sellbydate Posted February 28, 2012 Share Posted February 28, 2012 12m on manager changed, looks like Mon did get a psyout to leave afterall despite walking out Looks like Lerner reneged on promises made to O'Neil. Can't think of another reason why Villa could be guilty of constructive dismissal. THEY WEREN'T. That 12m includes getting rid of Houllier and his expensive backroom staff so i can't see why you're attributing any of this to add more fuel to the O'Neill mystery. But didn't O'Neil win his case against Villa? nah it was settled, so no verdict was needed. CI, the doctor said Houllier was ok to carry on, and we cancelled his contract. if that's not true, someone correct me. Link to comment Share on other sites More sharing options...
CI Posted February 28, 2012 Share Posted February 28, 2012 We are totally **** as a club Link to comment Share on other sites More sharing options...
dont_do_it_doug. Posted February 28, 2012 Share Posted February 28, 2012 We are totally **** as a club Nowere near. Stop doom mongering. We knew the wages were way out of sync with income and that the managerial changes and the January spend would have an influence. It's important to remember that we don't owe this money to a bank. Randy is not likely to send the baylifs round to his own gaff. Chill Link to comment Share on other sites More sharing options...
Morpheus Posted February 28, 2012 Share Posted February 28, 2012 Do i see a second Rangers on the horizon? Hopefully not, but Randy has **** up big time with his managerial appointments and it has cost the club dearly. Link to comment Share on other sites More sharing options...
Big_John_10 Posted February 28, 2012 Share Posted February 28, 2012 Getting rid of Houllier ?? The guy had a heart issue, why would we have to pay him off ?? His body gave way how is that the clubs fault That's a good point, he has since admitted he wasn't fit so surely we didn't pay that much too him. Did MON get paid more than we first thought? Link to comment Share on other sites More sharing options...
KHV Posted February 28, 2012 Share Posted February 28, 2012 12m on manager changed, looks like Mon did get a psyout to leave afterall despite walking out Looks like Lerner reneged on promises made to O'Neil. Can't think of another reason why Villa could be guilty of constructive dismissal. THEY WEREN'T. That 12m includes getting rid of Houllier and his expensive backroom staff so i can't see why you're attributing any of this to add more fuel to the O'Neill mystery. But didn't O'Neil win his case against Villa? nah it was settled, so no verdict was needed. CI, the doctor said Houllier was ok to carry on, and we cancelled his contract. if that's not true, someone correct me. Houllier was given the all clear to come back to work in September. The club did not want McCallister in charge until Houllier came back in September they decided to change things so came to a mutual agreement with Houllier and lumbered us with McCockboy and Grant. Link to comment Share on other sites More sharing options...
avfc1982 Posted February 28, 2012 Share Posted February 28, 2012 Do i see a second Rangers on the horizon? Hopefully not, but Randy has **** up big time with his managerial appointments and it has cost the club dearly. Do we owe the taxman £60m then? This thread is getting a bit hysterical. Link to comment Share on other sites More sharing options...
KHV Posted February 28, 2012 Share Posted February 28, 2012 "Given the challenging economic environment that we have been experiencing in the West Midlands and indeed globally, we are pleased with the positive trends in our financial performance," said chief financial officer Robin Russell. Is this guy off his nut???? positive trends in our financial performance my arse, lost £50m and had to borrow another £25m from the Lerner Trust. what a joke. We are the new Everton Link to comment Share on other sites More sharing options...
CI Posted February 28, 2012 Share Posted February 28, 2012 We are totally **** as a club Nowere near. Stop doom mongering. We knew the wages were way out of sync with income and that the managerial changes and the January spend would have an influence. It's important to remember that we don't owe this money to a bank. Randy is not likely to send the baylifs round to his own gaff. Chill But once he's balanced the books won't he look to refinance the debt and just mortgage it all against the club ala Glazier model Link to comment Share on other sites More sharing options...
KHV Posted February 28, 2012 Share Posted February 28, 2012 We are totally **** as a club Nowere near. Stop doom mongering. We knew the wages were way out of sync with income and that the managerial changes and the January spend would have an influence. It's important to remember that we don't owe this money to a bank. Randy is not likely to send the baylifs round to his own gaff. Chill No, but it means we are more than likely stuck with Lerner and McLeish sadly. Anyone wanting to take over Villa would have to pay back the loans to the Lerner Trust which must be way over £100m now and the club is not worth that much. It is a depressing state of affairs Link to comment Share on other sites More sharing options...
