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19 Jul 2018 10:30:49
We might actually be okay on the pitch this season as the Championship is not the hard league that everyone likes to say it is, the fact is that well organised teams do well in it and get promoted. Brighton, Cardiff, Burnley etc. all got up automatically over the last few years with very average workmanlike squads.
Our problem will come with off field distraction. I don't believe the club will be sold as it is such an unattractive proposition at the moment. It is also clear that Xia has no money to get out of the mess we are in. The worst thing that could happen is that a solid team on the pitch is undone by administration mid season. Unfortunately I fear that Xia would prefer this to losing face back home in China by admitting defeat and selling the club.
So many wanted Deadly to sell and even more were desperate for Lerner to sell but despite their faults there was never even the remotest possibility of insolvency. Sad times!
07 Jun 2018 13:48:22
Just can’t believe people are still blaming Lerner or others for this mess. It was clear from the outset that Xia had no moneyas people went searching for evidence of his wealth and came up with blanks. The excuse about not being able to get money out of China is a nonsense, Xia has invested nowhere near enough to fall foul of these regulations.
He has been let down by Managers who have both failed to use the money that has been invested to create an exciting team that blows the division away (Newcastle have done that twice now in recent memory and have done it very easily) .
But now the gamble has failed and Xia doesn’t have the money to cope, that is why he is scrambling around trying to secure loans that will keep the club going for 3-4 weeks more. It’s a drop in the ocean.
07 Jun 2018 17:00:12
Xia is not a billionaire, he barely has £5m to rub together. The thing about the Chinese govt is nonsense, those rules only kick in when investments abroad hit £500m, Xia has only invested £150m in Villa including his initial purchase of the club.
Remember when news broke of Xia’s takeover two years ago and everyone started searching to find out how much he was worth? Well they all drew a blank, why? Because there is no money! He gambled and borrowed on a one or two time shot of getting back to the premier and it has backfired. See Leeds and Ridsdale all those years ago. Bad managers failing to get the most expensive squad in the top two and a financial gamble that didn’t pay off! It’s as simple as that.
Now we do have to hope for a great June billionaire because nothing short of that will get us back to where we should be. Man City, Chelsea, PSG don’t seem to be complaining much.
12 Jun 2018 11:03:30
FFP is not an issue if your owner is prepared to gift the club money therefore underwriting spending. That is how clubs with genuinely wealthy owners have been able to get through FFP. Only when a owner starts wanting to run a viable business does this become an issue. The problem at Villa is that Xia’s money has only ever been in the form of loans meaning that they have a negative impact on the clubs balance sheet and show a very unprofitable organisation, which is not allowed under FFP.
FFP is not designed to stop wealthy people buying success, it is designed to stop clubs living way beyond their means by borrowing money they can never pay back (see Leeds and Pompey) .
Villas problem is that the club have borrowed the money from Recon and will owe it back, that money has now dried up I strongly suspect because it is starting to affect the viability of Xia’s broader business interests. Xia personally has not invested anything in Villa and never will, therefore we have the double whammy of facing FFP and an owner who can’t save us from that as he has no money to invest that he is prepared not to get back (if he did then he could gift the club a big sum of money and make all this go away, FFP and HMRC etc. )
Therefore the only way out of this is either a short term massive cash gift from a new wealthy owner or more realistically a 5 year restructuring programme to decimate the cost base and rebuild revenue from the bottom up. The latter probably involves some pretty painful years ahead unfortunately.