Eddie Hitler
-
Posts
7828 -
Joined
-
Last visited
-
Days Won
6
Content Type
Profiles
Forums
Store
Events
Posts posted by Eddie Hitler
-
-
8 hours ago, wendyredredrobin said:
Depends upon the quality of the security.
And the likelihood of calling upon it; banks just want their interest and the loan repaid. They do not want to have to step in and seize security.
In a safe and regulated sector such as UK utilities or Housing Associations long term deals have been running in the 3.4 - 3.5% range recently (2% 20 yr rate plus 1.5% margin) but a football club wouldn't get this. I saw a Scottish housebuilder (big Private Equity buy out earlier this year) get a margin over 5% which, given short LIBOR is c. 0.5%, is about on a par with the assumed 6% for the Gas which suggests that it is a market rate and that the owners are neither ripping the club off nor doing it any favours.
-
1
-
-
12 minutes ago, RumRed said:
6% apparently, high in the current climate.
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.
-
1
-
-
4 hours ago, Tammys Scan said:
Have they put a single penny of their own money in? If they haven’t yet, I’d be surprised if they did when the financial situation of the club is worse.
They've put about £10m of their own money in but have secured it by a charge against the ground.
-
18 hours ago, Coombsy said:
Not looking good is it
first going to build at UWE with or with out Sainsbury money
pulled out
second going to build training ground
all on stop no money to fund it.and unable to pay for the fence
Third top stadium builders to up grade the mem
best they can do was a wooden frame, paint,and carpet clean,
upto to date sprinkler which don't work
now trying to off load
weal don't bother to attend games
can not under stand most of their fans still thinks he loves the club
D C would have left by now but no one came in for him
Ho well happy days
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!
-
1
-
-
1 hour ago, Silvio Dante said:
Without putting too fine a point on it, this "Disabled Enclosure" really shows up their owner for the charlatan he is.
Pretends to be loaded and want to develop the club, yet their less able fans have to shell out themselves on something a primary school would be embarrassed by.
If he had any shame, any good intentions, or any cash he'd see that and be so embarrassed he'd stump up the cash to provide a proper facility.
He won't - because he's not in it for the fans but the land grab. They won't question it, because if they did, they'd be "teds".
It sums up him, it sums up them. And I feel sorry for the genuine fans who want to question Wael but are shouted down.
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.
-
3
-
-
6 minutes ago, Kid in the Riot said:
Sorry, have only skimmed through the last few pages but is this genuine? Can't be, surely?
Terrifyingly: yes.
QuoteOur newly formed Disabled Supporters Association have been hard at work and are starting to make a difference.
Their secretary Zoe says, “Some of you may have seen the wheelchair shelters on Saturday. This is something that has been needed for a long time. Due to the visual lines of all supporters these shelters had to be roof only structures.
“BUT they will offer greater protection from the elements for all supporters using these areas than before. Bristol Rovers FC are working with the DSA to try and improve matchdays for everyone. Sometimes even a small basic change can make a big difference! As always let me know what you think especially if you are someone who uses these areas”.
https://bristolroverssc.co.uk/2017/08/30/our-dsa-have-been-busy/
-
27 minutes ago, Red_Nine said:
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.
-
2
-
6
-
-
47 minutes ago, Sergio Georgini said:
The "boob cricket" guy apparently. Obviously has a screw loose.
Well he is probably their most famous fan.
-
5 minutes ago, B block said:
The possibility of providing wet weather clothing to supporters not undercover when it rains
this is a joke right ? Surely
so let's get this right, rather than a new canvass roof they all get a free poncho,
you couldn't make it up
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."
-
1
-
-
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.
-
3
-
1
-
1 hour ago, Red34 said:
Wonder if the old directors are actually being paid from the club itself? Using the credit facility to pay for the takeover, in the way the Glazers loaded Man U up with debt?
