The Takeover Thread - Duchatelet Finally Sells (Jan 2020)
Comments
-
Fucksake. What a bunch of wankers.24
-
Off_it said:Fucksake. What a bunch of wankers.1
-
Airman Brown said:Scoham said:PriceOfFootball mentioned the first £8m counts towards FFP.
I’m not quite clear what he means by that - that £8m can he used to offset the FFP loss but the other £13.5m doesn’t? - but as for covering previous years:
5.4 Any amounts claimed to be included within Contributions from Equity Participants and / or Related Party(ies) must have been invested during the relevant Reporting Period or by 1 December immediately following the end of that relevant Reporting Period.
I am not really sure how ffp actually works in terms of rolling 3 years but didn't we sell Lookman 3 years ago next month? I know it can't be a rolling 36 month figure, as the information isn't avaliable, but could be a consideration?0 -
Off_it said:Fucksake. What a bunch of wankers.8
-
i_b_b_o_r_g said:Off_it said:Fucksake. What a bunch of wankers.0
-
When Roland sold STTV to the Japanese (which as has already been said was just the club, not the ground) he did so in 2 parts some months apart. Presumably the Buyers needed time to liquidate some assets before completing the purchase.
IF we have a similar situation here, would the business of the shares issue facilitate such a scenario?
(Genuine question - I know nothing about business finance)
1 -
Airman Brown said:WishIdStayedinthePub said:Airman Brown said:WishIdStayedinthePub said:Scratchingvalleycat said:The last published accounts show debts of £71m which were not due to be repaid within one year. This event could merely be Roland capitalising some of the debt, ahead of sale into shares. When the change of control happens a form PSC02 will need to be filed to show who is the new controller of the shares (currently the confirmation statement identifies Roland D as the ultimate controller even though the shares are held by Baton 10 Limited which in turn is owned by ..... Staprix which is in turn s controlled by RD) The reasons for capitalising the debt may be many such as the loss made int he current year against . However, East Street Inestments is still only showing one director and issued capital of £1. All of this will change when the EFL stop mucking around and pull their finger out.
That wouldn't change the price of the club, just the structure of the balance sheet. I don't think it changes stamp duty either, as that would be payable on the total price, including the value of the land?
This would potentially give the football company headroom on FFP rules under Rule 4.2.2, settlement of liabilities by a Related Party. These would be treated under the allowable equity contribution rules and then have to be less than the rules allow and transferred 'at fair value'.
https://www.efl.com/-more/governance/efl-rules--regulations/appendix-5---financial-fair-play-regulations/
Appendix F, specifically says:
2.2 Contributions from a Related Party include:2.2.1 capital contributions being a contribution by a Related Party that is an unconditional gift made to the Championship Club by a Related Party which increases the Championship Club’s equity without any obligation for repayment or to do anything in consideration for receiving them. This is an increase in equity and typically, such amounts are recorded in a separate reserve, often known as the ‘capital reserve’. For example, a permanent and unconditional waiver of inter-company or Related Party debt must be treated as a capital contribution, as it results in an increase in equity;
As far as I know, any historical losses have been funded only by loans from RD and are currently running under the FFP rules rate of investment? The three year rule still seems to apply for any 'member club', i.e. on a rolling average over the last three years, regardless that we are a promoted club, in which case GBP 21m should be within those limits.
As stated by many on there, the only person that can put equity in right now is RD and he wouldn't put that money at risk ('unconditional gift ... which increases equity') unless he was certain he was about to back it straight out to a new owner ....
There are people who are accountants on here (though I do work in the private equity industry) and understand the EFL rules in more detail, so apologies if I have the wrong end of the stick on this and happy to be corrected ....
If the sale then collapsed it isn’t as if he has committed any new funds and he is still in control of the price at which he offers Baton for sale.0 -
How can the EFL have doubts of billions?.0
-
Also he don't own any other clubs.0
- Sponsored links:
-
7.7m views1
-
Reliance on a balance sheet for proof of funds is very intangiable and is only a snapshot of a business at a given point in time. A statement of funds by the purchasers banker is again as at a certain date. Placing the funds in a solicitors Client's account to be held in escrow might do the trick.2
-
If this doesn't go through then we will have to sign a load of cast offs unless we can net a bargain or two.0
-
Henry Irving said:7.7m views0
-
E_cafc said:If this doesn't go through then we will have to sign a load of cast offs unless we can net a bargain or two.3
-
Cling to the hope that Nimer, as successful as he is, and who is trusted with other's fortunes, has done his homework and wouldn't have started this unless he was sure it was all above board and achievable. Add to that MS, who should know EFL inside out, even though it would have been from an agents perspective in the past?1
-
moutuakilla said:E_cafc said:If this doesn't go through then we will have to sign a load of cast offs unless we can net a bargain or two.0
-
Rate my skate
6 - Sponsored links:
-
Valley27000 said:How can the EFL have doubts of billions?.0
-
5 -
moutuakilla said:E_cafc said:If this doesn't go through then we will have to sign a load of cast offs unless we can net a bargain or two.1
-
moutuakilla said:E_cafc said:If this doesn't go through then we will have to sign a load of cast offs unless we can net a bargain or two.
Everybody swears they have seen it, know someone that has seen it or seen a photo of it. Yet there is no physical evidence that exists.1 -
Tahnoon ON Tour
Fishing with his mate Bowyer 🎣👍🏻#UpTheAddicks2 -
charltonbob said:moutuakilla said:E_cafc said:If this doesn't go through then we will have to sign a load of cast offs unless we can net a bargain or two.4
-
ElfsborgAddick said:charltonbob said:moutuakilla said:E_cafc said:If this doesn't go through then we will have to sign a load of cast offs unless we can net a bargain or two.1
-
Solidgone said:ElfsborgAddick said:charltonbob said:moutuakilla said:E_cafc said:If this doesn't go through then we will have to sign a load of cast offs unless we can net a bargain or two.4
-
Johnnysummers5 said:Rate my skate4
-
Stig said:Johnnysummers5 said:Rate my skate8