Bbc

[Steven]

But the fact remains that all the debt will be secured on the club - if his plans do not work out here comes administration again, the lenders will want their money back somehow. I suppose I could support Hinckley Town once LCFC has been consigned to the dustbin of history.

I presume this can only mean MM lending the Club the money?

 

[bocadillo]

But it would be secured on the assets of the club, so the situation is no different to what pertains now, the name of the lender has changed, that's all. An extra £15 million hasn't suddenly appeared in the coffers of the club.

I'm not suggesting that it has - and neither is MM.

I think you are trying to split hairs. The fact is that the responsibility for the debt on the ground will pass from the present shareholders to MM - and therefore the amount is part of the deal. MM will be taking over £x of assets and the responsibility for £y of debt whilst making £z available for immediate spending, where x + y + z = 25,000,000. Therefore the total deal is in the figure of £25M.

 

[Durham Fox]

I'm not suggesting that it has - and neither is MM.

I think you are trying to split hairs. The fact is that the responsibility for the debt on the ground will pass from the present shareholders to MM - and therefore the amount is part of the deal. MM will be taking over £x of assets and the responsibility for £y of debt whilst making £z available for immediate spending, where x + y + z = 25,000,000. Therefore the total deal is in the figure of £25M.

thats how I see it too.

 

[Real Sharapova]

I'm not suggesting that it has - and neither is MM.

I think you are trying to split hairs. The fact is that the responsibility for the debt on the ground will pass from the present shareholders to MM - and therefore the amount is part of the deal. MM will be taking over £x of assets and the responsibility for £y of debt whilst making £z available for immediate spending, where x + y + z = 25,000,000. Therefore the total deal is in the figure of £25M.

But x is positive and y is negative, cancelling each other out. The amount he is bringing to the party is z, and that ain't £25 million.

 

[Dour]

If the Teacher's debt has to be repaid, the most likely scenario is that he'll just put a new loan in its place. Maybe with Singer and Friedlander, who he mortgaged Pompey to.
Thus, net investment relating to the stadium - nil.

 

[bocadillo]

But x is positive and y is negative, cancelling each other out. The amount he is bringing to the party is z, and that ain't £25 million.

As you say, £z is the amount that he is bringing to the party. It is not the total deal. If the total deal was that he was bringing £z to the party, that would leave the present board in control - they would fairly rapidy fritter the £z away and we would be back in the same position.

I now realise that I was wrong when I wrote that £x + £y + £z was the total deal. I had excluded the most important part of the total deal and that is that we will have MM, a proven success at Portsmouth, at the helm instead of the present bunch.

 

[Real Sharapova]

As you say, £z is the amount that he is bringing to the party. It is not the total deal. If the total deal was that he was bringing £z to the party, that would leave the present board in control - they would fairly rapidy fritter the £z away and we would be back in the same position.

I now realise that I was wrong when I wrote that £x + £y + £z was the total deal. I had excluded the most important part of the total deal and that is that we will have MM, a proven success at Portsmouth, at the helm instead of the present bunch.

Or you could say MM got lucky after a few years of non-success at Portsmouth. Will lightening strike twice?

 

[Feriol]

I'm not suggesting that it has - and neither is MM.

I think you are trying to split hairs. The fact is that the responsibility for the debt on the ground will pass from the present shareholders to MM - and therefore the amount is part of the deal. MM will be taking over £x of assets and the responsibility for £y of debt whilst making £z available for immediate spending, where x + y + z = 25,000,000. Therefore the total deal is in the figure of £25M.

so would you say that the current shareholders bought the club for a combined £21 million pounds?

 

[bocadillo]

so would you say that the current shareholders bought the club for a combined £21 million pounds?

Clearly not because that was not the purchase price. But it would certainly be one of the figures that would need to be included if somebody was trying to work out the total value of the deal that allowed the club to come out of administration.

Nor am I saying that MM is wanting to purchase the club for £25M.

 

[Feriol]

the problem with the media articles, is that they give that impression, by refering to a £25million takeover deal, it does suggest that this is MMs input into the club, and not his responsabilities if he succeeds. its only his responsability 'after' the takeover so the takeover isn't costing £25mil.

for those of us better informed we can see the figure for what it is, but many people have been misled.

i think its also relevent that the FT stated that the indicative offers made no mention of, or any commitment to the stadium, the £25mil figure suggests that he is commiting to it. if the debt remains the clubs, then its not his personal money (or even money he is providing through loans etc) that is paying for the stadium

 

[The Voice From Above]

 

[SilverFox]

Don't know if you can answer but are the board currently considering these revised terms (i.e. today this very day), or is there a board meeting scheduled for this in the near future?

I guess the trust couldn't answer my question then.

It isn't about anything to do with the deal I just want to know what is actually happening. Is it even being considered or are the board sitting around scratching themselves?

Anyone?

 

[PFKAKTF FOX]

I guess the trust couldn't answer my question then.

It isn't about anything to do with the deal I just want to know what is actually happening. Is it even being considered or are the board sitting around scratching themselves?

Anyone?

I am going for a dump, it had better be sorted by the time I get back :icon_bigg

 

[SilverFox]

I am going for a dump, it had better be sorted by the time I get back :icon_bigg

For that to happen it would have to be an extremely long dump.

Possibly several flushes involved.

 

[highland fox]

I am going for a dump, it had better be sorted by the time I get back :icon_bigg

I can't leave here incase somethings happens,did it in my trousers about 1.15pm have to clean it up soon

 

[PFKAKTF FOX]

I can't leave here incase somethings happens,did it in my trousers about 1.15pm on the 16th November have to clean it up soon

This takeover shit needs clearing up fast :icon_lol:

 

[stevewalshwasgod]

Yeah we are all in the same boat

 

[highland fox]

Yeah we are all in the same boat

And its drifting up Shitcreek without a paddle

 

[stevewalshwasgod]

I wonder who will report the takeover bid success/failure (delete as needed) news first? RL? The Mockery? Sky Sports?, BBC.co.uk/sport?

 

[highland fox]

I wonder who will report the takeover bid success/failure (delete as needed) news first? RL? The Mockery? Sky Sports?, BBC.co.uk/sport?

You can have 50/1 it will be the OS