Post-takeover: Club finances

AFKABartram

Thread for any knowledge on the club's financial position / debts


Do the existing long-term creditors previous debts been rolled (payable on prem promotion) ?

Has the £4m mortgages Lombard been paid, or remain ?

Do any outstanding loans to Cash & Co remain ?

Does the HSBC overdraft remain maxed out, and in Murray's name ?

Airman Brown

The important thing is whether the debt to the BVI company has gone. I'd assume that's the case as it now has no shares and no representation on the board.

The RBS loan is interesting, but manageable either way, while the debt to former directors and Murray is less of a concern (to fans) because it's contingent on promotion.

If the BVI debt has gone then the club is in a better financial position than three years ago, because RBS/Lombard has been paid down from that source in the meantime anyway.

You'd think Murray can't be expected to keep guaranteeing the HSBC overdraft if he now has no shares, but it's incredible he's still been in that position anyway.

Red_in_SE8

The announcement says the terms of the deal are confidential. Does this mean we will never know the answers to these questions?

JWADDICK

Red_in_SE8 said:

The announcement says the terms of the deal are confidential. Does this mean we will never know the answers to these questions?

To a degree, yes. The fine print details in most business transactions are confidential as anybody being bought out may not require the general public to know the ins and outs of their financial position.

On the other hand once the dust has settled and the new structure becomes clearer, accounts will be published, as will annual returns and other statutory reports
which will give anybody who can read/understand these things the ability to see what has gone on in terms of reorganisation or refinancing. Unfortunately there are many people who think they understand finance but frankly who do not and those individuals will continue to put 2+2 together and make at least 5.

Don't worry I see months of good old fashioned ill informed comment and speculation ahead.

jackmasterflash

It is clear that we need to sign contracts soon this week and buy 2 or 3 good players.

carly burn

They talk about passing the Baton. But does Baton2010 ltd now cease to exist?

Athletico Charlton

If he bought us for 20M as reported this most likely went in as a directors loan rather than equity so same or more debt just different lender is my guess.