New Saints board inherit "difficult" financial situation

Former Saints executive chairman Nicola Cortese who led the club during the 2012/13 reporting period

Former Saints executive chairman Nicola Cortese who led the club during the 2012/13 reporting period

First published in Sport Daily Echo: Photograph of the Author by , Chief Sports Writer

Saints director Hans Hofstetter has vowed that the club will avoid a repeat of the “difficult” financial situation he says the new board has inherited.

In what will likely be viewed as a criticism of Nicola Cortese’s recent financial stewardship, the new director painted an interesting picture of the Saints books after the release of the 2012/13 figures.

The main concern appears to be the training ground project now running to £30m, while £27m remains outstanding in transfer fees to be paid out, with £22m committed in 2014/15.

Hofstetter said: “Whilst I perceive that we have inherited a difficult situation financially, there are now clear and structured plans in place to progress the Club and avoid a similar situation from occurring again.

“The continued support of the Ultimate Shareholder cannot be underestimated, and we are grateful to be able to rely on their dedication to helping us flourish as a Club.

“In the short time I have been at Southampton it has become abundantly clear that we are blessed with a staff that has all the necessary skills with which to progress, and now that we can supplement that with a strong Board I am sure we will enjoy a successful future together.”

Gareth Rogers, Chief Executive Officer added: “The financial results reflect the first full year in the Barclays Premier League and clearly show the impact of promotion two years ago.

“The Club has risen quickly in a short period and committed itself to high levels of expenditure both on the development of Staplewood Training Ground, which is likely to exceed £30m as well as significant future transfer fees. This high level of expenditure has required strong support from the Ultimate Shareholder and once again this has been shown.

“The redevelopment of Staplewood Training Ground will provide the players and Academy staff with the best quality environment to meet the standard set by the First Team who have competed and performed on the pitch at the highest level, and will also help the Academy to continue to develop future talent.

“In other areas the Club has maintained its prudent approach to the stewardship of the underlying activities required to run the club. It has also continued to develop the off pitch business and this approach will create a strong future.

“With the first phase of the training ground due to open this summer, Academy graduates continuing to progress into the first team, a healthy operating profit position and a strong ownership combined and balanced board we are provided with an excellent foundation from which the Club as a whole can continue to grow. With the continued backing of our fantastic supporters and commercial partners we have every reason to be optimistic for the future.”

Comments (35)

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7:24am Mon 31 Mar 14

iswhite10 says...

Don't like the sound of is.
If there's no substantial additions to the squad is summer, ie centre back and goalscorer, then I fear (especially given Luke's comments this weekend) a possible loss of talent.....
Don't like the sound of is. If there's no substantial additions to the squad is summer, ie centre back and goalscorer, then I fear (especially given Luke's comments this weekend) a possible loss of talent..... iswhite10
  • Score: -24

7:30am Mon 31 Mar 14

Epsom Saint says...

They haven't said that they won't be adding to the squad, just that they want to balance the books going forward.
They haven't said that they won't be adding to the squad, just that they want to balance the books going forward. Epsom Saint
  • Score: 20

7:56am Mon 31 Mar 14

Bobs Your Uncle ? says...

total debt must be in the region of 80 million , expect a firesale.
total debt must be in the region of 80 million , expect a firesale. Bobs Your Uncle ?
  • Score: -62

8:03am Mon 31 Mar 14

iswhite10 says...

I'm not panicking and will judge the new board by its actions is summer, but this current period is just SO good I've got the jitters.
Tying up a new deal with Pochetino seems to be the key, and he'll stay as long as there's money to spend
I'm not panicking and will judge the new board by its actions is summer, but this current period is just SO good I've got the jitters. Tying up a new deal with Pochetino seems to be the key, and he'll stay as long as there's money to spend iswhite10
  • Score: 26

8:09am Mon 31 Mar 14

Mickey G says...

To put this into perspective we made a loss of £6.6m before interest and tax, the statement from the new board is that we will not be in this position going forward, with £22m of delayed transfer fee payments to be made in 2014/15 and the Staplewood project nearly double the original cost, incremental wages for 3 new Board Members (although reduced by Cortese exit) we will have to increase income from matchday (season tickets, merchandise, hospitality which is hardly ever full, food and drink) not sure if the TV income increases and by how much? looks like we could be selling some of our prized assets in the summer, Shaw, Chambers, Lovren, Lallana, J-Rod, we need to get £12/15m for Osvaldo, £10m for Ramirez and get the fringe players like Guly out of the club and off the wage bill, this unfortunately sends out a message to other Premiership Teams that our best players could be available in the summer.

This is not what MOPO will have wanted to hear!!!
To put this into perspective we made a loss of £6.6m before interest and tax, the statement from the new board is that we will not be in this position going forward, with £22m of delayed transfer fee payments to be made in 2014/15 and the Staplewood project nearly double the original cost, incremental wages for 3 new Board Members (although reduced by Cortese exit) we will have to increase income from matchday (season tickets, merchandise, hospitality which is hardly ever full, food and drink) not sure if the TV income increases and by how much? looks like we could be selling some of our prized assets in the summer, Shaw, Chambers, Lovren, Lallana, J-Rod, we need to get £12/15m for Osvaldo, £10m for Ramirez and get the fringe players like Guly out of the club and off the wage bill, this unfortunately sends out a message to other Premiership Teams that our best players could be available in the summer. This is not what MOPO will have wanted to hear!!! Mickey G
  • Score: -40

8:09am Mon 31 Mar 14

Positively4thStreet says...

