I would guess that the loans have a simple change of control clause which will require the loans to either be repaid in full on change of control or rolled over when the change of control happens. It would appear that the Aussies do not want to have the debt and have suggested that RD pays it off out of the consideration that they will pay. RD has to negotiate a fair value for the loans and the former directors are not giving away the potential right to future repayment on the cheap. Be clear, the former directors will have loaned the £7m and for them to take anything less than £7m back they will be making a personal loss The former directors will be unhappy about being nickle and dimed by RD particularly since, when they agreed the last rollover, we were a championship club with the potential to get into the premier league when the loans would have become due. RD is therefore attempting to increase his return on sale by reducing the value of loans made by the former directors at a time when the club was in dire straights. Possible to describe this as a vulture picking the bones clean.
Wolves have just won Promotion to the Premier with a wind fall of 200 million because of TV rights etc.
If the ex directors payments are 7 million for promotion to the promise land then WHY is this such a stumbling block, as in that unlikely senario it would be 3.5% of said windfall.
7 million is a fortune to a struggling league 1 club who are penny pinching and buying at Poundland, BUT not to a newly promoted Premier club buying at Harrods.
Do the payments to the ex directors go up pro rata on the monies received from TV, increased crowds and merchandising etc when premier status is achieved ?
I'm still believe Duchatelet is to blame for this impasse but i can't see why this has become such a problem ?
I think some people are getting a little ahead of themselves. If the Aussies do manage to buy us, what makes you think it is a given that we will get to the Championship let alone the top flight?
£7m would represent a huge transfer budget at this level and to have to pay this money out unnecessarily makes no business sense at all.
It makes complete sense that Roland would clear the debt to make the sale though. As we know though Roland isn't known for making sensible business choices around football matters.
You haven't read what I said !
In the unlikely event of Cafc getting into the premier( it ain't going to happen)
Then and only then will the 7 million need to be paid. Wolves will make 200 million for getting into the premier. 3.5% if they had a similar issue of 7 million to be paid.
I would guess that the loans have a simple change of control clause which will require the loans to either be repaid in full on change of control or rolled over when the change of control happens. It would appear that the Aussies do not want to have the debt and have suggested that RD pays it off out of the consideration that they will pay. RD has to negotiate a fair value for the loans and the former directors are not giving away the potential right to future repayment on the cheap. Be clear, the former directors will have loaned the £7m and for them to take anything less than £7m back they will be making a personal loss The former directors will be unhappy about being nickle and dimed by RD particularly since, when they agreed the last rollover, we were a championship club with the potential to get into the premier league when the loans would have become due. RD is therefore attempting to increase his return on sale by reducing the value of loans made by the former directors at a time when the club was in dire straights. Possible to describe this as a vulture picking the bones clean.
Not to forget that the Ex Directors also owned around 80% of the original equity that was written off approximately £25mn and wrote off a Convertible Bond worth £14mn when they walked away and left that £7mn Debenture, so they have written off almost £40mn between the 7 of them already. Now Roland wants more than he paid for the Club and them to take a discount? No wonder they told him where to go!
£7m is a substantial sum in L1 and a premium of 20% on the asking price if around £35m. But personally think the issue is less to do with the sum of money than the power that the debenture holders have, their preference in the event of insolvency and the fact that clean title will be required to obtain further loans or investment especially if obtained against assets. Sorry for a logical post.
I don’t think it’s just directors loans as I believe that could be worked through very quickly and easily with both parties pay 50% and I think both parties would agree to that and that all the directors would also
I get the feeling there’s more twists in this still to come out and that once again we are not even close to getting this over the line
I don’t think it’s just directors loans as I believe that could be worked through very quickly and easily with both parties pay 50% and I think both parties would agree to that and that all the directors would also
I get the feeling there’s more twists in this still to come out and that once again we are not even close to getting this over the line
It has to be more than just the director debt
Roland wants to keep the freehold of The Valley and/or the training ground I reckon and some of the £7m directors, God bless them, are defending our (the fans) interests by refusing to allow it.
For the last fecking time......the ex-director loans DO NOT have to be repaid AT ALL until we reach the Premiership. There is NO OUTLAY NOW. This figure may NEVER have to be repaid EVER if we never reach thse Premiership.
Anyone buying us now could simply take on the liability in the knowledge that they will only EVER have to find £7m when the promised land is reached & if thats in the next 5-10 years then any payment from the PL will cover this many many times over.
