Quote: Septimius Severus "I am no financial wizard, but I will still chuck in my penn'orth on the basis that it might help someone.
If DB has invested £1.5M in the fantastic venture that is Leigh Leopards, at the moment DB cares not if he see's that money again. In that sense it is Derek's gambling stake.
IMG on the other hand want the Club to be run on a professional basis, with a financial structure including Long term liabilities and short term liabilities. In that sense any money invested by DB can be re-packaged into long and short term loans as required in the IMG strategy.
If Derek decides one day to throw his toys out of the pram, or alternatively has a near death experience out on safari, the club can be sold or refinanced more easily. It is Derek's money and Derek's club and he can collect on his loans or not, but it futureproofs the Club in an emergency.
If you want to look at what can happen, look no further than Eddie Davies (Bolton Wanderers). Davies revoked his investment in the club. This led to published debts of almost £200m and brought the club very close to being wound up over unpaid tax bills owed to HMRC. As a gesture of his goodwill and as incentive to sell the club, Davies promised to wipe over £125m of debt owed to him when the club was sold, which wiped a significant proportion of debt the club owed.
IMG are merely trying to support better financial management in a sport famous for not being able to manage it's own finances.'"
Your comments may be correct.If its a question of simply kicking the debt down the road then it casts even more doubt on the IMG reimagining process.
Stains have debts to mcmanus and his mates in the city. Lenegan had to call a halt at pies.Take that tour keeping wire going.
Davies called a halt at Bolton didn't write all the debt of though did he. Bolton still not recovered haven't they recently sent cap round to the speccies.
We are likely paying some players more than anyone at Bolton is on.
I have been pessimistic about Rl for some time.They report participation is up though cant really see the evidence.
One positive I did see was the interview with Phil Gould on You Tube sorry dont know how to post link Bloke in a bar think it was called
