I think a few were surprised to hear that the debts to sisu was converted into equity.
It may also have come as a surprise that the overall losses are down to less than £3m/yr. Especially as the club lost a lot of income following relegation.
Those two surprises may well be connected. Losing less than £3mil/yr and with the outlook of a reduced rent and even some matchday income means that the club is now self sustainable. The cash flow is close to be positive. No need for more postcards to sisu 'send more money'.
It also means the club now starts to have an actual value and that new investors will buy shares at prices reflecting that value. It will be easier to attract new investors.
Now we begin to see the result of the last 1½ years extreme cost cutting excercise.
Well done sisu!
It wasn't pretty, but it was necessary.
It may also have come as a surprise that the overall losses are down to less than £3m/yr. Especially as the club lost a lot of income following relegation.
Those two surprises may well be connected. Losing less than £3mil/yr and with the outlook of a reduced rent and even some matchday income means that the club is now self sustainable. The cash flow is close to be positive. No need for more postcards to sisu 'send more money'.
It also means the club now starts to have an actual value and that new investors will buy shares at prices reflecting that value. It will be easier to attract new investors.
Now we begin to see the result of the last 1½ years extreme cost cutting excercise.
Well done sisu!
It wasn't pretty, but it was necessary.