Furthermore. The £7m does not increase over time. It is not inflation linked. Even in 20 years time it is £7m. To me as a financial man it is a very attractive type of debt. One (or more) of the loanees may wanr repaying before then anyway (divorce/ex wife/widow/retirement) and so may want to cut a deal SOMETIME IN THE FUTURE.
The only negative aspect (for any new owner)is that the loanees have first charge over The Valley, which could make it harder to borrow.....but if they have their funding & 5 year plan why the need to borrow against the ground ??
To me its a no brainer. IF this is the only/main reason for the delay then I would ask why ??. By delaying the takeover for months means this season is now a write off & our best bet is that we survive relegation when a properly funded squad could challenge for promotion.
So please can we put to bed the mantra of "why should The Aussies pay this debt in addition to the purchase price". They do not have to find the £7m now.....it will not detract from any current funding....its is a red herring.
Stone me! I am agreeing with a Golfir post. NURSE!!!
Scratching. Please stop guessing. Golfie has provided a logical arguement. I have not even seen any evidence that the debentures have led to a charge on the Valley. Can someone do a simple Land Registry sesrch to clarify? SE7 8BL.
For the last fecking time......the ex-director loans DO NOT have to be repaid AT ALL until we reach the Premiership. There is NO OUTLAY NOW. This figure may NEVER have to be repaid EVER if we never reach thse Premiership.
Anyone buying us now could simply take on the liability in the knowledge that they will only EVER have to find £7m when the promised land is reached & if thats in the next 5-10 years then any payment from the PL will cover this many many times over.
Furthermore. The £7m does not increase over time. It is not inflation linked. Even in 20 years time it is £7m. To me as a financial man it is a very attractive type of debt. One (or more) of the loanees may wanr repaying before then anyway (divorce/ex wife/widow/retirement) and so may want to cut a deal SOMETIME IN THE FUTURE.
The only negative aspect (for any new owner)is that the loanees have first charge over The Valley, which could make it harder to borrow.....but if they have their funding & 5 year plan why the need to borrow against the ground ??
To me its a no brainer. IF this is the only/main reason for the delay then I would ask why ??. By delaying the takeover for months means this season is now a write off & our best bet is that we survive relegation when a properly funded squad could challenge for promotion.
So please can we put to bed the mantra of "why should The Aussies pay this debt in addition to the purchase price". They do not have to find the £7m now.....it will not detract from any current funding....its is a red herring.
Stone me! I am agreeing with a Golfir post. NURSE!!!
You are agreeing that the loans do not need to be paid until with play in the top tier of Scottish foitball ? :-)
Scratching. Please stop guessing. Golfie has provided a logical arguement. I have not even seen any evidence that the debentures have led to a charge on the Valley. Can someone do a simple Land Registry sesrch to clarify? SE7 8BL.
Wolves have just won Promotion to the Premier with a wind fall of 200 million because of TV rights etc.
If the ex directors payments are 7 million for promotion to the promise land then WHY is this such a stumbling block, as in that unlikely senario it would be 3.5% of said windfall.
7 million is a fortune to a struggling league 1 club who are penny pinching and buying at Poundland, BUT not to a newly promoted Premier club buying at Harrods.
Do the payments to the ex directors go up pro rata on the monies received from TV, increased crowds and merchandising etc when premier status is achieved ?
I'm still believe Duchatelet is to blame for this impasse but i can't see why this has become such a problem ?
I think some people are getting a little ahead of themselves. If the Aussies do manage to buy us, what makes you think it is a given that we will get to the Championship let alone the top flight?
£7m would represent a huge transfer budget at this level and to have to pay this money out unnecessarily makes no business sense at all.
It makes complete sense that Roland would clear the debt to make the sale though. As we know though Roland isn't known for making sensible business choices around football matters.
You haven't read what I said !
In the unlikely event of Cafc getting into the premier( it ain't going to happen)
Then and only then will the 7 million need to be paid. Wolves will make 200 million for getting into the premier. 3.5% if they had a similar issue of 7 million to be paid.
I did, but perhaps didn't allow enough for your emphisis, however, I assume that the Aussies will have ambitions to get into the Prem, unlike Roland. Nothing wrong with ambition.
If I were a businessman looking to get a club into the Prem, then I wouldn't want this debt to have to be paid up taking the gloss and most importantly, profit off the achievement. The debt is Roland's and he needs to clear it or reduce the fee for the club by £7m.
