pozbaird Posted December 13, 2022 Share Posted December 13, 2022 2 minutes ago, NorthBank said: How do you work that out? The difference between 7th and 11th is half a million. So if we do not make 7th we are in debt going into the following season. Do we gamble again and maybe lose another half million or try and reduce our costs by paying less and attracting poorer players? Your formula seems to be we keep gambling in the hope that it some stage it pays off. My philosophy is we build up a warchest before we start a 'gamble'. And for the record the following Scottish Clubs have all entered Administration since 2000 - Queens Park Morton Clydebank Airdrie Motherwell Dundee (twice) Livingston (twice) Gretna (out of business) Rangers Dunfermline Hearts Those that survived had a sugar daddy bail them out. We don't but we could sell the Club with all the risks that entails. Or play in the Lowland League. Rangers suffered more than administration. Please amend your post. 3 Quote Link to comment Share on other sites More sharing options...
NorthBank Posted December 13, 2022 Share Posted December 13, 2022 2 minutes ago, pozbaird said: Rangers suffered more than administration. Please amend your post. Duly noted 2 Quote Link to comment Share on other sites More sharing options...
Mordecai Posted December 13, 2022 Share Posted December 13, 2022 34 minutes ago, NorthBank said: How do you work that out? The difference between 7th and 11th is half a million. So if we do not make 7th we are in debt going into the following season. Do we gamble again and maybe lose another half million or try and reduce our costs by paying less and attracting poorer players? Your formula seems to be we keep gambling in the hope that it some stage it pays off. My philosophy is we build up a warchest before we start a 'gamble'. If we're using money that we currently have in the bank (allegedly) is that not what we're essentially doing just now? 0 Quote Link to comment Share on other sites More sharing options...
aldo_j Posted December 13, 2022 Share Posted December 13, 2022 11 hours ago, Arch Stanton said: https://www.dailyrecord.co.uk/sport/football/football-transfer-news/scott-robertson-set-celtic-transfer-28713103 Interesting one. 21, not really featured for Celtic but circa 50 games at League 1 level in England. Guessing it’s a potential Baccus/Ethan replacement if they go in Jan. 1 Quote Link to comment Share on other sites More sharing options...
NorthBank Posted December 13, 2022 Share Posted December 13, 2022 15 minutes ago, Mordecai said: If we're using money that we currently have in the bank (allegedly) is that not what we're essentially doing just now? Probably yes for maybe last season and this season. An approach with little risk but not sustainable unless we can keep building the warchest. Last season we did not reach the position we budgeted for and had a loss of £120k on League position. This season we budgeted for 7th but had a substantial loan from the Government (which some has to be paid back each season) plus a substantial outlay for Ralston which turned out way over budget. Hence a lot of talk about dodgy finances losing £1.7m in 1 year and wanting to offload/sell players in January. We have allegedly £1m in the bank which should not be used to gamble with (need a new 'dome' etc etc). Further squad strengthening should be on player sales, cup runs and league positions all of which are gambles. If they pay off then invest in the squad. If they don't we are still sustainable. Don't gamble what you cannot afford to lose. 0 Quote Link to comment Share on other sites More sharing options...
SS77 Posted December 13, 2022 Share Posted December 13, 2022 1 hour ago, NorthBank said: How do you work that out? The difference between 7th and 11th is half a million. So if we do not make 7th we are in debt going into the following season. Do we gamble again and maybe lose another half million or try and reduce our costs by paying less and attracting poorer players? Your formula seems to be we keep gambling in the hope that it some stage it pays off. My philosophy is we build up a warchest before we start a 'gamble'. And for the record the following Scottish Clubs have all entered Administration since 2000 - Queens Park Morton Clydebank Airdrie Motherwell Dundee (twice) Livingston (twice) Gretna (out of business) Rangers (out of business) Dunfermline Hearts Those that survived had a sugar daddy bail them out. We don't but we could sell the Club with all the risks that entails. Or play in the Lowland League. We have a million quid in the bank - we’re not going to go bust by spending half of that (if it even is half of it that we’ve spent). Budgeting for a higher place for 2 years when you’ve got money in the bank is a risk worth taking IMO. 1 Quote Link to comment Share on other sites More sharing options...