"We have inherited a financial problem"..I've heard that somewhere before?
Or in plain English," If it all goes titsup..its not our fault!"
"We have inherited a financial problem"..I've heard that somewhere before? Or in plain English," If it all goes titsup..its not our fault!" Positively4thStreet
  • Score: -24

8:35am Mon 31 Mar 14

Stroppy_gramps says...

Bobs Your Uncle ? wrote:
total debt must be in the region of 80 million , expect a firesale.
clearly you were being sarcastic......
[quote][p][bold]Bobs Your Uncle ?[/bold] wrote: total debt must be in the region of 80 million , expect a firesale.[/p][/quote]clearly you were being sarcastic...... Stroppy_gramps
  • Score: 11

8:35am Mon 31 Mar 14

jrod11 says...

Look like players will be on their way as well as Poch unfortunately. uts
Look like players will be on their way as well as Poch unfortunately. uts jrod11
  • Score: -44

8:39am Mon 31 Mar 14

Bobs Your Uncle ? says...

Stroppy_gramps wrote:
Bobs Your Uncle ? wrote:
total debt must be in the region of 80 million , expect a firesale.
clearly you were being sarcastic......
30 million in previous loans , 25 million transfer debt , staplewood cost , i would imagine firesale is very much in their thoughts to clear the books.
[quote][p][bold]Stroppy_gramps[/bold] wrote: [quote][p][bold]Bobs Your Uncle ?[/bold] wrote: total debt must be in the region of 80 million , expect a firesale.[/p][/quote]clearly you were being sarcastic......[/p][/quote]30 million in previous loans , 25 million transfer debt , staplewood cost , i would imagine firesale is very much in their thoughts to clear the books. Bobs Your Uncle ?
  • Score: -32

8:47am Mon 31 Mar 14

SwedeSaint says...

Mickey G wrote:
To put this into perspective we made a loss of £6.6m before interest and tax, the statement from the new board is that we will not be in this position going forward, with £22m of delayed transfer fee payments to be made in 2014/15 and the Staplewood project nearly double the original cost, incremental wages for 3 new Board Members (although reduced by Cortese exit) we will have to increase income from matchday (season tickets, merchandise, hospitality which is hardly ever full, food and drink) not sure if the TV income increases and by how much? looks like we could be selling some of our prized assets in the summer, Shaw, Chambers, Lovren, Lallana, J-Rod, we need to get £12/15m for Osvaldo, £10m for Ramirez and get the fringe players like Guly out of the club and off the wage bill, this unfortunately sends out a message to other Premiership Teams that our best players could be available in the summer.

This is not what MOPO will have wanted to hear!!!
The only perspective you have put this into is a negative one - well done.
There will be players sold and players bought, the expenditure detailed in the accounts are predominantly one off investment costs in infrastructure to ensure that we will be continually able to produce high quality young players that we can introduce to the first team premier league squad.
In real terms we have a sound financial set up, and with a focused board we will be able to make great strides forward. I am loving this period in the development of our football club and refuse to let it be soured by the negative interpretation of a set of annual accounts that tell the tale of a structured, ethical rise back to the top tier of English football.
[quote][p][bold]Mickey G[/bold] wrote: To put this into perspective we made a loss of £6.6m before interest and tax, the statement from the new board is that we will not be in this position going forward, with £22m of delayed transfer fee payments to be made in 2014/15 and the Staplewood project nearly double the original cost, incremental wages for 3 new Board Members (although reduced by Cortese exit) we will have to increase income from matchday (season tickets, merchandise, hospitality which is hardly ever full, food and drink) not sure if the TV income increases and by how much? looks like we could be selling some of our prized assets in the summer, Shaw, Chambers, Lovren, Lallana, J-Rod, we need to get £12/15m for Osvaldo, £10m for Ramirez and get the fringe players like Guly out of the club and off the wage bill, this unfortunately sends out a message to other Premiership Teams that our best players could be available in the summer. This is not what MOPO will have wanted to hear!!![/p][/quote]The only perspective you have put this into is a negative one - well done. There will be players sold and players bought, the expenditure detailed in the accounts are predominantly one off investment costs in infrastructure to ensure that we will be continually able to produce high quality young players that we can introduce to the first team premier league squad. In real terms we have a sound financial set up, and with a focused board we will be able to make great strides forward. I am loving this period in the development of our football club and refuse to let it be soured by the negative interpretation of a set of annual accounts that tell the tale of a structured, ethical rise back to the top tier of English football. SwedeSaint
  • Score: 26

8:51am Mon 31 Mar 14

RED & WHITE..RED & WHITE says...

