Today at the yearly finacial meeting our congress accepted the proposed 100 million dollar budget.....
Cengo said:I forgot to add:
GS expects the cocts for 2005 to be 70.5 milyon YTL (55,8 million dollars) and the incomes to be 55.4 milyon YTL (43,8 million dollars)
This means that GS are expecting a loss of 12 million dollars for 2005(55,8-43,8)!
GS has a total debt of 144 million dollars.
This despite them not making any transfers with transfer fees, no stadiums, no facilities, no world class players.....nothing!
Figures shows that Fener's budget is twice as big as GS's....
Bro, that's what im talking about......our board is building a foundation that will "carry" this club for decades to come. And although the club has already made a lot of $$$ on these invetsments (bigger stadium, Feneriums) they havent even come half way.....i even doubt that we are making a 10th of what can be made "out there".yenibey said:I see, I was forgetting about the current investments. That makes sense, go into debt temporarily to invest in big projects, but those projects will return on that investment very soon and grow the income to get out of debt.
Big difference from spending with no plan to get that money back.