Mandaric on way???

[Melton Fox]

Wouldnt it be like winning the lottery but not paying off your credit cards?

If you only win enough to pay off your credit cards, you are better off investing it wisely, doubling your money, then paying off your credit cards.

If all you do is pay off your credit cards, you are debt free but with no vision and nowhere else to go

Paying off the credit cards is a short term fix

 

[Durham Fox]

I don't think so, the Teachers' Pension Fund are owed circa £16m, and I don't think they would settle for much less, as the hold a charge over the stadium and all our other assets ( including the players ). They hold all the cards in this instance.

If I was owed £16m by a company thats already gone bust once and had debt written off, I'd take a few mil less if they wanted to pay up early. At least that way I knew I was getting my money back.

 

[Real Sharapova]

I don't know the details of the agreement we have with Teachers. If it would be possible for another party to buy their interest out for £16m or whether the only people allowed to buy it are LCFC. Knowing the halfwits in charge at the time these decisions were made, I'd guess that Teachers ensured that they could do whatever they needed to, to protect their money.

Point taken, but at the time of Admin, Teachers' had us by the short & curlies, as without their agreement nothing could happen. I think it's a bit of a red herring anyway, because if ( and I think it is a huge if ) MM were to come in, it would be to buy the club. If he had the funds he could, if he wished, pay off the Teachers' debt as it is a debt of LCFC.

 

[Real Sharapova]

If I was owed £16m by a company thats already gone bust once and had debt written off, I'd take a few mil less if they wanted to pay up early. At least that way I knew I was getting my money back.

As they have a charge over all our assets, they would be first in line to be paid off out of whatever assets we had, and they would still have the stadium. I think it would be likely that a LCFC mark III would be formed that would want to use the stadium, which Teachers could rent/sell to the new owners. I still think they hold all the aces here. The might accept a small discount to get the thing out of the way, but I don't think it would be large.

 

[Melton Fox]

Teachers don't want to be paid. The interest is piling up on what we owe, they would be quite happy for MM to take over, show them a business plan of how we are to return to the Prem and then they will want the payments to restart.

If we go bankrupt, they haven't really lost anything other than a tenant

 

[Durham Fox]

Teachers don't want to be paid. The interest is piling up on what we owe, they would be quite happy for MM to take over, show them a business plan of how we are to return to the Prem and then they will want the payments to restart.

If we go bankrupt, they haven't really lost anything other than a tenant

Other than the £16m and rising we owe them?

 

[Melton Fox]

Other than the £16m and rising we owe them?

If we go bankrupt they keep the stadium, hence they won't lose 16 mill

 

[Lboro fox]

If we go bankrupt they keep the stadium, hence they won't lose 16 mill

If we go bankrupt the stadium isnt worth £16 million.

 

[Melton Fox]

If we go bankrupt the stadium isnt worth £16 million.

It might be if the Tigers were to take up residency or we were to start again somehow

 

[Chrysalis]

Teachers don't want to be paid. The interest is piling up on what we owe, they would be quite happy for MM to take over, show them a business plan of how we are to return to the Prem and then they will want the payments to restart.

If we go bankrupt, they haven't really lost anything other than a tenant

Correct, its like if you try and pay off a loan early, banks dont like it since they lose their profits from interest. we would probably be able to buy the stadium but there would be no discount and possibly even a early settlement fee.

 

[Lboro fox]

It might be if the Tigers were to take up residency or we were to start again somehow

Neithert would be willing to pay £16 million, tigers would pay a little over the development value of the ground the stadium is built on, not much more. £5 million at an uneducated guess.

 

[Melton Fox]

Neithert would be willing to pay £16 million, tigers would pay a little over the development value of the ground the stadium is built on, not much more. £5 million at an uneducated guess.

They won't have to pay £16 mill, they just pay a lease like we do

 

[Durham Fox]

They won't have to pay £16 mill, they just pay a lease like we do

We aren't paying a lease are we?

 

[Lboro fox]

They won't have to pay £16 mill, they just pay a lease like we do

In that case ie depends on the size of the payments, most likely the tiggers would be better off where they were, IMO teachers need the club to not go bust in order to get any return on ther investment.

 

[Durham Fox]

In that case ie depends on the size of the payments, most likely the tiggers would be better off where they were, IMO teachers need the club to not go bust in order to get any return on ther investment.

Exactly. Im sure they'd prefer to be out of this sorry mess.

 

[Real Sharapova]

We aren't paying a lease are we?

No, we have a lease purchase with Teachers, the problem is that at the moment the debt is slowly increasing, as we can't meet the full repayments.

 

[Lboro fox]

Exactly. Im sure they'd prefer to be out of this sorry mess.

Im sure thats the truth, Birse never build another stadium for a football club after ours i dont think!!

 

[Durham Fox]

No, we have a lease purchase with Teachers, the problem is that at the moment the debt is slowly increasing, as we can't meet the full repayments.

That was my understanding too.

 

[alex]

God I'm bored.

Come on MM, come and spend some cash.....

 

[Melton Fox]

Then in which case my argument makes no sense, I was under the impression that Teachers owned the stadium and we were the tenants.

In which case, my opinion will be re-evaluated