Take a look at the last figures for Prem clubs, there are some big profits for some clubs, but Watford only made £3m, £2m the year before. Man City didn't make a profit, others lost money. Simply getting an extra £200m income doesn't guarantee a profit. If I was in the Aussie consortium, I wouldn't take the club unless the £7m debt was cleared beforehand.
I would guess that the loans have a simple change of control clause which will require the loans to either be repaid in full on change of control or rolled over when the change of control happens. It would appear that the Aussies do not want to have the debt and have suggested that RD pays it off out of the consideration that they will pay. RD has to negotiate a fair value for the loans and the former directors are not giving away the potential right to future repayment on the cheap. Be clear, the former directors will have loaned the £7m and for them to take anything less than £7m back they will be making a personal loss The former directors will be unhappy about being nickle and dimed by RD particularly since, when they agreed the last rollover, we were a championship club with the potential to get into the premier league when the loans would have become due. RD is therefore attempting to increase his return on sale by reducing the value of loans made by the former directors at a time when the club was in dire straights. Possible to describe this as a vulture picking the bones clean.
Not according to the ex-directors or the person who drew up the deal - no consent is required.
Christ! Some people are so free and easy...with other people’s money!
How much will it take to build a promotion winning League 1 club? Then how much to do it again in the Championship?
How much is Roland chipping in to help build those squads? To put the resources in place to make it happen?
He allegedly paid between £14m-£18m for the Club, with those charges/loans in place. He’s now looking for a £17m-£21m mark-up after 4 of the worst bloody years in our history!!
What improvements has he made? Pitch, seats and a couple of ditches at the training ground maybe. Very generous on that last one, as they could actually be seen as value reducing.
Is the squad better? Are we in a higher division?
Why the fuck should he get a further £7m premium, when he has done absolutely fuck all to earn it?
A lot of people on here thinking this is some sort of fantasy football game. Grow up!
You forgot to mention a stand alone boiler, and to make myself perfectly clear I’m not referring to our former ‘chief executive’.
Its surprising how few bands are named after fish.
Shrimp Shrimp Sputnik
You get The Animals, not The Fish, you get The Herd, not The Shoal. Blodwyn Pig, Not Blodwyn Pike.
Henry Cow. What's wrong with Henry Cod?
What have we got against fish?
I saw Henry Cow. They were support band to Captain Beefheart at Hove Town Hall sometime in the 70’s.
Ah! Trout Mask Replica. Well played.
At the risk of getting hammered by the moderators, how weird was that album considered when it was released? 1970? Another one I remember was ‘Weasels Ripped My Flesh’ by The Mothers of Invention (Frank Zappa).
I'm aware that this - the most popular thread on any forum, anywhere (or something like that) - attracts a lot of people who are very familiar with the takeover. People have spent more than a year forensically examining every jot and tittle of leaks, rumours, guesses, dissembling, fabrication, diversion and supposition. The motivation, wealth and travel plans of super-rich individuals from good guys in Australia to a Melexis madman in Belgium have been pored over in microscopic detail. Everyone who has made their way from page 1 to page 1116+ has become something of an expert - both in international finance and relaxation techniques required to deal with the one constant: waiting.
But I am also aware that some people visit rarely, some people aren't even Charlton fans and some people simply don't get what the fuss is about.
So here's the thing. In the 1940s we won the FA Cup. We're the only team playing in South London that has done. But we are not going to win it again this season. In the 1980s we signed the best player in Europe. But we are not going to sign the best players in South London this season. In the 1990s, we played in Europe. But we're not going to play competitive matches outside England this season. In the 2000s we competed at the higher end of the Premier League. In 2004 we finished as the third-highest placed London team. This season, we're fighting with AFC Wimbledon for the title of tenth-highest.
This season, we won't win anything.
But we are going to celebrate as if we have won promotion, the women's team have won the league, Charlton Invicta have won their league and the Upbeats have rightfully been named in the BBC Sports Personality of the Year awards as Team of the Year. Why? Because the life will be put back into the club the day - the moment - the takeover is complete.
Fans of other teams won't get it. Success is measured on the pitch, they'll claim. You can't celebrate a change of ownership, when there are points still to win. Wrong!
The takeover, when it happens, will be the most important thing that has happened to this club this century. And the galvanising effect it will have on the club, its prospects and its fans will be transformational. Improved crowds, better support, optimistic attitude, better press, more attention, better signings, more points, higher finish, healthier, happier future.
