| Where has the money gone? 03:01 - Feb 3 with 10340 views | mattyboy32 |
This is my first post on this site and with recent evens wanted to know where fans think the money we have earned from are transfer dealings over the years have gone. Personally I think this little quote about mr.leviens acquisition sums it all up.
“In 2012, Erick Thohir and Jason Levien purchased the club and its holding company, with Chang remaining as a minority investor. Their efforts are primarily focused on getting United a new stadium and enhancing the four-time MLS champions”
We were never the club going to the next level we were just the piggy bank in this scheme. Their new stadium would cost over $400 million with them funding about $100million and rest would be loaned to them by city of dc. These talks for this deal started in January 2015 so how would a club loitering round the lower end of the mls afford this. So Levien got some investors to help get a relatively cheap club in the richest league in the world and then feed them lies for a tidy income machine
The yanks have always wanted money they got data analysis to help them find players to flip for profit so it could be used through loopholes in the system to benefit dc united. Now we have been relegated thy are just asset stripping to fund dc united. Is it a coincidence in August this year Levien bought the rest of thonirs ownership and appointed Kaplan as a co-chairman and announced that theonsortium that bought us as the new ownership group.
It seems so funny how this has all happened in a short period of 4 years and we never seen any high profile signings like Wayne Rooney or investment in the stadium to the level of dc united and no signs or messages from the owners because they don’t give a monkey about us.
I think we should not chant to get rid of these owners next saturday we need to chant for our money back that belongs to us not some other team that wants to get better by milking a smaller more profitable team of its hard earned cash that should have reinvested into itself. Rant over what are your thoughts?😂
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| Where has the money gone? on 15:03 - Feb 3 with 1793 views | jacktheripper |
| Where has the money gone? on 12:26 - Feb 3 by Elmo |
The Trust sees the Management Accounts.
Can we not get some clarity from the Trust at this point ? |
The Trust havent seen the accounts since June |  | | |
| Where has the money gone? on 17:35 - Feb 3 with 1714 views | Flashberryjack |
| Where has the money gone? on 15:03 - Feb 3 by jacktheripper |
The Trust havent seen the accounts since June |
Why not ? |  |
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| Where has the money gone? on 17:38 - Feb 3 with 1705 views | longlostjack |
That is the question. |  |
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| Where has the money gone? on 18:14 - Feb 3 with 1638 views | _ |
Why hasn't the Trust put people right on this subject having seen hundreds of posts about not seeing the accounts since June
It's disgusting |  |
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| Where has the money gone? on 18:19 - Feb 3 with 1620 views | SomethingRandom |
All directors are entitled to see the accounts. They can demand to see the accounts. They're also there for all to see on companies house. The yanks haven't taken the money, they've simply wasted it with the help of Huw on bad transfer dealings, wages and agents. So much was wasted on players who hardly played before being shipped out such as Baston or players who were never worth the fee such as Clucas.
All down to bad management in my view | |
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| Where has the money gone? on 18:27 - Feb 3 with 1584 views | _ |
| Where has the money gone? on 18:19 - Feb 3 by SomethingRandom |
All directors are entitled to see the accounts. They can demand to see the accounts. They're also there for all to see on companies house. The yanks haven't taken the money, they've simply wasted it with the help of Huw on bad transfer dealings, wages and agents. So much was wasted on players who hardly played before being shipped out such as Baston or players who were never worth the fee such as Clucas.
All down to bad management in my view |
That's the yearly accounts, The Mis-Trust have allowed everyone to believe they don't see the monthly management accounts, which they have all along.
Extremely worrying behaviour, it's like 2015 all over again when they blatantly lied about their Director not getting any money from the Club | |
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| Where has the money gone? on 18:36 - Feb 3 with 1553 views | SomethingRandom |
Directors are entitled to see the accounts at any time including management accounts. They can ask for any internal company information that they want.
The Trust is a different matter. As an outside party they aren't entitled to see the monthly financial information.
It's down to the Trust's director to analyse the information and provide feedback to the Trust. If he isn't capable of doing that then the Trust need to appoint someone else to the board who can. What he can't do is simply handover the financial information to the Trust. | |
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| Where has the money gone? on 18:36 - Feb 3 with 1549 views | JACKMANANDBOY |
| Where has the money gone? on 18:27 - Feb 3 by _ |
That's the yearly accounts, The Mis-Trust have allowed everyone to believe they don't see the monthly management accounts, which they have all along.
Extremely worrying behaviour, it's like 2015 all over again when they blatantly lied about their Director not getting any money from the Club |
What happened in 2015?
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| Where has the money gone? on 06:39 - Feb 4 with 1408 views | Dr_Winston |
| Where has the money gone? on 11:36 - Feb 3 by costalotta |
Innit!
