After Survival, What Now for the Club?

I am not known for slagging the club off, and I don’t intend to start here – however there are some things that should be said and I would like to say them, hopefully they will come over with respect.

According to some of the news outlets, the board have said the club is for sale and they want £25 million. If this is true, and I hope it is, this is good news in two ways.

Firstly it is the first time they have said we are definitely for sale publicly as far as I know.

Secondly the price seems a realistic one to me. The rumour I heard before is that they wanted around £50 million before. There was no way we’d be bought for that. They of course paid considerably more for the club – so they stand to make a huge loss regardless. But at least this proposed amount gives the chance of the club being bought.

Of course it could have been a lot worse if had gone down, but our last minute Houdini act, (in the spirit of Mick Harford!), means that at least they have an asset that can be sold.

Unfortunately the existing board’s position is untenable. With the debacle that surrounded Carson Yeung’s conviction, that situation meant that no investment could be made in the side. We have had to mainly depend on free transfers and loanees. Don’t get me wrong, we have had some decent players come in and do very good jobs for us, but to build a side there needs to be stability. This stability includes quality players that are not on loan, but are here permanently. Look at Leicester, Southampton, Swansea etc. All sides who are similar to us but have done well with a stable environment.

I know some won’t agree with this, but I am grateful to this board for giving me two of the best seasons in my time of following the Blues. (Since 1973!) We had that fantastic unbeaten run in the Premier League, including all those clean sheets and then went on to win our first major trophy in some 40 years. I KNOW the manager and players had to perform, HOWEVER no one will convince me otherwise that the investment from Yeung played a HUGE part in that. Many of the players playing then were there through his money. Yes I know there is the tainting of his subsequent conviction, but that for me, still doesn’t spoil it. So for that CY, thank you.

My friend Daniel who owns and writes the Often Partisan blog, has said that he believes that things will happen soon. I hope this is true, I have no reason to doubt it. The time has now come for the club to be run by new people. I urge the board to work hard to help find the appropriate people who will take the club on, invest in it, and once again give us the fans, (the only REAL constant in football), the opportunity to have some success at St Andrews again.

Kev

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3 Comments on After Survival, What Now for the Club?

  1. We all wish for a speedy sale of the club but I fear this will not happen. The club have avoided the dreaded drop and in normal conditions the club’s value would be around £25 million in the championship as opposed to half of that in division 1. However, without money to keep paying wages throughout the summer the club will technically be insolvent and unlikely to avoid going into liquidation. Any potential buyer will know this and by delaying the purchase may pick the club up for significantly less than the publicised £25m.
    I can see this rumbling on throughout the summer until Pannu has no option but to bring in the receiver at which point Blues get an automatic points deduction for next year. The receiver will then start the entire process of selling again by inviting offers. The knock on effect may delay any takeover well beyond the close of the august transfer window and with a threadbare squad and a 10 point deficit, next year is likely to be even more difficult than this irrespective of who owns the club. I really hope I’m wrong but as all us bluenoses know, nothing ever goes straight forward

  2. Might not be that dire, Clive. Administration would cripple us with the points deduction, and with what assets still available being used to pay off players and staff, there’d be nothing left to build a new club on, let alone a team. It would actually require greater investment to rebuild and with no continuity the likelihood is that we’d be another Coventry, spiralling even further downhill.
    No, anyone coming in will require a measure of foundation to rebuild the club upon, and the team with it. For that reason administration would not be in their interest.

  3. Hi Wingman Blue, in answer to your comments the only asset the club now controls is the ground which is worth £5m-£6m. I agree that if the club were wound up the ground would be sold for development to pay the administrators, wages etc. with nothing left. the administrators will therefore sell to the highest bidder. with a view to doubling the asset selling. so any potential buyers will wait and pay half of what is currently wanted. All this leaves the club in a terrible state of affairs coming into a new season and with a 10 point deduction it would have to be something spectacular in the second half of the season if we are to avoid relegation

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