Mike Garlick

[GodIsADeeJay81]

Selling our best players to pay off ALK debts, what a grim disgraceful possible outcome but we don't seem to have a choice. Not to mention, we still have £60m to find to pay Garlick his instalments. Where's that coming from?

It's all been done to death on here, you're either not reading those comments or it isn't sinking in.

Chester in particular has done excellent work explaining it all

[jedi_master]

Selling our best players to pay off ALK debts, what a grim disgraceful possible outcome but we don't seem to have a choice. Not to mention, we still have £60m to find to pay Garlick his instalments. Where's that coming from?

I might be wrong but I don’t think that the money payable to Garlick is our problem (so to speak). The debt is for Alan Pace to pay back to then, with a default on the repayment meaning he hands the keys back to Garlick/Banaszkiewicz?

I understand your comment r.e disgraceful in having to use transfer money for debt - but we have to. If we do not, we could be the next Derby. We have to prioritise being debt free as we have absolutely no divine right to get back here soon (or ever, for that matter). I just want a stable club to support for the future, regardless of what league we play in.

[KRBFC]

It's all been done to death on here, you're either not reading those comments or it isn't sinking in.

Chester in particular has done excellent work explaining it all

Chester will tell you, we owe 60 million (ish) quid to Garlick still.

[KRBFC]

I might be wrong but I don’t think that the money payable to Garlick is our problem (so to speak). The debt is for Alan Pace to pay back to then, with a default on the repayment meaning he hands the keys back to Garlick/Banaszkiewicz?

Where do you think that money is gonna come from? ALK don't have it and probably aren't just gonna walk away.

[GodIsADeeJay81]

Chester will tell you, we owe 60 million (ish) quid to Garlick still.

Yes he will and we also have the MSD loan.
He has also explained other factors that you've continued to ignore and you've made outlandish claims that we will absolutely have to sell players to cover that debt with nothing to support your claim.

I'm going with it hasn't sunk in

[ksrclaret]

I'm in full agreement with Jedi. The money (hopefully) coming in from the sales of players should probably be used to pay off the debt we've now accrued. I'm no financial expert, but even I can see the interest would absolutely kill us in the Championship.

Priority upon relegation has to be securing the long-term safety of the club at the expense of throwing money around to try and mount a promotion challenge.

It's all very sad and ironic because I remember when Dyche first arrived and asked the directors "where has the PL money gone?". Well, he'll find himself asking the very same question some 10 years later.

[jedi_master]

Where do you think that money is gonna come from? ALK don't have it and probably aren't just gonna walk away.

I don’t know the repayment schedule on it, if it’s reasonable and if Garlick and John B are Burnley fans (as we were at one time led to believe!) then I cannot see it being ‘called in’ as the loan from MSD would. It’s a totally different proposition to the MSD loan, particularly when the creditors in this case know they have the security of the club to fall back on as repayment if Pace/ALK do a runner or cannot pay it back.

I hasten to add, I’m no expert obviously - I’ll defer to the more informed on here around all of this.

[KRBFC]

Yes he will and we also have the MSD loan.
He has also explained other factors that you've continued to ignore and you've made outlandish claims that we will absolutely have to sell players to cover that debt with nothing to support your claim.

I'm going with it hasn't sunk in

We can't allow debt to hang over our heads and hope to pay it off someday in the future.

Chester knows the details, we owe Garlick £60m in instalments, the whole handing back control is complete hearsay and sounds completely made up.

You've backed the awful financial model and everything ALK since the beginning, how's them taking Burnley to the top table going? you had this lala land theory we were gonna takeover shirt sales in Africa and grow our Twitter followers out of control, we were gonna become filthy rich off esports.

I'm not sure you're the one I should be listening to when it comes to this takeover, your wild predictions and theories have so far looked naive and extreme.

[Newcastleclaret93]

I'm in full agreement with Jedi. The money (hopefully) coming in from the sales of players should probably be used to pay off the debt we've now accrued. I'm no financial expert, but even I can see the interest would absolutely kill us in the Championship.

Priority upon relegation has to be securing the long-term safety of the club at the expense of throwing money around to try and mount a promotion challenge.

It's all very sad and ironic because I remember when Dyche first arrived and asked the directors "where has the PL money gone?". Well, he'll find himself asking the very same question some 10 years later.