The most important, most worthwhile single piece of news that can emanate from SE7. So, to all fans of other clubs, here's the thing: we're going to go fucking mental when it happens. It's bigger than you winning the Premier League. It's more important than you pocketing shed loads of euros from a Champions League. This is our club, our title, our cup, our win, our celebration. And we're going to make the most of it.
Nick Hornby's 1992 book, "Fever Pitch", culminates, as we all know, with the Woolwich rejects winning the League in 1989. In it he writes about his reaction including the memory of the banter bullying and bitchiness of his friends from school and work over the years. And how he would like to see their reaction at that time. Well this takeover will be bigger and better than that.
It's so important, it's so welcome and it's going to be so transformational that I would like to say simply, "I can't wait". But, as the last year or so has proved, I can. And I will.
Hold tight - it's on its way.
I’m spending the day, yes the day, catching up on this thread. And before anyone gets in and says it, I do have a life. Just read this post. With the addition of a few ‘doths’ and ‘wherefores’ this could be Shakespeare. Henry the Fifth springs to mind. Thankyou Chizz.
I can see it clearly.
'Chizz', performed at the Globe theatre, by Catfordmorry, dressed in doublet, ruff and hose. The groundlings (from the covered end) doth hiss and boo, and wherefore the happy clapping? The East and West galleries of course.
I’m dusting off my codpiece as we speak.
‘Rather proclaim it, Chizz, through my host, Roland Out!’
The ex-directors don't have a say whether the loans are rolled over - so none of the 7 are unilaterally holding up the deal. They do not need to be consulted.
The amount to be repaid is sometime in the future.....maybe never. When it is repaid it is at a time when (all thing being equal) the amount to be repaid is a small amount of what would be then available.
Good. Glad thats settled.
No need to take out your frustration on the apostrophe in that’s, what’s she/he ever done to you?
Truth is, nobody is really (ITK) everyone at this point is guessing or trying to make logical assumptions based on say so. Other then Roland and the Australians nobody really knows what is going on. And that's not going to change I feel any time soon. We are just going around and around and around in circles and I believe when there is actual positive news regarding the take over, it will come to the fore front, there would only be so long that Charlton and the Aussies would be able to keep it from the media and other sources.
That's not putting anyone here down, its just simply how it is.
For the last fecking time......the ex-director loans DO NOT have to be repaid AT ALL until we reach the Premiership. There is NO OUTLAY NOW. This figure may NEVER have to be repaid EVER if we never reach thse Premiership.
Anyone buying us now could simply take on the liability in the knowledge that they will only EVER have to find £7m when the promised land is reached & if thats in the next 5-10 years then any payment from the PL will cover this many many times over.
Furthermore. The £7m does not increase over time. It is not inflation linked. Even in 20 years time it is £7m. To me as a financial man it is a very attractive type of debt. One (or more) of the loanees may wanr repaying before then anyway (divorce/ex wife/widow/retirement) and so may want to cut a deal SOMETIME IN THE FUTURE.
The only negative aspect (for any new owner)is that the loanees have first charge over The Valley, which could make it harder to borrow.....but if they have their funding & 5 year plan why the need to borrow against the ground ??
To me its a no brainer. IF this is the only/main reason for the delay then I would ask why ??. By delaying the takeover for months means this season is now a write off & our best bet is that we survive relegation when a properly funded squad could challenge for promotion.
So please can we put to bed the mantra of "why should The Aussies pay this debt in addition to the purchase price". They do not have to find the £7m now.....it will not detract from any current funding....its is a red herring.
Do the ex-directors have to agree to have their loans rolled over to a new party on the same conditions (no pay until Prem) or can Roland do it unilaterally?
No they don’t have to agree. But they can make life difficult for the new owner by obstructing leases or other disposal of land and they hold the first charge - over the owner - if things go pear-shaped financially.
I don’t personally think they are the only issue.
So what are the other issues then?
Roland fell over trying to put his kecks on in his bedroom, broke his fall with his arms but fractured both wrists which are now in plaster and he can't sign the contract.
Haven't got a clue what's happening with the takeover but wonder if the hold up is anything to do with future add-ons regarding sales of Gomez, Lookman and pope or any others I may have missed. And also wouldn't Keith Harris have conflicting issues if Lookman was to be sold? as I thought he was a director of Everton.
