New buyers put off by £20 million hole in accounts

[Flea Market Trader]

I need to see the accounts. Clearly, they've been leaked to the Mail by whoever. Until I can see chapter and verse, I can't comment.

I’m confused. You always give an opinion on money matters and I’m presuming you never saw those accounts either. What’s different this time. Let me guess you’ve been caught out as knowing nothing.

 

[riffraff]

They bought for 10m. Any money invested or loaned has not created value so it has no reason to find it's way to the value. The clubs worth appears to be what was paid, not what it would take to find SD a profit.

Absolutely spot on......assuming we’ve not bottomed out yet.

 

[sksk3021]

I think that's why ffp have put themselves into such a good position, he either sells for over 30 mill or he will eventually run it of money and he'll have to pass it over to them.

Not sure, I can’t see what we would have spent £11m on this season. We are probably in a decent financial position at the moment relative to a lot of other clubs.
No idea what the terms of the loan are either.

 

[riffraff]

Is it just me who cannot get his head around finances?

This isn’t finances. There’s a pretty accurate drug dealers motor analogy upthread.

 

[Grumpy Old Man]

I’m confused. You always give an opinion on money matters and I’m presuming you never saw those accounts either. What’s different this time. Let me guess you’ve been caught out as knowing nothing.

I'm giving opinions on here. But I can't comment on what may or may not be in the accounts without seeing them. so, you're right on one level. In relation to the allegations in the Mail and Times, I do know nothing, because the accounts haven't been leaked to me. Save your hate for someone else.

 

[Lewberry pie]

Not sure, I can’t see what we would have spent £11m on this season. We are probably in a decent financial position at the moment relative to a lot of other clubs.
No idea what the terms of the loan are either.

We probably are in terms of outgoing Vs income but that is about to drop massively next season even if the season starts next year, from FPP point of view it's like being given a completely free 30-1 shot that's more like a 4-1 bet in real terms, not bad work of you can get it lol.

 

[Flea Market Trader]

Can't say anything till I've got something to look at. As you say, bad crack, but not illegal. The argument will undoubtedly be that it was club money used to pay a club debt (technically true). Just goes to show the mess you get in if you bollix up the structure of a deal through assumptions that don't work. The club will be more worried about who's leaked the accounts.

But but but you always had something to say before without seeing any documents did you not.

 

[chunkyshanhawk53]

I still don’t understand how it benefits them to move it off the balance sheet, whilst still owning that asset

it’s left pocket right pocket surely

 

[Grumpy Old Man]

Not sure, I can’t see what we would have spent £11m on this season. We are probably in a decent financial position at the moment relative to a lot of other clubs.
No idea what the terms of the loan are either.

£9m of that is the FPP loan coming in via increasing the share capital. As for what's been spent on what, that won't be known until this time next year, when the 19/20 accounts are published. I suspect that they've had more problems than anticipated getting the wage bill down.

 

[sir rowell cummins]

I'm giving opinions on here. But I can't comment on what may or may not be in the accounts without seeing them. so, you're right on one level. In relation to the allegations in the Mail and Times, I do know nothing, because the accounts haven't been leaked to me. Save your hate for someone else.

I’ve just come to this thread. I got pissed at the top of a hill in the sunshine yesterday. Not really sure what’s going on. Could you sum up the thread and what’s happening in a rational factual way? I trust you to do it.

 

[riffraff]

Is it just me who cannot get his head around finances?

This isn’t finances. There’s a pretty accurate drug dealers motor analogy upthread.

[QUOTE="Ericsgate, post: 31647383, member: 42657"

In the end the government will have to intervene as more than 50% of football clubs are not sustainable in a post Covid world of lower gates and less TV money tricking down the pyramid.

Why should the government get involved? If and when the world gets back to anything near normality, there are going to be a lot more deserving businesses than football clubs, many of which have been badly run for decades (That sadly must be the one league we would be top of.)
[/QUOTE]
No one should want the govt involved unless it’s in preventing planning permission on club training grounds and stadiums. Let the devil take the hindmost then once the dust settles let’s see fan owned Phoenix clubs make our national sport a thing beauty and decency instead of the revolting shark infested chess pool it is.

 

[MADBOB THE MAKEM]

Well @MADBOB THE MAKEM what spin can they put on this one then?

1st off its not £20 million its about £15 million bad enough but I did point that out last week. do not believe all these mag journos put out.
SD has agreed to cover it whats the problem stop being a bunch of wet farts. its their business it does not affect the ongoing investment.
They new guys knew about the deficit so just chill ffs

 

[Grumpy Old Man]

But but but you always had something to say before without seeing any documents did you not.

Frequently, when talking in general terms. But for something like this, I need to see precisely what is said. The woeful misrepresentation of the original deal by the Mail doesn't make me regard them as entirely credible as interpreters of accounts.

 

[sksk3021]

We probably are in terms of outgoing Vs income but that is about to drop massively next season even if the season starts next year, from FPP point of view it's like being given a completely free 30-1 shot that's more like a 4-1 bet in real terms, not bad work of you can get it lol.

They are probably in an even better position now, can’t imagine this shutdown is going to make it easier to repay them.

 

[The Jarra Wanderer]

Is it just me who cannot get his head around finances?

Incredible really, you’ve certainly got the resources to do it.

 

[stevo]

This isn’t finances. There’s a pretty accurate drug dealers motor analogy upthread.

Why should the government get involved? If and when the world gets back to anything near normality, there are going to be a lot more deserving businesses than football clubs, many of which have been badly run for decades (That sadly must be the one league we would be top of.)

No one should want the govt involved unless it’s in preventing planning permission on club training grounds and stadiums. Let the devil take the hindmost then once the dust settles let’s see fan owned Phoenix clubs make our national sport a thing beauty and decency instead of the revolting shark infested chess pool it is.
[/QUOTE]
100 per cent spot on ,i will back us to rise quicker than almost any other club.

 

[richest]

1st off its not £20 million its about £15 million bad enough but I did point that out last week. do not believe all these mag journos put out.
SD has agreed to cover it whats the problem stop being a bunch of wet farts. its their business it does not affect the ongoing investment.
They new guys knew about the deficit so just chill ffs

Ok so what happens next and when Bob?

 

[dennis longhorn]

1st off its not £20 million its about £15 million bad enough but I did point that out last week. do not believe all these mag journos put out.
SD has agreed to cover it whats the problem stop being a bunch of wet farts. its their business it does not affect the ongoing investment.
They new guys knew about the deficit so just chill ffs

Stop all this bullshit about mag journos it’s nonsense from you to try and deflect blame from the 2 fuckwits

 

[sksk3021]

£9m of that is the FPP loan coming in via increasing the share capital. As for what's been spent on what, that won't be known until this time next year, when the 19/20 accounts are published. I suspect that they've had more problems than anticipated getting the wage bill down.

But we should have the parachute payments for this year aren’t they about £15m? That should at least double our revenue. I know it’s one off but should leave us in a pretty strong position.

 

[Clean Bristow]

Incredible really, you’ve certainly got the resources to do it.

Hiya handsome