Rich Posted November 1, 2017 Report Share Posted November 1, 2017 2 minutes ago, Eddie Hitler said: I don't think they're listed so it won't be disclosed anywhere. Hmmm, they could conceivably be further down the line then. Income from ST sales helped (£1,5m?). So linked to a reduced playing budget just about tides them over, less running costs. Admin any day soon. 1 Quote Link to comment Share on other sites More sharing options...
Ska Junkie Posted November 2, 2017 Report Share Posted November 2, 2017 Crikey, that's the first time I have seen proof of the £10M charge against the Mem. They really are in deep sh1t aren't they? 2 Quote Link to comment Share on other sites More sharing options...
wendyredredrobin Posted November 2, 2017 Report Share Posted November 2, 2017 Looks like insolvency is looming. Automatic relegation and 10 points deduction. Players will depart in a fire sale (not that there is much value there). The only other asset, i.e. the Mem will have to be sold to pay the debts and the club will be reborn as BRFC 2018 Ltd and have to find another ground to squat on and try to steal. 1 4 Quote Link to comment Share on other sites More sharing options...
glynriley Posted November 2, 2017 Report Share Posted November 2, 2017 The Few, summed up in one sentence, by one of their own...... " Would you spend your own money on something you could get someone else to pay for? " http://gaschat.co.uk/thread/11001/retaining-faith-regime?page=3 1 5 Quote Link to comment Share on other sites More sharing options...
Ska Junkie Posted November 2, 2017 Report Share Posted November 2, 2017 So, if there's naff all equity left in the Mem due to the proven £10M charge, the fake sheik is gonna have to stump up the price of any new development / stadium plus the £10M? He's risked absolutely £0.00 thus far so I can't see him suddenly finding £50M down the back of the couch. Why would their fans expect him to suddenly start risking his own money now when he hasn't spent anything yet that he isn't guaranteed to get back? They really are in a dark place aren't they? Ah well, I shan't be losing any sleep over it. 1 Quote Link to comment Share on other sites More sharing options...
Monkeh Posted November 2, 2017 Report Share Posted November 2, 2017 18 minutes ago, Ska Junkie said: So, if there's naff all equity left in the Mem due to the proven £10M charge, the fake sheik is gonna have to stump up the price of any new development / stadium plus the £10M? He's risked absolutely £0.00 thus far so I can't see him suddenly finding £50M down the back of the couch. Why would their fans expect him to suddenly start risking his own money now when he hasn't spent anything yet that he isn't guaranteed to get back? They really are in a dark place aren't they? Ah well, I shan't be losing any sleep over it. you are forgetting the 6% interest rate that they have on top of that 10 million, the club have to find 600k a year just to pay the interest, It's all designed for the club to go into receivership, so the ground can be brought for £1 and then can be used for housing while the gas are left homeless, Weal taking over has always been a land grab, when the shit hits the fan, two prime development locations can be grabbed well below market value and they are too thick to see it 4 1 Quote Link to comment Share on other sites More sharing options...
Natchfever Posted November 2, 2017 Report Share Posted November 2, 2017 33 minutes ago, glynriley said: The Few, summed up in one sentence, by one of their own...... " Would you spend your own money on something you could get someone else to pay for? " http://gaschat.co.uk/thread/11001/retaining-faith-regime?page=3 What a strange bunch they are. Apart from Fat Albert. 1 Quote Link to comment Share on other sites More sharing options...
