Looks like SBC have been paid off

[janey]

As I understand it was talking about loss per year not debt Janey, just means that the debt is not growing as fast as it was

Yeah I understand that now. Maths and money was never my strong point

 

[SPUFF]

Yeah I understand that now. Maths and money was never my strong point

Generally the case with women.

 

[janey]

Generally the case with women.

 

[Roker Mackem]

I have no idea what this means but it seems canny

 

[GBSAFC]

michael martins spreadsheet says NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

 

[PTR]

Nice to see a plan coming together.

 

[Wansbeck Viking]

Thoughts are with Michael Martin at this difficult for him.

 

[jaxaxe]

Spare a thought for the 'True Faith' editor this morning. His reason for living has now gone

Expect to see him swinging from the Tyne Bridge with a Sports Direct carrier over his heed.

 

[janey]

I hope someone is on Michael Martin Twitter account watch

 

[Secret Visage]

I hope someone is on Michael Martin Twitter account watch

Doubt his wife will be.

 

[janey]

Doubt his wife will be.

 

[mart]

Does that mean he’ll stop posting on here?

 

[safcman73]

Just been on a Twitter there’s feed saying describe your team without mentioning the name. That martin fellow said Ashley out I replied to him with the statement at the start of this thread. Childish I know but couldn’t help it

 

[Hot Since 82]

4 x Satisfaction of charge documents filed today on SAFC Limited also. The only outstanding debt is the charge with Drumaville Limited created on 22 May this year.

 

[The Hesford Diet]

With this payment to him, I'd imagine @ShieldsBlackCat2015 has now become Britain's most eligible bachelor.

 

[steve30000]

very good news...As long as no other charges have been raise by Ellis & Co

Ok then, they haven't, we're still in massive debt

 

[young2077]

Not to steal GOM's role here (kind of am, sorry) but when Donald referred to getting it down to £5m he meant the club's deficit rather than its debt. Essentially, he means the club should now only lose £5m per annum from its operations rather than heftier figures earlier (not sure where the £35m if from mind, seems high).

Should be said that he confirmed that figure is the budgeted loss when we ignore parachute payments. In reality the club might well turn a profit this year. Donald was just pointing out that if they keep losses to £5m p/a, he can fund them for a wee while

Didn't it get mentioned in that footy business magazine interview, I think it was Methven not Donald, that the club was happy they broke even or made a small profit last year but they were counting the parachute payment?

He went on to say they won't count it in figures as it gives a false reading as it will stop soon and we have to prepare for that?

Great way to be looking at it in my opinion.

 

[rowley2]

Didn't it get mentioned in that footy business magazine interview, I think it was Methven not Donald, that the club was happy they broke even or made a small profit last year but they were counting the parachute payment?

He went on to say they won't count it in figures as it gives a false reading as it will stop soon and we have to prepare for that?

Great way to be looking at it in my opinion.

GOM covered this a bit ago I think . We have to be stable without parachute payments asap. They'll stop in eighteen months or so. If that's what they are up to then you can't argue with it. It's the only way to build again.

 

[Deleted member 6458]

Daft question, with a seemingly obvious answer, but if we lose £5million does that turn into debt? Or is it somehow accounted for elsewhere in the business? Or does SD just whack £5m from his personal account into the clubs coffers?

 

[molthemackem]

Ok then, they haven't, we're still in massive debt

The removal of any third party charge, fuxed or floating over a company is seen as good news to most businessmen.