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Dave D

FSG are not shit

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FSG wouldn't sell us for 1 billion. They priced a minority stake in the club at 1 billion about a year ago... from a Chinese consortium. 

 

We have no real idea what deal they would strike with any potential investor. Who knows whether there is anyone prepared to buy out FSG in full or there are just those interested in taking a minority stake,  The valuations being passed around are just back of a fag packet numbers . Some very highly paid people will be looking at the balance sheet, P+L and earnings potential right now, It's the last one that is tricky because a lot hinges on success on the pitch; in particular CL qualifications,  Any sale or part sale will be heavily caveated to cover the first few years under new ownership in much the same way add -on's are triggered in player sales,  Any figures we do get to hear about will never be the true valuation or the final price paid . I think on balance FSG will get out.  They have owned us for quite some time now ; 7 years heading up a turnaround business is probably longer than they envisaged and whether it's 1 billion or whatever there is going to be a very healthy return for them .

 

My heart agrees with Grinch when he says new owners are the only chance we have of competing but I fear new investors will see the FSG model and judge they too can follow a similar path and hit another jackpot . Frying pans and fires are probably the order of the day   

especially if it's a Chinese consortium and the irony may well be when , in a couple of years time, we wistfully dream of the halcyon days of FSG !

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If they are planning to sell it would explain our limited investment last summer. As other's have posted I fear the day's of billionaire sugar daddies are over. We're a cash cow now for any investment group.

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Profits being swallowed up by transfer fees could be another factor. They got us on the cheap anyway. If they sold for a billion they'd still make a 700m profit. Works out to 100M per season they've owned us with just a single trophy to show for it. Pretty good going. You could get title winning Leicester for far less

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Good to see the Echo drawing light on this now -- however meaningless it proves. Hicks and Gillett were displaced by their own financial incompetence: FSG will make no such mistake. Hicks & Gillett were the emotional, buccaneering cartoon cowboys. Henry, with his slits-for-eyes, is every inch the cold calculating capitalist. FSG will leave on their own terms.

 

What that article fails to mention from a spend point of view is the salary bill: I'd wager Arsenal's is significantly higher than ours (they have, at least, shown ambition to have Sanchez/Oezil on mega-contracts). Factor the wages in, and United/Chelsea/City don't merit even mentioning in the same bracket as ourselves. 

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Has anyone really believed FSG had a model that would bring us success on the pitch ?

Been obvious to me for years that their refusal to pay market rates for proven quality players and to be so heavily focused on sell-on values was part of the profile of venture capitalists only interested in a medium term strategy to stabilise the business, strengthen its balance sheet and flip it on for a healthy profit, I have no doubt they cast very envious eyes at the Arsenal model and the enormous cash cow they became, The Mancs now, much as I despise them, are prepared to spend a fortune on established players to win titles , They see that as the way to add value to their brand and rake in the cash. Much more appetite for speculation and risk than FSG. My great fear is we will just end up with a similar set of accountants running the club .  

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They have to go this season or we're done. It's so obvious we're on the last legs of our journey to nowheresville. If one cup in 7 years doesn't do it for you, I don't know what the fuck it would take. Constant lies and bullshit, no spend and we're falling away into Villa territory. Fuck those who defend them and say careful what you wish for. This is shit. They are shit. Get fucking rid. 

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FSG net spend on players in seven years - £163.985m

Average per year - £23.426m

 

 

You can find out what we spend on transfers from our annual accounts, we don't have the last 4 windows of spending yet, but the accounts show a significantly higher number than this.

 

Never trust a football journalist when they are talking about finances unless they have a track record of knowing what they are talking about.

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You can find out what we spend on transfers from our annual accounts, we don't have the last 4 windows of spending yet, but the accounts show a significantly higher number than this.

 

Never trust a football journalist when they are talking about finances unless they have a track record of knowing what they are talking about.

So we dont have the numbers for the mostly positive net spend windows.

 

Wonder why the numbers are higher?

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They have to go this season or we're done. It's so obvious we're on the last legs of our journey to nowheresville. If one cup in 7 years doesn't do it for you, I don't know what the fuck it would take. Constant lies and bullshit, no spend and we're falling away into Villa territory. Fuck those who defend them and say careful what you wish for. This is shit. They are shit. Get fucking rid.

While I am in no way defending FSG,you do have to be very careful what you wish for. While Arab owners,for example, may splash the cash going through managers like socks and attendance cost rocketing are the price we will have to pay,both literally and figuratively.

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They arent proving to be all that but its a strange phenomenon when we are saying as fans "they have to go" or "get rid" when talking about the actual owners  like they are an underperforming left back.

 

They may well have to go, but it will be on their terms whether we like it or not 

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They arent proving to be all that but its a strange phenomenon when we are saying as fans "they have to go" or "get rid" when talking about the actual owners  like they are an underperforming left back.

 

They may well have to go, but it will be on their terms whether we like it or not 

the problem is Dave they are going nowhere, new tv deal being negotiated, trying to secure a bigger stake of the overseas deal, not really investing in the squad. all this and its only a minority of fans that are asking for them to go.

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the problem is Dave they are going nowhere, new tv deal being negotiated, trying to secure a bigger stake of the overseas deal, not really investing in the squad. all this and its only a minority of fans that are asking for them to go.

I dont disagree at all, its just the terminology used is weird.

 

We cant "get rid" if we so choose- they are the owners.  

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The fact of the matter is that they are absolute failures when it comes to what we as fans care about.

 

They are overseeing the clubs worst period of on the pitch performance since the 50's.

 

The sick part of it is that they are making a fucking fortune whilst doing so.

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So we dont have the numbers for the mostly positive net spend windows.

 

Wonder why the numbers are higher?

Not yet, but it was only 1 (maybe) positive window, one just gone we still spent a decent amount I think.

 

The number is higher probably because of things like add ons, agent fees and maybe signing on fees too.

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