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New buyers put off by £20 million hole in accounts

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Grumpy Old Man said:
£15m for the shares (reduced to £12.7m after the Ndong move to Watford fell through), plus £25m of the parachute used to repay the last £25m of the SBC loan, which Short had moved into Drumaville to make the club look debt free.
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So, in your opinion, would that make an asking price of £40 million entirely unreasonable? £25 million profit for where they have our club seems pretty poor value to me.
 
gavrocks said:
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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the times reporters will be joining him then
 
PS said:
So, essentially they are attempting to convert the parachute payments into profit, then bugger off with that cash?
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Incorrect. These are all intergroup balance sheet movements, and shouldn't go near the P&L account of either company. The whole thing will also disappear on consolidation of the group accounts.
 
they're a bit slow aren't they? it's what was discussed on this thread at the end of april

safc companies house latest

jjst popped up now...the confirmation statement..could mean owt or nowt..ive no idea.. but its new info..@grumpy old man? You must be logged on to see this
www.readytogo.net www.readytogo.net
 
If it's all t
Ashley In!! said:
He won't. He's said he's taking a back seat and appointed a new CEO who likely won't be versed in what's happened.
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If it's all true surely someone from the club will try to explain it, they won't just let it lie out there and say nothing.
 
Grumpy Old Man said:
£15m for the shares (reduced to £12.7m after the Ndong move to Watford fell through), plus £25m of the parachute used to repay the last £25m of the SBC loan, which Short had moved into Drumaville to make the club look debt free.
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We’re not debt free are we?
 
Good that this sort of thing is finally coming out. Hopefully they’ll get slated in the press as much as other owners do for less.
 
Grumpy Old Man said:
Incorrect. These are all intergroup balance sheet movements, and shouldn't go near the P&L account of either company. The whole thing will also disappear on consolidation of the group accounts.
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So the writing off of the loan won't affect the football clubs reported profit? Where will it disappear to then? What does it mean when they are saying its written off in the football club?
 
A delayed reaction is better than none at all. I wondered why no one was up in arms when methvan said they were under no obligation to pay it back last.

Although I was told by someone that it would have to be incorporated into the sale.
 
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