by Evenmydoghatesunited » Thu Aug 08, 2013 9:31 pm
I bought a new car last month. After 3 years the dealership believes it will be worth about a third of what the list price is now. So I put about 20 percent down and then pay what's left minus one third of the value over the next 36 months. All very well and good. It makes reasonable commercial sense to someone like me who regards forking out the full amount undesirable up front.
Part of my deal is basing my purchase against the future value of the vehicle after I've bought it.
In rudimentary terms Glazer bought the rags as I bought my car but paid no deposit and decided for his creditors what his asset would be worth in the future. He then has refinanced the purchase over and over against his "asset" with no regard whatsoever to the fact that this isn't a lump of metal destined for the scrap heap one day but an altogether different entity that employs people and has great historic value to all sorts of people in Surrey and the Far East. The whole business is one of succeed or die. No shades in between. If they do go tits up one day and no club can avoid it forever then sooner or later their is no visit to the championship. Or the the first division even. Just to the breakers yard.
In the meantime the sheikh went to the showroom and said yes please I'll have that one and here's a suitcase full of readies.
UEFA in what passes for wisdom have decided that that is a bad model for football but the Gordon gecko stuff is fine thankee very much. FFP my arse.
