Who can't have had that 'deja-vu' feeling with Livi going into administration? £10million in debt? It only seems like three and a half years ago that they took a massive 1500 to the challenge cup final against Airdrieonians. The sums just never seem to be adding up. Well one does. In the Daily Record today, they had an article about the level of debt in the SPL. Quite how the clubs have go into that mess is beyond me. You can't blame rebuilding as that should have been budgeted. Too much money has been splashed on rotten players. Too many teams ignored the Taylor report till the last minute, preferring to keep their teams competitive. Then they and the banks took it to the limits with monstrous players contracts. Why teams didn't have sensible player budgets is nonsensical. Excluding Celtic and Thistle (?), who don't bank with HBOS, they're £163,000,000 approximately in debt. Have a look at the banks role. If they are loaning out that kind of money at 5%APR, they'll be raking in about £9m a year in interest. Livi are supposedly £10m in debt. We all knew that their crowd was 'bloated' with freebies, and rightly you do need to speculate a bit to bring them in, but you can't go spending what you don't have. Though I don't like him much, Geoff Brown was right in his comments when he criticised the spendthrift nature of the game. Some chickens have truly come home to roost in those three years. To think Airdrieonians had their stadium completely built and were only half a million out at the bank, it really puts things in perspective and makes our then board's management look ridiculous. Crazy! One last thing, is it right that clubs who've gone into liquidation are allowed to sign players (Dundee have a couple of new faces in the window, and Motherwell have just about signed a full team since administration). Shouldn't there be a transfer embargo for clubs in adminstration?