Not sure where £60m comes from. I was aware of something nearer £49m.
£13m - debt is to be repaid as a development loan over 18 years.
£26m+ - debt owed to the McCabes
£10m - Creditors / Fee's owed for players?
Most of the above must refer to the hotel building.
Whats interesting is why no one ever talks about the money owed to us;
£19m - Tevez setlement (£20m - Legal costs)
£5m - Tevez Settlement (Supposedly when WHU were bought for £100m+, it triggers an incentive for us)
£8m - The 2 Kyles (it was a little bit more - this is probably net of Agents fees!)
£2m - Kilgallon Fee (payable in the future probaly)
£1.5m - Money from Stoke for Beattie, probably still being repaid.
Theres something like £35m of cash to offset the debts.
The club is pleading poverty when it shouldn't. McCabe is right to assert the club should stand on its own two feet but why is it having to pick up the tab for the hotel and other business problems.
I would have thought our wage bill is easily below £10m a year. Its easy for the club to say its the second highest in the championship but this is not substantable. How do they know the wage bills of 23 other clubs.