What player sales? Anyone we sell will just be used to pay of the outstanding transfer amounts for 50-60m we spent this season

[ksrclaret]

What player sales? Anyone we sell will just be used to pay of the outstanding transfer amounts for 50-60m we spent this season

The likes of Pope, McNeil, Cornet, Weghorst, and Taylor will command interest and we'll be able to sell them. It might not be for anywhere near the value some think they're worth, probably because they're not worth that, and they'll probably end up being no more than squad players or going abroad again, but we will sell them if we want to.

And no, that's not the case. Transfer payments are spread over many years, usually for the duration of the contract awarded to the player bought. It's not the case that we'll suddenly realise we need to find £50m to pay it all off. It doesn't work like.

[jedi_master]

What player sales? Anyone we sell will just be used to pay of the outstanding transfer amounts for 50-60m we spent this season

That’s just guesswork though isn’t it? How do you have any idea how much we have thus far paid to Swansea, Lyon, Wolfsburg, Stoke? I take it Newcastle United have paid us a fiver so far for the £27m we received for Chris Wood?!

[IanMcL]

It's all very sad and ironic because I remember when Dyche first arrived and asked the directors "where has the PL money gone?". Well, he'll find himself asking the very same question some 10 years later.

This time he knows where the large sum in the bank plus millions more, with much more to come, has gone.

It is an anagram of lickgarandco.

Financial rape of a successful football club.

[KRBFC]

The likes of Pope, McNeil, Cornet, Weghorst, and Taylor will command interest and we'll be able to sell them. It might not be for anywhere near the value some think they're worth, probably because they're not worth that, and they'll probably end up being no more than squad players or going abroad again, but we will sell them if we want to.

And no, that's not the case. Transfer payments are spread over many years, usually for the duration of the contract awarded to the player bought. It's not the case that we'll suddenly realise we need to find £50m to pay it all off. It doesn't work like.

and where does the money come to replace those plus the 10 out of contract? If we're selling to pay off the £60m MSD loan like Jedi suggested?

[Newcastleclaret93]

That’s just guesswork though isn’t it? How do you have any idea how much we have thus far paid to Swansea, Lyon, Wolfsburg, Stoke? I take it Newcastle United have paid us a fiver so far for the £27m we received for Chris Wood?!

That’s why I said the outstanding balance of them sums.

[GodIsADeeJay81]

We can't allow debt to hang over our heads and hope to pay it off someday in the future.

Chester knows the details, we owe Garlick £60m in instalments, the whole handing back control is complete hearsay and sounds completely made up.

You've backed the awful financial model and everything ALK since the beginning, how's them taking Burnley to the top table going? you had this lala land theory we were gonna takeover shirt sales in Africa and grow our Twitter followers out of control, we were gonna become filthy rich off esports.

I'm not sure you're the one I should be listening to when it comes to this takeover, your wild predictions and theories have so far looked naive and extreme.

Wind your neck in.
I gave an opinion on how to grow a business based on my own experiences whilst you spout wild claims with nothing to support them.

You've clearly failed to get a firm grasp on any of this, you just keep saying the club will sell players to finance the debts when you know the square root of naff all about the deals, repayment plans etc.
In the event of relegation the deal won't be structured the same in the championship as it is in the PL, reference to that has been made on here, but you're not mentioning that part because it doesn't suit your agenda.

It's far easier for you to throw digs at me to cover your own ignorance instead of educating yourself on this subject, depsite having plenty of time and information available for you just on here.

Do I support the ALK takeover?
Something needed to change, that much was clear, these were the ones that provided a plan etc that was acceptable to our previous owners.
Whether I support it or not, it was going to happen, the difference is I don't weep and wail about it all the damned time.

Do I agree with the debt?
Who else was doing to buy the club, the Egyptian?
If not, then unfortunately debt was the only way it could happen and we've not been made aware of anyone else showing an interest since then, doesn't mean I agree with it but I understand it.

Am I willing to give our owners time?
Yes, unlike the many people who wanted Garlick gone and have since demanded instant results since ALK took over....

I don't make wild claims or theories, but it's interesting that you're not willing to pay attention to what I say when it's clear that you don't pay full attention to anyone else either, you just pick the parts you can use to make unsupported claims....

[ksrclaret]

and where does the money come to replace those plus the 10 out of contract? If we're selling to pay off the £60m MSD loan like Jedi suggested?

It doesn't. As Jedi also suggested, free transfers will be required.

[jedi_master]

and where does the money come to replace those plus the 10 out of contract? If we're selling to pay off the £60m MSD loan like Jedi suggested?