Don't worry get rid of Gully and Osvaldo problem solved !!!!
Don't worry get rid of Gully and Osvaldo problem solved !!!! RED & WHITE..RED & WHITE
  • Score: 7

8:53am Mon 31 Mar 14

StElsass says...

SwedeSaint wrote:
Mickey G wrote:
To put this into perspective we made a loss of £6.6m before interest and tax, the statement from the new board is that we will not be in this position going forward, with £22m of delayed transfer fee payments to be made in 2014/15 and the Staplewood project nearly double the original cost, incremental wages for 3 new Board Members (although reduced by Cortese exit) we will have to increase income from matchday (season tickets, merchandise, hospitality which is hardly ever full, food and drink) not sure if the TV income increases and by how much? looks like we could be selling some of our prized assets in the summer, Shaw, Chambers, Lovren, Lallana, J-Rod, we need to get £12/15m for Osvaldo, £10m for Ramirez and get the fringe players like Guly out of the club and off the wage bill, this unfortunately sends out a message to other Premiership Teams that our best players could be available in the summer.

This is not what MOPO will have wanted to hear!!!
The only perspective you have put this into is a negative one - well done.
There will be players sold and players bought, the expenditure detailed in the accounts are predominantly one off investment costs in infrastructure to ensure that we will be continually able to produce high quality young players that we can introduce to the first team premier league squad.
In real terms we have a sound financial set up, and with a focused board we will be able to make great strides forward. I am loving this period in the development of our football club and refuse to let it be soured by the negative interpretation of a set of annual accounts that tell the tale of a structured, ethical rise back to the top tier of English football.
If it helps this is from an interview with Hofstetter on the BBC:
"The most important point is that we are in a position where we do not need to sell any player Mauricio wants to keep," Hofstetter added.

"We have a very strong squad and we are still in a situation where we are free enough to act quickly if quick action is asked from us.
[quote][p][bold]SwedeSaint[/bold] wrote: [quote][p][bold]Mickey G[/bold] wrote: To put this into perspective we made a loss of £6.6m before interest and tax, the statement from the new board is that we will not be in this position going forward, with £22m of delayed transfer fee payments to be made in 2014/15 and the Staplewood project nearly double the original cost, incremental wages for 3 new Board Members (although reduced by Cortese exit) we will have to increase income from matchday (season tickets, merchandise, hospitality which is hardly ever full, food and drink) not sure if the TV income increases and by how much? looks like we could be selling some of our prized assets in the summer, Shaw, Chambers, Lovren, Lallana, J-Rod, we need to get £12/15m for Osvaldo, £10m for Ramirez and get the fringe players like Guly out of the club and off the wage bill, this unfortunately sends out a message to other Premiership Teams that our best players could be available in the summer. This is not what MOPO will have wanted to hear!!![/p][/quote]The only perspective you have put this into is a negative one - well done. There will be players sold and players bought, the expenditure detailed in the accounts are predominantly one off investment costs in infrastructure to ensure that we will be continually able to produce high quality young players that we can introduce to the first team premier league squad. In real terms we have a sound financial set up, and with a focused board we will be able to make great strides forward. I am loving this period in the development of our football club and refuse to let it be soured by the negative interpretation of a set of annual accounts that tell the tale of a structured, ethical rise back to the top tier of English football.[/p][/quote]If it helps this is from an interview with Hofstetter on the BBC: "The most important point is that we are in a position where we do not need to sell any player Mauricio [Pochettino] wants to keep," Hofstetter added. "We have a very strong squad and we are still in a situation where we are free enough to act quickly if quick action is asked from us. StElsass
  • Score: 31

9:12am Mon 31 Mar 14

whizzer says...

Be interesting to see what the figures will be like for this current season with the much talked about mega TV deal and a higher league finish.
Be interesting to see what the figures will be like for this current season with the much talked about mega TV deal and a higher league finish. whizzer
  • Score: 6

9:22am Mon 31 Mar 14

Folkestone Saint says...

Bobs Your Uncle ? wrote:
total debt must be in the region of 80 million , expect a firesale.
Do you remember how much money you get for staying in the prem or does your memory not go back that far, where-as you get about 70p finishing where you are in the league
[quote][p][bold]Bobs Your Uncle ?[/bold] wrote: total debt must be in the region of 80 million , expect a firesale.[/p][/quote]Do you remember how much money you get for staying in the prem or does your memory not go back that far, where-as you get about 70p finishing where you are in the league Folkestone Saint
  • Score: 20

9:24am Mon 31 Mar 14

Seedhouse the Unrepentant says...

Folkestone Saint wrote:
Bobs Your Uncle ? wrote:
total debt must be in the region of 80 million , expect a firesale.
Do you remember how much money you get for staying in the prem or does your memory not go back that far, where-as you get about 70p finishing where you are in the league
Lol
[quote][p][bold]Folkestone Saint[/bold] wrote: [quote][p][bold]Bobs Your Uncle ?[/bold] wrote: total debt must be in the region of 80 million , expect a firesale.[/p][/quote]Do you remember how much money you get for staying in the prem or does your memory not go back that far, where-as you get about 70p finishing where you are in the league[/p][/quote]Lol Seedhouse the Unrepentant
  • Score: 15

9:39am Mon 31 Mar 14

jezza says...