But that’s too convenient and doesn’t fit the agenda / narrative of some of our fans. Gullible in the extreme. |
Wages to turnover ratio running at close to 90% with very little other income (gates, commercial) accounts for the £90m a year PL money on its own. What we received in on player sales was largely paid back out.
Chuck in the position we were in last summer, with a squad full of players on PL wages but income reduced by more than half and you don't really need to go looking for any kind of narrative. The club lost control of its finances. We went from buying smartly and being prudent to chucking millions at agents, the same way every other club does business. On and off the pitch we abandoned what had worked and now we're paying the price.
It's possible that money is being siphoned away. Hard to see where these spare millions come from though. As Uxy said in the other thread, all the Americans have to do is provide full transparency. It won't stop all of the speculation, but at least the facts will be out.
This post has been edited by an administrator |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Where has the money gone? on 08:51 - Feb 4 with 1331 views | Yossarian |
Fundamentally, look at the most obvious things first and apply the proven maxim that if it’s a choice between ‘Conspiracy’ and ‘Cockup’ then it’s almost certainly going to be ‘Cockup’. I honestly think the Yanks were not initially here to asset strip. I think they thought it was going to be a nice steady earner under a safe pair of hands that they could manage from afar. I think there’s a load of animosity now between the Yanks and the Sellouts because the Yanks realise they were sold a pup and that Jenkins, Dineen and the others aren’t as capable as they thought they were. They are responding in the only way they know how as businessmen- cut costs and get it back on an even keel. Why are we in this shit? Because Jenkins was totally out of his depth and believed he was better than he was....and because they became very insular, surrounding themselves with sycophants, there was also no one around to tell him some home truths. When you look at the transfer business it’s totally crazy. Who was doing the due diligence in these players? The fact that most of them were not suited to the playing style and were not the right character was obvious to most fans, and insult was added to injury by comical ncompetence over the the failures to re-secure Rodgers and Joe Allen. I would respectfully suggest that Jenkins and his close associates are primarily responsible for this mess. They could have protected their investment by securing an experienced Chief Executive with top contacts in the game but they were afflicted by delusions of competence and blinded by personal greed. For that, they ALL deserve condemnation. Forgiveness might be forthcoming, but the ball is firmly in their court. Their move. [Post edited 4 Feb 2019 8:53]
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| "Yossarian- the very sight of the name made him shudder.There were so many esses in it. It just had to be subversive" (Catch 22) |
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| Where has the money gone? on 08:54 - Feb 4 with 1319 views | _ |
| Where has the money gone? on 18:36 - Feb 3 by SomethingRandom |
Directors are entitled to see the accounts at any time including management accounts. They can ask for any internal company information that they want.
The Trust is a different matter. As an outside party they aren't entitled to see the monthly financial information.
It's down to the Trust's director to analyse the information and provide feedback to the Trust. If he isn't capable of doing that then the Trust need to appoint someone else to the board who can. What he can't do is simply handover the financial information to the Trust. |
But apparently he does as there's a whole sub group that get these accounts? | |
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| Where has the money gone? on 08:58 - Feb 4 with 1311 views | Devz00 |
| Where has the money gone? on 06:39 - Feb 4 by Dr_Winston |
Wages to turnover ratio running at close to 90% with very little other income (gates, commercial) accounts for the £90m a year PL money on its own. What we received in on player sales was largely paid back out.
Chuck in the position we were in last summer, with a squad full of players on PL wages but income reduced by more than half and you don't really need to go looking for any kind of narrative. The club lost control of its finances. We went from buying smartly and being prudent to chucking millions at agents, the same way every other club does business. On and off the pitch we abandoned what had worked and now we're paying the price.
It's possible that money is being siphoned away. Hard to see where these spare millions come from though. As Uxy said in the other thread, all the Americans have to do is provide full transparency. It won't stop all of the speculation, but at least the facts will be out.
This post has been edited by an administrator |
Top post. Sums up my feelings on this. The last paragraph rings true as nobody can prove that the yanks are siphoning money out. I personally can’t see how they’ve taken tens of millions out, which is what the rumours are. They might have but nobody can prove it yet. |  |
| Genetically, paedophiles have more genes in common with crabs than they do with you and me. Now that is scientific fact. There's no real evidence for it, but it is scientific fact. |
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| Where has the money gone? on 09:04 - Feb 4 with 1297 views | jasper_T |
| Where has the money gone? on 06:39 - Feb 4 by Dr_Winston |
Wages to turnover ratio running at close to 90% with very little other income (gates, commercial) accounts for the £90m a year PL money on its own. What we received in on player sales was largely paid back out.
Chuck in the position we were in last summer, with a squad full of players on PL wages but income reduced by more than half and you don't really need to go looking for any kind of narrative. The club lost control of its finances. We went from buying smartly and being prudent to chucking millions at agents, the same way every other club does business. On and off the pitch we abandoned what had worked and now we're paying the price.
