Aston Villa in debt to the tune of £63 million, Martin Jol fears Aston Villa and Reo-Coker is staying
Wednesday, 08 October 08, 01:43 PM · Comments (140)
Martin Jol is a very good manager and he's got a team, that for me, are the biggest threat to us winning this group we've found ourselves in. Ajax and Slavia Prague will be tough, no doubt, but Hamburg are the team to fear.
However, Jol seems to think we are favourites - but I guess he has to say that because it really is between them and us, however I think he is right but I also think that the Hamburg match is the match that could determine who finished top of the group, so I'll be heading out to Germany to support the team.
Moving on from European football to something a little closer to home; Reo-Coker says he is happy and doesn't want to move back to London and while that is exactly what I wanted him to say after the rumours started, I can't help but feel there is no smoke without fire.
Still, for now, it's exactly what I wanted to hear and there is nothing that can happen in October and at the end of the day, I can only see him leaving for a team higher up the table than us who will regularly play him in central midfield and while I can see him commanding that in the future, I can't see it at the moment.
I'm happy. I'm enjoying myself and I'm playing football week in, week out. I'm hitting form and that's all there is to say. If I wasn't happy I wouldn't be playing the way I have been.
That is almost it, but Luke just pinged me a link to an article that says the club are in £63mn. of debt. Now, I'm not entirely sure where they get these figures from but it sounds about right, but it's worth knowing why so I'm going to take a guess.
Now, we know that Randy Lerner and his family have a few quid and it's fair to assume that when you've got a few quid you've got some quite intelligent people around you telling you how to not lose your money.
So, for coming up with a reason as to why we're £63mn. in debt I look to these smart people and try to think what they would have told Randy and the only thing I can come up with is this; you borrow from a particular bank at 2% and you loan it, via a shell company, to your other company at 3% interest.
The business that has borrowed it, that can afford it, then pays you back and you pay the bank back and you make a percent, or more, depending on what you've borrowed at and what you're getting repaid at.
So, while it is borrowing and it is a debt and Randy Lerner hasn't really put in any of his own money, it's just smart business. Well, that's my guess anyway and while they'll be loads of opinion on this the bottom line is we'll never know for sure, but one thing is for sure, Lerner bought Aston Villa to make money and this is one way it's going to happen.
I'm off for a beer.
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140 Comments · Add yours
Thought that this figure is what Randy has put into the club and therefore, the club owes him should he decide to quit. If not, where can you get these loans at 2% interest?????? ;-D
Damian -are you sure you havent already had one too many? What loans?
I used the percent as an example but if you want to borrow huge sums of cash through a line of credit you can pretty much go shopping for a loan and negotiate your percentage with any number of banks .. but the figure I've used is an example and while all I'm doing is guessing ... I'm also guessing that he's not actually using his own money, I don't know and only a few people will actually really know where it is coming from but it sort of makes sense to not use your own money and make money through other peoples money.
chris b
click the link in the post or click this one:
LINK
The Daily Mail writes a lot of rubbish these days, especially about football. The one about how Villa's attendances are getting smaller was hilarious, seeing as we have some of our highest average attendances for 40 to 50 years.
I've slated them for a few things and I wouldn't be surprised if they fabricated some of this article just to interest people.
Are you sure thats debt Damian? I was always under the impression that we were financially sound and had no debt!! Isn't that why Ellis spent 20 years penny-pinching?
Villa_Fan_Phil
I can only go on what the article in the paper says but like I've said above, I wouldn't be surprised. Look at it this way; if you have a guaranteed income for as long as you want but you also have say £50k in the bank and you need a new car. Do you spend your £50k or do you borrow the money and pay a little each month from your guaranteed money?
but ... Villa_Fan_Phil
the club is financially sound - which is why it's so easy to borrow and why Lerner doesn't actually have to put in any of his own money ...
Ok i see where you're coming from, so basically Lerner is running the club on the income that comes into the club i.e TV money and PL prize money etc etc!
Also, if you take a look at the bottom of the article there is a key which says
"(Source: Sports Business Group, Deloitte 2006-07; except *financial results for year ended May 2008; †estimated level of debt)"
We don't have a * or jesus cross next to our name of supposed level of debt so is this just the daily mail writing stupid articles!!