CarewsEyebrowDesigner Posted February 28, 2012 Share Posted February 28, 2012 won't someone please think of the children! Link to comment Share on other sites More sharing options...
CI Posted February 28, 2012 Share Posted February 28, 2012 What a cracking week this has been so far Link to comment Share on other sites More sharing options...
dont_do_it_doug. Posted February 28, 2012 Share Posted February 28, 2012 We are totally **** as a club Nowere near. Stop doom mongering. We knew the wages were way out of sync with income and that the managerial changes and the January spend would have an influence. It's important to remember that we don't owe this money to a bank. Randy is not likely to send the baylifs round to his own gaff. Chill But once he's balanced the books won't he look to refinance the debt and just mortgage it all against the club ala Glazier model And my legs might fall off tomorrow. You're worrying about a hypothetical situation. Link to comment Share on other sites More sharing options...
Risso Posted February 28, 2012 Share Posted February 28, 2012 I haven't seen the full accounts yet as they're not on Companies House, but by my quick calculations, a £50m loss when applied to last year's accounts makes us technically insolvent. Way to run a company Lerner. Link to comment Share on other sites More sharing options...
PompeyVillan Posted February 28, 2012 Share Posted February 28, 2012 I haven't seen the full accounts yet as they're not on Companies House, but by my quick calculations, a £50m loss when applied to last year's accounts makes us technically insolvent. Way to run a company Lerner. I look forward to your insights on the situation. Link to comment Share on other sites More sharing options...
Moorski Posted February 28, 2012 Share Posted February 28, 2012 Depressing - What is Faulkner doing as CEO? He should follow McLeish out the door but we can't afford to sack them! Link to comment Share on other sites More sharing options...
Risso Posted February 28, 2012 Share Posted February 28, 2012 Depressing - What is Faulkner doing as CEO? He should follow McLeish out the door but we can't afford to sack them! To be honest, I think a few fingers need to start wagging in the direction of Robin Russell. What on earth has he been doing for the last three years whiles losses of £140m have been made? Link to comment Share on other sites More sharing options...
Dchitz Posted February 28, 2012 Share Posted February 28, 2012 Jesus calm down people and get over the headline. Are many here from a financial background just out of interest, I personally am and given the timing of the annual accounts and whats gone on dont think they look that bad at all having done some maths. Would like to see the actual accounts before commenting further though. Link to comment Share on other sites More sharing options...
dont_do_it_doug. Posted February 28, 2012 Share Posted February 28, 2012 Jesus calm down people and get over the headline. Are many here from a financial background just out of interest, I personally am and given the timing of the annual accounts and whats gone on dont think they look that bad at all having done some maths. Would like to see the actual accounts before commenting further though. Indeed. Furthermore with regards to Risso's earlier comment about us being "insolvent" I think allowances must be made for the fact that we're a football club . I has been almost second nature for these to run at unsustainable losses especially considering the push we made. I also have no idea what Robin Russell has control over but I seriously doubt wages are in his remit. Link to comment Share on other sites More sharing options...
blandy Posted February 28, 2012 Moderator Share Posted February 28, 2012 12m on manager changed, looks like Mon did get a psyout to leave afterall despite walking out The club and MO'N agreed, according to an accountant I know, £1 million as a settlement, mutually negotiated. MO'N and the club came to whatever agreement AFTER May - just before he took over at Sunderland. So logically whatever amount was agreed on, would not be in those figures. Ditto the McLeish compo, which I was told was nowhere near the 5 million reported, and which was also after may. Without seeing details, or knowing how right my friends were, it looks like that 12 million is for Houllier and McAllister and the other people who left (MO'N's "team" basically Wigley, Robertson etc.). But Christ on a bike, we go on about player wages, and Managers should be included in that too. Ridiculous. And unless there's been some bean counter-shuffling there's going to be more of the same in the next accounts to cover whatever Small Heath got for McLeish and O'Neill got and then more for McLeish when he inevitably gets potted for being rubbish. Link to comment Share on other sites More sharing options...
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