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New buyers put off by £20 million hole in accounts

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Gaz said:
what about the Times, they don’t report shite usually
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That’s what I was thinking. Craig Hope is just a journalistic equivalent of that Mag fanzine editor who used to post obsessively about SAFC.

He’s a deluded weirdo Mag who hates us more than he loves the Mags. Every story he writes about us has a negative agenda.

The Times however lends the story a lot more credibility and would explain why interested parties all walk away once they go through the books.

If it is true then Donald and Methven want to be seriously worried. They are both public figures and there’s plenty nutters amongst our support who would be severely pissed off if they have basically ruined the club for their own pure greed whilst simultaneously trying to play saviours.

If he thinks a bit abuse on Twitter was bad then he’s got a big shock coming.

That's if It is true of course.
 
Is the gist that they used parachute payments to pay for buying the club & now the club have written off the money that was owed to it by the owners?
 
beezer said:
Doesn’t this all go back to the statement they’d originally made that they’d given ES £40m?

Basically the club still owed £25m that American bank I can’t remember the name of so they’d agreed the club would pay it back from the parachute payments.

If they’d have said from the start the purchase price was £15m but the parachute payments will be used to clear the last of the club’s debt then this wouldn’t be such an issue.

They’ve consistently told half truths since day one which is coming back to bite them now.
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That last £25m should have been left in the club, but Ellis's pride wouldn't let him do that. Supporters might have grumbled, but they would have understood better if the parachute had been used to clear a debt that was still in the club's books.
 
beezer said:
Doesn’t this all go back to the statement they’d originally made that they’d given ES £40m?

Basically the club still owed £25m that American bank I can’t remember the name of so they’d agreed the club would pay it back from the parachute payments.

If they’d have said from the start the purchase price was £15m but the parachute payments will be used to clear the last of the club’s debt then this wouldn’t be such an issue.

They’ve consistently told half truths since day one which is coming back to bite them now.
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That is exactly the way I see it Beezer. I kept replaying the podcast when they were explaining how it was done and said to a few people it was as clear as mud.
 
Grumpy Old Man said:
Let's wait for the accounts. The Mail's interpretation of the use of the parachute was proven to be bollocks. They could be right this time. When the accounts are out, I'll comment in full. I'm not going to set up a lynch mob on the back of a Mail article. If it turns out to be true. then it's legal, arguable from one standpoint, and morally reprehensible from another. I'm perceived as biased; the reality is I attempt to see and balance all sides of an argument.
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If it was just the mail I would be inclined to agree with that standpoint, but the fact the Times are also reporting, and quoting figures to 3 d.p. suggests that they have actually seen something. Waiting another 3 months won't change the facts. In saying this I do however understand your unwillingness to comment due to the fact that you have always tried to present only the facts that are shown in the official figures.
 
Always thought Craig hope was a mag until I read some reports on the guy the f***ing mags hate the **** think he is a mackem as he prints such shite on them seems to be someone you can't trust hopefully he has started something he can back up because if not he might end up in court shortly
 
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