So what's 'Plan B'?Updated: June 27th, 2007
Or given the eagerness of the board to sell up, do we actually have a ‘Plan B’?
Looking at the current squad list (below) makes worrying reading. Right now we only have six recognised defenders under contract for next season, including Danny Mills. Michael Ball was “set to sign” a new deal two weeks ago, but that’s all gone quiet. Considering he’s a free agent this summer and has just proved his form and fitness to other Premiership managers, it would be surprising if other clubs don’t try to sign him.
We have no manager, no assistant manager and no first-team coach. Two of our five contracted midfielders have just been involved in a vicious brawl and four of our forwards managed just 10 league goals among them last season in 6,703 minutes of football - or one goal for every 11 hours of play.
And it gets worse.
Last night I was talking to a charterted accountant who follows the club’s finances very closely. He’s a City fan with over 20 years’ experience in top-level accountancy who posts on the MEN message boards as OB1.
He believes that City are looking at a shortfall of £12m-£15m this year - money which has to be found before the end of the financial year in eight days time.
In previous years a similar deficit was plugged by loans from John Wardle & David Makin and the sale of SWP. With Wardle and Makin already owed around £23m and eager to bail out, it’s unlikely they’ll be getting the chequebook out yet again.
The sale of Micah Richards might raise that amount, but as the transfer window doesn’t open until June 1 that won’t solve the immediate problem. Neither would a takeover, which I’m told would take around six weeks to go through.
One possibility is a short-term overdraft which, without a takeover, would make Micah a certainty to move in June and leave us with just five defenders under contract for next season.
It’s become pretty clear that City need a massive cash injection this summer that can only come about from a takeover.
The board seem to know it and want out. David Makin, a diehard Blue, has reached the end of his tether and I’m told would be prepared to write off a large chunk of his loans just to get out. John Wardle has more to lose financially and is understandably keener to walk away relatively unscathed. Mark Boler has little interest in this club other than getting a good return on the 18.75% stake inherited from his father (and is far more interested in golf than City anyway), while BSkyB’s 9.88% shareholding is little more than spare change for them.
Apparently City are known as ‘the Blue Ship’ in Thailand, and maybe that’s a good description right now. As the board hurriedly clear the decks for a new owner, the sense of drift is becoming alarming. With the board determined not to do business with Ranson, should Thaksin’s interest wane the consequences don’t bear thinking about.
A squad shorn of talent, patched up with Bosmans and short-term loans — and managed by Graeme Souness.
Given that scenario, it’s probably not too surpising that we’re currently only 7/2 for the drop next season.