Told ya
I think Lerner's running the club brilliantly, I don't think we're in any serious money problems otherwise he wouldn't have spent £40 million on players over the summer.
By the way, I think I heard somewhere we were the third highest spending club on players in Europe over the Summer. When has that ever happened before?!?!
the debt is what Randy Lerner has spent net of any income such as TV revenue, merchandise, ticket sales etc. It is only debt if Randy Lerner decides to sell or if he has loaned the club the money and wants it back. It goes to show how much he has spent in the short time he has been here and not just on players. He's spent money on the ground, Bodymoor Heath, Holte Hotel etc.
And some people on this site have criticised him or questioned his commitment to AVFC. You know who you are!!!!
NRC wants a new contract with a rise to match the other players so his agent hints that he wants to return to London, he says he's happy at Villa, a club enquires about him in January and he either gets a new deal at Villa or a move somewhere else with a large signing on fee.
Ajax website seems to be saying that they will be in a battle with Sparta Prague for third place in the UEFA league. Hope they are right.
Spot on Keef, Nige left it a few days to say anything then comes out with how much he loves it here and just casually slips in the contract issues.
Randy isn't going anywhere so the debt isn't really valid.
By spending that much over the summer, he won't have to spend a lot next time or the time after.
its bound to have something to do with tax.
i heard from someone yesterday that spoke to dion dublin and he said that the reason he headbutted savage was because he called him a useless N*****. but after the match the other villa players poured a tin of gloss on savages brand new range rover.
load of rubbish ..... doug ellis kept villa of debt ... thats why sold randy leaner who got villa for good price and never been in debt its people ,press , and blues fan winding all up get the proof that villa in debt ..... as load rubbish ...
Dion, legend. Always nice to be reminded of that glorious moment. Thanks Samvilla.
the whole article is a joke apparently man city and chelsea are in huge debt, also man utd are, now.. manchester utd are not in any debt, the ppl that own the club are as they had to borrow money to buy the club, but manchester utd arnt in debt as arnt chelsea or man city, the articles a joke, villa arnt in any debt, daily mail is just making stuff up to make more doom and gloom about the economy, the only club thats in trouble is west ham, everyone else is fine.
It's just the perceived wisdom for developing businesses and property for the last decade really. If you don't have to, don't use your own capital. It makes obvious sense so long as you have the collateral to put against it, which The Lerner trust does. If the figure of £63m against a total wealth of over a billion is correct, it's (relatively) a miniscule debt.
Seeing as this £63m debt figure appeared in a tabloid newspaper, should we really be debating it? Why give this newspaper and others the satisfaction of accepting what they say is true? They have almost certainly plucked this figure out of their imaginations, rather like Tony Blair did when coming up with reasons to invade Iraq.
As long as manageable debt and re-payment structures are in place then it is not a problem. Speculate to accumalate and all that.
Glad NRC came out and said what he did. An example to a certain Mr Barry.
63 mil, when your worth billions it really isnt anything to be botherd about is it.
Look at the bottom of the report:
"Source: Sports Business Group, Deloitte 2006-07; except *financial results for year ended May 2008; † estimated level of debt"
These figures are from accounts published in 2006-07, before the Lerner era. Slightly misleading to present times if you ask me.
How can we be in 63m in debt ????
We've had about 100m+ over the last three years on TV Revenue, last season we had like 45-50m in TV revenue that's not including all the sales etc etc, we shouldn't be in debt, It is coming together now, because there was other rumours saying we can't afford Barry's wages if we don't get into the Champions League, But saying that we still need a top class Striker.
The glazier's borrowed money to buy Man U. After they had purchased the club, they left it a few months, then Man U was mortgaged to pay the money of they had borrowed, around £600m. Man U hold the debt, despite this being wrong in principle. L Pool have gone through a similar process and owe about £300m. Arsenal have borrowed to build the stadium. Villa owe R Lerner £63m, not a bank, that is the difference. The mail online are similar to a lot of online media, flash headlines to get click through rates up.UTV
Manchester United are in debt, Chelsea are in debt, Aston Villa are in debt.
I know this might surprise a few people but Lerner is here to make money .. but he also knows that to make money out of a football club you have to be successful (the financial success of a football club can be directly linked to the success on the pitch) - but if you're not successful, atleast you can make on the interest payments.
