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Tan selling Cardiff City


Spike

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What happened to Cardiff wan't funny. I love beating them and seeing them struggle when they do, but no football fans deserve to have a man like that take over their club. Not them, not Rovers, not Swindon, no one! The sooner he is out of English Football the better. 

Good job we're owned by a man who would never dream of dumping red on a traditionally blue kit of a club that is over 125 years old...

JMP_Bristol_Rugby_v_Wasps_RT0886.jpg

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6 hours ago, Welcome To The Jungle said:

What happened to Cardiff wan't funny. I love beating them and seeing them struggle when they do, but no football fans deserve to have a man like that take over their club. Not them, not Rovers, not Swindon, no one! The sooner he is out of English Football the better. 

Good job we're owned by a man who would never dream of dumping red on a traditionally blue kit of a club that is over 125 years old...

JMP_Bristol_Rugby_v_Wasps_RT0886.jpg

Isn't he involved with the New York franchise now tan which is why he's getting out.tbf to him he has left them in a better position than when he bought them with a prem stint in between as well 

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2 minutes ago, Keyardiv said:

I know some of you are interested in goings-on down Kaardiff so hot off the press:

https://www.cardiffcityfc.co.uk/news/2018/july/club-statement-06-07-18/

He's certainly changed his approach and in fairness admitted past mistakes.

 

 

I’m no accountant, but it doesn’t rest easy with me, all these clubs having debt turned into equity for one person.  What if he dies, his family might want the equity out pronto.  Didn’t something happen with one of the Scottish clubs, they were bank rolled up to the hilt by a rich fan, when he met his untimely demise, his family stopped any financial support to the club and  virtually destroyed it.  Name of the club eludes me at the moment.

There might be loads of money in football, but it’s concentrated in a small number of pockets, with no sign of any of it trickling down the pyramid.

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4 minutes ago, Keyardiv said:

I think the point is if he converts all his debt to equity he's not owed anything and demands can't be made for repayment. However his shares can be sold to a new investor which is inevitable I would think at some point. Prior to this the club was in huge debt to him and in theory he, or his family I guess, could demand repayment at any time which places the club at huge risk. 

Which in turn makes the club more attractive to sell as not burdened by a debt, funny he should do that just as they join the Premier League in turn becoming much more attractive to potential suitors. Funny the last time he did it was when he was looking to flog the club...

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19 minutes ago, Maesknoll Red said:

I’m no accountant, but it doesn’t rest easy with me, all these clubs having debt turned into equity for one person.  What if he dies, his family might want the equity out pronto.  Didn’t something happen with one of the Scottish clubs, they were bank rolled up to the hilt by a rich fan, when he met his untimely demise, his family stopped any financial support to the club and  virtually destroyed it.  Name of the club eludes me at the moment.

There might be loads of money in football, but it’s concentrated in a small number of pockets, with no sign of any of it trickling down the pyramid.

Gretna wasn't it MK? Bloke called Mileson I think. He put loads in IIRC. 

EDIT: Just checked, Brook Mileson. 

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25 minutes ago, Maesknoll Red said:

I’m no accountant, but it doesn’t rest easy with me, all these clubs having debt turned into equity for one person.  What if he dies, his family might want the equity out pronto.  Didn’t something happen with one of the Scottish clubs, they were bank rolled up to the hilt by a rich fan, when he met his untimely demise, his family stopped any financial support to the club and  virtually destroyed it.  Name of the club eludes me at the moment.

There might be loads of money in football, but it’s concentrated in a small number of pockets, with no sign of any of it trickling down the pyramid.

Gretna.

The owner got them from nowhere to the Scottish Premier League and, if I recall, to one of their Cup Finals, but he then fell ill (died?) and his family refused to continue their financial support causing the club to fold.

I see both Ska J and PF have already posted on this.

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17 minutes ago, Keyardiv said:

No problem with him flogging the club, particularly if it's on a stable footing. We'd had multiple winding-up orders at the time he invested so that would be huge step-forward in terms of the club's financial stability. 

Oh I agree, probably a very good and opportune time for Tan and Cardiff to part ways, and with the right buyer with fresh enthusiasm who knows where Cardiff could be in the next few years. Just pointing out that not sure this highlights a different approach - whilst he had the loan he had the security of the repayment of it or being a secured creditor, he hasn't given that up to be merely a shareholder gratuitously, in my opinion. 

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11 minutes ago, phantom said:

Isn't this exactly what SL is doing with us?

Yes, but it does appear his family are involved and would hopefully carry on his wishes and legacy, it’s those who don’t, like the Gretna example that give me cause for concern, I just think football and the money involved now is verging on the obscene, it is far removed from the game I grew up loving.

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2 hours ago, Maesknoll Red said:

Yes, but it does appear his family are involved and would hopefully carry on his wishes and legacy, it’s those who don’t, like the Gretna example that give me cause for concern, I just think football and the money involved now is verging on the obscene, it is far removed from the game I grew up loving.

None of that is worse for the club if the debt is turned into equity; in fact it is better.

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3 minutes ago, Leveller said:

None of that is worse for the club if the debt is turned into equity; in fact it is better.

Surely the equity is the ground and any other assets, without a ground and assets, a club isn’t going to survive, if someone bought Cardiff or City off the owner and then asset stripped, what would you be left with?

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2 minutes ago, Maesknoll Red said:

Surely the equity is the ground and any other assets, without a ground and assets, a club isn’t going to survive, if someone bought Cardiff or City off the owner and then asset stripped, what would you be left with?

Let’s say Lansdown is owed £10m cash in soft debt by BCFC; it’s still his money and he can demand it back, depending on the terms of the loan. So could his heirs if he died. By converting it into equity, he is technically giving it to the club. In practice of course, it is an asset of a club he already owns, so the practical effect is limited. However, he can only get the money back by selling the shares. And the same for his heirs. Technically it puts the club in a better position with a stronger balance sheet (more assets, fewer liabilities).

Equity is just the value of the club’s net assets, regardless of what they are, but the net assets are now bigger.  Of course the club in this case doesn’t own the stadium which is in another company.

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32 minutes ago, Maesknoll Red said:

Surely the equity is the ground and any other assets, without a ground and assets, a club isn’t going to survive, if someone bought Cardiff or City off the owner and then asset stripped, what would you be left with?

In our case the ground is held by a different company to the football club, I believe. This means if someone bought the club they wouldn't be able to sell/redevelop the ground (which would put a lot of them off)

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1 hour ago, ashton_fan said:

In our case the ground is held by a different company to the football club, I believe. This means if someone bought the club they wouldn't be able to sell/redevelop the ground (which would put a lot of them off)

I personally believe as well that, the way SL has structured Bristol Sport with everything tied up with everything else, it is very much designed to put any but the most serious potential buyers off as if anyone did, having to untangle it all would be a nightmare. That would put off any asset strippers IMO.

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