Ivan Gazidis: “We have committed a net £53m on new transfers since the May 31st date.” “We have got liabilities of £29m still to pay on previous transfers and there is a further £17m of performance-related costs that we expect to have to pay on top of that. So that’s £99m of the published figure of £207.9m, which leaves us with £108.9m left. “We have to keep a substantial amount of cash in reserve at all times in order to comply with our debt obligations and most of the remaining cash after that is needed to run the club across a full season, with all of the costs, including player salaries, associated with that. We also do some complex modelling forward over a number of years to work out that we can meet our anticipated financial commitments. “We do try to keep a reasonable amount of cash available for further investment in the team. We don’t want to disclose that publicly because it’s obviously commercially and competitively sensitive but I’m afraid it’s nowhere near the numbers that are quoted and which fuel some degree of dissatisfaction. It’s quite untrue to suggest that the club is sitting on a huge cash pile that, for some unspecified reason, it refuses to use.”
Posted on: Fri, 17 Oct 2014 14:00:01 +0000
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