Eddie Hitler

That's a guess based upon interest paid over average debt but it's possible that there are other payments in there to past directors (Higgs & co) so the actual rate could be lower; we won't know until the next accounts are filed 31 March covering the year to 30 June this year. Even 5% would be high for a secured loan.

They've put about £10m of their own money in but have secured it by a charge against the ground.

Just to be careful it isn't the case that they are unable to pay for the fence; rather the invoice is in dispute which is a perfectly common situation. All the analyses of the accounts do not show the club as running out of money; rather running out of security so the owners would need to put in their own money without security to finish this season; and they do have plenty of that with the question being: do they want to risk it? Spreading rumours that a company can't pay its bills is dodgy legally and I also don't think this is actually the case; the family does have loadsamoney. Sorry for being a bit tedious but there's enough to laugh at that is absolutely genuine!

Spot on. If it (this, the closed pasty shack, no locks on the toilets, the ground fully mortgaged, the UWE stadium dead in the water) was happening at City we would be having the "Sack the Board" demos every week because we have a high level of expectation and recognise when we're being taken for fools. This means that several poor Boards have been forced out. Rovers fans for whatever reason never do this. They accept whatever rubbish they are given without complaint and bizzarely think that this makes them better fans. Well I would say that all fans get the Board they demand and deserve and from that flows the ground and the on the field success. I haven't seen any comment on the gas forums about this shameful disabled provision because as with everything else they will accept it. Sheep.

Terrifyingly: yes. https://bristolroverssc.co.uk/2017/08/30/our-dsa-have-been-busy/

What quality, what majesty, what architecture! As most people will naturally do I can only compare this to the Palace of Versailles in its sheer awesomeness.

Well he is probably their most famous fan.

The naivete of it all is lovely; I was looking for something like: "Whilst the toilets are being refurbished we'd appreciate it if all supporters could bring their own bucket."

I've also had a quick gander at where this 6% came from. Whilst it's not disclosed if you look at their interest payments y/e 30 June 2016 they are a whopping £435k. Simple average loan balance is £7.5m so that's 5.8% which is probably 6% given the crudeness of a simple average calculation. Bearing in mind that this was 15 months' ago it's not going to look any better now. 2015/16 loss was £2.9m but there are two big adjustments in this: Write off of capitalised costs £2.3m Interest waived on previous bonds shown as income £0.6m So the underlying loss is (2.9) + 2.3 - 0.6 = £1.2m or £0.8m before that big interest charge. With all the legal fees for the failed UWE you can push that underlying loss to at least £1.0m for y/e June 17 and add another £0.5m of interest. Loan balance is trickier as it's showing at £7.2m but with £1.4m of payments made on account that didn't exist in the prior year; some of which will translate into debt. Minimum loan at 30 June 2017 is 7.2 + 1.0 (loss 16/17) + 0.5 (interest) = £8.7m, porbably higher. This leaves at most £1.3m undrawn which is insufficient to meet the losses and interest for the current season (£1.6m); hence my pencilling in March as a backstop date when the Al Qs have either to sell the club, sell some of its assets (Bert suggested that the ground was up for sale) or actually put some of their own money at risk unsecured to complete the season. Interesting times.

A quick change of the memo and articles, flog off the playing side for a nominal sum, and bingo: Bristol Rovers Property Development Company Limited. In a nod to the company's origins in football they could name some of the streets after ex players and managers. Tillson Terrace Bradford Boulevard Dog Botherer's Drive Holloway's Hostel

4. Is the key one and the answer will come in March, if not before with current gates, when the loan facility secured against the ground will be fully drawn at which point they will need to put their own money at risk. Currently their only skin in the game is the amount they paid for the club. I'm not expecting the club to go "pop" in March; they can put a charge on the land for the training ground to take them through to the end of the season but a buyer then has to be found as you then have a club with zero net assets losing c. £1.3m a year and they would have to put their own money at risk to keep it going. And there seems to be big reluctance to do that.

True; it's like being the PR Man for Hannibal Lecter!

Ah, leave the guy alone they are great videos. If there's an equivalent vlogger for us please direct me to their vids.