I did say in my post we’d need to use the free transfer and loan market to replace them (supplanted by parachute payments).

People need to remove any prospect of an ‘assault on promotion’ out of their heads as far as I can see. This relegation needs to be more of an ‘assault on stability’.

[THEWELLERNUT70]

Do you actually believe that he delivered in finding owners who seem to care about the club?

Honest question CT what's changed for you to have the opinion you now have regarding ALK, because pre take over you appeared to be quite happy with the chosen buyers?

[jedi_master]

That’s why I said the outstanding balance of them sums.

Yes and my point remains - you have no idea what the outstanding amount on those sums is! Nor do I of course, but you get my drift.

[Newcastleclaret93]

The likes of Pope, McNeil, Cornet, Weghorst, and Taylor will command interest and we'll be able to sell them. It might not be for anywhere near the value some think they're worth, probably because they're not worth that, and they'll probably end up being no more than squad players or going abroad again, but we will sell them if we want to.

And no, that's not the case. Transfer payments are spread over many years, usually for the duration of the contract awarded to the player bought. It's not the case that we'll suddenly realise we need to find £50m to pay it all off. It doesn't work like.

I think your being Optimistic.

No one in the premier league is going to be interested in Taylor or Pope. Especially not at the value we think.

Correct but let’s say we sell Cornet, McNeil and Weghorst for 40m that will be spread over 4-5 years roughly. Let’s say we paid of the debt using that money. That would cover the interest wouldn’t it? Not the actual debt itself.

[KRBFC]

In the event of relegation the deal won't be structured the same in the championship as it is in the PL, reference to that has been made on here, but you're not mentioning that part because it doesn't suit your agenda.


I don't make wild claims or theories, but it's interesting that you're not willing to pay attention to what I say when it's clear that you don't pay full attention to anyone else either, you just pick the parts you can use to make unsupported claims....

Paul was the one who guessed the £60m would be wiped upon relegation, Chester disagreed with this and debunked his theory I believe.

[KRBFC]

I did say in my post we’d need to use the free transfer and loan market to replace them (supplanted by parachute payments).

People need to remove any prospect of an ‘assault on promotion’ out of their heads as far as I can see. This relegation needs to be more of an ‘assault on stability’.

I agree with you too, it's a potential sad state of affairs aint it?
Selling our few remaining good players to pay someone elses debts, losing 10 out of contract and replacing them with patched up free transfers and loans. What a mess if that's the case, I think we have to prioritise becoming debt free ASAP though, we can't just hope to pay it off someday in the future.

[RVclaret]

Just to ease a few concerns on here about the finances if we go down. These are purely forecasts based on 1. Our recent accounts 2. West Brom’s recent accounts (shows how they adapted to loss of tv income, commerical income decreases, wage cuts etc).

Income

Broadcasting: 53 (includes 55% of PL TV money as year 1 parachute payments)
Ticket sales: 5
Commerical: 10

Turnover: 68

Wages: 40 (approx 90m in our last accounts which also includes large bonus’ for staying up, I’ve forecasted 10%, bringing the actual wage bill to around 80m, then a 50% wage cut)
Other expenses: 12
Interest payable: 5.4 (9% of 60m)

Expenses: 56.4

EBITDA: 11.6

I’m missing player amortisation off here and profit on player sales, which is on the real accounts, as it’s hard to know how deals this year got accounted for and which payments will have finished by the time of new accounts. But total in v total out would give a ‘net spend’ of 5m following the Wood sale.

That above suggests an 11.6m ‘profit’ (it won’t be after tax etc and not sure on amortisation / player profits) but also don’t forget interest on debt is tax deductible which acts in our favour - perhaps one of the accountants can shed more light on that assumption. Overall, year 1 in the Champ our finances don’t look that bad. I haven’t factored into the 50% wage cut 10 OOC players too and some big earners literally leaving, our 50% cut might even be bigger.

Plus I’d expect at least a couple of players to be sold, McNeil, Cornet possibly, Pope maybe. All would give substantial cash to provide a buffer for the following season, should be not good up, but also more than enough to build a very good squad.

[Newcastleclaret93]

I agree with you too, it's a potential sad state of affairs aint it?
Selling our few remaining good players to pay someone elses debts, losing 10 out of contract and replacing them with patched up free transfers and loans. What a mess if that's the case, I think we have to prioritise becoming debt free ASAP though, we can't just hope to pay it off someday in the future.