Can the financial situation really be that much of a concern to the Board when the former Financial Director has only just been promoted to Chief Executive?

I think the comment "it is what it is" shows how unconcerned the Board are about this and, as already stated above, given how much money the Premiership clubs get per place in the League, we are probably already £20+ million better off this year than we might have budgeted for at the start of the season anyway.

The man has said no sales are necessary, there are good staff going forward, and there is money available to complete the job in progress.

The future still sounds great to me.

COYS
Can the financial situation really be that much of a concern to the Board when the former Financial Director has only just been promoted to Chief Executive? I think the comment "it is what it is" shows how unconcerned the Board are about this and, as already stated above, given how much money the Premiership clubs get per place in the League, we are probably already £20+ million better off this year than we might have budgeted for at the start of the season anyway. The man has said no sales are necessary, there are good staff going forward, and there is money available to complete the job in progress. The future still sounds great to me. COYS jezza
  • Score: 19

10:55am Mon 31 Mar 14

Tirau Dan says...

panic merchants abound... ease up folks
sky money will be 45-50 mil

good they are being open and talking to us.
also good they are budgeting for the new seasons transfers
I would like to know more about the staplewood blow out..
panic merchants abound... ease up folks sky money will be 45-50 mil good they are being open and talking to us. also good they are budgeting for the new seasons transfers I would like to know more about the staplewood blow out.. Tirau Dan
  • Score: 8

11:25am Mon 31 Mar 14

OSPREYSAINT says...

How do we compare with the rest of the Premier Teams at this time?
How do we compare with the rest of the Premier Teams at this time? OSPREYSAINT
  • Score: 6

11:57am Mon 31 Mar 14

George4th says...

Sad to hear Hofstetter speak in such a way. If that's a sign of his ongoing quotes then be prepared for a rough ride!

The club have intentionally moved forward the way they have knowing that the value of Saints had multiplied from the original £13.5 million investment and now enjoy Premier League/Sky Money too!! The books reflect a truer value of the club and this was always known, hence the additional investment.
(And that's without the player value that has increased enormously under Cortese!)

Looks to me like an an attempt to smear Cortese.

It more strange because the new CEO was the Chief Financial Officer from 2011!
Sad to hear Hofstetter speak in such a way. If that's a sign of his ongoing quotes then be prepared for a rough ride! The club have intentionally moved forward the way they have knowing that the value of Saints had multiplied from the original £13.5 million investment and now enjoy Premier League/Sky Money too!! The books reflect a truer value of the club and this was always known, hence the additional investment. (And that's without the player value that has increased enormously under Cortese!) Looks to me like an an attempt to smear Cortese. It more strange because the new CEO was the Chief Financial Officer from 2011! George4th
  • Score: 2

12:37pm Mon 31 Mar 14

marz194 says...

well i hope everything is ok with the money as i do feel we should spend some on more players in the summer. i hope the ticket prices dont go up as only yesterday i was contemplating on getting a season ticket for next season andi dont want it to be much more expensive than what it was this season otherwise it probably wont happen. so we sell osvaldo, get some money! though i thought aap3s sponsership runs out end of season lets get a massive new sponser for next season. how about the p&o cruises, they are based in southampton and must be mega rich!
well i hope everything is ok with the money as i do feel we should spend some on more players in the summer. i hope the ticket prices dont go up as only yesterday i was contemplating on getting a season ticket for next season andi dont want it to be much more expensive than what it was this season otherwise it probably wont happen. so we sell osvaldo, get some money! though i thought aap3s sponsership runs out end of season lets get a massive new sponser for next season. how about the p&o cruises, they are based in southampton and must be mega rich! marz194
  • Score: 2

1:22pm Mon 31 Mar 14

OSPREYSAINT says...

RED & WHITE..RED & WHITE wrote:
Don't worry get rid of Gully and Osvaldo problem solved !!!!
IT may be a good idea but somehow I don't think it will help financially, and the neggies will have to concentrate on slagging Josh and Jose instead.
[quote][p][bold]RED & WHITE..RED & WHITE[/bold] wrote: Don't worry get rid of Gully and Osvaldo problem solved !!!![/p][/quote]IT may be a good idea but somehow I don't think it will help financially, and the neggies will have to concentrate on slagging Josh and Jose instead. OSPREYSAINT
  • Score: 1

5:38pm Mon 31 Mar 14

redsnapper says...

OSPREYSAINT wrote:
RED & WHITE..RED & WHITE wrote:
Don't worry get rid of Gully and Osvaldo problem solved !!!!
IT may be a good idea but somehow I don't think it will help financially, and the neggies will have to concentrate on slagging Josh and Jose instead.
I guess Fontes Bentley only turns left like all his passes.--any other direction and he gets lost ....or more correctly the ball does.

