Recessions are when empires are built!!!!!December 1 2010 at 6:46 AM
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|SYBladesman (no login)|
Response to Judas McCabe
You fans don't realise this but big empires can be built in recessionary times. McCabe is doing just that with the hotel. It should have stayed in the club and when the up turn of the global economy starts the will club would reap the rewards!! I know from experience....I bought both commercial and residential property cheap in the last recession using the banks money...I now have a property portfolio of £10m all debt free!!!!! Yes it was hard work at the start, money was very tight moving money between various properties etc...but it was well worth the struggle and i'm now made for life.
I feel for McCabe he is a blade and if the fans had let him get on and make money for the club the way he made his fortune in 10 years we'd have a wealthy club with income generating assets and the club probabably in the Premiership.
As it stands the fans have the slagged off the club and McCabe about all these property deals and debt that he's lost patience and said sod it i'll take it all out.
Contrary to fans belief Football clubs cannot survive on just gate receipts, sponsorship, and tv money. They need to build other income streams!!
Yes we'll be debt free in 3years but where will the money be coming from to buy players???? As i said previously Gate Receipts etc will only pay for general running expenses not transfers.
Sorry folks but its Championship football for a long long time. You caught the boat, got cold feet and jumped ship!!!