It's possible that money is being siphoned away. Hard to see where these spare millions come from though. As Uxy said in the other thread, all the Americans have to do is provide full transparency. It won't stop all of the speculation, but at least the facts will be out.
This post has been edited by an administrator |
The only point to disagree with here is that we were run "the same way every other club does business". Comparing our spending to other relegated clubs suggests we were performing far worse than most clubs in that regard. Stoke and West Brom didn't come down with nearly the same number of high earners (no £120k and £90k/week men) or as obscene an overall wage:turnover ratio. | | | |
| Where has the money gone? on 09:09 - Feb 4 with 1279 views | Lord_Bony |
Laudrup will go down as one of the best managers we've had,a pity his hands were tied. It got like the Senate of Ancient Rome in the end...the knives were out for him.
The turning point came when the American consortium took over and we lost the Swansea Way and our identity on and off the pitch. We then appointed Bob "fickwit" Bradley as an experiment for the yanks...disaster.
Guindolin had a lot of potential,we should have backed him,again the knives were out. And on it went with the managers. Many came and went more money.
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The transfer decisions were also disastrous It's not as if the Swans haven't splashed the cash. Mesa cost £11m, Sam Clucas £17m. Who on earth sanctioned those sums of money for those players? Hmm, more money down the drain.
Let's hope the new dof knows what he's doing.
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| Where has the money gone? on 09:10 - Feb 4 with 1276 views | jack2jack |
| Where has the money gone? on 18:36 - Feb 3 by SomethingRandom |
Directors are entitled to see the accounts at any time including management accounts. They can ask for any internal company information that they want.
The Trust is a different matter. As an outside party they aren't entitled to see the monthly financial information.
It's down to the Trust's director to analyse the information and provide feedback to the Trust. If he isn't capable of doing that then the Trust need to appoint someone else to the board who can. What he can't do is simply handover the financial information to the Trust. |
Sorry SR, but you say the trust is different, how can that be,, they are shareholders in the club and entitled to see the accounts at anytime.
Or have I misinterpreted your post👠|  | | |
| Where has the money gone? on 09:55 - Feb 4 with 1224 views | jasper_T |
| Where has the money gone? on 09:10 - Feb 4 by jack2jack |
Sorry SR, but you say the trust is different, how can that be,, they are shareholders in the club and entitled to see the accounts at anytime.
Or have I misinterpreted your post👠|
Shareholders aren't entitled to see the accounts at any time (only annual accounts). He's saying directors are. The Trust have a director on the board but that's an individual. The NDA situation regards his ability to share what he sees with the trust at large (non-directors). | | | |
| Where has the money gone? on 10:07 - Feb 4 with 1206 views | Dr_Winston |
| Where has the money gone? on 09:04 - Feb 4 by jasper_T |
The only point to disagree with here is that we were run "the same way every other club does business". Comparing our spending to other relegated clubs suggests we were performing far worse than most clubs in that regard. Stoke and West Brom didn't come down with nearly the same number of high earners (no £120k and £90k/week men) or as obscene an overall wage:turnover ratio. |
Fair comment, even though thanks to Coates Stoke are more able to absorb such losses. We weren't.
We went from signing Michu and Flores for £4m combined with DeGuzman on loan to paying £15m just for for Clucas. Doesn't take much analysis to pinpoint where things went wrong. | |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Where has the money gone? on 10:11 - Feb 4 with 1198 views | jasper_T |
| Where has the money gone? on 10:07 - Feb 4 by Dr_Winston |
Fair comment, even though thanks to Coates Stoke are more able to absorb such losses. We weren't.
We went from signing Michu and Flores for £4m combined with DeGuzman on loan to paying £15m just for for Clucas. Doesn't take much analysis to pinpoint where things went wrong. |
Yeah it's not why Stoke were able to keep spending (that's thanks to gambling addicts and predatory advertising practices) but is relevant to our current financial situation. Our spending last season was insane. | | | |
| Where has the money gone? on 10:52 - Feb 4 with 1149 views | monmouth |
| Where has the money gone? on 10:11 - Feb 4 by jasper_T |
Yeah it's not why Stoke were able to keep spending (that's thanks to gambling addicts and predatory advertising practices) but is relevant to our current financial situation. Our spending last season was insane. |
Bony and Ayew alone are the difference between us and a much stronger position. It makes me want to weep because everyone except those making the decision knew they would have an extraordinarily low probability of coming off.
