Jenkins: No Money Put In From Americans For Transfers
Swansea City chairman Huw Jenkins has admitted that there's 'no money put in' for player funding from the new American owners.
Fans have questioned what exactly are the Americans providing and doing that the existing owners couldn't do. After all, they've not invested any money whatsoever since buying the shares. They've provided no transfer money whatsoever - as revealed by Jenkins in his lengthy interview with Wales Online.
"No, there's no money put in at this time to do that. No. But you can't forget that the ongoing situation as well with the Trust and other shareholders, that even if they did put money in, there would be the argument about dilution of shares because that's the way that they can introduce capital."
So what exactly are they there for? Jenkins has said before that the club needed extra financial help in order to survive in the Premier League, and yet the Americans haven't done anything to boost our finances.
"They cover all of our financial guarantees to make sure we've got coverage, that's what they do and it takes that pressure off myself and one or two others that were working in the club at that time."
"We've increased our overdraft, we've done various things. And they're obviously trying to increase commercial revenue and grow the club that way, which they will do, they've got a lot of big commercial contacts and I don't doubt they will do that."
it sounds to me like we could have just hired them as consultants. Recruit them to improve us commercially and add some much needed business knowledge and expertise that has been lacking at Swansea City Football Club for years and years.
Yes, the responsibility of the finances is off Huw Jenkins and co's hands, but it's still there regardless. I'm just struggling to see what the sale has done or will do 'for the good of the club' as Huw puts it.
We're still selling players to buy, our financial position is no different and in January we'll be using the net profit made in the Summer to try and improve the squad.