Lerner will try to make Aston Villa successful by spending money but don't think for a minute that he's ever going to spend his own money.
He's an American here to make money .. come on people.
why are you all gettin worked up about... thats one of the lowest debts in the premier league
It was on sky sports news this mornin that chelsea are 756 mil in debt and man u are around 600 mil in debt, even fulham were 126 mil in debt
thats the way football clubs work!
has this article come out because uefa have said they will ban any teams with stupid amounts of debt, which is aimed at the english clubs as they ers fed up of the success in the champions league over the past few years
Seb Wrote:
By spending that much over the summer, he won't have to spend a lot next time or the time after.
i dont mean to sound harsh but did u see us against chelsea? i know they are wayyy above us be we have a not so good attacking force. cant say the defense is a whole lot better than last season yet we bought in a virtual new defense. 12 mil on Milner not to have plaed a game so mid field is pretty much the same. so that 40 mill in summer was seemingly spent in vein.
come next somer i think u find we will need to spend at least 60.
but i cld be wrong
i think we were way behind chelsea in confidence more than than talent, ok we got 4 points against them last year but less pressure than this season with everyone thinking we could break there unbeaten run which also inspired them, if we have a good run in uefa cup and league and they will get use to the pressure, they are good players and the experience will make them better
Forgive me if I get this wrong but I believe the figure of 63million given for the Mighty Villa is the value of our club was bought for by Mr. Lerner, otherwise Man City (believed and probably rightly so to be the now richest in the World are in dept of over 100M). No way on earth are Villa in dept of £1.00 let alone £63million...
I believe the great daily mail has made a boo boo and decided to list every clubs believed financial stature... however wrong that may be.
The reason why Villa was bought by Mr. Lerner for so little 3 glorious years ago was because we had no debt. Something I am forever grateful to Deadly Doug for.
The reason Man U is valued at £764m is simple, they owe most of that to a bunch of American banks... and Newcastle valued by Ashley at over £200m... hahaha... all debt!!!
The Mail has somehow managed to feck up, insert * and † and ‡’s all over the place and worry fans over teams that are no more in debt than some South American drug baron who keeps all his money in his mattress
It's just a feeling but I don't think they're making these figures up and that they've probably spoken to people or at the very least visited companieshouse.co.uk and downloaded the last filed accounts for each club and checked
Lerner is most definitely not spending his own money .. and I'd guess that he's not even guaranteeing the debt - as he doesn't have to; the club can
Every top club in the world is in "debt" it is just how they work it it with the massive wage bills and all the rest of it.It is nothing to worry about at all.If you want the club to have no debt then we can all go back to the ellis era because that was what ellis was doing by pennie picnhing not spemding and keeping the club debt free,Can`t have your cake and eat it..How you can say lerner is most definately not spending his own money unless you know the details of villas finances i don`t know.
Villan
You don't have to be a genius to work it out. If he was using his own money why would he have set up a company to buy Aston Villa?
But, if you want proof, head on over to companieshouse.co.uk or better still, get a free report listing the last five years of filed accounts at graydon.co.uk and showing you exactly where that debt is.
Thats how the Daily Mail can say it .. and that's how I can believe it.
What name did he use to buy the villa? Any with 'Aston Villa' in the name have been formed way before he came, 1997 is the latest.
Everytime I read your articles, I get a feeling you've not really researched anything you say and use rumours from the man in the pub. Why highlight Villa being in debt, there's many other clubs in stickier debts and I'm not convinced they really are in debt(Not heard of speculate to accumilate have you really). West Ham are claiming poverty, but that's just rubbish as they don't want to pay the compo to Sheff Utd and we all know it. Business men take risks mate and if they didn't they wouldn't be very good ones.
Keith Harris - financial expert and former league chief exec. (not the bloke with the duck!) was on talksport this morning. Aston Villa are not "in debt". The clubs expenditure is approx £63m more than its income however the money is owed to Randy Lerner (or the company that he set up to buy Villa) and isn't a debt but a business investment. If randy sells he would get far more for the club than he bought it for plus what is owing.
Don't worry guys, we can always go to Ocean Finance for some help! Or that one with Tuffnell advertising...