We still should have made it mind. I charge Carvalhal with both the praise for the fact we should have and blame for the fact we didn’t. |  |
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| Where has the money gone? on 10:58 - Feb 4 with 1130 views | jasper_T |
| Where has the money gone? on 10:52 - Feb 4 by monmouth |
Bony and Ayew alone are the difference between us and a much stronger position. It makes me want to weep because everyone except those making the decision knew they would have an extraordinarily low probability of coming off.
We still should have made it mind. I charge Carvalhal with both the praise for the fact we should have and blame for the fact we didn’t. |
It's Clement's fault we're in this pickle. If he'd let us go down in his first season we could've trousered the Gylfi and Llorente money and not splurged on Andre, Wilf, Clucas, Mesa, Sanches, Tammy and Andy King.
The club made a profit in 16-17. The kids had just won PL2 division 2 and the cup. That extra season of hanging on by the fingernails gained us next to nothing and was financially ruinous. | | | |
| Where has the money gone? on 11:11 - Feb 4 with 1092 views | DrGonzo |
| Where has the money gone? on 10:58 - Feb 4 by jasper_T |
It's Clement's fault we're in this pickle. If he'd let us go down in his first season we could've trousered the Gylfi and Llorente money and not splurged on Andre, Wilf, Clucas, Mesa, Sanches, Tammy and Andy King.
The club made a profit in 16-17. The kids had just won PL2 division 2 and the cup. That extra season of hanging on by the fingernails gained us next to nothing and was financially ruinous. |
Absolutely bang on. We had a stay of execution and ultimately it's been twice as painful. |  | | |
| Where has the money gone? on 11:12 - Feb 4 with 1092 views | Dr_Winston |
| Where has the money gone? on 10:58 - Feb 4 by jasper_T |
It's Clement's fault we're in this pickle. If he'd let us go down in his first season we could've trousered the Gylfi and Llorente money and not splurged on Andre, Wilf, Clucas, Mesa, Sanches, Tammy and Andy King.
The club made a profit in 16-17. The kids had just won PL2 division 2 and the cup. That extra season of hanging on by the fingernails gained us next to nothing and was financially ruinous. |
If Clement had been less cautious with the squad we started last season with we'd probably have survived. CC got results out of them until Fer got injured. | |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Where has the money gone? on 11:15 - Feb 4 with 1082 views | Thornburyswan |
| Where has the money gone? on 18:19 - Feb 3 by SomethingRandom |
All directors are entitled to see the accounts. They can demand to see the accounts. They're also there for all to see on companies house. The yanks haven't taken the money, they've simply wasted it with the help of Huw on bad transfer dealings, wages and agents. So much was wasted on players who hardly played before being shipped out such as Baston or players who were never worth the fee such as Clucas.
All down to bad management in my view |
Yup - which is exactly what happens when you bring in a board backed by 27 investors who have little or no knowledge of the Premiership/football league in the UK & then chose to keep on a number of the 'old guard' who had openly admitted they'd taken the club as far as they could - piss-up & brewery come to mind!
This was always likely to happen, just a matter of when & how much pain it would bring - I fear that unless our American friends wake up & smell the coffee asap (experienced DOF plus commitment to pay down some of the debt/hole from the resources of the 27 plus the Trust if it's up for that) then come the summer we'll be waving goodbye to GP plus Rodon/Roberts. | | | |
| Where has the money gone? on 21:18 - Feb 4 with 957 views | Gowerjack |
| Where has the money gone? on 08:51 - Feb 4 by Yossarian |
Fundamentally, look at the most obvious things first and apply the proven maxim that if it’s a choice between ‘Conspiracy’ and ‘Cockup’ then it’s almost certainly going to be ‘Cockup’. I honestly think the Yanks were not initially here to asset strip. I think they thought it was going to be a nice steady earner under a safe pair of hands that they could manage from afar. I think there’s a load of animosity now between the Yanks and the Sellouts because the Yanks realise they were sold a pup and that Jenkins, Dineen and the others aren’t as capable as they thought they were. They are responding in the only way they know how as businessmen- cut costs and get it back on an even keel. Why are we in this shit? Because Jenkins was totally out of his depth and believed he was better than he was....and because they became very insular, surrounding themselves with sycophants, there was also no one around to tell him some home truths. When you look at the transfer business it’s totally crazy. Who was doing the due diligence in these players? The fact that most of them were not suited to the playing style and were not the right character was obvious to most fans, and insult was added to injury by comical ncompetence over the the failures to re-secure Rodgers and Joe Allen. I would respectfully suggest that Jenkins and his close associates are primarily responsible for this mess. They could have protected their investment by securing an experienced Chief Executive with top contacts in the game but they were afflicted by delusions of competence and blinded by personal greed. For that, they ALL deserve condemnation. Forgiveness might be forthcoming, but the ball is firmly in their court. Their move. [Post edited 4 Feb 2019 8:53]
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Faultless.
Absolutely spot on. |  |
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