Bristol Rob Posted November 2, 2017 Report Share Posted November 2, 2017 (edited) 14 minutes ago, Monkeh said: you are forgetting the 6% interest rate that they have on top of that 10 million, the club have to find 600k a year just to pay the interest, It's all designed for the club to go into receivership, so the ground can be brought for £1 and then can be used for housing while the gas are left homeless, Weal taking over has always been a land grab, when the shit hits the fan, two prime development locations can be grabbed well below market value and they are too thick to see it This is a key point they are overlooking. Wally is taking 600k a year out of the club (assuming the club are paying the interest) against a 10mil secured loan. So whilst Wally and co have provided a credit facility, they can - in theory - call the loan in, which the club can't afford so they could just take ownership of the Mem. So currently, 10mil in - secured against their only asset (valued at 11mil) 600k out - assuming the interest is being paid. Wally may have played a blinder. Own the club for a couple of years, take about a million out of it and getting some prime development land. Edited November 2, 2017 by Bristol Rob 2 Quote Link to comment Share on other sites More sharing options...
slartibartfast Posted November 2, 2017 Report Share Posted November 2, 2017 Have they gone bust yet ? Quote Link to comment Share on other sites More sharing options...
Monkeh Posted November 2, 2017 Report Share Posted November 2, 2017 8 minutes ago, Bristol Rob said: This is a key point they are overlooking. Wally is taking 600k a year out of the club (assuming the club are paying the interest) against a 10mil secured loan. So whilst Wally and co have provided a credit facility, they can - in theory - call the loan in, which the club can't afford so they could just take ownership of the Mem. So currently, 10mil in - secured against their only asset (valued at 11mil) 600k out - assuming the interest is being paid. Wally may have played a blinder. Own the club for a couple of years, take about a million out of it and getting some prime development land. bingo, they (the family) are investment bankers (so say) any investment banker wouldn't invest in a football club as its a well known loss making business unless you are at the very top of the game, Buy a small struggling conference club for peanuts (say 5 million) hire a stooge as a mouth piece "loan the club" 10 million, call in the loan, take ownership of the ground worth 20 million sell for housing, = profit Quote Link to comment Share on other sites More sharing options...
Super Posted November 2, 2017 Report Share Posted November 2, 2017 See they have Notts County in the cup Friday night M5 is going to be chaos. Quote Link to comment Share on other sites More sharing options...
Bristol Rob Posted November 2, 2017 Report Share Posted November 2, 2017 1 minute ago, Monkeh said: bingo, they (the family) are investment bankers (so say) any investment banker wouldn't invest in a football club as its a well known loss making business unless you are at the very top of the game, Buy a small struggling conference club for peanuts (say 5 million) hire a stooge as a mouth piece "loan the club" 10 million, call in the loan, take ownership of the ground worth 20 million sell for housing, = profit Zero risk, already getting a healthy return on loans and the option of either extending credit (albeit at risk) or sailing off In to the sunset with their money back. Quote Link to comment Share on other sites More sharing options...
Ska Junkie Posted November 2, 2017 Report Share Posted November 2, 2017 (edited) 46 minutes ago, Monkeh said: you are forgetting the 6% interest rate that they have on top of that 10 million, the club have to find 600k a year just to pay the interest, It's all designed for the club to go into receivership, so the ground can be brought for £1 and then can be used for housing while the gas are left homeless, Weal taking over has always been a land grab, when the shit hits the fan, two prime development locations can be grabbed well below market value and they are too thick to see it Crikey Monkeh, that's some claim, not that I doubt you at all as it makes sense. Essentially then, WAQ gets the land for nothing as he, himself has bankrupted the rovers using his own money and is charging them 6% for the privilege? All he's put in is secured against the asset (the land) so he loses absolutely nothing? In fact, he makes 6% interest PA and ends up owning the land? That's brilliant to be fair! Edited November 2, 2017 by Ska Junkie 2 Quote Link to comment Share on other sites More sharing options...
Bar BS3 Posted November 2, 2017 Report Share Posted November 2, 2017 35 minutes ago, Bristol Rob said: This is a key point they are overlooking. Wally is taking 600k a year out of the club (assuming the club are paying the interest) against a 10mil secured loan. So whilst Wally and co have provided a credit facility, they can - in theory - call the loan in, which the club can't afford so they could just take ownership of the Mem. So currently, 10mil in - secured against their only asset (valued at 11mil) 600k out - assuming the interest is being paid. Wally may have played a blinder. Own the club for a couple of years, take about a million out of it and getting some prime development land. Does anyone who watches Eastenders at the moment think there is something familiar about Max Branning and the company he’s “working” for, and good old Wally..?! 1 Quote Link to comment Share on other sites More sharing options...
