a lifeline. Quite simply, it is our only hope, let us hope they are more akin to Carsen Yeung at Birmingham rather than Mike Ashley. We've been through an ordeal and are likely to go through a bit more yet, but things could be about to get a lot better, we just need to endure a bit more pain before hopefully the pleasure follows.
If anyone were still in any doubt as to the lies, deceit & incompetence Peter has relentlessly demonstrated throughout his entire footballing and business career, not just at Cardiff, surely now even they cannot be in doubt anymore? More importantly, the Malaysians certainly see him for what he is and also see the perilous state of our finances. That Peter somehow believed due dilligence would not pick this up is yet more proof of his bewildering incompetence. Peter has attempted to put his own interests above the clubs and tried to negotiate a job at the helm for 3 years should the Malaysians take over, and also get top whack for the abundant shares he has in the club at 45p per share. Fortunately, it would appear the Malaysians are now bypassing Ridsdale and speaking directly to Messrs Guy & Hall. It seems he isn't quite as imperative to the takeover as he tried to make us believe.
Due to the shocking state of our finances, not entirely helped by Peter's decision to borrow & spend over £6m (30%)of next seasons money this season, nor to operate with a huge wage bill that swallows up most of our turnover at source, the price is likely to be nearer a quarter of that at around 10-12p. That is good news for the club as it leaves more disposable income to invest in the team/ club, rather than it being tied up in securing the club. They will also need to find at least £10m to subsidise the operating loss we will make next season, so the money will come in handy! I say at least because were we to keep to the agreement with Langston to avoid a £1m per year fine, £10m needs to be found by next year to pay them alone, so it could be a lot more than that bearing in mind we would make a loss even with the £6m Peter has spent from next years budget, before factoring in any debt to a list of substantial creditors.
It is also clear that Peter Ridsdale's position is, albeit rather belatedly, now untenable. That should be joyous news to every Cardiff fan in the land. Yes, he has done some good for us, nowhere near as much as he portrays, but he has done some good. However, the damage he has done, predominanty to our finances, is astounding and gross incompetence of the highest order. His constant deciet and lies that the more impressionable among us believe is also a sad reality of his reign. I don't think he does what he does deliberately, certainly not at Leeds as he is a passionate Leeds fan, he is merely a chancer bereft of a grasp on reality and actually a genuinely very nice man. Unfortunately, being a jolly good fellow cuts little ice in such an industry where competent performance and results are the only requirement.
Despite the potential for positves, quite a few more twists and turns remain. Even I would be surprised should we not find the money to pay HMRC, thus lifting the embargo in place. Then we can sell a player or 2 so Peter can "keep his promise" by signing some players and paying the odd bill perhaps. Quite how the £1.2m per month wage budget will be paid thereafter without any income until the summer is a mystifying conundrum, unless of course the takover happens as can only be hoped. As I have said many times before, if this investment doesn't happen, make no mistake, we will be in administration long before the end of the season and it is something the Malaysians know only to well and will likely use to threaten the club in their strategy to get the club at the price they want. Who can blame them, quite frankly I hope they do get their wish as it will benefit CCFC.
A word of caution on the Malaysians, of course we are dreaming of the takeover and desperately hope it happens, but to believe they are the best thing since sliced bread and is a deal devoid of risk would be almost as naive as believing Peter is our saviour. The amount of takeovers that have caused more trouble than they solved are piling up, Portsmouth, Notts County, Liverpool, Newcastle and so many more, but due to howbadly CCFC has been run for so long, it is hard to see the potential takeover as anything other than a lifeline. Quite simply, it is our only hope, let us hope they are more akin to Carsen Yeung at Birmingham rather than Mike Ashley. We've been through an ordeal and are likely to go through a bit more yet, but things could be about to get a lot better, we just need to endure a bit more pain before hopefully the pleasure follows.
Re: Today is a Good Day
Fri Jan 08, 2010 7:49 pm
Good post Salad and well said on so may counts.
For my own part my thought is that the investment may not come from the far eat. Maybe we should be looking a little closer to home and maybe a little further south of these isles for out investment.
Other than that can't disagree to anything you say mate
For my own part my thought is that the investment may not come from the far eat. Maybe we should be looking a little closer to home and maybe a little further south of these isles for out investment.
Other than that can't disagree to anything you say mate
Re: Today is a Good Day
Sat Jan 09, 2010 5:21 am
Cheers Croesy, there does seem to be an increasing line of thought that other peope may be interested. One thing is for sure, Peter is not as imperative to the proposed investment as he was and is trying to make out. No surprises there then.
Re: Today is a Good Day
Sat Jan 09, 2010 8:37 am
saladthedragon wrote:Cheers Croesy, there does seem to be an increasing line of thought that other peope may be interested. One thing is for sure, Peter is not as imperative to the proposed investment as he was and is trying to make out. No surprises there then.
salad, ithink that peters days are now numbered, the untruths that has become an almost daily event has now become a joke, you cannot run any business like that nowadays. i only hope that we do not miss out on the playoffs or 2nd place because of a points deduction, that would be more heartbreaking than last year
positive attitutes are needed by all, lets get behind our team today,
baz
Re: Today is a Good Day
Sat Jan 09, 2010 9:20 am
Ridsdale's days numbered ? I hope so, but not so sure. He WILL no go voluntarily that's for sure. He is a man with a big ego. He will argue withing the corridors of CCFC that any deal with outside personnel would be put in jeopordy if he is removed, and that will put the wind of the other scumbags and leeches who want as much as they can for their shares.
My prediction ? God knows.
My prediction ? God knows.