It may be my lack of business knowledge but it baffles me that it's legal to charge interest on the money you paid for an asset as "a debt".
Depends how you structure the deal, as I understand it. That £18.6m debt was already in the books, so RD was able to leave it there. He’s then charged parent company Baton 2010 Ltd - but not CAFC Ltd, even though CAFC Limited owes the money - interest on it.
It’s semantics up to a point - it allows him to show a bigger loss and may or may not be a consideration in his sale price. But there is no money actually being paid out, it’s just adding to the debt.
But who is silly enough to take on this much debt? with little chance of is ever being repaid?
It may be my lack of business knowledge but it baffles me that it's legal to charge interest on the money you paid for an asset as "a debt".
Depends how you structure the deal, as I understand it. That £18.6m debt was already in the books, so RD was able to leave it there. He’s then charged parent company Baton 2010 Ltd - but not CAFC Ltd, even though CAFC Limited owes the money - interest on it.
It’s semantics up to a point - it allows him to show a bigger loss and may or may not be a consideration in his sale price. But there is no money actually being paid out, it’s just adding to the debt.
But who is silly enough to take on this much debt? with little chance of is ever being repaid?
As above the money RD has actually put in could be repaid by getting promoted to the Premier League, so I guess it depends to what extent a buyer is committed to achieving that. Essentially, RD wants someone else to pay towards his failure.
The reason someone might meet him halfway is that there are a limited number of London clubs likely to be available with a stadium suitable for PL football.
His problem is that if he doesn’t sell the debt keeps on climbing, because there will always be an operating loss in L1 or the Championship. There will be opportunities to offset that with player sales, as the 16-17 accounts will demonstrate, but it’s unworkable as a long-term business plan.
It’s true the club will be worth a bit more if the team is promoted, but this boost will soon be swallowed by new operating losses, while selling at the point of promotion requires a willing buyer at that time. And if the team misses out, you are suddenly further back than where you started.
There’s a Fans’ Forum meeting tomorrow night, called at short notice to discuss the Portsmouth game. Presumably the club will want to take the opportunity to issue a categoric denial on the record that there has been any due diligence, that the club is for sale, etc.
Therefore this thread will be put put of its misery?
There’s a Fans’ Forum meeting tomorrow night, called at short notice to discuss the Portsmouth game. Presumably the club will want to take the opportunity to issue a categoric denial on the record that there has been any due diligence, that the club is for sale, etc.
Therefore this thread will be put put of its misery?
On the basis that Katrien Meire’s record of truthfulness when talking to fans (and media) is outstanding?
There’s a Fans’ Forum meeting tomorrow night, called at short notice to discuss the Portsmouth game. Presumably the club will want to take the opportunity to issue a categoric denial on the record that there has been any due diligence, that the club is for sale, etc.
Therefore this thread will be put put of its misery?
On the basis that Katrien Meire’s record of truthfulness when talking to fans is outstanding?
well let's hope she doesn't say that a sale is happening then
FC Carl Zeiss Jena's Members Association had their AGM yesterday - the notes on FCC's OS are now posted on the FCC 2017/18 thread. May be some interesting comparisons to be made ....
Could vereyone try and back off @DOUCHER a bit. He has offered a different perspective from his sources. From someone with absolutely NO sources, his are equally valid as Airman Brown, so while the message maybe unpopular, I don't see the need for all the invective. I complained when he hurled one or two at Airman, but since then, every time he posts he gets unnecessary abuse. Why the need to dig people out if you disagree with them - he may have a valid source of information too.
It's not that I disagree with them. His story had changed 3 or 4 times except he has claimed that it is what he has said since the beginning (despite being shown evidence of what he originally said). He has then claim some kind if victory or vindication that he was right all along as his latest story happens to match up with that of Airmans.
Personally I think he is just a massive bullshitter.
October 24
Airman Brown said:
» show previous quotes
I'm sure that's what you've been told and it may be that nothing will happen. However, I wouldn't have put it out there without having very solid and detailed information from more than one credible source. So I am confident that "there is nothing happening and it's been a non-story from the start" is simply not true.Fair enough but for me to be told what I've been told would suggest that if something was happening, it's not now - like you, we're only going by what others tell us.