To be fair I’m still waiting to see this massive increase in non tv related revenue that DJ said would be easy to grow with new owners.

[ksrclaret]

I think your being Optimistic.

No one in the premier league is going to be interested in Taylor or Pope. Especially not at the value we think.

Correct but let’s say we sell Cornet, McNeil and Weghorst for 40m that will be spread over 4-5 years roughly. Let’s say we paid of the debt using that money. That would cover the interest wouldn’t it? Not the actual debt itself.

They will definitely be interested. I could easily see a Leicester for example taking Taylor as back up left back, or a West Ham taking Pope.

The sales of players would cover the debt owed to those not previously on the board of directors. That'll have to do.

[Newcastleclaret93]

They will definitely be interested. I could easily see a Leicester for example taking Taylor as back up left back, or a West Ham taking Pope.

The sales of players would cover the debt owed to those not previously on the board of directors. That'll have to do.

Really, I can’t see anyone being remotely interested in either.

Pope can’t play out from the back which rules him out from 95% of teams and Taylor is bang average.

[KRBFC]

Plus I’d expect at least a couple of players to be sold, McNeil, Cornet possibly, Pope maybe. All would give substantial cash to provide a buffer for the following season, should be not good up, but also more than enough to build a very good squad.

So where does the MSD £60m come from if the player sales cash it being reinvested in the squad/wages? I understand in an ideal world, ALK would've kept the club in the PL and kept paying MSD yearly interest with the intention of paying back the £60m upon the sale of the club.

[GodIsADeeJay81]

To be fair I’m still waiting to see this massive increase in non tv related revenue that DJ said would be easy to grow with new owners.

You're as bad as that other idiot, you two should get a room together.

I gave an opinion, it can be done and it needed to be done because the club has failed to capitalise on various revenue streams for years, we could all see it.

It was never going to be massive and it was never going to be instant.
If you had any clue you'd know that it takes time and patience to grow a business, especially after it's been left to stagnate and fall behind.

[jedi_master]

I think your being Optimistic.

No one in the premier league is going to be interested in Taylor or Pope. Especially not at the value we think.

Correct but let’s say we sell Cornet, McNeil and Weghorst for 40m that will be spread over 4-5 years roughly. Let’s say we paid of the debt using that money. That would cover the interest wouldn’t it? Not the actual debt itself.

I think we will very easily recoup, around:

Pope - £20m (Ramsdale had been abysmal prior to this season and yet commanded £25m-ish upon relegation, albeit younger)
Cornet - £20m (The media have not yet cottoned on to the fact he’s actually pretty rubbish, hype based on his early form will see someone in the lower half of the PL or a foreign club take him)
McNeil - £25m (Has had a very poor season but is liked by many, many clubs and is still a media darling despite his statistical regression)
Weghorst - £10m (we might be able to flog to a foreign club, he’s very proven in the Bundesliga so there will be no shortage of interest from there)

I don’t think Taylor will get much of a sniff, he’s been appalling this season. A surprising target for some clubs might be Josh Brownhill who has started to sparkle recently, is a good age, and has a good media profile (been linked with bigger clubs already a year or so ago).

Those players bring in £60-65m minimum in this market - whether they’re actually worth that is a moot point!

We will then have a bin bag of ageing players on massive wages leaving us on frees, allowing replacement with a younger profile from the free transfer market. Rodriguez, Cork, Westwood, Lennon, Bardsley, Pieters, Vydra etc (Pieters to possibly be kept if willing) should all go I would say. What’s that a saving of one wonders? Then add on the ones who will leave of their own volition (Tarkowski and Mee) and I would suggest the financial side of things can be remedied almost instantly when we go down.

Replacements won’t be as good, they’ll be cheaper and have an element of lower league gamble to them but maybe that’s what’s needed? Dyche also needs to utilise the loan market this summer, 100%.

[Newcastleclaret93]

You're as bad as that other idiot, you two should get a room together.

I gave an opinion, it can be done and it needed to be done because the club has failed to capitalise on various revenue streams for years, we could all see it.

It was never going to be massive and it was never going to be instant.
If you had any clue you'd know that it takes time and patience to grow a business, especially after it's been left to stagnate and fall behind.

But the point is it hasn’t been done and as result look where we are.

You were calling posters idiots back then for saying it was not going to be possible.

[KRBFC]

Replacements won’t be as good, they’ll be cheaper and have an element of lower league gamble to them but maybe that’s what’s needed? Dyche also needs to utilise the loan market this summer, 100%.

