Damocles said:
They're fucked.
They are losing £50m a year consistently. Their owners are loaning them money to cover it. They already owe them £70m on top of the £50m they owe the bank and they've automatically failed FFP because this hasn't been converted to equity.
They have brainwashed the scousers by telling them that these losses are something to do with one off fees about the old stadium but it's bollocks. Their exceptional items this year were £2m. They paid their stadium costs by restructuring debt.
They have also pointed to a commercial revenue growth from £63m to £97m as a big victory for them but they freely admit in their actual accounts that this is because they submitted 10 months of accounts in 2012 and the difference is down to having a full year.
Then scousers point to a line that says that their profit before player trading is £15m. But this doesn't take into account amortisation either so you may as way discount the wage bill if we're just throwing costs out of the window as markers of success.
I'm telling you know, they've no money to spend in the summer. They have to sell Suarez or plunge the club into further debt to buy players.
It's fucking hilarious watching Liverpool fans trying to differentiate their owners' largesse from ours, by whatever means they can, in order to justify it and make it more noble.
It is essentially the same concept. Only the amounts differ. Without the support of their owners they wouldn't be where they are now in the table. That is indisputable.
Not sure they're 'fucked' though Damo. The CL money and the increased TV deal should change the landscape for them significantly, as it will for us. Liverpool fans in particular are going to be in for an 'orrible shock when they see the turnover and profits that we're going to start posting in two or three years time, that's for sure.