I would guess that the loans have a simple change of control clause which will require the loans to either be repaid in full on change of control or rolled over when the change of control happens. It would appear that the Aussies do not want to have the debt and have suggested that RD pays it off out of the consideration that they will pay. RD has to negotiate a fair value for the loans and the former directors are not giving away the potential right to future repayment on the cheap. Be clear, the former directors will have loaned the £7m and for them to take anything less than £7m back they will be making a personal loss The former directors will be unhappy about being nickle and dimed by RD particularly since, when they agreed the last rollover, we were a championship club with the potential to get into the premier league when the loans would have become due. RD is therefore attempting to increase his return on sale by reducing the value of loans made by the former directors at a time when the club was in dire straights. Possible to describe this as a vulture picking the bones clean.
Not to forget that the Ex Directors also owned around 80% of the original equity that was written off approximately £25mn and wrote off a Convertible Bond worth £14mn when they walked away and left that £7mn Debenture, so they have written off almost £40mn between the 7 of them already. Now Roland wants more than he paid for the Club and them to take a discount? No wonder they told him where to go!
It felt like Derek Chapple was here for 5 minutes yet lost about £15M!
I would guess that the loans have a simple change of control clause which will require the loans to either be repaid in full on change of control or rolled over when the change of control happens. It would appear that the Aussies do not want to have the debt and have suggested that RD pays it off out of the consideration that they will pay. RD has to negotiate a fair value for the loans and the former directors are not giving away the potential right to future repayment on the cheap. Be clear, the former directors will have loaned the £7m and for them to take anything less than £7m back they will be making a personal loss The former directors will be unhappy about being nickle and dimed by RD particularly since, when they agreed the last rollover, we were a championship club with the potential to get into the premier league when the loans would have become due. RD is therefore attempting to increase his return on sale by reducing the value of loans made by the former directors at a time when the club was in dire straights. Possible to describe this as a vulture picking the bones clean.
Not according to the ex-directors or the person who drew up the deal - no consent is required.
All I can gather from the whole thing that the sale price is not actually agreed. The figure appears to be out by the ex directors loan amounts.
That and all the other named problems holding up the deal.
Wolves have just won Promotion to the Premier with a wind fall of 200 million because of TV rights etc.
If the ex directors payments are 7 million for promotion to the promise land then WHY is this such a stumbling block, as in that unlikely senario it would be 3.5% of said windfall.
7 million is a fortune to a struggling league 1 club who are penny pinching and buying at Poundland, BUT not to a newly promoted Premier club buying at Harrods.
Do the payments to the ex directors go up pro rata on the monies received from TV, increased crowds and merchandising etc when premier status is achieved ?
I'm still believe Duchatelet is to blame for this impasse but i can't see why this has become such a problem ?
I think some people are getting a little ahead of themselves. If the Aussies do manage to buy us, what makes you think it is a given that we will get to the Championship let alone the top flight?
£7m would represent a huge transfer budget at this level and to have to pay this money out unnecessarily makes no business sense at all.
It makes complete sense that Roland would clear the debt to make the sale though. As we know though Roland isn't known for making sensible business choices around football matters.
You haven't read what I said !
In the unlikely event of Cafc getting into the premier( it ain't going to happen)
Then and only then will the 7 million need to be paid. Wolves will make 200 million for getting into the premier. 3.5% if they had a similar issue of 7 million to be paid.
I did, but perhaps didn't allow enough for your emphisis, however, I assume that the Aussies will have ambitions to get into the Prem, unlike Roland. Nothing wrong with ambition.
If I were a businessman looking to get a club into the Prem, then I wouldn't want this debt to have to be paid up taking the gloss and most importantly, profit off the achievement. The debt is Roland's and he needs to clear it or reduce the fee for the club by £7m.
Take a look at the last figures for Prem clubs, there are some big profits for some clubs, but Watford only made £3m, £2m the year before. Man City didn't make a profit, others lost money. Simply getting an extra £200m income doesn't guarantee a profit. If I was in the Aussie consortium, I wouldn't take the club unless the £7m debt was cleared beforehand.
Yes, I probably wouldn't want to pay it either but as I said in an earlier post, its time to shit or get off the pot. Finding £7m sometime in the future isn't really the problem if you now have to find another £5m in 1-2 years time because you dithered around for months & your spanking new toy has slithered its way into League 2. Just total false economy in my view. Last time I talk about it as I see lots of you have a different opinion...........but I'll let you know I'll be the one shouting out at the twonks when we're playing Bury or Carlise next season.
Wolves have just won Promotion to the Premier with a wind fall of 200 million because of TV rights etc.
