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.
Starting to feel helpless , but what cam douchbag really be getting out of this bizarre situation. Surely there will have to come w point when he has to cut his losses.
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.
Logical argument, but I suspect they set up the consortium with a few simple rules, and former directors loans may be complications that break those rules. Just a guess though.
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.
Logical argument, but I suspect they set up the consortium with a few simple rules, and former directors loans may be complications that break those rules. Just a guess though.
Time they changed the rules then I would suggest.......either shit or get off the pot.
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.
Logical argument, but I suspect they set up the consortium with a few simple rules, and former directors loans may be complications that break those rules. Just a guess though.
Time they changed the rules then I would suggest.......either shit or get off the pot.
And you can tell that to GM !!
Golfie, you tell'em ........ you keyboard warrior!
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.
irrespective of whether it is debt that has to be paid now or in ten years time it’s still a debt that they will own and if they had agreed a figure with Roland that was debt free then why should they be responsible for it now just because the mad old bastard thought he could pay the debts off by offering 25% of their value and found out he couldn’t? Like James Seed I’d surmise that the investors were told it was clean title and that is what they expect for their investment. Not unreasonable in my opinion.
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.
Logical argument, but I suspect they set up the consortium with a few simple rules, and former directors loans may be complications that break those rules. Just a guess though.
Time they changed the rules then I would suggest.......either shit or get off the pot.
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.
They shouldn't have to find the £7m at all. It's not their debt, it belongs to Roland, he bought the club with it. If they want a clean title, it's their prerogative to insist the debentures are settled. None of us have the right to tell any prospective buyer what the parameters of their deal should be, it's not a red herring, like it or not, it's a legitimate reason for delaying a purchase. We all want a deal to go through, but it's not our money, and if Roland doesn't settle the debt, regardless whether the Aussies have to find the money now or later, it's £7m, it's not pocket change, and they clearly feel it's not their debt to pay off.
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.
Logical argument, but I suspect they set up the consortium with a few simple rules, and former directors loans may be complications that break those rules. Just a guess though.
Time they changed the rules then I would suggest.......either shit or get off the pot.
And you can tell that to GM !!
Yeah but somehow we always seem to get the wrong end of the stick, so I won’t bother.
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?
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.
Logical argument, but I suspect they set up the consortium with a few simple rules, and former directors loans may be complications that break those rules. Just a guess though.
Time they changed the rules then I would suggest.......either shit or get off the pot.
And you can tell that to GM !!
And if they changed the rules and some of the investors walked away then that would leave us where?
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.
They shouldn't have to find the £7m at all. It's not their debt, it belongs to Roland, he bought the club with it. If they want a clean title, it's their prerogative to insist the debentures are settled. None of us have the right to tell any prospective buyer what the parameters of their deal should be, it's not a red herring, like it or not, it's a legitimate reason for delaying a purchase. We all want a deal to go through, but it's not our money, and if Roland doesn't settle the debt, regardless whether the Aussies have to find the money now or later, it's £7m, it's not pocket change, and they clearly feel it's not their debt to pay off.
But it's not £7m
It's £7m sometime in the future, after a low probability series of events have happened. An actuary valuing this would give it a much smaller valuation, given the relatively small chance of it ever happening, and inflation eroding the "real" value of £7m.
If this is the reason the takeover has been delayed, then EVERYONE is losing, Roland, the Aussies, the ex directors, the fans. And all for what is a tiny sum of money in the bigger picture (when you consider the annual loss we make)
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.
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.
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.
Let’s say you were buying a house and agreed to pay 200k. Just before exchange of contracts you discovered that the owner owes a family member 50k and wants you to also pay that debt back. However you can do so any time in the next ten years, whenever it’s most convenient for you. Be happy with that would you?
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.
Logical argument, but I suspect they set up the consortium with a few simple rules, and former directors loans may be complications that break those rules. Just a guess though.
Time they changed the rules then I would suggest.......either shit or get off the pot.
And you can tell that to GM !!
And if they changed the rules and some of the investors walked away then that would leave us where?
No different to where we are currently I would say. Some investors have (apparently) already walked away......in so much as they failed the Fit & proper test & it doesn't appear that they are troubling the scorers in trying to sort it out.
Currently it appears to be a Mexican stand-off....and the only losers at the moment is us poor fans. We know RD doesn't give a toss. Looks like the Aussies aren't too far behind.
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.
Logical argument, but I suspect they set up the consortium with a few simple rules, and former directors loans may be complications that break those rules. Just a guess though.
Time they changed the rules then I would suggest.......either shit or get off the pot.
And you can tell that to GM !!
And if they changed the rules and some of the investors walked away then that would leave us where?
No different to where we are currently I would say. Some investors have (apparently) already walked away......in so much as they failed the Fit & proper test & it doesn't appear that they are troubling the scorers in trying to sort it out.
Currently it appears to be a Mexican stand-off....and the only losers at the moment is us poor fans. We know RD doesn't give a toss. Looks like the Aussies aren't too far behind.
I really don't know if you understand the world of finance but the assets are tied up when a debenture/charge/lien is given. That is to say permission has to be given by the debenture holders when such things as leases etc are granted.
Why would anybody buying the club want that restriction, regardless of when that debt becomes due for payment.