Don't worry, I'm currently watching Jeonbuk Hyundai Motors v Sangju Sangmu in the K League, I'll report any findings on the summer KRBFC scouting list.

[RVclaret]

So where does the MSD £60m come from if the player sales cash it being reinvested in the squad/wages? I understand in an ideal world, ALK would've kept the club in the PL and kept paying MSD yearly interest with the intention of paying back the £60m upon the sale of the club.

Without knowing the arrangements of the loan, I’m sure MSD aren’t unhappy at collecting a 9% return every year purely from interest. While we have parachute payments it doesn’t seem too problematic (even less so in the PL) to manage but after parachutes run out that’s when we probably have to start selling players to pay off the loan and thus reducing interest payments.

[KRBFC]

But the point is it hasn’t been done and as result look where we are.

You were calling posters idiots back then for saying it was not going to be possible.

I often get called an idiot, a year later people realise what I meant. I'm just ahead of the game.

[GodIsADeeJay81]

But the point is it hasn’t been done and as result look where we are.

You were calling posters idiots back then for saying it was not going to be possible.

It is being done, there are signs of growth in various areas.

Social media activity has improved, the twitter and insta accounts do more, getting people like Vizeh involved does actually help.

The removal of local sponsors from inside the ground to the new electronic board at the light's to allow for larger national/international ones has happened.

We've had Covid to deal with so international tours haven't happened, but that's the another logical step.

Just because people like you can't see the changes, doesn't mean they aren't happening and I'd like to reiterate my point that changes take time, they're gradual but they are happening.

[KRBFC]

Without knowing the arrangements of the loan, I’m sure MSD aren’t unhappy at collecting a 9% return every year purely from interest. While we have parachute payments it doesn’t seem too problematic (even less so in the PL) to manage but after parachutes run out that’s when we probably have to start selling players to pay off the loan and thus reducing interest payments.

Waiting until after the parachute payments have disappeared and the money from selling our remaining good players has gone to address loans sounds like an absolute car crash of an idea.

[BurnleyFC]

Our club will look very different next season, that’s for sure.

I wouldn’t be at all surprised to see a new manager, another new chairman and a completely different playing squad.

Exciting times indeed.

[RVclaret]

Our club will look very different next season, that’s for sure.

I wouldn’t be at all surprised to see a new manager, another new chairman and a completely different playing squad.

Exciting times indeed.

I’d be very surprised to see a new manager as this one is bigger than the club, I mean, he forced the previous chairman into a sale which has put us in debt. Also, given Pace has spoken about a plan for relegation I’d be very surprised to see him not there next season. Different playing squad, If Dyche gets his way it won’t be and most of those OOC players will re sign.

[Newcastleclaret93]

I often get called an idiot, a year later people realise what I meant. I'm just ahead of the game.

Yep, I know the feeling.

[ClaretTony]

Honest question CT what's changed for you to have the opinion you now have regarding ALK, because pre take over you appeared to be quite happy with the chosen buyers?

Based on what I was being told by a number of people. I'd no idea at the time that it was a leveraged buyout that would leave us with less cash in the bank and a loan hanging over us.

[aggi]

So where does the MSD £60m come from if the player sales cash it being reinvested in the squad/wages? I understand in an ideal world, ALK would've kept the club in the PL and kept paying MSD yearly interest with the intention of paying back the £60m upon the sale of the club.

I'd say that will likely be the plan even if we go down. The first season down is the best chance to go up and I'd be very surprised if ALK didn't push on that.

ALK loan money to clubs outside of the premier league, it's not a new situation for them.

[RVclaret]

I'd say that will likely be the plan even if we go down. The first season down is the best chance to go up and I'd be very surprised if ALK didn't push on that.

ALK loan money to clubs outside of the premier league, it's not a new situation for them.

Think you mean MSD in the second paragraph. But yeah agree with your point. Statistically the first season down is the best chance to bounce straight back up. It’s why the EFL clubs keep complaining about the unfairness of parachutes.

[KRBFC]

I'd say that will likely be the plan even if we go down. The first season down is the best chance to go up and I'd be very surprised if ALK didn't push on that.

ALK loan money to clubs outside of the premier league, it's not a new situation for them.

but I'd assume we wont be selling our remaining good players and reinvesting the majority of those funds, more likely we'll try to keep them here for a year.