The well overdue Confirmation Statement has finally been filed. https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/Z3nqe9uCAHif1N1mKquWZbjkhN2X00eGggciMRmgl0g/application-pdf?AWSAccessKeyId=ASIAJJ2MNVRDVZKDAG7A&Expires=1505223133&Signature=TvpxAV%2FH3CSSY%2FEC7z1qsmMhDmI%3D&x-amz-security-token=FQoDYXdzEOn%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaDKUcvn9ez%2FqabcuwiSK3A0lmEQBpRbGdthb%2FScTeNYaYxmnjF0BJqRpmWBAyJeWDVW557Umy6faOiZ5HjOEGLP6KXio0gH3Slsh33nPVhr4N2LpzWU%2Bu7ag6hxrkSpVo4FFIm9ptBHpdHYyxZ5vUBqnXXhsAiQ3FGkt0ZnZz2NW2MLGo2MSQVNxqzWdXPUIlr0wgPk0Vn2xmK02cZwDmrwLS6sVdFpLrDpv%2FmFTv7jIJBSpEUhYRdqFzj5nhIF1FVG6XyTqommuPBVct6gjjnZSzTdEDO1R9snyPJ0VHbkvqmxQFUPaMqfb2QV2%2BEHR%2BklRLL41zTMITP%2FGz9Ci%2FHG4RaTzcIS7h4p8QxuFakb8%2B3XJJXJLOsXMm4Tj2K9X5hLkUR05vXSH09p8Vlh2dFB6TLDyIGfcTalfUi4loPAqChcZMVqZA3zNVu9A4iApVVVeohCGJeOBoLrf3N5nUKzrO5wYuC9z1X4j6YZ7Y4khPWcAnnmPFCDtYeHDU4jzogsvsbDvPCmZ3QKwV8znhsT%2BvNGlSUh1Qq0A0XZWANzjtD7HRZ4VEqVBcBW%2F856gFy0hPWwxzkJ9dl62lORLAXLqtmsLrQ0Aoj6vezQU%3D It doesn't actually say anything so the previous shareholdings still stand as per the previous statement; Dwane Sports owns 7,572,120 of the main shres plus smaller numbers in the other classes. https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/HO6qMWfKBT6I_P09hDrnScn0TFL3aqzRmRHAmDSdQt4/application-pdf?AWSAccessKeyId=ASIAJ3ROJI6TVOY4C5SA&Expires=1505223209&Signature=yHs4ERus8v%2Bv9BX8Jip23meK%2BJI%3D&x-amz-security-token=FQoDYXdzEOv%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaDANxaI1R7FgqK8VcWCK3AyDJv4y1MUCQqy%2F9XcHYQIlUr%2F9McgZV%2B%2FDgBijbVHpY3mr2mL9%2FKGy4R3pjcw%2BBahNLO90ld6aUu7PeUDBN2gtp%2BShHH7s33NTqpmmeWXKZRYEN6S%2FkTLEcGxl4q1b9yuIvZt6Wkqje2JeYY%2Bcj%2BG4qvVI3s8S3BFtwozWJNqPXOYbwrRyuiKYqq3xY5sUIjDXmv3q6mJYWz0B5e4FFDlPZZeEuMwkhGaiTi8w%2B1LcgirPhCe9fILszU513gkQspXC7Pxh6Hb0pjR2XK6%2BxS1gMxjb6e9mIl5%2BiRrJQ2%2F3MvCBErONhXUOCxA9Huxml1RYnzA1qt24Uq%2FNPdH4Sf%2Ff1zUcNAFdHclcmAGOsV6kIVd59zWdLBl7ZiEd56q2La%2Bcj2JkuKwCmZabEZFL2L9%2FFCmzV3nIK%2FofFpf%2B3HtYJSzCBet%2B4KDy85jutZBw1YC36bEKq0z1J8zzWo1aj%2FpSb%2FhNMr15cEPOAJ%2BFwv9dVIZb6ljLKnU%2Bl91a5qxO1PVLuVmez71DW0KgzZokqF995HcjMLxXfT1OgYAtZ604gCxiH%2BpxwbG6qG612CD7FR6G9KPa1yg8o7%2BnezQU%3D

I was trying to be generous! It's easy to say that they've run out of money or imminently bust but neither is actually the case (nor, as I understand it, are they having trouble paying creditors). My previous calculations, which didn't assume that they sold the ground, suggested that they will have fully drawn down the loan by March so have no more available cash unless Wael puts some family money in without security. Hence my expectation of their being quietly offered for sale now and very loudly offered for sale from January. If they're going to merrily flog off the stadium and then the trading ground they are giving themselves two years breathing space but then have absolutely nothing left. I'm baffled; if I wanted to take over the Rovers and make them fold then this sort of asset stripping is exactly what I would do. Still just a rumour ATM; fortunately for them.

Sorry Bert - did you mean sell off the ground rather than the club? That's mad. Current position is: Ground valued at £11m Loan from Dwane Sports now c. £9m secured against it and accruing interest at 6% - so currently over half a million a year. Land for training ground c. £1m If the ground is sold for the £11m today then the loan is repaid. This leaves: £2m cash Land for training ground c. £1m The annual losses are running at c. £1.3m before interest and before paying any rent to play at the now sold ground (assuming they still can) so say ?£0.3m to rent it at a 3% return. After one year: £0.4m cash Land for training ground c. £1m Atfer two years: -£0.2m overdraft Training ground sold. Hmmm... this looks like a cracking plan

I can exclusively reveal the AI Qadis' long term.business strategy for the gas,:

There's a man who needs some media training! Look at the camera.

? This is the only one I could find; seems to be some basic "life skills" programme - i.e. dress smartly, speak clearly, and be confident. https://www.vercida.com/uk/articles/barclays-careers-employability-leadership-programme

Hard to tell from that but these corporate awards are a nonsense; they don't go out and assess everyone in the field. The way it works is you have to create a lengthy blurb selling yourself and then get your mates to send in a similar one recommending you which usually you will have written yourself. My field of work has similar awards but out of potentially hundreds of entries in each area they struggle to muster three or four and I know they're coming up because I get regular emails inviting me to enter. "Rising Stars" awards tend to have even less entries; thousands of possible candidates but most people in their twenties really can't be bothered.

Oh come on, from Higgs' watertight contract with Sainsbury's, last day relegation out of the league, richest man in the world with no money, and UWE collapsing they are the veritable gift that keeps giving!

That was my calculation too but I am a gurt ted. I reckon that based upon the annual operating loss (ignoring the £2m write off which was non-cash) the balance remaining undrawn on the RCF at the start of the season is insufficent to cover the costs for the full season by about £300k - £400k; meaning either the AQs have to put their own money at risk with an equity investment or unsecured loan or they need to find a buyer before the end of March.

Yes, June year end and last year published in March so six month wait to see that.

Should come in handy for them.