Ska Junkie Posted November 2, 2017 Report Share Posted November 2, 2017 1 minute ago, Bar BS3 said: Does anyone who watches Eastenders at the moment think there is something familiar about Max Branning and the company he’s “working” for, and good old Wally..?! Isn't what's happening on there precisely what WAQ is doing? Quote Link to comment Share on other sites More sharing options...
Septic Peg Posted November 2, 2017 Report Share Posted November 2, 2017 48 minutes ago, Monkeh said: you are forgetting the 6% interest rate that they have on top of that 10 million, the club have to find 600k a year just to pay the interest, It's all designed for the club to go into receivership, so the ground can be brought for £1 and then can be used for housing while the gas are left homeless, Weal taking over has always been a land grab, when the shit hits the fan, two prime development locations can be grabbed well below market value and they are too thick to see it Going back to @bert tann's post about hoping SL can unite City and Rovers by buying out Wael... SL can't own two football clubs can he? It's against FA regulations. So Jon will have to step up. Jon, buy out the Rovers. Bring Marcus home and Ellis and Bodin to play with Matty. Wind up/flog everyone else. 3 Quote Link to comment Share on other sites More sharing options...
Bar BS3 Posted November 2, 2017 Report Share Posted November 2, 2017 1 minute ago, Ska Junkie said: Isn't what's happening on there precisely what WAQ is doing? That’s what I mean..! I bet there are sags watching Eastenders, mocking the residents of Albert Square for being so gullible and blind to what’s going on..! 1 Quote Link to comment Share on other sites More sharing options...
Monkeh Posted November 2, 2017 Report Share Posted November 2, 2017 4 minutes ago, Septic Peg said: Going back to @bert tann's post about hoping SL can unite City and Rovers by buying out Wael... SL can't own two football clubs can he? It's against FA regulations. So Jon will have to step up. Jon, buy out the Rovers. Bring Marcus home and Ellis and Bodin to play with Matty. Wind up/flog everyone else. Jon can't ether I'm pretty sure thats been tried in europe, I'll see if I can dig it up 1 Quote Link to comment Share on other sites More sharing options...
Bristol Rob Posted November 2, 2017 Report Share Posted November 2, 2017 13 minutes ago, Ska Junkie said: Crikey Monkeh, that's some claim, not that I doubt you at all as it makes sense. Essentially then, WAQ gets the land for nothing as he, himself has bankrupted the rovers using his own money and is charging them 6% for the privilege? All he's put in is secured against the asset (the land) so he loses absolutely nothing? In fact, he makes 6% interest PA and ends up owning the land? That's brilliant to be fair! Well, not nothing. They have underwritten the running costs and it's that money they could get back from the ground. 1 Quote Link to comment Share on other sites More sharing options...
pongo88 Posted November 2, 2017 Report Share Posted November 2, 2017 13 minutes ago, Ska Junkie said: Crikey Monkeh, that's some claim. Essentially then, WAQ gets the land for nothing as he, himself has bankrupted the rovers using his own money and is charging them 6% for the privilege? All he's put in is secured against the asset (the land) so he loses absolutely nothing? In fact, he makes 6% interest PA and ends up owning the land? That's brilliant to be fair! This is a very good, concise, summary. As time goes by more and more of the Rovers fans are beginning to realise this. Strange as it may seem, those that don’t accept the facts are acting perfectly normally. Many people don’t want to hear the truth because they don’t want their illusions destroyed. For example, I still believe in Father Christmas, even though many people tell me he doesn’t exist, as what is the point of believing he doesn’t exist? The potential of him being true outweighs the possibility of him being a hoax 1 1 Quote Link to comment Share on other sites More sharing options...