Read it and weep canters - once things get anywhere near the newcasfle situation is when we are anywhere near a story. Candy from m a baby
Could vereyone try and back off @DOUCHER a bit. He has offered a different perspective from his sources. From someone with absolutely NO sources, his are equally valid as Airman Brown, so while the message maybe unpopular, I don't see the need for all the invective. I complained when he hurled one or two at Airman, but since then, every time he posts he gets unnecessary abuse. Why the need to dig people out if you disagree with them - he may have a valid source of information too.
It's not that I disagree with them. His story had changed 3 or 4 times except he has claimed that it is what he has said since the beginning (despite being shown evidence of what he originally said). He has then claim some kind if victory or vindication that he was right all along as his latest story happens to match up with that of Airmans.
Personally I think he is just a massive bullshitter.
October 24
Airman Brown said:
» show previous quotes
I'm sure that's what you've been told and it may be that nothing will happen. However, I wouldn't have put it out there without having very solid and detailed information from more than one credible source. So I am confident that "there is nothing happening and it's been a non-story from the start" is simply not true.Fair enough but for me to be told what I've been told would suggest that if something was happening, it's not now - like you, we're only going by what others tell us.
Read it and weep canters - once things get anywhere near the newcasfle situation is when we are anywhere near a story. Candy from m a baby
Canters is somebody who keeps trying to call me a bullshitter or backtracker- a bit like you - the above is my stance on the takeover - iand has been throughout - I wouldn't have brought it up again but it keeps getting brought up on other threads by some who can't accept it
Except the above was your third post claiming to be itk about the takeover. That is you backtracking.it wasn't your stance from the beginning. Your comments were very different at the beginning. This is you changing your story so it matched with what AB redhenry and others had said.
I've quoted your previous comments before and suddenly you had nothing to say. I won't do it again.
You have the reasoning age of a 10 year old and I won't be replying to you again. Bye.
Except the above was your third post claiming to be itk about the takeover. That is you backtracking.it wasn't your stance from the beginning. Your comments were very different at the beginning. This is you changing your story so it matched with what AB redhenry and others had said.
I've quoted your previous comments before and suddenly you had nothing to say. I won't do it again.
You have the reasoning age of a 10 year old and I won't be replying to you again. Bye.
Canters is somebody who keeps trying to call me a bullshitter or backtracker- a bit like you - the above is my stance on the takeover - iand has been throughout - I wouldn't have brought it up again but it keeps getting brought up on other threads by some who can't accept it
And once again you just ignore the provided evidence that proves Canters right. Definitely just a wum. And not a very good one.
Except the above was your third post claiming to be itk about the takeover. That is you backtracking.it wasn't your stance from the beginning. Your comments were very different at the beginning. This is you changing your story so it matched with what AB redhenry and others had said.
I've quoted your previous comments before and suddenly you had nothing to say. I won't do it again.
You have the reasoning age of a 10 year old and I won't be replying to you again. Bye.
was it you doing the economics course?? keep studying son you'll get there one day...
Except the above was your third post claiming to be itk about the takeover. That is you backtracking.it wasn't your stance from the beginning. Your comments were very different at the beginning. This is you changing your story so it matched with what AB redhenry and others had said.
I've quoted your previous comments before and suddenly you had nothing to say. I won't do it again.
You have the reasoning age of a 10 year old and I won't be replying to you again. Bye.
was it you doing the economics course?? keep studying son you'll get there one day...
As a matter or fact I graduated with a first this year. Won more than one departmental prize for performance and contributing to the school. Have a good job on a graduate fast track programme in London and doing well. All this was achieved whilst going through significant family issues including my dad undergoing chemo during my exams.
Not that it's relevant to any part of this debate.
Comments
The reason someone might meet him halfway is that there are a limited number of London clubs likely to be available with a stadium suitable for PL football.
His problem is that if he doesn’t sell the debt keeps on climbing, because there will always be an operating loss in L1 or the Championship. There will be opportunities to offset that with player sales, as the 16-17 accounts will demonstrate, but it’s unworkable as a long-term business plan.
It’s true the club will be worth a bit more if the team is promoted, but this boost will soon be swallowed by new operating losses, while selling at the point of promotion requires a willing buyer at that time. And if the team misses out, you are suddenly further back than where you started.
FC Carl Zeiss Jena's Members Association had their AGM yesterday - the notes on FCC's OS are now posted on the FCC 2017/18 thread. May be some interesting comparisons to be made ....
I've quoted your previous comments before and suddenly you had nothing to say. I won't do it again.
You have the reasoning age of a 10 year old and I won't be replying to you again. Bye.
Not that it's relevant to any part of this debate.