Definitely need more competition for CH position more than anywhere else in the first XI
[quote][p][bold]OSPREYSAINT[/bold] wrote: [quote][p][bold]RED & WHITE..RED & WHITE[/bold] wrote: Don't worry get rid of Gully and Osvaldo problem solved !!!![/p][/quote]IT may be a good idea but somehow I don't think it will help financially, and the neggies will have to concentrate on slagging Josh and Jose instead.[/p][/quote]I guess Fontes Bentley only turns left like all his passes.--any other direction and he gets lost ....or more correctly the ball does. Definitely need more competition for CH position more than anywhere else in the first XI redsnapper
  • Score: -6

7:31pm Mon 31 Mar 14

OSPREYSAINT says...

redsnapper wrote:
OSPREYSAINT wrote:
RED & WHITE..RED & WHITE wrote:
Don't worry get rid of Gully and Osvaldo problem solved !!!!
IT may be a good idea but somehow I don't think it will help financially, and the neggies will have to concentrate on slagging Josh and Jose instead.
I guess Fontes Bentley only turns left like all his passes.--any other direction and he gets lost ....or more correctly the ball does.

Definitely need more competition for CH position more than anywhere else in the first XI
I think a few of us said that during the previous Window, and the one before that, and possibly the one before that, not mention the previous one to that, but it didn't happen, perhaps we will find a nice little gem in the next one if we have any loot left in the coffers.
[quote][p][bold]redsnapper[/bold] wrote: [quote][p][bold]OSPREYSAINT[/bold] wrote: [quote][p][bold]RED & WHITE..RED & WHITE[/bold] wrote: Don't worry get rid of Gully and Osvaldo problem solved !!!![/p][/quote]IT may be a good idea but somehow I don't think it will help financially, and the neggies will have to concentrate on slagging Josh and Jose instead.[/p][/quote]I guess Fontes Bentley only turns left like all his passes.--any other direction and he gets lost ....or more correctly the ball does. Definitely need more competition for CH position more than anywhere else in the first XI[/p][/quote]I think a few of us said that during the previous Window, and the one before that, and possibly the one before that, not mention the previous one to that, but it didn't happen, perhaps we will find a nice little gem in the next one if we have any loot left in the coffers. OSPREYSAINT
  • Score: 2

7:36pm Mon 31 Mar 14

OSPREYSAINT says...

OSPREYSAINT wrote:
RED & WHITE..RED & WHITE wrote:
Don't worry get rid of Gully and Osvaldo problem solved !!!!
IT may be a good idea but somehow I don't think it will help financially, and the neggies will have to concentrate on slagging Josh and Jose instead.
When I said that it wasn't an open invitation to neggies to come on and dis either player.
[quote][p][bold]OSPREYSAINT[/bold] wrote: [quote][p][bold]RED & WHITE..RED & WHITE[/bold] wrote: Don't worry get rid of Gully and Osvaldo problem solved !!!![/p][/quote]IT may be a good idea but somehow I don't think it will help financially, and the neggies will have to concentrate on slagging Josh and Jose instead.[/p][/quote]When I said that it wasn't an open invitation to neggies to come on and dis either player. OSPREYSAINT
  • Score: 3

8:45pm Mon 31 Mar 14

Bingo from Sholing says...

I too am concerned. I am concerned the salary of one highly effective lean executive director has been replace by expanding "fat" around the board room table. Back to the future? I am also concerned that an apparent bean counter Hofstetter has entered the English football industry. One can hardly envisage a club with more potential than the Saints at the moment yet Hofstetter is having trouble sitting in front of his spread sheet and understanding how the potential can be realised. Having read this article my Monday has just got much worse.
I too am concerned. I am concerned the salary of one highly effective lean executive director has been replace by expanding "fat" around the board room table. Back to the future? I am also concerned that an apparent bean counter Hofstetter has entered the English football industry. One can hardly envisage a club with more potential than the Saints at the moment yet Hofstetter is having trouble sitting in front of his spread sheet and understanding how the potential can be realised. Having read this article my Monday has just got much worse. Bingo from Sholing
  • Score: 0

8:56pm Mon 31 Mar 14

OSPREYSAINT says...

Bingo from Sholing wrote:
I too am concerned. I am concerned the salary of one highly effective lean executive director has been replace by expanding "fat" around the board room table. Back to the future? I am also concerned that an apparent bean counter Hofstetter has entered the English football industry. One can hardly envisage a club with more potential than the Saints at the moment yet Hofstetter is having trouble sitting in front of his spread sheet and understanding how the potential can be realised. Having read this article my Monday has just got much worse.
Never mind, just to cheer you up, West Ham are 1 up at Sunderland and Donkey Carroll scored it, doesn't that make you feel a lot better?
[quote][p][bold]Bingo from Sholing[/bold] wrote: I too am concerned. I am concerned the salary of one highly effective lean executive director has been replace by expanding "fat" around the board room table. Back to the future? I am also concerned that an apparent bean counter Hofstetter has entered the English football industry. One can hardly envisage a club with more potential than the Saints at the moment yet Hofstetter is having trouble sitting in front of his spread sheet and understanding how the potential can be realised. Having read this article my Monday has just got much worse.[/p][/quote]Never mind, just to cheer you up, West Ham are 1 up at Sunderland and Donkey Carroll scored it, doesn't that make you feel a lot better? OSPREYSAINT
  • Score: 0

9:02pm Mon 31 Mar 14

Agent Arry says...

too funny...over £80 mill in debt, the owner wants out and a £70 mill loan to pay back at £40 mill intrest...hmmm..£12
0 mill and sure to climb...KARMA is wonderful.
too funny...over £80 mill in debt, the owner wants out and a £70 mill loan to pay back at £40 mill intrest...hmmm..£12 0 mill and sure to climb...KARMA is wonderful. Agent Arry
  • Score: 0

9:07pm Mon 31 Mar 14

Skating on thin ice says...

