Eddie Hitler

11 minutes ago, glynriley said:

Looks like that threads been pulled. Don't like hearing that everything's not rosy, do em??

It's been merged with a similar one into this one:

http://gaschat.co.uk/thread/10985/mem-bod-etc-merged

3 minutes ago, Rich said:

Perhaps I didn't write that correctly, I was saying that they, being BRFC, stole the team initially.

I got that; I was reacting to the outrageous lie by Wael.

4 minutes ago, Rich said:

Didn't BCFC have a ladies team that became the Bristol academy, which then became the Gas academy, which then went full circle and back to Bristol City Ladies?

I think they stole the team, changed it's name, and Bristol sport provided the funding for it to survive and changed the name back.

The team has no financial value; women's football loses great multiples of its turnover and if there was a FFP for women's football it would all close down tomorrow.

So I don't see how SL cna be accused of "stealing" it when what he has actually done is put his hand in his pocket to allow it to continue.  You may as well say that every four years a city "steals" The Commonwealth Games because hosting them costs a fortune.

5 minutes ago, Port Said Red said:

My wife deals with a lot of businesses at a company secretarial level, she feels that the 6% is more of a notional figure rather than an actual cash sum. It's the sort of thing that might be recouped at a later sale. So they would be looking for a potential buyer to pay them £10m + the accrued interest.

None of its being physically paid back to DS; it's adding to the debt.  But as the debt is only secured up to £10m then even notional interest exhausts that £10m.  My estimate for the £10m RCF on the Mem being fully drawn is about March 2018.  At that point they either fund it with unsecured money, sell the Mem and take their £10m back, or put the club up for sale for £10m and the debt cancelled and get their money back that way.

If they are as nice as we keep hearing then it will be the first of those.  But we shall see.

21 minutes ago, In the Net said:

I just wondered where the 6% interest rate has been published?  The last set of available accounts cover some of the period of the Wonga loan, so surely the actual interest on Wael loans won't be clarified until the next set of accounts?

On the other hand, I might be talking out of my arse, as I'm not a qualified accountant! 

It hasn't been but I repeated the calculation that Swiss must have made on the accounts and the simple average of interest paid / 0.5 x (opening debt + closing debt) gave about 5.8% IIRC Post so far upthread I'm not going to even try to find it).

The key assumptions within that calculation are that:

• All figures relate to the same debt to Dwane Sports (it's possible chunks of it relate to debts to others like ex-directors)
• That a simple average like that is broadly reflective of the average debt for the year. 

There isn't enough information to prove it but it looks about the right level for that sort of lending on a commercial basis.

2 hours ago, JamesBCFC said:

"I thought that United Kingdom would be the best place. The footballing culture there is well established, their market is efficient, the laws and regulations there protect the investor so it was a matter of finding what club was the most suitable."

Interesting wording for him to use.

Very good spot James.

That's the nail on the head, because if the laws and regulations protect the investor then what are they not protecting?

Answers on a blue and white postcard to Dwane Sports.

10 minutes ago, Rich said:

I could have sworn that it was calculated that they paid £7m to Higgs and co, plus the loan of £2m. It was rumoured that Higgs wanted/needed his £5m to bugger off to Italy, leaving £2m for the remaining shareholders. Perhaps not marked up as borrowings, more capital investment, you know, plastic chairs and canopy's. How can you find out how much was paid for the shares, HMRC?

I don't think they're listed so it won't be disclosed anywhere.

18 minutes ago, nebristolred said:

I'm certainly intrigued by all of this discussion revolving around potential administration for Rovers, but isn't it all hearsay? People speak about this £10m loan taken against the Mem as if it's common knowledge, but could it not just be an overblown rumour?

There is a charge registered at Companies' House against the Mem for a £10m RCF:

https://beta.companieshouse.gov.uk/company/04501223/charges/wSc2Sf8fS_sfvZmboWRkEEkZX6Q

At 30 June 2016 (more than a year ago) group borrowings were £7.2m

https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/5zgFEDry-e6ctLGgnWxLvDKC_6oka-HSL67f4HwQpg0/application-pdf?AWSAccessKeyId=ASIAJE2RTOLY732Y3BOQ&Expires=1509573891&Signature=zbCkXdmQIGVCsxWSaS034pUlBsI%3D&x-amz-security-token=FQoDYXdzEPb%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaDOv9nhIoLFs1bLUUjCK3A0qElcL%2B9l3cDBSoM0XnbUFKMzT1fGfHgBof3O561vomMEAOXHiIBzOIBCvQ8NwvQWu30EJAk9s65sydJftubuU3A8ah69fmAiok927m9Ey86fYW9FGC4DbdVHKbQsv4ETneDlq88BfRO2sb5sXX8b%2BeujirE6xEu2ABMih8MFjuvl255b%2F7MkkcA9leN3vxmSi1YjcUi8uf0Wyya%2FUWPLWDlnoE6ZDP9LYsYRNUHN25m5BGM5Koz9KMV9R18yi6aPFgEOyCxTumgVzZUJZAxXUATA5IyaC3vjhNGotfwjDHXjdm%2FkebkxdDoNd%2BqJ9CHUVNKKsvjpFayvOio5Qg7REUB0oEN5UoP6g58bz0PzMQJVHO7C%2Bv8rJpEKF1cu%2B9TzizcdU60F234OJrsXTZW6rbwtuSmJHw4SVN89JHnxtulKjEkOhAV6CTcyxsoPY%2BeZaEeopLkVlSO5PTiA%2FwBs4wBi7EU%2BFKsdPLxTuN8PBpho%2Bac4m%2FobQCcje6gbav9FZsFtKZ84FQ%2FpJFcelwMIlHZIapw%2Bjuyh%2FIRjmZcC%2BESAzTTbbcdgow7L9CiEKeyKmxX4T%2FyPcoyO%2FozwU%3D

If no money has been put in and losses are running at £1.5m a year (they are) then that loan fcaility is exhausted sometime early 2018.

