I would put down the two big influences on my writing as

a) PG Wodehouse
b) Douglas Adams

You’ve got to be kidding me. If you actually believe that and happen to be interested in women, my friend, I can only see doom and bleakness ahead of you (or behind you, depends).

There is a new post on this site, covering this new development.

However that never looked like a very serious option since he wouldn’t get that much money back in such a fire sale.

This way he has the shares, and he can start selling them bit by bit. I don’t know how many shares there are but if there are 1 million and he values them at £500 each he could sell them in batches of 1000, and so get his money back slowly that way.

The fact is, if you lend money to a company at zero interest it is because either you like the company or you hope to get something out of it at the end, like the selling of it.

I have a feeling this new approach although more likely to allow him to off load some of the debt, will have a problem with taxation, but you would need an accountant to sort that one out.

The chant is classic. Wish I was at the ground to hear it! Hope someone obliges by recording it tonight!

But as for the KGB in Fulham what they seem to have done is simply changed the debt (which was at zero interest but with the right of the owner to call for it to be paid at any time, with just six months notice) into shares, which obviously don’t have that call-in ability.

So there is no formal debt to be paid back, NOT because they have paid the debt off, but because of a nifty bit of paperwork. Abramovich can now start selling the shares piecemeal, without rocking the club.

The KGB in Fulham lost £57m in the year just finished, as compared to Arsenal’s profit. The club is technically debt free, but the issue now is who will pick up the debt from now on? The banks? New investors?

What also has changed is Peter Kenyon’s promisel that the club would be breaking even by 2010. They lost £65m in the previous year so this is an improvement, but still nothing like break even. But they are still talking about break even, and that means a radical change in style – or else a new source of finance – unless Abramovich goes on printing new shares and handing over new money.

All in all it is probably a way of getting round new UEFA rules about finance and debt, and if successful it will mean Manchester Arab will go the same way, leaving Manchester IOU and Liverpool I out in the cold. Along with Portsmouth. Still awaiting news of the Revenue and Customs move on that one.

Seriously though, Simon B has explained it very aptly. Heed his words and you’ll get to understand the bitting humour.

A great model to follow! I often put my words in my mouth and would like to jump in a hole and come out in Shropshire. As well I was nevery good at follow the leader! So I will follow your Churchill model! I only wish that everyone could read this article…Here in America we are experiencing the laziness you cite. And, now laziness has equipped the next phase which is concern about speaking out. What’s that old story about speaking out until it’s too late? As for irony Burnz’ comments straight out of the gate! That had to be you? It was just too perfect and your rebuttal was almost as good as the original article. Poor Burnz he is probably why some people don’t get!

Paid in a minute
You might get paid in a minute
Paid in a minute
You might get paid in a minute…

The three top blogs in my opinion are Arseblog, Goonerholic and Arsenal News – in any order you like.

Happy New Year to you all and I look forward to laughing along with you through nest year. Brilliant!