That debt figure will be a load of rubbish. We're on sound financial ground, and yes, we spent big this summer but that could all be recouped by revenue and, if need be, selling the players off again. That's why in general we take young talent- that way their value doesn't depreciate.
forget the debt, why can't i get into the forums!!!!!!!!!!!!!!!!aaaaaaagggghhhhhhhh
Are you paying too much for car insurance?
There are millions of different explanations for this, not just what you have said Damian. It's not that cut and dry.
The most likely if you ask me is that Lerner loans money to Villa on an interest free basis, but he wants it back in the future (if he was to sell the club). It's an investment. Just because Lerner owns Aston Villa that does not mean we own his money!! He owns the club and so money he puts in to the club is investment. He is not going to take loans on credit unless he can make more out of that money in interest - which is unlikely. Instead he invests money in the club, just like any investor would. We are probably in debt to lerner - who will take the money he invests back in the future in dividends.
It's nothing to worry about. Villa have always been a profitable club.
There is a significant difference between being in debt and carrying debt. You may be carrying 63m in debt against 630m in assets and its no big deal. It's all about debt to value ratio - if the debt increases faster than value increases, the club will be seen as a greater risk.
All this talk about debt is very one sided and just fear-mongering while the economy is tanking.
point is learner has invested into a club he owns so basically learner is in debt to himself!
simple business he owns a bank he used a line of credit set up rlholdings to invest his credit from the bank he then buys aston villa using that credit and all transfers and wages of all employers are paid by the revenue generated by the football club enabling him to pay of his own credit or debt as some people call it back to his own bank in which he loaned it from in the first place. as damian said he's not directly used his own money but a line of credit to run the club and the club pays him back with interest as well etc....
(p.s. learners never loaned more than the club generated revenue)
same as doug ellis!
he is only doing the same thing doug did! only doug got to old for the banks to keep giving him a line of credit
and i cannot sing into forum either edds
anyone know the reasons why?
sign not sing lol
HELP - Is the forum "down", or am I barred from it? I cannot log in.
You AND me Bob! What have we done to annoy the Mods?
I wonder if it's down as a result of the 'last post'?
think the teckies are messing about with it again i tried to log on at lunch time and got no luck either so its been down a while
Oh well, I suppose our midnight ramblings will just have to grace the front pages. Ha ha, that'll put off all sane Villans forever. This is not blackmail Damian, only a prediction!! LOL
[url=LINK][img]LINK[/img][/url]
For anyone thats on Facebook iv created a group for the away trips to Prague & Hamburg!
As im going to the games, be good to get everyone together see what people's plans are for travel and the rest of it!
Thanks in advance
LINK
anybody at all got any info on why the whole oleole site seems to be down?
well yeh, but what about the credit crunch???!
it has put many other teams in debt apparently includin the big 4!
Maybe the scousers have nicked everything!!
stands a chance that sunnys not been around for a while lol....al part of his cunning plan me thinks!!!
Well we did warn that this may happen if we let them on our blog lol
Wot? The little scally has nicked the blog? B*stards, I knew we should have nailed it down.
damn scousers.......lol
nailed the blog or him andy?
Who's here anyway?? i have pm'd Eddie earlier on but he hasn't replied.
as far as i can tell just me you and andy.....
Sorry, I went to do some shopping (lager for the weekend).
I meant nail the blog down, but you are right - we should've nailed Sunny down instead, or put him down. LOL
If we stay here eventually Damian will be embarrassed into getting it up again. Should I rephrase that?
It's not just the K, it's the blog itself - I'm suffering withdrawal symptoms. I guess I'll have to talk to the guys at work now. The poor sods.
geese even google dont work
Hey guys I'm here....THey let me out to play back down at the asylum!
I was going to K Sam and Chez up for yesterday, but I see the forum is shut up shop...! Are they installing the Christmas Illumination for when we get back in?
I see no news on the front page today then...
I can get into the forum actually guys, but only the Aston Villa and Beautiful Game sections...!
Sorry guys a little bit of duff info above..! I can view the forum threads but not comment or give you K.....!!!
Just a thought, while I'm rambling on talking to myself...
Was this oleole thing all just a dream and/or just stuck in a timewarp and we are going back to the original AVFCBlog...!
prob just the teckies at oleole messed up somewhere aa
sods law aa i finally get a free night to have a piss up in the forum and no one can log in
I am seeing pink elephants in my delerium tremens (DT's). I will be a clean man tomorrow, no more K, no more blogging.
lol
Hey, Bob - there's no 10 character rule here. We should make this our new home, only it takes so long to update. I'm off home and if Damian has got it up by the morning I will be back on in the afternoon to discuss who we want from West Ham.
