Home

Income

Staff & Payroll

Player Trading

Amortisation

Cash

Interest Payments

Profits

Assets

Debt

Director Pay

Debt

The net debt for the club comes from adding up all the money they have borrowed, be this loans or overdraft, and then comparing it to how much cash the club has.

It is clear that there was some prudent management of this up to 2007. Then it went mad in 2008.

As with the discussion around the cash flow, the promotion changed everything. The general spin put on debt is that the extra income from the Premiership will justify the position, and will allow the debt to be repaid. At the rate of reduciton being shown Hull would have to play Premier League for 7 more seasons to get the debt back down to 2007 levels.

It is interesting that David Gold is suggesting a limit on the amount of money clubs can borrow. (Article here). At Birmingham they ran a very tight ship with no debts. The Birmingham fans hated their lack of ambition and what seemed to be lack of backing of their manager.

At the levels Gold is talking about Hull would have been allowed to have debts of roughly £3m in 2008, and £12m in 2009.