9 minutes ago, 22A said:

Our "friend" Henbury Gas has posted: "Yes i have ultimate faith in the current owner only because they are our only option at the moment. Until a better option comes along (if Ever) then what else can we be and..............You can now get Hot Dogs at the mem, what more could you want "!

They have some insightful posters on the gas boards (Bamber, Swiss, Peter Parker to name several) who must cringe every time Henbury Gas with his room temperature IQ manages to poke out another stream of idiocy to reinforce every stereotyping of a gashead seen here.  We've got some borderlines but compared to Henbury they are practically renaissance men.

5 hours ago, WTFiGO!?! said:

The things you learn 

I've laughed but whilst I may know the difference between screenshot and photoshop I can't actually do either so you are up on me!

2 hours ago, BS15_RED said:

I could of explained my opinion better, I’ve no problem with our Welsh supporters, however I would not want a Welsh City flag as there’s nothing Welsh about our club! The same way no Cardiff or Swansea fan would want a St George’s cross associated with their club.

Gotcha, have a "like".

15 hours ago, BS15_RED said:

Welsh sag flags too, I know that some of our fans are welsh, but I’d be pissed to see a City welsh flag!

You are entitled to your opinion but I like that we have a small percentage of Welsh fans crossing the Severn to watch games.

Remember that during Bristol's big expansion as a city the population inflow came roughly 50:50 from the Somerset lowlands and the South Wales lowlands.

There is a lot of Welsh ancestry in Bristol if you go back far enough.

Edit: I'm not Welsh btw, despite the sidebar.

1 hour ago, Sergio Georgini said:

Haven't been on the page for a while. Do Bristol Rovers football club still exist?

They still exist but are no longer coming to get us from the commanding vantage point of their shiny new UWE stadium.

Wael is buying them some new white plastic chairs and some Pacamacs for when the canvas roof leaks and the more cerebrally challenged amongst their fans are slavering away at this incredible largesse as evidence of how they were right about him being the club's saviour all along.

6 hours ago, RedLionLad said:

Poor kid, even when you're thirty your birthday can still be spoilt by an unwanted gift.

I'm welling up 

14 minutes ago, Bristol Rob said:

He is now claiming it relates to something on the local news.

Curious.

Which, even if true and that's not just the voices in his head he's hearing, is just saying that SL had an offshore bank account; big deal, so did my father.

Just now, BS15_RED said:

I see our old friend Henbury Gas is saying that SL has a very large tax bill to pay! Has this cretin not learned his lesson about making up stories and posting them on the internet? I’m sure that pre Hargreaves-Lansdown that SL was a chartered accountant? So the chances of him making a mistake of that magnitude is surely complete nonsense.

http://gaschat.co.uk/thread/10456/mem-bristol-city-council?page=7

I won't repeat that libellous statment by Idiot Prime Henbury Gas but it would be sweet to see SL take him to court for it; that is not the sort of thing you can get away with as "banter".

People have been very careful on here not to say that the gas are bust and unable to pay creditors as that would affect their capacity to trade and is anyway not the case.

So what price a successful businessman's reputation when he is accused of illegality?

16 minutes ago, slartibartfast said:

You always come on here saying that their finances ain't that dire ! What's the matter with you ?

 

 

Sorry about that!

I think the club finances are pretty dire if that helps, they're losing c.£1.5m a year (including £0.5m interest payments back to the owner) and are going to hit zero net assets sometime between now and March.

With zero net assets the value of the club is just the future income stream from their loyal fanbase net of the running costs of the club.  So negative £1m a year "income" stream which I won't even bother to discount.

23 hours ago, Bristol Rob said:

https://bristolroverssc.co.uk/2017/10/05/agm-financial-report-of-brsc/

Have their supporters club really lost 19k in the last year.

No.  If you add back the non-cash items of depreciation and impairment you have a £26k profit last year and a £3k profit this year; they're writing something off (?clubhouse, stock of "We are staying up 2015" t-shirts?)) to create a loss; looks like they know what they're doing (now!).  It all looks vvery healthy but they had better hope that that £138k of cash doesn't attract another "over-eager" volunteer. 

1 hour ago, Major Isewater said:

Fantastic result result for any team to achieve 6-0 and away from home .

 I want to show how big we can be by acknowledging the fact .

We know there will be many more days to laugh at the Blue Few but today they deserve credit. 

 

Yes, great result for them. Well done.

25 minutes ago, Tomarse said:

Yet another game with a red card against them. Someone should do the stats I’m sure they must have highest count against them in the country 

Plymouth has five so far this season.

2 hours ago, Johnr1986 said:

I do but feel a Little sorry naming him as surly he must now know what a complete nob he looks! 

Yes, he does.

"Ooooh, would you look at the hooves on that!"

4 minutes ago, GrahamC said:

A local club for local people would sum up many of their fans, especially that weirdo Watkins and the loser who films match reports alongside his Dad.

Weird *******, aren't they?

Not being particularly anti-gas I prefer the term "special".

15 minutes ago, RedRaw said:

 

 

 

Yes, there are plenty of those arguments on other threads. This is a thread for laughing at the gas's progress into a full blown situation comedy;  not for pontificating.