Reallity check time !!!

[Travelling Fox]

I am getting concerned about the way that lots of us seem to be slagging off the board at the moment concerning the takeover bids. Perhaps someone has the actual figures but I seem to remember that when we went into administration we were something like 50-60 Mill in debt. We are now around 15 mill (didn't the ground cost £36 mill?). So as you can see they haven't exactly sat on their butts and done nothing !! There are other offers on the table beside MM but these parties are not using interviews and "friends close to MM" to push their case. I heard someone on the moan in say that he thought that the other offers were made up. Isn't it illegal for a company to do that ???
Lets take a sensible look at MM. he say's he wants to buy us because "He respects us" or "He loves football". He has chosen us because 1. We have a great stadium. 2. We have good training facilities. 3. We have a good fan base. (He will need these to attract quality to the team, he couldn't do this at Pompey because their ground is akin to Anstey Nomads (No disrespect to Anstey Nomads). More importantly he gets all this for £6.5 Mill. BARGAIN !!!
and by using the press he gets the fans to lobby the board for him !!

Perhaps we should consider these points re MM.
1. If he was so in love with Pompey why after getting them into the prem didn't he redevelop the ground and move them further ?
2. He has had more clubs than Stevie Claridge. Why ?

Lets look at our position. We owe around £15 mill. He pumps in a few million to get a few players or if look at his record at Pompey he gets about 45 loanees in and gets us promoted. He (because he will be the owner) gets about £20 mill sky money per season spends enough to keep us there for 2 seasons (£40 mill sky money) pays off the ground and floggs us on with a nice big profit. Just like he did at Pompey (I think he got £35 mill there from the Russian guy and he spent nowhere near that.
I think that untill we know what is on the table from the others we should get off the back of the board and let them do what they have done for the past 3 years which is run the club well.
I am not saying that he is no good for the club but I am saying lets take off the Rose tinted specticals and take a serious look at what is available.

 

[Melton Fox]

when we went into administration we were something like 50-60 Mill in debt. We are now around 15 mill (didn't the ground cost £36 mill?). So as you can see they haven't exactly sat on their butts and done nothing

They didn't sort that, it was written off. You could argue that when the current board took over there was zero debt, now there is 15mill

 

[Travelling Fox]

What about the tax man etc ? they weren't written off surely

 

[Real Sharapova]

They didn't sort that, it was written off. You could argue that when the current board took over there was zero debt, now there is 15mill

Not quite, the football creditors had to be paid off in full, the Teacher's debt was the same as it always was, and the preferential creditors were paid x pence in the pound, as were the tax man and the Vat man. The board have done bloody well to run the club well in those circumstances.

 

[homer]

I am getting concerned about the way that lots of us seem to be slagging off the board at the moment concerning the takeover bids. Perhaps someone has the actual figures but I seem to remember that when we went into administration we were something like 50-60 Mill in debt. We are now around 15 mill (didn't the ground cost £36 mill?). So as you can see they haven't exactly sat on their butts and done nothing !! There are other offers on the table beside MM but these parties are not using interviews and "friends close to MM" to push their case. I heard someone on the moan in say that he thought that the other offers were made up. Isn't it illegal for a company to do that ???
Lets take a sensible look at MM. he say's he wants to buy us because "He respects us" or "He loves football". He has chosen us because 1. We have a great stadium. 2. We have good training facilities. 3. We have a good fan base. (He will need these to attract quality to the team, he couldn't do this at Pompey because their ground is akin to Anstey Nomads (No disrespect to Anstey Nomads). More importantly he gets all this for £6.5 Mill. BARGAIN !!!
and by using the press he gets the fans to lobby the board for him !!

Perhaps we should consider these points re MM.
1. If he was so in love with Pompey why after getting them into the prem didn't he redevelop the ground and move them further ?
2. He has had more clubs than Stevie Claridge. Why ?

Lets look at our position. We owe around £15 mill. He pumps in a few million to get a few players or if look at his record at Pompey he gets about 45 loanees in and gets us promoted. He (because he will be the owner) gets about £20 mill sky money per season spends enough to keep us there for 2 seasons (£40 mill sky money) pays off the ground and floggs us on with a nice big profit. Just like he did at Pompey (I think he got £35 mill there from the Russian guy and he spent nowhere near that.
I think that untill we know what is on the table from the others we should get off the back of the board and let them do what they have done for the past 3 years which is run the club well.
I am not saying that he is no good for the club but I am saying lets take off the Rose tinted specticals and take a serious look at what is available.

What on earth are you talking about ?

The debt was wiped out as part of the administration proceedings, with creditors being royally shafted and losing nearly all of their money

Unbelievable, some people :icon_roll

 

[Melton Fox]

What about the tax man etc ? they weren't written off surely

Who do we owe 15 mill to anway?, if it is for the stadium we don't owe that do we?. We are paying rent aren't we?

