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How would the fans feel


chunksafc said:
Harsh but fair :lol:

I do wonder if assets can be moved around between the UK based companies and the Caymen Islands company that could then mean a charge notice wouldn't need filing.

I don't know if that would be possible / legal though
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The filing requirements relate to assets charged, not to whom the loan is. That'll why there was a charge over the club's assets when Madrox took the loan from FPP, Also why there was a charge on the Hilton when Short moved thel last £25m of the SBC loan into Drumaville.
 
Grumpy Old Man said:
The filing requirements relate to assets charged, not to whom the loan is. That'll why there was a charge over the club's assets when Madrox took the loan from FPP, Also why there was a charge on the Hilton when Short moved thel last £25m of the SBC loan into Drumaville.
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But could the club assets be moved into the owners off shore accounts and not be held by held by the UK based companies, thus avoiding the need to file on companies house?
 
chunksafc said:
But could the club assets be moved into the owners off shore accounts and not be held by held by the UK based companies, thus avoiding the need to file on companies house?
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They could, but that would get very messy, and potentially result in EFL penalties (see Wednesday and Derby). It's only usually done by a common ownership company buying the ground at an arms length valuation as a means of creating profit in the football club to get round FFP. The EFL would crawl all over it.

It the context of what is actually a very small loan in relation to the club's asset values, it would make no sense at all.
 
Grumpy Old Man said:
They could, but that would get very messy, and potentially result in EFL penalties (see Wednesday and Derby). It's only usually done by a common ownership company buying the ground at an arms length valuation as a means of creating profit in the football club to get round FFP. The EFL would crawl all over it.

It the context of what is actually a very small loan in relation to the club's asset values, it would make no sense at all.
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Theoretically possible though and nothing on companies house? But would show in the accounts as a sale / transfer of assets?
 
HarrogateMackem said:
No, he is. By all accounts he inherited 2.5 billion. But that doesn't mean he has it in liquid assets though. It's almost all invested in property, business etc. Getting money in the short term to spend might be quite difficult.
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This could be as simple as covering cash flow requirements. At this stage of the season clubs' bank balances are at their lowest because there's not a huge amount of money coming in until renewal time. However, the outgoings tend to be the same every month, so come March/April, the cash flow is decidedly out.
 
chunksafc said:
Theoretically possible though and nothing on companies house? But would show in the accounts as a sale / transfer of assets?
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Yes, but if it happened now and this year's accounts are signed off, there's no disclosure till this time next year. Ti be honest, the amount of hassle this would create makes it utterly insane in the context of a loan of 10% of the value of the SoL.
 
AyeAyeAye said:
Drumaville?, but they sold to Short. Anyway in essence the Short covered the debt one way or another. Do you believe KLD has the same intention (if it is true) when he sells?
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No, Short didn’t cover all the debt, he effectively left £25m
CaptainRed said:
Sad fact is that if you throw money at this football club it ends up down a black hole and gone forever. We managed to turn Eliis Short from a Billionaire into a Millionaire and that was with PL money.

KLD clearly doesn't want to throw any more money at us, which is his right of course, his money his choice etc, but in that case he should be looking to sell.
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To who?
rubberface said:
...like whe KLD lied about his original % share??? Do what you like mate.👍
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He didn’t lie, he said he had a majority stake, which he did given he was the largest holder.
 
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Mnemonic said:
Why? What are the other options?

Not pay the bills?

Remember he is unlikely to have spare cash, his wealth will be assets.
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What? You mean he doesn’t have a room in his house like Scrooge McDuck where he can go swimming in his riches?
 
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