Lennon hints at yahoo wage cuts

GazzaG said:
Barcelona, Atletico Madrid and Bayern Munich have all slashed wages.

But you think sellick will be just dandy?
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They all have treble and more the wage bill they have. I've said if push comes to shove they will be okay to still find it. Which Desmond could. If it really came down to it then it could be funded. I'm not saying it wouldnt be a struggle but I'm saying they have someone behind them with enough money to see this out.
 
SDF said:
We're not but I'll guarantee our announcement of wage cuts will be met with a level of rabid hysteria from the press that not a single other club will get
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We've already seen it with King stepping down.
He announced this before we had heard of COVID-19, yet the scummy record had him doing a runner because he was worried about our finances.
 
Tommy1912 said:
I'm not saying they wont but a quick google search has him at 1.9 billion. They will be fine. Your kidding yourself if you think they wont be.
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Richard Branson has double the wealth of Desmond and took action. Desmond didn’t get wealthy by being stupid. If the mentally challengeds start to become a cash drain he’ll react and he has his other businesses to protect as well
 
Tommy1912 said:
They all have treble and more the wage bill they have. I've said if push comes to shove they will be okay to still find it. Which Desmond could. If it really came down to it then it could be funded. I'm not saying it wouldnt be a struggle but I'm saying they have someone behind them with enough money to see this out.
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What about the paedo ring compo? Think Desmond will pay that for them?
 
Tommy1912 said:
They all have treble and more the wage bill they have. I've said if push comes to shove they will be okay to still find it. Which Desmond could. If it really came down to it then it could be funded. I'm not saying it wouldnt be a struggle but I'm saying they have someone behind them with enough money to see this out.
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So if push comes to shove the paedos will be fine.
Yet you acknowledge the biggest clubs on the planet are having to make cuts?

I love how the FF comedians have tried to keep our spirits up lately.
 
Tommy1912 said:
I'm not saying they wont but a quick google search has him at 1.9 billion. They will be fine. Your kidding yourself if you think they wont be.
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Like every other club they are in trouble. ! They rely on transfer money to get through a season. 'Fine' as in further downsizing, sure thing! The 'billionaire' wont be bailing anyone out apart from himself most likely.
 
Govan_derry said:
Richard Branson has double the wealth of Desmond and took action. Desmond didn’t get wealthy by being stupid. If the mentally challengeds start to become a cash drain he’ll react and he has his other businesses to protect as well
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Branson doesnt have employees worth millions of pounds though. As I've said I'm not saying it wont effect them. What I'm saying is they have someone behind them who can see it out with wages etc the now. Even if he puts a clause in he has to get his money back within 2 to 3 years out the club profits of what he puts in to keep them going during this period.
 
Unfortunately all clubs in Scotland will have to make cuts to cope with this, including us. The issue for us is that it will set us back relatively further than them
 
Tommy1912 said:
I really dont know what hed do. They are in a far better position to pay wages to players than any other club in the league though. That's a fact. Dont know why ppl are getting there pants in a twist over that.
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I'd suggest their wages to turnover is much greater than anyone else in the league. That's a huge problem for them. Which is nice
 
okbear said:
They are desperately waiting for Rangers to announce some kind of wage cut so their press poodles can the bury the story of them doing similar.

It shows how arrogant and devious they continue to be, even under the horrendous circumstances we are all facing.

And no, it doesn't surprise me.
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Exactly the way I see it
 
GazzaG said:
So if push comes to shove the paedos will be fine.
Yet you acknowledge the biggest clubs on the planet are having to make cuts?

I love how the FF comedians have tried to keep our spirits up lately.
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Are you taking the piss ? The biggest clubs on the planet wage bill dwarfs us and them. I'm saying and il say it again so you understand. If and a big if they had to keep paying the wages the have a billionaire who can. Hed get his money back through it written in a contract etc that money put in has to be paid back. But with a billionaire behind them paying wages for 4 to 6 months is more than doable. Are you saying it's not?. Are you saying what I'm saying is so far fetched?.
 
gerz1873 said:
I'd suggest their wages to turnover is much greater than anyone else in the league. That's a huge problem for them. Which is nice
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I'm not saying it's not. But let's be honest. Desmond agrees to fund them for the next 4 to 6 months on condition that every penny is paid back in the next 2 to 3 years so hes loosing nothing. He can afford to do that. And it's a feasible option of it came to it. Dont understand how it's so hard for some to understand on here.
 