Probably some nob has tripped over the wire and pulled the plug out!!
damn those upside down people in there hot country lol put the plug back in the socket guys
i'll be logging out in a bit and i wont be back on till tomorrow evening
so night sam and andy
Am i the only one who remembers Lerner saying in a tv interview that he didn't know how anyone (with a couple of exceptions maybe) could make money out of a football club. the implication being of course that this is a hobby for him and not a business venture.
am i the only one who remembers or does everyone else think he's lying?
UUUrrrrmmmmmmm.
Damian, you know you wanted only responses to the News artticle and no off task behaviour.
LOcking all the nutters (including Nan) out of the forum is probably not the best way to avoid junk mail posting on the front door.
Let me in.
I'm getting withdrwael symptoms.
I need to see my virtual friends.
Let me in or I'll be forced to lead a real life with real people.
Last night I had to talk to my wife.
Nan.....I am sure you will have eft to teach the young-uns by now, but I feel sorry for your missus. Now that you have spoke to her does she think you must have done something wrong...?!
Bottom Field is still closed....Is all this part of this here credit crunch thing. Damian, did you have any Icelandic investements that have gone tits up..?!
I just read in a danish newspaper that Sørensen claimed O'neill was wrecking his career on purpose, and that MON called him "a man that's seriously mentally disturbed". I mean, c'mon, does he really expect us to believe such fairytales? :p
sorensen is a poor useless bumbling twat!
well aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
well your moms a bit of a you no wat tbf lolololol ajaba well ajaba tingting brapbrap bripbrip jaba jaba
well your moms a bit of a you no wat tbf lolololol ajaba well ajaba tingting brapbrap bripbrip jaba jaba zuubbb zuuuubb my names really brad naish n im a fat focker lol u shud c the size of my tits tbf look at eem their tripple F's if that is a size any i think randy lerners fit as fock i wana bonk him at this moment in time any way Damiannnnn come here ill do u right here right now i seriously will im so desperat i stalk girls haha i cant help myself tbh
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still no luck with the forum and no word from damian or oleole team then
Two words for 'small' little boys like you tom.....knob head! Sorry to the rest of you for the naughty words but he deserved that one.
lol
Whats wrong with being small?
forum works just have to register as a different user and loose all posts
Nan_was_a_fan
It's okay to use this for anything now ..
Not_so_Silent_Bob
I'm chasing .. but it's quite disheartening when it's like this .. sorry
Sam is in the house and the forums back up and running, yeah!!!!!
Damian, is it down again? I cannnae get in.
Quick bit of news I just heard....Ashley Young is PFA Player of the Month...!
Forum stopped working again for me too...
Yep....Forum is not working again....!
I can see Sam is logged in, but I can't log in...I don't recall upsetting anyone.!!!
AA, i was in then everything froze on me, i logged out then could't log back in......but now ok again just been in and let the cat out, everything looks ok. Except for the torn curtains and upturned tables and chairs. lol
Any news on Aston England U-21s and how many current and former Villains are in the squad for the first leg against Wales this evening?
Still not getting in, I have just posted on VitalVilla. That's showing desparation!! I haven't been on there for agres, had a look around and remembered why.
Still working for me Chezza babe, but it is very slow, you have to wait an age for it to boot up, then it's fine.
I wish Knob head Capello would open hin goggly eyes and see what everyone else can in Young!
Also, is anyone else thinkin they want to get Sorensen by his neck and tell him to shut the f**k up?!? Get over being a Villa reject for god sake!
Rant over....sorry
Still can't get in.
I'm about to start drinking.
Wife has gone out.
I have endless time on my hands for forum nonsense and I cannot get in.
try again nan i just logged on and logged straight into forum
Nope.
You got an auto fill thing on your login page?
nope
No having no luck. Tried entering login stuff manually. Still nothing.
Is anyone else getting in ther? It must be a bit lonely.