If the ex directors payments are 7 million for promotion to the promise land then WHY is this such a stumbling block, as in that unlikely senario it would be 3.5% of said windfall.
7 million is a fortune to a struggling league 1 club who are penny pinching and buying at Poundland, BUT not to a newly promoted Premier club buying at Harrods.
Do the payments to the ex directors go up pro rata on the monies received from TV, increased crowds and merchandising etc when premier status is achieved ?
I'm still believe Duchatelet is to blame for this impasse but i can't see why this has become such a problem ?
I think some people are getting a little ahead of themselves. If the Aussies do manage to buy us, what makes you think it is a given that we will get to the Championship let alone the top flight?
£7m would represent a huge transfer budget at this level and to have to pay this money out unnecessarily makes no business sense at all.
It makes complete sense that Roland would clear the debt to make the sale though. As we know though Roland isn't known for making sensible business choices around football matters.
You haven't read what I said !
In the unlikely event of Cafc getting into the premier( it ain't going to happen)
Then and only then will the 7 million need to be paid. Wolves will make 200 million for getting into the premier. 3.5% if they had a similar issue of 7 million to be paid.
I did, but perhaps didn't allow enough for your emphisis, however, I assume that the Aussies will have ambitions to get into the Prem, unlike Roland. Nothing wrong with ambition.
If I were a businessman looking to get a club into the Prem, then I wouldn't want this debt to have to be paid up taking the gloss and most importantly, profit off the achievement. The debt is Roland's and he needs to clear it or reduce the fee for the club by £7m.
Take a look at the last figures for Prem clubs, there are some big profits for some clubs, but Watford only made £3m, £2m the year before. Man City didn't make a profit, others lost money. Simply getting an extra £200m income doesn't guarantee a profit. If I was in the Aussie consortium, I wouldn't take the club unless the £7m debt was cleared beforehand.
Yes, I probably wouldn't want to pay it either but as I said in an earlier post, its time to shit or get off the pot. Finding £7m sometime in the future isn't really the problem if you now have to find another £5m in 1-2 years time because you dithered around for months & your spanking new toy has slithered its way into League 2. Just total false economy in my view. Last time I talk about it as I see lots of you have a different opinion...........but I'll let you know I'll be the one shouting out at the twonks when we're playing Bury or Carlise next season.
Comments
It would appear that the Aussies do not want to have the debt and have suggested that RD pays it off out of the consideration that they will pay.
RD has to negotiate a fair value for the loans and the former directors are not giving away the potential right to future repayment on the cheap. Be clear, the former directors will have loaned the £7m and for them to take anything less than £7m back they will be making a personal loss
The former directors will be unhappy about being nickle and dimed by RD particularly since, when they agreed the last rollover, we were a championship club with the potential to get into the premier league when the loans would have become due.
RD is therefore attempting to increase his return on sale by reducing the value of loans made by the former directors at a time when the club was in dire straights. Possible to describe this as a vulture picking the bones clean.
In the unlikely event of Cafc getting into the premier( it ain't going to happen)
Then and only then will the 7 million need to be paid.
Wolves will make 200 million for getting into the premier.
3.5% if they had a similar issue of 7 million to be paid.
Now Roland wants more than he paid for the Club and them to take a discount? No wonder they told him where to go!
I get the feeling there’s more twists in this still to come out and that once again we are not even close to getting this over the line
It has to be more than just the director debt
League 2 beckons if Roland continues as he has.
If they were that confident to attract investment why has Muir not fronted the money
If I were a businessman looking to get a club into the Prem, then I wouldn't want this debt to have to be paid up taking the gloss and most importantly, profit off the achievement. The debt is Roland's and he needs to clear it or reduce the fee for the club by £7m.
Take a look at the last figures for Prem clubs, there are some big profits for some clubs, but Watford only made £3m, £2m the year before. Man City didn't make a profit, others lost money. Simply getting an extra £200m income doesn't guarantee a profit. If I was in the Aussie consortium, I wouldn't take the club unless the £7m debt was cleared beforehand.
https://www.theguardian.com/football/2018/jun/06/premier-league-finances-club-guide-2016-17
Another one I remember was ‘Weasels Ripped My Flesh’ by The Mothers of Invention (Frank Zappa).
‘Rather proclaim it, Chizz, through my host,
Roland Out!’
That's not putting anyone here down, its just simply how it is.
That and all the other named problems holding up the deal.