SS77 Posted December 13, 2022 Share Posted December 13, 2022 (edited) 15 minutes ago, NorthBank said: Probably yes for maybe last season and this season. An approach with little risk but not sustainable unless we can keep building the warchest. Last season we did not reach the position we budgeted for and had a loss of £120k on League position. This season we budgeted for 7th but had a substantial loan from the Government (which some has to be paid back each season) plus a substantial outlay for Ralston which turned out way over budget. Hence a lot of talk about dodgy finances losing £1.7m in 1 year and wanting to offload/sell players in January. We have allegedly £1m in the bank which should not be used to gamble with (need a new 'dome' etc etc). Further squad strengthening should be on player sales, cup runs and league positions all of which are gambles. If they pay off then invest in the squad. If they don't we are still sustainable. Don't gamble what you cannot afford to lose. Also - we might have lost out on £120k of league prize money but we made a lot more than that from McGrath to Wigan + Goodwin and Sharp going to Aberdeen. Edited December 13, 2022 by SS77 0 Quote Link to comment Share on other sites More sharing options...
Steven Glansberg Posted December 13, 2022 Share Posted December 13, 2022 1 hour ago, NorthBank said: How do you work that out? The difference between 7th and 11th is half a million. So if we do not make 7th we are in debt going into the following season. Do we gamble again and maybe lose another half million or try and reduce our costs by paying less and attracting poorer players? Your formula seems to be we keep gambling in the hope that it some stage it pays off. My philosophy is we build up a warchest before we start a 'gamble'. And for the record the following Scottish Clubs have all entered Administration since 2000 - Queens Park Morton Clydebank Airdrie Motherwell Dundee (twice) Livingston (twice) Gretna (out of business) Rangers (out of business) Dunfermline Hearts Those that survived had a sugar daddy bail them out. We don't but we could sell the Club with all the risks that entails. Or play in the Lowland League. Comparing us to the likes of Gretna and Clydebank when you don't have any proper insight to the club finances is one hell of a stretch. These arguments are just going round in circles at this point. 0 Quote Link to comment Share on other sites More sharing options...
Bobby Boulders Posted December 13, 2022 Share Posted December 13, 2022 Hey, at least we don’t have to pay the players a wage over the Summer. 2 Quote Link to comment Share on other sites More sharing options...
NorthBank Posted December 13, 2022 Share Posted December 13, 2022 1 hour ago, Steven Glansberg said: Comparing us to the likes of Gretna and Clydebank when you don't have any proper insight to the club finances is one hell of a stretch. These arguments are just going round in circles at this point. Who is comparing St Mirren directly to Gretna and Clydebank? The list was all the Clubs in the top levels of Scottish who speculated and lost going into administration - 13 clubs in 22 years). Gretna and Clydebank went totally bust. The others had sugar daddies who bought into the Club to pay off their debts. We don't have a sugar daddy. And the finances are available in the accounts. Try reading them. 0 Quote Link to comment Share on other sites More sharing options...
NorthBank Posted December 13, 2022 Share Posted December 13, 2022 (edited) 1 hour ago, SS77 said: We have a million quid in the bank - we’re not going to go bust by spending half of that (if it even is half of it that we’ve spent). Budgeting for a higher place for 2 years when you’ve got money in the bank is a risk worth taking IMO. Yea, we have £1m in the bank. And have to pay back nearly £100k per season for the next 19 years to the Scottish Government. And we are having to budget for a replacement indoor facility to replace the Dome. And you don't know when emergencies will arise like COVID, the under soil heating needing to be replaced or floodlights or screens etc etc. Why do you think the manager and Chairman are saying that we have to get rid of players in January? Maybe because we have reached a limit that we are not comfortable with? In 2006 we had a debt of £1.6million which we couldn't pay off and no bank would lend to us. Fortunately Tesco came to our rescue as we were heading towards being bust. Edited December 13, 2022 by NorthBank 1 Quote Link to comment Share on other sites More sharing options...
Squonk Posted December 13, 2022 Share Posted December 13, 2022 I'm surprised by the level of concern about finances, budgets, risks and debt debated on this thread. Surely recent history has clearly demonstrated that only a meaningless, expendable, replaceable operating company is at risk of insolvency, while the entirely separate and unconnected football club that is St Mirren FC would be immune from administration and liquidation. Debts would be wiped out overnight leaving the football club to march forward with its history intact, ready to attach itself leech-like to another meaningless off-the-shelf company, ready to repeat the process. What's not to like? 3 Quote Link to comment Share on other sites More sharing options...
