If it was the directors debt then surely it would not be very good reading.They must be losing money by the bucket load every week because the overall debt is getting bigger.

Don't be silly

Quite the opposite, If it's owed to the directors they have direct control of when,if or how the debt is repaid. If it's owed to someone else you don't get that choice.

Absolutely, which is why its always better to owe money to your directors/shareholders than to a bank.

I see.....But in the long term and with the debt getting bigger how do the directors get their money back and still keep the club afloat?.I can't see that they will ever get 10,000 plus crowds,which they have never had in their history,plus big sponsorship to turn the debt around?.

It is a '[iqualified opinion arising from disagreement over accounting treatment[/i'.

It also overstates Fixed Assets by something to the order of around 75%.

What does it state these fixed assets at? What are the fixed assets? How do you know it overstates them? I'm interested to know?

To be honest, I think the chances of the 'investment' ever being recouped in full are slim to vanishing. I know it is on a different scale, but do you think Abramovich expects to ever get a financial return on Chelsea?

Keeping the club afloat and maybe turning a modest profit have to be the realistic ambitions. Hudgell has said the board are committed to financially supporting the club through 2010 at least, beyond that a different model might have to be adopted. An upturn in the economy and the potential for improvement on the retail side of things could help, as would any largesse from local stakeholders. Bringing through a few young, local and cheaper players to gradually replace some of the big earners brought in to make us competitive quickly would help cut costs. It won't be easy - as evidenced by the 10 other SL clubs running sizeable deficits. Of the other 3, Bradford's transition hasn't been altogether painless and you have to wonder how much Hull's financial success is down to business acumen (I'd be the first to admit some of it is, btw) and how much due to the KC falling in their lap. Leeds, being bigger than most of their rivals have an inbuilt advantage - just the way it is. So, in theory, should Wigan though.