Karen Brady in the super soraway Sun at the weekend said that 3 clubs are close to administration in the championship. Now that Richard Murray said that there is no way that the board will let the club go into administration will we stay up due to say to clubs being deducted 10 points.
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Why would any other club make that moonfaced bint aware of their finances? Particularly ones that are not publically quoted? Slow news day, there is only so many times you can make up numbers about Kaka's transfer.
What would be the reaction though, if we do go into administration in the next 18 months? Would Murray's credibility be shot completely?
Also, she may well be thinking we are one of the three, as I doubt her views are based on anything more than conjecture.
I disagree a little, WIWLB - I don't really care how we get out of it - anything will do! Still feel we are 'owed' something by the WHU debacle when we got relegated from the Prem, so there would be a sort of justice to this happening now for me.
Nevertheless, there seems to be an awareness at Board level of the general finance situation of all other clubs.
Firstly, many clubs have been showing financial distress signals for some time now, let alone published in their annual reports. All common knowledge.
Secondly, at each match opposing directors get the chance to mingle, so there's likely to be a bit of 'off the record' chat, no doubt.
Also, at a supporters club meeting, Richard Murray said there are several Championship clubs in a worse financial situation than Charlton.
So if he knows, then so do key personel at other clubs.
If it's Lita, I won't complain!!
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Forest and Doncaster just came up, Derby were only in the prem 1 year so they won't have been too badly affected, and can't really see it being the likes of Plymouth or Blackpool. It would only be clubs who'd been relegated from the premier league.
Hopefully it's Palace though.
The recent share issue /bond was to remove the threat of "immediate debt" this is due to be repaid to the people who fronted the money RM /DC etc in 2023 (i think). Now you could say its in the Directors best intrest that we get back to the prem as thats the only way (other then another Zebel) that they can get their outlay back.
It's all to do with timing -think if it's before March, it is that season, after that, the following season. Someone may know the exact detail better.
Where did you hear it was 2023?
Bank Loans " at 30 June 2008 the group had the following bank loans:
* £2,901,581 at a fixed rate of 6.4016 % per annum repayable by instalments by 30 September 2013
* £3,838,082 at a flating rate of 1.7% above base rate per an, repayable in instalments by 30 Sept 2013
* £331,427 at a flating rate of 2% above base rate per an,repayable by 30th April 2010."
The above all on page 28 of full report.
"10 equal annual instalments commencing on 29th September 2014", so that's 2024 then isn't it, around £1.4m a year, starting in 2014.
Unless of course if it's paid off earlier (if we get a takeover, like Zabeel would have done).
Why would they want to do that?
1) The club have got £6 million mortgage on the ground improvements - secured by tangible assets.
2) Plus a £14 million debt they owe to themselves.
3) There's an overdraft for covering essential cashflow, same as with any other business, including mine.
So the debt, at least for the foreseeable future is structured and under control,
although we'll know it needs configuring again next season regardless of which Division we play in, principally because of loss of parachute payments.
But there's still more cloth to cut with player contracts.
What we don't have, as both Murray and Chappell have made clear, is squad investment funds unless it can be generated by selling existing players.
And they've both stated that they won't go into debt to generate player purchase funds.
But nobody pretends the picture is rosy.