01 Feb 2019 15:21:33
Ed. do you think we are that skint that we couldn't afford the initial down payment? . that's a big worry if we couldn't get 1.5mil together? . lots of things flying about from both sides and it's who to believe? . cheers.

{Ed001's Note - not sure you are skint. I think it is more that you have a poor credit rating from previous owners which makes it difficult to get the short term loans clubs tend to use to fund transfers. Clubs do not sit with large cash reserves ready to stick in a carrier bag for a transfer, so they usually get a short term loan which is paid back from income.

I will have to see if I can find the explanation of how it works my friend once gave me. She was a decision maker at a finance company that worked with Spurs and other clubs, to provide those short term loans. They did other things too, but she worked purely on that side of things and, when she got married, because her hubby didn't like her to continue to talk to old erm friends, she typed me up a full explanation. I will dig through my files and see if I can find it.}


1.) 01 Feb 2019
01 Feb 2019 15:45:42
Ok, thanks. I would have thought we would have that amount without having to borrow it, and if that’s the case, unless we get out of this league or sell players whilst in this league it’s going to be hard for us to get any new players?

{Ed001's Note - no club in European football, that I am aware of, carries that amount of cash in the bank, other than Arsenal. And that is more for Kroenke's own devices, as he uses that as leverage to borrow against. You are right, though maintaining full houses would bring in the money, and give something for the club to leverage for a loan in the future.}


2.) 02 Feb 2019
01 Feb 2019 20:36:11
I know I'm old and feeble-minded but if there's nothing in the bank accounts where's all the money?

{Ed001's Note - like most businesses in the UK, clubs run on an overdraft. Money coming in is usually going straight back out paying salaries, back payments on transfers, agent fees, electricity bills etc. Clubs (as do most businesses) leverage future income to pay for things like transfers, then pay back the loans afterwards. It does not seem the best way of conducting business to me, but it is the way the Western world does it. Speculate to accumulate, rather than saving up and paying for it when you have it in hand.}