LEEDS UTD JUST ANNOUNCED THEY MAY HAVE TO GO INTO ADMINISTRATON! BUY BUY BUY

[Heilandee]

Seems ironic the original thread was started on the news of Leeds possibly going into administration from overspending then it's proposed that ICT are more "ambituos "and buy their way to sucess,as one who has seen this all at first hand I can assure you,it disnae work,the gamble just is not worth the club's demise when the bubble inevitably bursts

[Scotty]

Seems ironic the original thread was started on the news of Leeds possibly going into administration from overspending then it's proposed that ICT are more "ambituos "and buy their way to sucess

yes, that irony wasnt lost on me either !!!

Truth of the matter is that ICT have been 'on the brink' once and I wouldn't want to see that again. It cost a lot of money to create the club, finance the stadium, build the road etc and we got into deep doo-doo doing it. I dont fault those at the helm during that time as they were trying to meet fan expectations and club obligations with the SFL. However, when someone like David Sutherland steps up and tells you what you need to do to get your corporate finances back on track in a business that is notorious for losses rather than profits and then gives you a plan that allows you to live within your means, then unless you are rich, arrogant, or stupid you listen to what he is saying !!! 

Some people might not like him, his plan, or the fact that it means we cant be flamboyant with the cash but I firmly believe that the financial foundations he laid (as well as the physical ones laid by his company) mean that we will be financially stronger than a lot of other teams as the years go by.

As far as I am concerned, ICT have taken things slowly - sometimes too slowly for my liking - but we do see progress year-on-year and that it is far more preferable than the alternative. I agree with those that want bigger names at the club, I think we all want that as it is a sign of progress but to suggest we break the bank to sign players from a team who are going bust because they did just that is complete folly in my opinion.

[Charles Bannerman]

Scotty... I'm not entirely convinced that ICT has taken things all that slowly. If you consider the timescale from 1994-2006 which I detailed further up this thread, I think that's pretty rapid progress from the Highland League to the SPL in about a decade. After all, everybody thought Dougie McGilvray was off his head when he bet Tam Cowan that ICT would be in the SPL by 2004. Inded some (especially David Sutherland) have criticised Dougie for pushing on too fast. I will pass no personal judgement either way on that but, for instance, it has been claimed that 1997 was too early to go full time. OK, Caley Thistle have got away with it, but by 2000 had spent a couple of million more than it had earned and the receivers would have been in had that debt (which presumably still exists in some form) not been spirited away into the Trust (at which point we wonder yet again what actually happened to that particular liability!)

But yes, players become surplus to means at Leeds who are virtually on their uppers and, in front of the ICT backdrop which we've been discussing, people demand that ICT splashes out cash it doesn't have to get them to Inverness.

Ironic indeed!!

[chris123]

IMO the way the club managed to pull itself out of our well documented financial problems and to get us to the financial state we are in now in such a small space of time is one of our biggest and most underated achievments as a club.

Anyhoo leeds are gash :020:

[clacher_holiday2]

wasnt the debt split into lots of smaller debts, some of which has been paid back

we shouldve done a motherwell and paid 7p per pound of debt!

[Guest coronationcages]

Seems ironic the original thread was started on the news of Leeds possibly going into administration from overspending then it's proposed that ICT are more "ambituos "and buy their way to sucess,as one who has seen this all at first hand I can assure you,it disnae work,the gamble just is not worth the club's demise when the bubble inevitably bursts

I THINK YOU WILL FIND THAT IT WASNT OVERSPEND IT WAS THE COLLAPSE OF ITV DIGITAL

[RiG]

Seems ironic the original thread was started on the news of Leeds possibly going into administration from overspending then it's proposed that ICT are more "ambituos "and buy their way to sucess,as one who has seen this all at first hand I can assure you,it disnae work,the gamble just is not worth the club's demise when the bubble inevitably bursts

I THINK YOU WILL FIND THAT IT WASNT OVERSPEND IT WAS THE COLLAPSE OF ITV DIGITAL

No it wasn't. Leeds were still in the EPL when the first signs of financial trouble came to light with the sales of players like Woodgate and Ferdinand to pay back crippling loans they had taken out.

[Heilandee]

Seems ironic the original thread was started on the news of Leeds possibly going into administration from overspending then it's proposed that ICT are more "ambituos "and buy their way to sucess,as one who has seen this all at first hand I can assure you,it disnae work,the gamble just is not worth the club's demise when the bubble inevitably bursts

I THINK YOU WILL FIND THAT IT WASNT OVERSPEND IT WAS THE COLLAPSE OF ITV DIGITAL

The collpase of ITV digital hurt many championship clubs financially,they didn't all reach 100 million pounds of debt though.I'd say things like ITV digital going bust merely re-inforce the point not to be gung ho with finances and live within means,spending (borrowed money)to get sucess doesn't work,sadly,i reckon Hearts will be the next club to find that out.

Thats them officially in administration now,reckon they know it's inevitable so better to do it now and take the 10 points off this season than start next season 10 points down

Leeds in Administration