Thirty, in fact nearly forty years ago, myself and a work colleague both bought a house at the same time. A common practice back then was the so called 'cash-back' in terms both of us found £1,000 added to our bank account. Back then £1,000 was a fair old wedge.rncfc wrote: February 1st, 2024, 9:29 amNewport County as a business could have got a loan if it needed one. We were cash rich and debt was cheap. Just more inane attempted justification of what has gone on.Bangitintrnet wrote: January 31st, 2024, 6:40 am To me, members now see the trust as a watchdog making sure we never hear the word expunged again.
Or Members now see the trust as a means of getting priority tickets. However is that what it should be designed for?
Are there better ways of achieving those objectives?
The FA now have tighter financial control on clubs, by effectively forcing them to carefully use windfall cash or cash from 3rd parties. If a third party goes bust, that shouldn't impact on the club, or its day to day budget.
I get that Members think a trust run club shouldn't have been deferring payments in order to keep windfall cash, but that is a way of effectivly getting a loan, when we don't have owners who can........
No right or wrong here, just a choice. My friend took her boyfriend off for a luxury fortnight holiday. I put in a kitchen
I had a kitchen. My friend had the memory of two weeks in the Portuguese sun. We both lived in our respective houses for about five years. I had the pleasure of a new kitchen for five years. And when we sold on our respective houses, I got the bigger mark up by far.
Now the truth is that £1,000 was a 'loan'. I use the inverted commas because banks don't loan money, the reality is they sell it. And whether you are a business like Newport County or an individual like me there is a golden rule.
Only ever borrow to invest.