This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on!

He is Chairman of the Board of Directors of Flawa,
http://www.flawa.ch/
de/b2c/unternehmen/m
anagement
who manufacture medical products, including those for people with incontinence and smelly feet.

He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence!
http://www.moneyhous
e.ch/en/u/cwl_sports
_ag_in_liquidation_C
H-440.3.017.730-6.ht
m

Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours!
http://www.monetas.c
h/htm/653/en/Current
-persons-responsible
-CWL-Sports-AG-in-Li
quidation.htm?subj=1
843182&MONETAS=f8295
7d7a12d3bec778f6f8cd
ba9057c
This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on! He is Chairman of the Board of Directors of Flawa, http://www.flawa.ch/ de/b2c/unternehmen/m anagement who manufacture medical products, including those for people with incontinence and smelly feet. He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence! http://www.moneyhous e.ch/en/u/cwl_sports _ag_in_liquidation_C H-440.3.017.730-6.ht m Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours! http://www.monetas.c h/htm/653/en/Current -persons-responsible -CWL-Sports-AG-in-Li quidation.htm?subj=1 843182&MONETAS=f8295 7d7a12d3bec778f6f8cd ba9057c Skating on thin ice
  • Score: 0

9:11pm Mon 31 Mar 14

OSPREYSAINT says...

Skating on thin ice wrote:
This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on!

He is Chairman of the Board of Directors of Flawa,
http://www.flawa.ch/

de/b2c/unternehmen/m

anagement
who manufacture medical products, including those for people with incontinence and smelly feet.

He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence!
http://www.moneyhous

e.ch/en/u/cwl_sports

_ag_in_liquidation_C

H-440.3.017.730-6.ht

m

Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours!
http://www.monetas.c

h/htm/653/en/Current

-persons-responsible

-CWL-Sports-AG-in-Li

quidation.htm?subj=1

843182&MONETAS=f
8295
7d7a12d3bec778f6f8cd

ba9057c
You are a busy body aren't you, is that right you are getting fired tomorrow for neglecting what you should be doing?
[quote][p][bold]Skating on thin ice[/bold] wrote: This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on! He is Chairman of the Board of Directors of Flawa, http://www.flawa.ch/ de/b2c/unternehmen/m anagement who manufacture medical products, including those for people with incontinence and smelly feet. He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence! http://www.moneyhous e.ch/en/u/cwl_sports _ag_in_liquidation_C H-440.3.017.730-6.ht m Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours! http://www.monetas.c h/htm/653/en/Current -persons-responsible -CWL-Sports-AG-in-Li quidation.htm?subj=1 843182&MONETAS=f 8295 7d7a12d3bec778f6f8cd ba9057c[/p][/quote]You are a busy body aren't you, is that right you are getting fired tomorrow for neglecting what you should be doing? OSPREYSAINT
  • Score: 2

9:18pm Mon 31 Mar 14

OSPREYSAINT says...

Agent Arry wrote:
too funny...over £80 mill in debt, the owner wants out and a £70 mill loan to pay back at £40 mill intrest...hmmm..£12

0 mill and sure to climb...KARMA is wonderful.
Who?
[quote][p][bold]Agent Arry[/bold] wrote: too funny...over £80 mill in debt, the owner wants out and a £70 mill loan to pay back at £40 mill intrest...hmmm..£12 0 mill and sure to climb...KARMA is wonderful.[/p][/quote]Who? OSPREYSAINT
  • Score: 1

9:21pm Mon 31 Mar 14

Skating on thin ice says...

OSPREYSAINT wrote:
Skating on thin ice wrote:
This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on!

He is Chairman of the Board of Directors of Flawa,
http://www.flawa.ch/


de/b2c/unternehmen/m


anagement
who manufacture medical products, including those for people with incontinence and smelly feet.

He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence!
http://www.moneyhous