Bloody hell, if you're in a bad way Nan what about me? I'm at work, I may have to start talking to my coworkers. I hate that expression "coworkers", but it works. Colleagues doesn't because it suggests that you went to university with them, cohorts suggests army background, conspirators indicates that we're up to no good so that would work. Can you tell that I'm suffering, sititng here blogging to miself? I liked the posts from Tom above, very amusing. I'm off to walk around Sainsbury's, I will see if I can pull a MILF for the night staff. There's usually one or two around the sausage display, a fiver should do the job.
me cc and villa_chris are in
Less of the cheesy grin ya smug 'un. Envy - one of the seven deadly sins but I'm still alive (only slowly going mad).
well just me now lol
THIS IS A NEW THREAD WITHIN A NEWS ITEM.
Where are all the regulars?
Well, where are you all?
Sod this for game of soldiers. All I can say is; thank God there's no Villa action this weekend. If this same ole same ole carries on like this we'll just have to start up our own blog thingy.
lol calm down it'll get fixed lol good idea though dude
I AM CALM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! LOL
try logging in again dude it let me in damians in there too
Not this time, I will keep trying for a while. Thanks for popping in to keep me company Bob.
no problem dude im gonna go offline for a while now anyhows nout much happening around here so im gonna try catch up on a bit of work....
Andy. This is all rather depressing.
Do you think they'll be a baby boom in the small but statistically important socio-economic group known as 'Villa Obsessed, Keyboard Worshipping Home/work Enslaved Males.(VOKWHEM)'
In one word Nan; YES. I nearly picked up at the Sainsbury's cheese counter, I was on my way to the sausage counter but got no further thatn the cheese. Then something struck me, I think it was a brätwurst with gorgonzola, and I made a dash for the door, closely pursued by a lady of 'a certain age' and her screaming bräts. Phew.
I see what you did there. Loving your work my friend.
I've had it with this blog, it's crap.
(Just trying to see if I came shame Damo into tellin me what's goin down at HQ)
is the forum still not working for you guys yet?
I'm off home now, it's got to be perrrrr fekt (that means I'm hanging around the cool cabinets in Marks' & Spencer's tomorrow). You can always tell by the tell-tale reaction whether you're in with a chance of a little bit of an extra helping or two, if you get my drift.
Good night lads - and it's good night from him too I supppose.
And it's goodnight from me. Goodnight.
night lads....sams just managed to log into forum if your still around give it one last try before you head off!
Helooooo!!!
I am in the forum if you is interested!!
got in first time no probs!!
How about our Gabby getting the winner for the U-21s tonight! Did anyone see the game. How good was Gabby's goal and how did Milner do tonight?
The boy done good tonight, he actually looked up for it!!
Gabby very good, but also liked the look of the future of Welsh football. (Sorry am North Walian)
NO entry to Forum boys.
I assume I've been barred.
Sorry to hear that Nan, we miss you, i think Bob is still around i've had far too much beer for one night and am going to bed. See you am when hopefully this mess will be sorted.
nite nite.
Cheers Sam. ALso a bit aled.
See you all at Vital Villa.
has it got that bad that people are even talking about vital villa even in jest lol
Anyone play fifa09 on the wii here? :p
OK I'm guessin it's been fixed.
Ole Ole you have one last chance.
Don't make Nan cross on a Friday night again.
I wonder how Tom is this morning?
been working away all week wot was wrong with the forum
Is this debt from the players we have signed?
because if so then we are not in debt at all!!
buying players can be looked upon as buying stock!
the price of the stock can go up or down and you can make a nice profit or take a small loss! i.e ashley young, he has to be worth alot more then 9.75 million now!petrov would probly go for about what we paid for him and john carew if we sold him would go for much more then the baros swap we got him for!
is anyone out there or is there something wrong or is it just quiet
Shush......Keep the noise down...!
The biggest banks in the world are borrowing at over 6% at the moment...from private lenders etc. Might want to rethink your theory damian!
Hey up everyone! There will be a party in the Ghetto tonight - bring your own bottle.
full or empty
Spot on Walshy.
The Villa playing staff are worth probably £50 million more now than they were under David O'Leary, so they will sit on our balance sheet as assets.
It's like if you buy a house with a mortgage - you will be in debt but you still have the asset to sell if you get into trouble.
Name any company in the FTSE 100 without debt on its balance sheet - there isn't one.
A key measure of the club's financial position is its gearing - it's debt compared with the money available to pay its creditors. I suspect that this figure is fairly healthy.