[RVclaret]

but I'd assume we wont be selling our remaining good players and reinvesting the majority of those funds, more likely we'll try to keep them here for a year.

Depends on who might want to leave if there is interest. Will WW and MC still be picked for their countries playing in the Champ? And our problem in recent seasons perhaps has been NOT selling players when good offers have come in. If £40m comes in for a few players, even half of that reinvested in the Champ could see us with a very strong squad.

[KRBFC]

Depends on who might want to leave if there is interest. Will WW and MC still be picked for their countries playing in the Champ? And our problem in recent seasons perhaps has been NOT selling players when good offers have come in. If £40m comes in for a few players, even half of that reinvested in the Champ could see us with a very strong squad.

But there's zero guarantees of future income to pay debt once we've reinvested from selling our current good players.

[Shaggy]

But there's zero guarantees of future income to pay debt once we've reinvested from selling our current good players.

And that’s where Dyches transfer failings are going to really hurt us. We don’t have any players in the conveyor belt ready to come through and take their place or sell on for a profit.

[Willieonthewing]

Based on what I was being told by a number of people. I'd no idea at the time that it was a leveraged buyout that would leave us with less cash in the bank and a loan hanging over us.

The trouble is, it would appear that the cash in the bank wasn't being built up for the benefit of the club, just for certain individuals

As far as I can see the current owners haven't done anything so badly wrong in the day to day running of the club, to justify people's changing opinion of the club, so that now everything that happens seems to get criticised

[DCWat]

It is being done, there are signs of growth in various areas.

Social media activity has improved, the twitter and insta accounts do more, getting people like Vizeh involved does actually help.

The removal of local sponsors from inside the ground to the new electronic board at the light's to allow for larger national/international ones has happened.

We've had Covid to deal with so international tours haven't happened, but that's the another logical step.

Just because people like you can't see the changes, doesn't mean they aren't happening and I'd like to reiterate my point that changes take time, they're gradual but they are happening.

You can be pretty sure that the deals for larger, well known brands will reduce significantly in the Championship.

The ‘for the perfect erection’ hoardings will be back up in no time!

[randomclaret2]

You can be pretty sure that the deals for larger, well known brands will reduce significantly in the Championship.

The ‘for the perfect erection’ hoardings will be back up in no time!

Things have gone wrong since the day they came down , one limp performance after another

[Steve-Harpers-perm]

We’ve never brought mass amounts of players in over a summer which is what would need to happen if we let the majority of our out of contract players leave.

[ClaretPete001]

This old tale - I am still waiting (it has been over a year now) for someone to show me evidence of this, preferably with an understanding about the accounts throughout his tenure (or at least or current run in the Premier League) taking in the overall costs of running a football club (you know the 250 or so people it employed on permanent contracts, the likely £1m plus on pitch maintenance a year, or the likely £5m+ annual cost of the Academy), and investing in all aspects of it (the millions spent on infrastructure including several £m on new dressing rooms players and manager's lounges).

do come on justify your claim with a reasoned and evidential argument, presenting facts not moaning about the players in the squad that the manager appeared to refuse to trade to move it forward.

I'm surprised by this Chester tbh. No one can provide evidence of the MGs motives; however, it seems clear that at some point a plan was hatched to sell the club. I can't say that MG decided not to spend any money in 2020/21 because of it but anyone can make assumptions. It is almost certainly a contributory factor in us losing our place in the Premiership with all the consequences that has for the club. I get the Brexit argument but as it turns out it seems very cautious indeed.

The reality is that any idiot can see that a leveraged buyout of a club Burnley's size is untenable if we cannot retain our place in the Premiership. As you have pointed out yourself, ALK have no money. It's principal player was a bank employee in 2019. As we all know 17 Premiership owners are billionaires and another 6 or 7 in the Championship.

One simple fact needs to be explained: if we cannot get back into the Premiership within 3 years how can a club with a turnover of less than £20 million meet a debt of £5 - 6 million per annum to MSD?

Even if you write off the £68 million to the former owners and accept that there are £50 per cent cuts in wages relegation clauses it still doesn't work. If you look at Blackburn, Hull, Stoke and West Brom it's clear the trajectory of a club that is relegated.

Some defy gravity like Watford but they have invested huge sums investing in the squad, which Burnley cannot do because MG and colleagues have it all.

Genuine question: why do you feel that he had to sell to ALK because I can't imagine he had £128 million plus invested in the club or needs that kind of money.