redrobo wrote:Andy D wrote:Let's not forget we get parachute payment's if we go down
But get the feeling this is why Jason wants to hang around that bit longer so he can pocket it.
Please explain to me where that will happen....
How many more times does the BoDs have to say that money that comes into the club such as the above is used to fund our club on a daily basis.
Because the interest on the loans will remain the same.
This year:
£1 million loan at 20%.
£200,000 paid to Whittingham.
Next year:
Loan remains the same,
£200,000 paid to Whittingham.
Last year:
Loan was £1 million.
£200,000 was paid to Whittingham.
Forever more:
£200,000 paid to Whittingham...
Okay, I don't know how big the actual debt is, or what interest rate, but the accounts show an enormous amount of the club's income is going out on interest payments. That remains the same, even though our income is greatly reduced if we're relegated to the National League. If we go down again, as I think there would be a high likelihood, we'd have National League North income, and still have the same interest payments. At that point, we go under.
If you were Whittingham, being given £200,000 (or whatever) every year, then what's your motivation to move off? Promoted to League One or relegated to National League North, he still gets the £200k.
The only way to survive is to get rid of Whittingham. If he sees a '
Not a Penny More' campaign gain traction, then
perhaps he'd decide that the time had arrived, to get out. Anything else, in my opinion, simpy increases Whittingham's wealth while postponing the inevitable for a short time.
All of that said, if we do have a miracle escape, and remain in League Two, then we're into groundhog-day, and have to support the club 100%.