e.ch/en/u/cwl_sports


_ag_in_liquidation_C


H-440.3.017.730-6.ht


m

Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours!
http://www.monetas.c


h/htm/653/en/Current


-persons-responsible


-CWL-Sports-AG-in-Li


quidation.htm?subj=1


843182&MONETAS=f

8295
7d7a12d3bec778f6f8cd


ba9057c
You are a busy body aren't you, is that right you are getting fired tomorrow for neglecting what you should be doing?
I do what I do, and nobody can fire me. I spend time investigating football finances, because I am interested in them. Thanks for the compliment on the other thread, where you said you would not know what to make of today's financial statement until I'd commented on it :-)
[quote][p][bold]OSPREYSAINT[/bold] wrote: [quote][p][bold]Skating on thin ice[/bold] wrote: This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on! He is Chairman of the Board of Directors of Flawa, http://www.flawa.ch/ de/b2c/unternehmen/m anagement who manufacture medical products, including those for people with incontinence and smelly feet. He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence! http://www.moneyhous e.ch/en/u/cwl_sports _ag_in_liquidation_C H-440.3.017.730-6.ht m Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours! http://www.monetas.c h/htm/653/en/Current -persons-responsible -CWL-Sports-AG-in-Li quidation.htm?subj=1 843182&MONETAS=f 8295 7d7a12d3bec778f6f8cd ba9057c[/p][/quote]You are a busy body aren't you, is that right you are getting fired tomorrow for neglecting what you should be doing?[/p][/quote]I do what I do, and nobody can fire me. I spend time investigating football finances, because I am interested in them. Thanks for the compliment on the other thread, where you said you would not know what to make of today's financial statement until I'd commented on it :-) Skating on thin ice
  • Score: -4

9:30pm Mon 31 Mar 14

OSPREYSAINT says...

Skating on thin ice wrote:
OSPREYSAINT wrote:
Skating on thin ice wrote:
This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on!

He is Chairman of the Board of Directors of Flawa,
http://www.flawa.ch/



de/b2c/unternehmen/m



anagement
who manufacture medical products, including those for people with incontinence and smelly feet.

He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence!
http://www.moneyhous



e.ch/en/u/cwl_sports



_ag_in_liquidation_C



H-440.3.017.730-6.ht



m

Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours!
http://www.monetas.c



h/htm/653/en/Current



-persons-responsible



-CWL-Sports-AG-in-Li



quidation.htm?subj=1



843182&MONETAS=f


8295
7d7a12d3bec778f6f8cd



ba9057c
You are a busy body aren't you, is that right you are getting fired tomorrow for neglecting what you should be doing?
I do what I do, and nobody can fire me. I spend time investigating football finances, because I am interested in them. Thanks for the compliment on the other thread, where you said you would not know what to make of today's financial statement until I'd commented on it :-)
I knew you couldn't resist it, why haven't you used your acumen to help the Blue Phew out? They need your help much more than we do.
[quote][p][bold]Skating on thin ice[/bold] wrote: [quote][p][bold]OSPREYSAINT[/bold] wrote: [quote][p][bold]Skating on thin ice[/bold] wrote: This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on! He is Chairman of the Board of Directors of Flawa, http://www.flawa.ch/ de/b2c/unternehmen/m anagement who manufacture medical products, including those for people with incontinence and smelly feet. He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence! http://www.moneyhous e.ch/en/u/cwl_sports _ag_in_liquidation_C H-440.3.017.730-6.ht m Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours! http://www.monetas.c h/htm/653/en/Current -persons-responsible -CWL-Sports-AG-in-Li quidation.htm?subj=1 843182&MONETAS=f 8295 7d7a12d3bec778f6f8cd ba9057c[/p][/quote]You are a busy body aren't you, is that right you are getting fired tomorrow for neglecting what you should be doing?[/p][/quote]I do what I do, and nobody can fire me. I spend time investigating football finances, because I am interested in them. Thanks for the compliment on the other thread, where you said you would not know what to make of today's financial statement until I'd commented on it :-)[/p][/quote]I knew you couldn't resist it, why haven't you used your acumen to help the Blue Phew out? They need your help much more than we do. OSPREYSAINT
  • Score: 4

10:13pm Mon 31 Mar 14

OSPREYSAINT says...

Skating on thin ice wrote:
OSPREYSAINT wrote:
Skating on thin ice wrote:
This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on!

He is Chairman of the Board of Directors of Flawa,
http://www.flawa.ch/



de/b2c/unternehmen/m



anagement
who manufacture medical products, including those for people with incontinence and smelly feet.

He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence!
http://www.moneyhous



e.ch/en/u/cwl_sports



_ag_in_liquidation_C



H-440.3.017.730-6.ht



m

Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours!
http://www.monetas.c



h/htm/653/en/Current



-persons-responsible



-CWL-Sports-AG-in-Li



quidation.htm?subj=1



843182&MONETAS=f


8295
7d7a12d3bec778f6f8cd



ba9057c
You are a busy body aren't you, is that right you are getting fired tomorrow for neglecting what you should be doing?
I do what I do, and nobody can fire me. I spend time investigating football finances, because I am interested in them. Thanks for the compliment on the other thread, where you said you would not know what to make of today's financial statement until I'd commented on it :-)
What is your take on the situation at QPR, a much more interesting source of interest I would imagine? However don't tell us, explain it to others.
[quote][p][bold]Skating on thin ice[/bold] wrote: [quote][p][bold]OSPREYSAINT[/bold] wrote: [quote][p][bold]Skating on thin ice[/bold] wrote: This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on! He is Chairman of the Board of Directors of Flawa, http://www.flawa.ch/ de/b2c/unternehmen/m anagement who manufacture medical products, including those for people with incontinence and smelly feet. He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence! http://www.moneyhous e.ch/en/u/cwl_sports _ag_in_liquidation_C H-440.3.017.730-6.ht m Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours! http://www.monetas.c h/htm/653/en/Current -persons-responsible -CWL-Sports-AG-in-Li quidation.htm?subj=1 843182&MONETAS=f 8295 7d7a12d3bec778f6f8cd ba9057c[/p][/quote]You are a busy body aren't you, is that right you are getting fired tomorrow for neglecting what you should be doing?[/p][/quote]I do what I do, and nobody can fire me. I spend time investigating football finances, because I am interested in them. Thanks for the compliment on the other thread, where you said you would not know what to make of today's financial statement until I'd commented on it :-)[/p][/quote]What is your take on the situation at QPR, a much more interesting source of interest I would imagine? However don't tell us, explain it to others. OSPREYSAINT
  • Score: 2

