Todays club statement!

[Mickeyzee]

http://bit.ly/LUFC-2402


This is massive news!

Football is all about money. To reduce annual debt by 91% is just short of breathtaking. By reading this statement issued today it seems we are finally on a stable and strong financial footing for the 1st time in probably 15 years!

This is without doubt the most important news this season for me. We can now add players within our financial capability of real quality. I'm not talking Rhodes 9 million types, as thats still out of our reach, unless MC reaches into his own pocket.

I am genuinely excited about the prospects for next season now. We seem to have a strong defensive unit at the minute. we just need some creativity and flair up top. We can now invest in that!

This by no means me jumping at the "MC is a god" or anything like that but you all have to admit, the man is a very clever business man and for all his crazy stunts and outbursts, he is probably just what we needed to sort out our number 2s. I will be happy for him now to sell up

I would hope now this is public for the world to see, a new buyer will come forward as LUFC has now become a very attractive project indeed!

Mick

[Sheepy]

It all reads encouraging, and I do think this is a bit of positive propaganda to perhaps sell the club at a fee more suited to what MC wants.

[NottinghamWhite]

I'll wait till someone can tell me in black and white whether it's good or bad. Don't forget you've the Ross McCormack fee in those figures.

[Sheepy]

Thing is, debt gets moved around, so we appear not to owe anything or X amount, but in actual fact it gets owed elsewhere:

The accounts show that Eleonora Immobiliare SpA, parent company of Eleonora Sport Limited, has injected capital totalling £42.96m into the Group

So that 42.96m won't be a gift, it will be owed to Eleonora Immobiliser SpA....

I'm no accountant though so don't listen to me, I'm sure if it was bad news the club wouldn't mention it, lets hope if the club is just trying to put a positive spin on things its not easily picked to pieces by those in the know.

[massimomilitia]

Liked the statement but ready someone to try and make it look bad.

[Deleted User 2747]

I'll wait till someone can tell me in black and white whether it's good or bad.

-Me too, I've been caught out too many times before with LUFC!

Don't forget you've the Ross McCormack fee in those figures.

And wages for managers that are on 'gardening leave'!

[NottinghamWhite]

Let's not forget GFH I'm sure they'll want their pound of flesh.

[rss1969]

Also a chunk of debt converted into shares, turnover down, gates down and player and staff wages higher than some had predicted.

It could be good news and at least there is a statement about spending more on the team.............lets see if it bears fruit.

[TezzaWazzaBazza]

From these figures it has to be acknowledged that Cellino has done an excellent job. This is the sort of foundation you must have to build a sustainable club. I'm glad this was done before splashing out on players. The summer will tell us if we're really on the right track.

[Deleted User 2299]

Accounts can be changed to suit. I will make my mind up on the actions we do, and nothing has changed my mind Cellino is sucking off Leeds while talking the talk. time will tell?, time has told me.