And think Bert Tann or someone mentioned the Colony being registered to Dwane Colony Ltd - if Dwane Sports are already the owners of it I doubt they'll want to put a charge on it...
Think January will be very interesting - if they're selling Bodin "because he won't sign a new contract" (but in reality to cover the bills) and the Colony hasn't started to be built then maybe, finally, even their more deluded fans might think something is up.
I noticed the old planning permission for the Colony did include some conversion to residential property - do you think Hamer's Post interview where he mentions 30 acres repeatedly is to butter R*vers fans up?
"We're using half - only half honest! - for housing to get the investors on board. We're just starting the houses first because..."
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
-
43 minutes ago, Coombsy said:
4 why no investment from your own family
5 if we need ten thousand at home games how long until we run out of money
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.
-
1
-
1
-
-
3 hours ago, Red34 said:
To be fair I'd struggle to do his job.
Having to find something positive to say about them?!
"Umm, the Mem might make a nice supermarket? Not a posh one though, a Lidl or something..."
"Their owner has a very nice tracksuit although we're not sure why he's got one..."
And I'm out
True; it's like being the PR Man for Hannibal Lecter!
-
16 minutes ago, ZiderEyed said:
Whats wrong with his face? Looks like he's got Blight.
Ah, leave the guy alone they are great videos.
If there's an equivalent vlogger for us please direct me to their vids.
-
7
-
-
1 hour ago, richwwtk said:
does any of that mean anything?
1 hour ago, Bristol Rob said:-
1
-
-
The well overdue Confirmation Statement has finally been filed.
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.
-
6 minutes ago, Bristol Rob said:
Would imagine the rent would be a lot more than 300k.
Be amazed with a stadium in that state if maintenance wasn't close to half a million a year just to keep it ticking over.
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.
-
3 hours ago, bert tann said:
Talk in the corridor of power yesterday was of the Mem being discreetly put up for sale and the club President being not all there.
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.
-
3 hours ago, Big Red Rich said:
With the latter I am on a leadership programme in partnership with Barclays.
? 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.
Quote30/01/2017
Category: Industry News
“The opportunity to reach 16,000 students as a careers champion is really exciting,” says education adviser Sian Gresswell, after completing the first workshop in the new Careers and Employability Leadership Programme developed by education charity Teach First and LifeSkills created with Barclays.
The intensive 18-month programme is part of the just-launched Careers and Employability Initiative, a partnership between the two organisations that aims to deliver better careers education to pupils from low-income backgrounds.
Teachers and schools involved in the initiative will also receive regular training sessions to help them make links between the curriculum and the world of work, while careers and employability learning will become part of Teach First’s Leadership Development Programme for graduates.
The innovative programme is designed to address the gap in careers education – research cited by Teach First shows that disadvantaged pupils are three times more likely to be out of education, employment or training after school than their better-off peers.
https://www.vercida.com/uk/articles/barclays-careers-employability-leadership-programme
-
1 hour ago, Big Red Rich said:
Wow, he sounds like a guy on the up....... I smell BS if he's ended up at Ragbag Rovers.
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.
-
9 minutes ago, Norn Iron said:
Rather apt pun as Edwin's classic Northern Soul track is S.O.S.
Edwin's other famous sixties track was a reworking of the song War. He called it Gas. The first verse went. ..
GAS-Huh.
What are they good for?
Absolutely nothing. Say it again. .....
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!
-
8 minutes ago, In the Net said:
Might all be over by then, according to some. I personally think that father and elder brother have pulled the purse strings a lot tighter than Wael was anticipating, but who knows!
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.
Bristol R*vers dustbin thread
in Football Chat
Posted
He is struggling to get up to being a full blown halfwit. I am sometimes embarrassed by what some of our fans post on here but none of them come close to being the sewn on absolute belter that is Henbury Gas.
If I was running their forums I'd have banned him as showing their fans in a bad light; there is a line between loyalty and outright stupidity and he crossed it many years ago.