12:13pm Tue 1 Apr 14

OSPREYSAINT says...

Skating on thin ice wrote:
OSPREYSAINT wrote:
Skating on thin ice wrote:
This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on!

He is Chairman of the Board of Directors of Flawa,
http://www.flawa.ch/



de/b2c/unternehmen/m



anagement
who manufacture medical products, including those for people with incontinence and smelly feet.

He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence!
http://www.moneyhous



e.ch/en/u/cwl_sports



_ag_in_liquidation_C



H-440.3.017.730-6.ht



m

Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours!
http://www.monetas.c



h/htm/653/en/Current



-persons-responsible



-CWL-Sports-AG-in-Li



quidation.htm?subj=1



843182&MONETAS=f


8295
7d7a12d3bec778f6f8cd



ba9057c
You are a busy body aren't you, is that right you are getting fired tomorrow for neglecting what you should be doing?
I do what I do, and nobody can fire me. I spend time investigating football finances, because I am interested in them. Thanks for the compliment on the other thread, where you said you would not know what to make of today's financial statement until I'd commented on it :-)
You do what you do? What exactly is that, some kind of obsessive WUM? You have posted a series of links, but you have not explained what they are supposed to prove?
[quote][p][bold]Skating on thin ice[/bold] wrote: [quote][p][bold]OSPREYSAINT[/bold] wrote: [quote][p][bold]Skating on thin ice[/bold] wrote: This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on! He is Chairman of the Board of Directors of Flawa, http://www.flawa.ch/ de/b2c/unternehmen/m anagement who manufacture medical products, including those for people with incontinence and smelly feet. He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence! http://www.moneyhous e.ch/en/u/cwl_sports _ag_in_liquidation_C H-440.3.017.730-6.ht m Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours! http://www.monetas.c h/htm/653/en/Current -persons-responsible -CWL-Sports-AG-in-Li quidation.htm?subj=1 843182&MONETAS=f 8295 7d7a12d3bec778f6f8cd ba9057c[/p][/quote]You are a busy body aren't you, is that right you are getting fired tomorrow for neglecting what you should be doing?[/p][/quote]I do what I do, and nobody can fire me. I spend time investigating football finances, because I am interested in them. Thanks for the compliment on the other thread, where you said you would not know what to make of today's financial statement until I'd commented on it :-)[/p][/quote]You do what you do? What exactly is that, some kind of obsessive WUM? You have posted a series of links, but you have not explained what they are supposed to prove? OSPREYSAINT
  • Score: 1

6:41am Wed 2 Apr 14

st.athan saint says...

Skating on thin ice wrote:
This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on!

He is Chairman of the Board of Directors of Flawa,
http://www.flawa.ch/

de/b2c/unternehmen/m

anagement
who manufacture medical products, including those for people with incontinence and smelly feet.

He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence!
http://www.moneyhous

e.ch/en/u/cwl_sports

_ag_in_liquidation_C

H-440.3.017.730-6.ht

m

Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours!
http://www.monetas.c

h/htm/653/en/Current

-persons-responsible

-CWL-Sports-AG-in-Li

quidation.htm?subj=1

843182&MONETAS=f
8295
7d7a12d3bec778f6f8cd

ba9057c
I'd worry about finding the way to Salisbury if I was you !!!!
[quote][p][bold]Skating on thin ice[/bold] wrote: This bloke Hofstetter is on the board of at least a dozen other companies! It's a wonder he can remember which one he is meant to be commenting on! He is Chairman of the Board of Directors of Flawa, http://www.flawa.ch/ de/b2c/unternehmen/m anagement who manufacture medical products, including those for people with incontinence and smelly feet. He is also on the Board of a company called "CWL Sports" in Switzerland, which is just being liquidated! What an interesting coincidence! http://www.moneyhous e.ch/en/u/cwl_sports _ag_in_liquidation_C H-440.3.017.730-6.ht m Oh, and just LOOK at who is the President of CWL Sports! None other than our old mate Josef Lenhart, who was appointed to your Board in January and then sacked within 24 hours! http://www.monetas.c h/htm/653/en/Current -persons-responsible -CWL-Sports-AG-in-Li quidation.htm?subj=1 843182&MONETAS=f 8295 7d7a12d3bec778f6f8cd ba9057c[/p][/quote]I'd worry about finding the way to Salisbury if I was you !!!! st.athan saint
  • Score: 0

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