I don't fully understand the stadium situation, do we owe anything other than interest. As far as I'm aware (and I'm not saying I'm correct) is that we only owe 15mill if we wish to buy the ground

 

[Boy Genius]

I am getting concerned about the way that lots of us seem to be slagging off the board at the moment concerning the takeover bids. Perhaps someone has the actual figures but I seem to remember that when we went into administration we were something like 50-60 Mill in debt. We are now around 15 mill (didn't the ground cost £36 mill?). So as you can see they haven't exactly sat on their butts and done nothing !! There are other offers on the table beside MM but these parties are not using interviews and "friends close to MM" to push their case. I heard someone on the moan in say that he thought that the other offers were made up. Isn't it illegal for a company to do that ???
Lets take a sensible look at MM. he say's he wants to buy us because "He respects us" or "He loves football". He has chosen us because 1. We have a great stadium. 2. We have good training facilities. 3. We have a good fan base. (He will need these to attract quality to the team, he couldn't do this at Pompey because their ground is akin to Anstey Nomads (No disrespect to Anstey Nomads). More importantly he gets all this for £6.5 Mill. BARGAIN !!!
and by using the press he gets the fans to lobby the board for him !!

Perhaps we should consider these points re MM.
1. If he was so in love with Pompey why after getting them into the prem didn't he redevelop the ground and move them further ?
2. He has had more clubs than Stevie Claridge. Why ?

Lets look at our position. We owe around £15 mill. He pumps in a few million to get a few players or if look at his record at Pompey he gets about 45 loanees in and gets us promoted. He (because he will be the owner) gets about £20 mill sky money per season spends enough to keep us there for 2 seasons (£40 mill sky money) pays off the ground and floggs us on with a nice big profit. Just like he did at Pompey (I think he got £35 mill there from the Russian guy and he spent nowhere near that.
I think that untill we know what is on the table from the others we should get off the back of the board and let them do what they have done for the past 3 years which is run the club well.
I am not saying that he is no good for the club but I am saying lets take off the Rose tinted specticals and take a serious look at what is available.

worst post of the year award......................

If he sells us on and makes a profit so feckin what, it then means that another person /company / consortium has paid a stack of money for the club and would look to take us further.....

 

[Darth Vodka]

What about the tax man etc ? they weren't written off surely

do you have any concept of what going into administration is?

you wipe out all your depts and the company collapses

debtors are lined up and your assets are dished out to preferential creditors (Inland Revenue, Teachers bank) and last of are shareholders, who get nothing

 

[homer]

worst post of the year award......................

If he sells us on and makes a profit so feckin what, it then means that another person /company / consortium has paid a stack of money for the club and would look to take us further.....

Gets my vote, for sure

 

[Boy Genius]

Gets my vote, for sure

10 fecking posts and he is a runaway winner for a 2006 TB prize......

 

[Darth Vodka]

Gets my vote, for sure

seconded (bloody hell, agreeing with Homer)

a post about the figures involved in City with a) no knowledge of accountancy b) no knowledge of the actual numbers

 

[Travelling Fox]

f he sells us on and makes a profit so feckin what, it then means that another person /company / consortium has paid a stack of money for the club and would look to take us further.....

My point is why do we have to go for MM to do this ? and not one of the other bids.... perhaps they might not want to use us to make a quick buck. which is what I think the board is trying to do !!

 

[Real Sharapova]

What on earth are you talking about ?

The debt was wiped out as part of the administration proceedings, with creditors being royally shafted and losing nearly all of their money

Unbelievable, some people :icon_roll

What on earth are you talking about? The Teacher's debt was not written off, the football creditors were paid in full ( otherwise we would have lost our membership of the league ) and the preferential creditors ( tax/Vat ) accepted x pence in the pound.

 

[Polar Bear]

Is there really a Worst Post Of The Year award? With a trophy and everything? I w-a-a-a-a-a-a-a-a-a-a-n-t it...

 

[Boy Genius]

My point is why do we have to go for MM to do this ? and not one of the other bids.... perhaps they might not want to use us to make a quick buck. which is what I think the board is trying to do !!

What fecking other bids???...............

 

[Real Sharapova]

Who do we owe 15 mill to anway?, if it is for the stadium we don't owe that do we?. We are paying rent aren't we?

I don't fully understand the stadium situation, do we owe anything other than interest. As far as I'm aware (and I'm not saying I'm correct) is that we only owe 15mill if we wish to buy the ground

We own the ground, always have done, with a mortgage with Teacher's. As ther mortgage was secured on our assets, we had to honour their debt in full when we came out of administration.

 

[Darth Vodka]

What on earth are you talking about? The Teacher's debt was not written off, the football creditors were paid in full ( otherwise we would have lost our membership of the league ) and the preferential creditors ( tax/Vat ) accepted x pence in the pound.

well, Teachers got the ground that they financed us for. so we didn't really pay them what they hoped to get in the first place

warning: your stadium is at risk if you do not keep up the with the repayments

 

[Melton Fox]

We own the ground, always have done, with a mortgage with Teacher's. As ther mortgage was secured on our assets, we had to honour their debt in full when we came out of administration.

So the money we owe is in pretty much the same scenario of me and my mortgage?

If so, what is the current state of play?, am I still paying my mortgage normally, or has the lender given me some sort of payment package?

 

[Real Sharapova]

do you have any concept of what going into administration is?

you wipe out all your depts and the company collapses

debtors are lined up and your assets are dished out to preferential creditors (Inland Revenue, Teachers bank) and last of are shareholders, who get nothing

Not quite, I you are describing liquidation there, which would have left us with no club. Administration involves persuading preferential creditors ( Vat/tax ) being persuaded to accept x pence in the pound of their debts being paid by the new entity.

 

[EMC Fox]

warning: your stadium is at risk if you do not keep up the with the repayments

Yes, but it's ours if we do, Just like your house (if you have one) is yours if you keep paying the mortgage.