Tommy1912 said:
Are you taking the piss ? The biggest clubs on the planet wage bill dwarfs us and them. I'm saying and il say it again so you understand. If and a big if they had to keep paying the wages the have a billionaire who can. Hed get his money back through it written in a contract etc that money put in has to be paid back. But with a billionaire behind them paying wages for 4 to 6 months is more than doable. Are you saying it's not?. Are you saying what I'm saying is so far fetched?.
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Sounds like a Timmy fantasy to me

Would they want to go into further debt with him also
 
Tommy1912 said:
Are you taking the piss ? The biggest clubs on the planet wage bill dwarfs us and them. I'm saying and il say it again so you understand. If and a big if they had to keep paying the wages the have a billionaire who can. Hed get his money back through it written in a contract etc that money put in has to be paid back. But with a billionaire behind them paying wages for 4 to 6 months is more than doable. Are you saying it's not?. Are you saying what I'm saying is so far fetched?.
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I'm saying that Neil fùcking Lennon has said there'll be cuts.

But no, you know better than the sellick manager.

You do know that Desmond can't just go throwing in money though don't you?
I'll trust someone like you who knows better than the filths manager has heard of Financial Fair Play and understands how it works?
 
cambridgeblue said:
Desmond gets 6% guaranteed tax free in perpetuity from his loans to Shellick - regardless of profit.

He might be delighted to loan them more.
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Dont be daft according to everyone on here he will let them go under. As I've said there will be something in place where he bails them out but all money is repaid over a period of time. Genually dont know why ppl on here are finding that hard to believe. They have assets worth millions. Its it in his best interests to not pay them and be in breach of contract.
 
GazzaG said:
I'm saying that Neil fùcking Lennon has said there'll be cuts.

But no, you know better than the sellick manager.

You do know that Desmond can't just go throwing in money though don't you?
I'll trust someone like you who knows better than the filths manager has heard of Financial Fair Play and understands how it works?
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Where the %^*& have I said there wouldnt be? You making things up aye ? I've said they would be better to cope than anyone in the league with a billionaire behind them to deal with it. I dont know fuckall about them or there finances. What I do know is they have a billionaire behind them so realistically they would have a better chance. Do you disagree with any of that ?
 
They’ll be hit harder than us imho. There wage bill is hideous for a team that’s not qualified for the CL group stages for years. They’ve had to sell to keep that wage structure up - Biscuit hips, Dembele etc.

There’s only so many times you can sell your best player and get it away with it, French Bagetty being the next.
 
Grigo Yossarian said:
Good post.

I think at their last year end it was over 30m as you suggest, however that’s right at the start of the season when all of the ST & Sponsorship cash was in. They had over 20m of deferred assets at end June. That’s cash received for a period that relates to later months during the season.

In simple terms they will probably have had significantly less cash at the start of this lockdown than at end June.
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Thought it was 31 Dec, but whether it was 30 June or 31st Dec 2019, the fact is much of theirs (and ours) revenue is front loaded.

Even if it was as recently as 31st Dec, their cash will be disappearing fast.
 
Shota said:
They’ll be hit harder than us imho. There wage bill is hideous for a team that’s not qualified for the CL group stages for years. They’ve had to sell to keep that wage structure up - Biscuit hips, Dembele etc.

There’s only so many times you can sell your best player and get it away with it, French Bagetty being the next.
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If they hadn’t sold Tierney this season they would have probably lost between 10m-15m.
 
Tommy1912 said:
Where the %^*& have I said there wouldnt be? You making things up aye ? I've said they would be better to cope than anyone in the league with a billionaire behind them to deal with it. I dont know fuckall about them or there finances. What I do know is they have a billionaire behind them so realistically they would have a better chance. Do you disagree with any of that ?
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Four words pal.

Mike Ashley. Newcastle United.

Still think a billionaire makes all the difference?
 
Centralbear said:
Thought it was 31 Dec, but whether it was 30 June or 31st Dec 2019, the fact is much of theirs (and ours) revenue is front loaded.

Even if it was as recently as 31st Dec, their cash will be disappearing fast.
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Agree. I looked a few months ago so don’t remember exactly now, but either way you are right.
 
Tommy1912 said:
Dont be daft according to everyone on here he will let them go under. As I've said there will be something in place where he bails them out but all money is repaid over a period of time. Genually dont know why ppl on here are finding that hard to believe. They have assets worth millions. Its it in his best interests to not pay them and be in breach of contract.
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If he is getting 6% rain or shine forever why would he want to pay it back ?
 