ZingaliMan Posted December 13, 2022 Share Posted December 13, 2022 58 minutes ago, NorthBank said: Yea, we have £1m in the bank. And have to pay back nearly £100k per season for the next 19 years to the Scottish Government. And we are having to budget for a replacement indoor facility to replace the Dome. And you don't know when emergencies will arise like COVID, the under soil heating needing to be replaced or floodlights or screens etc etc. Why do you think the manager and Chairman are saying that we have to get rid of players in January? Maybe because we have reached a limit that we are not comfortable with? In 2006 we had a debt of £1.6million which we couldn't pay off and no bank would lend to us. Fortunately Tesco came to our rescue as we were heading towards being bust. Let's hope we don't get relegated any time soon with us being a yooyoo club. Paying out £100,000 a year above all other costs in the Championship will make it extremely hard if near impossible to get out of the championship. Just ask Stuart Gilmour. 0 Quote Link to comment Share on other sites More sharing options...
medals Posted December 13, 2022 Share Posted December 13, 2022 24 minutes ago, ZingaliMan said: Let's hope we don't get relegated any time soon with us being a yooyoo club. Paying out £100,000 a year above all other costs in the Championship will make it extremely hard if near impossible to get out of the championship. Just ask Stuart Gilmour. Have the bookies got us getting relegated or am I missing something - they are not often wrong. So away and don't be so silly. We will end up with extra money from this season... but I'd bet there will still be doom mongers next season too. 0 Quote Link to comment Share on other sites More sharing options...
smellthepaw Posted December 13, 2022 Share Posted December 13, 2022 3 hours ago, SS77 said: Also - we might have lost out on £120k of league prize money but we made a lot more than that from McGrath to Wigan + Goodwin and Sharp going to Aberdeen. And we have coined in around that for Baccus featuring at the WC 2 Quote Link to comment Share on other sites More sharing options...
ZingaliMan Posted December 13, 2022 Share Posted December 13, 2022 5 minutes ago, medals said: Have the bookies got us getting relegated or am I missing something - they are not often wrong. So away and don't be so silly. We will end up with extra money from this season... but I'd bet there will still be doom mongers next season too. Yes you are missing the point. Go check our history from the 60's to present day then you might just get the point. 0 Quote Link to comment Share on other sites More sharing options...
medals Posted December 13, 2022 Share Posted December 13, 2022 1 minute ago, ZingaliMan said: Yes you are missing the point. Go check our history from the 60's to present day then you might just get the point. So your living in the past. And I'll bet when we announce a profit instead of saying your were wrong, you'll claim it was all down to SG. Have the club not already stated that they have a plan to manage things to balance this seasons costs - or don't you believe them? 0 Quote Link to comment Share on other sites More sharing options...
Arch Stanton Posted December 13, 2022 Share Posted December 13, 2022 1 hour ago, NorthBank said: Who is comparing St Mirren directly to Gretna and Clydebank? The list was all the Clubs in the top levels of Scottish who speculated and lost going into administration - 13 clubs in 22 years). Gretna and Clydebank went totally bust. The others had sugar daddies who bought into the Club to pay off their debts. We don't have a sugar daddy. And the finances are available in the accounts. Try reading them. They didn't. They sold their only asset, their league registration, to the men behind Airdrie United's failed bid to enter the SFL. The club was then relocated to the Excelsior Stadium and renamed Airdrie United. 3 Quote Link to comment Share on other sites More sharing options...
SS77 Posted December 13, 2022 Share Posted December 13, 2022 47 minutes ago, ZingaliMan said: Let's hope we don't get relegated any time soon with us being a yooyoo club. Paying out £100,000 a year above all other costs in the Championship will make it extremely hard if near impossible to get out of the championship. Just ask Stuart Gilmour. It’s £88k a year we’re paying back - it’s hardly going to cripple us. 0 Quote Link to comment Share on other sites More sharing options...
ZingaliMan Posted December 13, 2022 Share Posted December 13, 2022 When we get relegated £88,000 a year would do serious damage to the club are you seriously saying it would not ? Are you a new supporter to the club or a very young man ? 0 Quote Link to comment Share on other sites More sharing options...
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