Ska Junkie Posted November 2, 2017 Report Share Posted November 2, 2017 3 minutes ago, Bristol Rob said: Well, not nothing. They have underwritten the running costs and it's that money they could get back from the ground. That's what I was implying Rob, the return on his outlay is guaranteed. Very clever. 1 Quote Link to comment Share on other sites More sharing options...
Septic Peg Posted November 2, 2017 Report Share Posted November 2, 2017 15 minutes ago, Monkeh said: Jon can't ether I'm pretty sure thats been tried in europe, I'll see if I can dig it up You're right Monkeh. https://www.inbrief.co.uk/football-law/dual-ownership-of-football-clubs/ Jon can't as he is a director of City. Pretty sure Mrs L isn't an owner/director though! Get the cheque book out Maggie! Quote Link to comment Share on other sites More sharing options...
JamesBCFC Posted November 2, 2017 Report Share Posted November 2, 2017 15 minutes ago, pongo88 said: This is a very good, concise, summary. As time goes by more and more of the Rovers fans are beginning to realise this. Strange as it may seem, those that don’t accept the facts are acting perfectly normally. Many people don’t want to hear the truth because they don’t want their illusions destroyed. For example, I still believe in Father Christmas, even though many people tell me he doesn’t exist, as what is the point of believing he doesn’t exist? The potential of him being true outweighs the possibility of him being a hoax Hang on, there are people who don't believe Father Christmas exists?! He was at The Mall last year FFS! 3 Quote Link to comment Share on other sites More sharing options...
Gert Mare Posted November 2, 2017 Report Share Posted November 2, 2017 1 hour ago, Monkeh said: you are forgetting the 6% interest rate that they have on top of that 10 million, the club have to find 600k a year just to pay the interest, It's all designed for the club to go into receivership, so the ground can be brought for £1 and then can be used for housing while the gas are left homeless, Weal taking over has always been a land grab, when the shit hits the fan, two prime development locations can be grabbed well below market value and they are too thick to see it Just imagine if this were actually true?! What an absolutely bunch of ruthless ***** that would make Wally & Co!! The destroyed Sags wouldn't be able to go all Tote End Aggro over it either because they would have all ****** off back to Jordan. Surely that would make the Al-Qadi family the greatest bunch of honorary Teds that ever lived?!! 1 8 Quote Link to comment Share on other sites More sharing options...
Ska Junkie Posted November 2, 2017 Report Share Posted November 2, 2017 5 minutes ago, JamesBCFC said: Hang on, there are people who don't believe Father Christmas exists?! He was at The Mall last year FFS! He was in Yahteh at the same time as well, damned impressive! Quote Link to comment Share on other sites More sharing options...
42nite Posted November 2, 2017 Author Report Share Posted November 2, 2017 (edited) SL wouldn't touch that lot lot with a barge pole. They're doing a good enough job of going bust themselves. No need for anyone Ted related to soil their hands. Edited November 2, 2017 by 42nite 1 Quote Link to comment Share on other sites More sharing options...
Peter O Hanraha-hanrahan Posted November 2, 2017 Report Share Posted November 2, 2017 Hello... 1 1 Quote Link to comment Share on other sites More sharing options...
Monkeh Posted November 2, 2017 Report Share Posted November 2, 2017 17 minutes ago, Peter O Hanraha-hanrahan said: Hello... that isn't me by the way 1 Quote Link to comment Share on other sites More sharing options...
Gert Mare Posted November 2, 2017 Report Share Posted November 2, 2017 5 minutes ago, Monkeh said: that isn't me by the way You have an evil twin.....Gas Monkeh 2 Quote Link to comment Share on other sites More sharing options...
Peter O Hanraha-hanrahan Posted November 2, 2017 Report Share Posted November 2, 2017 12 minutes ago, Monkeh said: that isn't me by the way I know mate....it’s Will Ferrell. 1 3 Quote Link to comment Share on other sites More sharing options...
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