DubaiSpur
Ian Walker
All the same reasons why I support the same club. With regards to accumulating cash and having large profits year on year, I can honestly say from reading the accounts that this is not what we are doing. Yes last year showed a large profit, but all of this profit (and then some) has been ploughed back into the stadium. You can see this from the assets under construction. The anomalies of accounting will mean that these don't appear on our profit or loss until they are complete and then they will be depreciated over the life of that asset. Believe me, I would not be happy if I felt that the owners of the club were hoarding cash and not reinvesting. This is why I am content bubbling around 5th or 6th, because this is as good as we are going to get until we can financially compete with the big boys. Then we will see some epic signings, and see us really challenge.
Perhaps, but we've also made a 56 million pound profit in transfers over the last five years. That's possibly been ploughed into the stadium as well...but our chairman promised us that wouldn't happen, and that the transfer funds (whatever funds were available, anyway) would be ring-fenced from the stadium development.
It isn't the greatest sin in the world, but I'd like the more determined supporters of our chairman on the forum to at least admit that he does lie or otherwise misinform the fans occasionally on matters like this. Clearly we've been funding our stadium in part through our transfers, when it should (if the plan had been followed) have been funded by the naming rights deal, loans and 'outside investors' (the chairman's words here).