In any case my understanding is this is not the issue holding things up so a complete red herring in any case.
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.
Logical argument, but I suspect they set up the consortium with a few simple rules, and former directors loans may be complications that break those rules. Just a guess though.
Time they changed the rules then I would suggest.......either shit or get off the pot.
And you can tell that to GM !!
And if they changed the rules and some of the investors walked away then that would leave us where?
No different to where we are currently I would say. Some investors have (apparently) already walked away......in so much as they failed the Fit & proper test & it doesn't appear that they are troubling the scorers in trying to sort it out.
Currently it appears to be a Mexican stand-off....and the only losers at the moment is us poor fans. We know RD doesn't give a toss. Looks like the Aussies aren't too far behind.
I really don't know if you understand the world of finance but the assets are tied up when a debenture/charge/lien is given. That is to say permission has to be given by the debenture holders when such things as leases etc are granted.
Why would anybody buying the club want that restriction, regardless of when that debt becomes due for payment.
In any case my understanding is this is not the issue holding things up so a complete red herring in any case.
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.
Let’s say you were buying a house and agreed to pay 200k. Just before exchange of contracts you discovered that the owner owes a family member 50k and wants you to also pay that debt back. However you can do so any time in the next ten years, whenever it’s most convenient for you. Be happy with that would you?
If you were somehow guaranteed to get a massive injection of cash at the same time as having to pay that £50k, then yes I probably wouldn't mind too much.
Everyone so willing to spend future earnings . How much did it cost wolves to get to the prem and how much will it cost to stay in the prem ? Yeah you put all that money towards getting to the Prem and as well as the cost of it all and expenditure to stay there in player costs, salaries etc you get a £7m bonus to pay out . Seriously football finances are fucked it’s a miracle anyone is willing to risk spunking dough for no guarantees of making it. There are plenty of clubs who have failed and racked up the debt , plenty of clubs who have made it and racked up the debt , how many clubs are consistently running at a profit ?
And once again Golfie would you advise any of your clients to invest in a football club ??
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.
I’m surprised at this I must admit, if you were my finical advisor and gave me this advice I think I would walk away, why, simply because in my opinion you haven’t thought through the all the possible scenarios. I give you one example which I personally think is a possibility, what happens if the premiership money stops rolling in, then you are left with a seven million debt to be paid say in 20 years times with no additional income to cover it? Unlikely I not sure, but the longer the debt is rolled over the greater the chances are. Just my thoughts, but I would want all the debts resolved. I’m a business man, not a financial advisor, therefore if I were to be in a position to purchase Charlton it would be with own my money and I would it safeguarded as much as possible.
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.
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.
Logical argument, but I suspect they set up the consortium with a few simple rules, and former directors loans may be complications that break those rules. Just a guess though.
Time they changed the rules then I would suggest.......either shit or get off the pot.
And you can tell that to GM !!
And if they changed the rules and some of the investors walked away then that would leave us where?
No different to where we are currently I would say. Some investors have (apparently) already walked away......in so much as they failed the Fit & proper test & it doesn't appear that they are troubling the scorers in trying to sort it out.
Currently it appears to be a Mexican stand-off....and the only losers at the moment is us poor fans. We know RD doesn't give a toss. Looks like the Aussies aren't too far behind.
I really don't know if you understand the world of finance but the assets are tied up when a debenture/charge/lien is given. That is to say permission has to be given by the debenture holders when such things as leases etc are granted.
Why would anybody buying the club want that restriction, regardless of when that debt becomes due for payment.
In any case my understanding is this is not the issue holding things up so a complete red herring in any case.
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.
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.
I think we’ve known those details for some time, but it’s more a question of whether or not this issue is holding up the sale. I think it’s highly unlikely to be the only issue.
Comments
Not a good place to be if the deal's off, RD's still here next summer and we find ourselves in League Two.
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.
And you can tell that to GM !!
It's £7m sometime in the future, after a low probability series of events have happened. An actuary valuing this would give it a much smaller valuation, given the relatively small chance of it ever happening, and inflation eroding the "real" value of £7m.
If this is the reason the takeover has been delayed, then EVERYONE is losing, Roland, the Aussies, the ex directors, the fans. And all for what is a tiny sum of money in the bigger picture (when you consider the annual loss we make)
I don’t personally think they are the only issue.
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.
Currently it appears to be a Mexican stand-off....and the only losers at the moment is us poor fans. We know RD doesn't give a toss. Looks like the Aussies aren't too far behind.
Why would anybody buying the club want that restriction, regardless of when that debt becomes due for payment.
In any case my understanding is this is not the issue holding things up so a complete red herring in any case.
What is holding it up then?
How much did it cost wolves to get to the prem and how much will it cost to stay in the prem ?
Yeah you put all that money towards getting to the Prem and as well as the cost of it all and expenditure to stay there in player costs, salaries etc you get a £7m bonus to pay out .
Seriously football finances are fucked it’s a miracle anyone is willing to risk spunking dough for no guarantees of making it. There are plenty of clubs who have failed and racked up the debt , plenty of clubs who have made it and racked up the debt , how many clubs are consistently running at a profit ?
And once again Golfie would you advise any of your clients to invest in a football club ??