New CEO

[short_gog]

Originally Posted by Todd Sweeney

Not at all. I think Hughes was a big mistake.

I'm saying that overall the trust did a very good job in managing the finances of the club, which made us attractive to the new owners.

they did a good job at fixing the boat which was in great peril, they plugged all the leaks and keeping the ship safe and steady in harbour, however they hadn't a clue how to pilot it through the choppy waters once we got to open sea, and let the hull rot away to a point that the crew mutinied, more water was coming in by the week, and unless the SS R&R hadn't come along, we would've sunk down to Davey Jones' locker.

[Wirral Red]

Originally Posted by OriginalRhylRed

where has all the Ward money gone !!!????!!! , they ,at the outset did a good job but over the last 3/4 years it has been dreadful

Obviously it was spent paying poor players and funding poor managers as well as maintaining an old stadium and all the general running costs e.g overnight away stays , admin & shop staff , groundsman , lease costs etc
Are we sure that it was £1.8 million , Ward left Liverpool for £13 million , 10% being £1.3 million , how was the rest made up? Also believe that it was paid in installments which would have been used up over a longer timescale. Would love to see some facts about this not rumors.

[GiggityGiggityGiggityGoo]

Originally Posted by Wirral Red

Obviously it was spent paying poor players and funding poor managers as well as maintaining an old stadium and all the general running costs e.g overnight away stays , admin & shop staff , groundsman , lease costs etc
Are we sure that it was £1.8 million , Ward left Liverpool for £13 million , 10% being £1.3 million , how was the rest made up? Also believe that it was paid in installments which would have been used up over a longer timescale. Would love to see some facts about this not rumors.

Whether the £1.8million was payed in installments matters little, the bulk was payed within 18 months of the move. It was wasted due to the instance on spending all additional funds on the first team first and strictly the first team only, not on improving hospitality or going a long way towards a training ground, plus many many other things.

The mistakes are glaring and go a long way towards why the football team has been very poor for half the WST's tenure

We all should've know how bad it would get when Fowler was sold to a title challenging rival.

[Alan Attack]

Originally Posted by GiggityGiggityGiggityGoo

Whether the £1.8million was payed in installments matters little, the bulk was payed within 18 months of the move. It was wasted due to the instance on spending all additional funds on the first team first and strictly the first team only, not on improving hospitality or going a long way towards a training ground, plus many many other things.

The mistakes are glaring and go a long way towards why the football team has been very poor for half the WST's tenure

We all should've know how bad it would get when Fowler was sold to a title challenging rival.

Well, it’s over now.

[Red_Jackoisback]

Originally Posted by GiggityGiggityGiggityGoo

Whether the £1.8million was payed in installments matters little, the bulk was payed within 18 months of the move. It was wasted due to the instance on spending all additional funds on the first team first and strictly the first team only, not on improving hospitality or going a long way towards a training ground, plus many many other things.

The mistakes are glaring and go a long way towards why the football team has been very poor for half the WST's tenure

We all should've know how bad it would get when Fowler was sold to a title challenging rival.

Everyone also forgets that there was 20% CGT to pay too so £1.8m becomes £1.4 very quickly - if it was £1.8 that is. Not defending anything just stating facts

[Prodigal Dragon]

Originally Posted by short_gog

they did a good job at fixing the boat which was in great peril, they plugged all the leaks and keeping the ship safe and steady in harbour, however they hadn't a clue how to pilot it through the choppy waters once we got to open sea, and let the hull rot away to a point that the crew mutinied, more water was coming in by the week, and unless the SS R&R hadn't come along, we would've sunk down to Davey Jones' locker.

BZ for your nautical analogy.

Torpedoed by their own poor decisions over managers, which ate into the reserves they had accrued.

Not as evil as many claimed, but not as effective as TS remembers. Ultimately, they have done what was necessary before the finances got out of control. That act alone is worthy of much credit, especially against a backdrop wherein some diehards would have carried on.

[Dougie Davies]

Originally Posted by Red_Jackoisback

Everyone also forgets that there was 20% CGT to pay too so £1.8m becomes £1.4 very quickly - if it was £1.8 that is. Not defending anything just stating facts

I thought the whole point of them paying in installments was that it saved us paying much tax on it.

[Haruki]

Originally Posted by Red_Jackoisback

Everyone also forgets that there was 20% CGT to pay too so £1.8m becomes £1.4 very quickly - if it was £1.8 that is. Not defending anything just stating facts

Incorrect. You pay tax on profits not on revenue so we were only taxed on what was left at the year end which given we wasted it so quickly was probably not a huge amount. In addition we had taxable losses to bring forward and offset against that years profits.
Oh, and finally, corporation tax is 19% not 20%

[Phils-an-alki]

Originally Posted by short_gog

they did a good job at fixing the boat which was in great peril, they plugged all the leaks and keeping the ship safe and steady in harbour, however they hadn't a clue how to pilot it through the choppy waters once we got to open sea, and let the hull rot away to a point that the crew mutinied, more water was coming in by the week, and unless the SS R&R hadn't come along, we would've sunk down to Davey Jones' locker.

Brilliant.

[WrexhamO]

Originally Posted by Red_Jackoisback

Everyone also forgets that there was 20% CGT to pay too so £1.8m becomes £1.4 very quickly - if it was £1.8 that is. Not defending anything just stating facts

Not when you account for all the losses brought forward from previous years to offset it.

In the end we paid around £40k in tax. Losses in years after did not come into that, but can now be used to reclaim that tax.