Grigo Yossarian said:
If they hadn’t sold Tierney this season they would have probably lost between 10m-15m.
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I'm not saying they wouldnt. Do you disagree with this?. If worst case scenario and they need a bail out of say 20 or 30 million pounds. Desmond would give them it agreed on he gets that cash back when it's up and running.
 
Tommy1912 said:
I'm not saying it's not. But let's be honest. Desmond agrees to fund them for the next 4 to 6 months on condition that every penny is paid back in the next 2 to 3 years so hes loosing nothing. He can afford to do that. And it's a feasible option of it came to it. Dont understand how it's so hard for some to understand on here.
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Think people understand fine, what I don't get is why he would do it if he actually takes money from them. Each to their own
 
Tommy1912 said:
I dont know what he gets on his celtic loans. We both know he would loan them money as long ad a paymeant plan was in place to keep them going though.
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He gets 6% in perpetuity paid tax free into a bank in Gibraltar.

it’s the best investment ever.
 
Tommy1912 said:
I'm not saying they wouldnt. Do you disagree with this?. If worst case scenario and they need a bail out of say 20 or 30 million pounds. Desmond would give them it agreed on he gets that cash back when it's up and running.
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I wasn’t arguing with you Tommy, because I don’t know Desmond, so can’t really say what he would or wouldn’t do.

What I do know, without remembering the intimate detail tonight, is that with roughly 28m last year from Dembele & Rodgers money in, they made 10m plus last year. Or to put it another way, if they didn’t have those profits they’d have had losses at least over 10m.

So it’s CL money or another big sale this summer & Edouard is the biggest sellable asset.
 
Grigo Yossarian said:
I wasn’t arguing with you Tommy, because I don’t know Desmond, so can’t really say what he would or wouldn’t do.

What I do know, without remembering the intimate detail tonight, is that with roughly 28m last year from Dembele & Rodgers money in, they made 10m plus last year. Or to put it another way, if they didn’t have those profits they’d have had losses at least over 10m.

So it’s CL money or another big sale this summer & Edouard is the biggest sellable asset.
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They have been selling off their best players year after year after failing to get in the champions league to balance the books. That's what clubs have to do. What I'm saying though and I dont know Desmond either but if they needed a loan to get them through 3 months etc then thay have a billionaire to get them through it. That's not to say he could say part of this deal is we sell x y or z when the window opens to get me my money back but they do have someone to fund them.
 
weetam3106 said:
Be nice if the co-op was to call in their big dodgy loan at the same time.
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I think that was meant to be repaid in 2019 & they re negotiated that loan Tam.

Strange, unless they knew a train was coming at them, and maybe that train is the child abuse pay outs & legal fees ?
 
Tommy1912 said:
They have been selling off their best players year after year after failing to get in the champions league to balance the books. That's what clubs have to do. What I'm saying though and I dont know Desmond either but if they needed a loan to get them through 3 months etc then thay have a billionaire to get them through it. That's not to say he could say part of this deal is we sell x y or z when the window opens to get me my money back but they do have someone to fund them.
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There’s no doubt he’s a rich man, and you’d rather have a rich man behind you Tommy, but look at Murray when his 500m worth dropped to just over 100m. He dropped us right in it.

And we know the world equity markets are crashing just now, so his personal worth probably is too.
 
Grigo Yossarian said:
There’s no doubt he’s a rich man, and you’d rather have a rich man behind you Tommy, but look at Murray when his 500m worth dropped to just over 100m. He dropped us right in it.

And we know the world equity markets are crashing just now, so his personal worth probably is too.
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Celtic dont have a massive tax bill haging over them though. Realistically he wont let them go to the wall over this. Hel give them the money and in the contract itl be made sure it gets paid back. Murray shit the bed over the tax bill. We had 17 million debt to the banks getting paid back by 1 million a year Nd the banks were happy with that. murray knew the tax bill could cripple him so got out instead of seeing it out. And if he had of seen it out we would have been fine. 500 million doesnt touch the sides of 1.9 billion. It's no even comparable. As I've said even if it's a loan from Desmond to the club to be paid back they are in a better position than anyone in scotland to survive this. Theres not one ounce of an argument to say any other club is in a better position than them to do it.
 
Walters80 said:
No doubting Rangers will need to do this as well but the speed at which they are trying to sell season tickets and going public about wage cuts paints a picture of a club that’s nowhere near financially sound as it likes to foam at the mouth about.
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I said the same thing only the other day on another thread.
Every year they sell their best player and try to find another saleable asset.
 
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