Author Topic: The debt - should we be worried??  (Read 1463 times)

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The debt - should we be worried??
« on: April 13, 2023, 11:30:53 PM »
I know there's a real feel good factor at this precise moment in time, but just seen on another forum the debt we have accrued.

" Kings Lynn lost £151k in 21/22 and have debts of just under £1m. It's holding company also has debts of £568k"

Apparantly the figures were obtained from Companies House website - I challenged the author of the thread but got the usual insults that football "fans" give out when questioned

But, not good reading (if true)

Should we be worried??



Mallard

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Re: The debt - should we be worried??
« Reply #1 on: April 14, 2023, 08:25:39 AM »
Have a feeling a loss of 151k in the  FY 22/23 will look a good result.  Is SC happy to continue to pump in money and load the Club accounts with more and more debt ?   Though he said when he walks away he will write the debt off.    Not the amount borrowed last year though I guess?
What if the Hokey Cokey really is what it’s all about ?

Coastal linnet

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Re: The debt - should we be worried??
« Reply #2 on: April 14, 2023, 09:07:33 AM »
Should we be worried?

No.

As a supporter I shall pay my admission money tomorrow.
That's the extent of my financial consideration regarding Kl.
Rather than worry, I am looking forward to the possibility of promotion.
Been impressed with the enthusiasm and positivity shown by the players since TW has left.
Must soon be time for player of the season consideration.
Josh Coulson, Adam Crowther or Michael Clunan get my  vote!

Mallard

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Re: The debt - should we be worried??
« Reply #3 on: April 14, 2023, 10:20:32 AM »
One horse race for me, Coastal.  Centre half who  is the Clubs 2nd leading goalscorer.  Crowther hands down
What if the Hokey Cokey really is what it’s all about ?

TonyM

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Re: The debt - should we be worried??
« Reply #4 on: April 14, 2023, 02:24:43 PM »
Sorry Coastal but that sounds very like the arguments made by many prior to the old club going belly up - "nothing to see here, not my problem".  The truth is that if you are hoping to continue to watch Lynn playing in the upper levels of the non-league pyramid then I think you probably should be worried as the accounts show (and as SC has stated in his own EDP column) that we are not viable without SC putting loads of his own money in to sustain the level of financial doping that has got us to where we currently are. 

How we move from the square we are on is open to debate - do we need to find another mug (sorry owner) with even deeper pockets to subsidise NL football or do we maybe need to take a few years at NLN to enable the off-field side of the club to catch up with where we are now on the field?

Pink

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Re: The debt - should we be worried??
« Reply #5 on: April 14, 2023, 02:51:08 PM »
Whilst I understand your points Tony, I have to agree with Coastal……enjoy the here and now……..if it does all go awry further down the line, then with the current model we are powerless anyway…..so why not just enjoy it while we can

Pink

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Re: The debt - should we be worried??
« Reply #6 on: April 14, 2023, 03:21:50 PM »
Player of season…..for me Crowther or Omotayo………there is nowhere to hide as a defender……..but then again 20 plus goals, the winner at Doncaster and a huge amount of defensive headers won………maybe the last 3 games will enable me to decide

Blue_and_Gold

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Re: The debt - should we be worried??
« Reply #7 on: April 14, 2023, 04:23:34 PM »
Whilst I understand your points Tony, I have to agree with Coastal……enjoy the here and now……..if it does all go awry further down the line, then with the current model we are powerless anyway…..so why not just enjoy it while we can

So if it goes belly up at some point, I assume supporters would expect yet another Phoenix Club?

If that’s the case, what business model would they prefer next time?

Another “White Knight” (I assume that’s the same as a Mug), that would lead us down the same rocky road again (and again, and again)?
If I ever get outta here I've thought of giving it all away,
to a registered charity, as all I need is a pint a day, if I ever get outta here.

wack

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Re: The debt - should we be worried??
« Reply #8 on: April 14, 2023, 05:02:10 PM »
Trust run club for me.

TonyM

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Re: The debt - should we be worried??
« Reply #9 on: April 14, 2023, 05:06:44 PM »
Whilst I understand your points Tony, I have to agree with Coastal……enjoy the here and now……..if it does all go awry further down the line, then with the current model we are powerless anyway…..so why not just enjoy it while we can

So if it goes belly up at some point, I assume supporters would expect yet another Phoenix Club?

If that’s the case, what business model would they prefer next time?

Another “White Knight” (I assume that’s the same as a Mug), that would lead us down the same rocky road again (and again, and again)?

B&G as you well know, there are some that think 'there will always be another White Knight"

Blue_and_Gold

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Re: The debt - should we be worried??
« Reply #10 on: April 14, 2023, 05:19:11 PM »
Whilst I understand your points Tony, I have to agree with Coastal……enjoy the here and now……..if it does all go awry further down the line, then with the current model we are powerless anyway…..so why not just enjoy it while we can

So if it goes belly up at some point, I assume supporters would expect yet another Phoenix Club?

If that’s the case, what business model would they prefer next time?

Another “White Knight” (I assume that’s the same as a Mug), that would lead us down the same rocky road again (and again, and again)?

B&G as you well know, there are some that think 'there will always be another White Knight"

Yes. Where is he now?
If I ever get outta here I've thought of giving it all away,
to a registered charity, as all I need is a pint a day, if I ever get outta here.

wearywillie

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Re: The debt - should we be worried??
« Reply #11 on: April 14, 2023, 06:30:35 PM »
Thought crossed my mind.
I do wonder if Notts County supporters are somewhat similarly concerned having read recently they are £14,000,000 in debt ?

rod

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Re: The debt - should we be worried??
« Reply #12 on: April 14, 2023, 07:03:00 PM »
Nothing wrong with a 'White Knight' who is capable of fully engaging with the community and thereby generating a level of off field sponsorship that reflects current status and sensible ambition?

 

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