Debt

[voiceofreason]

Something confused me when I was reading the reports of our financial situation and was hoping that someone could maybe clear things up. Basically there was a fair profit last season which sensibly was used to reduce the overall debt of the club to £6.8 million. Further on however the report mentioned that last season profit was going to be used for the new training facilities. (it didn't say how much that would cost but I'm sure I read a while back that it would be between £1.5 and £2 mill).

Presumably then our debt may soon be in excess of £8.5 mill. Here's hoping we go on and win the CIS, do very well in the Tennents Scottish cup, and get a UEFA spot also. If so we just might make a half decent profit again and keep the overall debt in check.

I actually believe after the training ground is built that the debt will be reduced each season. I know we are never given any kind of budget for new players but surely our team is proof that youth is the way to go. This club has never been in better shape and a lot of that is down to Rod Petrie - it's beyond me why he gets so much criticism.

[Decal Joe]

Originally Posted by voiceofreason
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Something confused me when I was reading the reports of our financial situation and was hoping that someone could maybe clear things up. Basically there was a fair profit last season which sensibly was used to reduce the overall debt of the club to £6.8 million. Further on however the report mentioned that last season profit was going to be used for the new training facilities. (it didn't say how much that would cost but I'm sure I read a while back that it would be between £1.5 and £2 mill).

Presumably then our debt may soon be in excess of £8.5 mill. Here's hoping we go on and win the CIS, do very well in the Tennents Scottish cup, and get a UEFA spot also. If so we just might make a half decent profit again and keep the overall debt in check.

I actually believe after the training ground is built that the debt will be reduced each season. I know we are never given any kind of budget for new players but surely our team is proof that youth is the way to go. This club has never been in better shape and a lot of that is down to Rod Petrie - it's beyond me why he gets so much criticism.

Good morning Rod,

Welcome to the Bounce!
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BTW I have sensed a real sea change in peoples opinions of Mr Petrie recently, his handling of some of the situations the Club have been faced with in Player and Managerial affairs and also in the face of childish baiting from other quarters has imo been noted by many!

[PILTONSTANY]

Originally Posted by voiceofreason
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Something confused me when I was reading the reports of our financial situation and was hoping that someone could maybe clear things up. Basically there was a fair profit last season which sensibly was used to reduce the overall debt of the club to £6.8 million. Further on however the report mentioned that last season profit was going to be used for the new training facilities. (it didn't say how much that would cost but I'm sure I read a while back that it would be between £1.5 and £2 mill).

Presumably then our debt may soon be in excess of £8.5 mill. Here's hoping we go on and win the CIS, do very well in the Tennents Scottish cup, and get a UEFA spot also. If so we just might make a half decent profit again and keep the overall debt in check.

I actually believe after the training ground is built that the debt will be reduced each season. I know we are never given any kind of budget for new players but surely our team is proof that youth is the way to go. This club has never been in better shape and a lot of that is down to Rod Petrie - it's beyond me why he gets so much criticism.

If we're using the £2m profit from last season to fund the training facilities,Why would the debt go up
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