Reallity check time !!!

[Real Sharapova]

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

Their debt did not change between pre and post administration. They had us by the proverbial short and curlies as they had a charge over our assets.

 

[Real Sharapova]

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?

While we are in the Championship, I understand we have an agreement where we do not pay all the interest, so the debt at the moment is slowly increasing. I would guess that is where the talk of restructuring the debt comes from. to try and change that situation.

 

[Melton Fox]

While we are in the Championship, I understand we have an agreement where we do not pay all the interest, so the debt at the moment is slowly increasing. I would guess that is where the talk of restructuring the debt comes from. to try and change that situation.

OK, I now understand, thanks. And presumably the new payment Dunc referred too would have been so cheap that we could then afford to invest in the playing squad?

 

[Real Sharapova]

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.....

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

I wish my crystal ball was as rose tinted as yours........

 

[drew]

The only way to do that is by getting into more debt, less payments = more debt.

The board are clambering to find options so they don't have to accept MM's bid, that much is obvious.

 

[Real Sharapova]

OK, I now understand, thanks. And presumably the new payment Dunc referred too would have been so cheap that we could then afford to invest in the playing squad?

Hopefully.

 

[Melton Fox]

I do think Travelling Fox has came in for some harsh and possibly unjustified criticism here

 

[Travelling Fox]

I do think Travelling Fox has came in for some harsh and possibly unjustified criticism here

Thanks for that melton. All I am saying is lets not get carried away by all the MM spin and let the board do their job. I think that for the first time in donkeys years we have a bright future whoever takes over !!

 

[Boy Genius]

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

I wish my crystal ball was as rose tinted as yours........

Maybe its misted with all that alcohol you put away....:icon_bigg

 

[Real Sharapova]

Maybe its misted with all that alcohol you put away....:icon_bigg

Oh, come on BG, it's only just 11.00,,,,,,,,,,,oh, I see your point.

BTW, I'm retiring to Drummin's safe house, all this speculation is doing my blood pressure no good!

 

[Boy Genius]

Oh, come on BG, it's only just 11.00,,,,,,,,,,,oh, I see your point.

:icon_bigg :icon_bigg :icon_bigg :icon_bigg

 

[Steven]

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.

Travelling Fox has come in for some stick. :icon_bigg :icon_razz Too much perhaps.

Webbie was suggesting that TIAA had got the Freehold back.

If that is the case then MM should raise a loan to buy the Freehold (and only pay interest on it) and then say to the shareholders handover your shares for nothing or else you have no ground to play on.

 

[Real Sharapova]

Travelling Fox has come in for some stick. :icon_bigg :icon_razz Too much perhaps.

Webbie was suggesting that TIAA had got the Freehold back.

If that is the case then MM should raise a loan to buy the Freehold (and only pay interest on it) and then say to the shareholders handover your shares for nothing or else you have no ground to play on.

I believe that the freehold is in our name, there is just that bloody big mortgage on it.

 

[Jeff]

I believe that the freehold is in our name, there is just that bloody big mortgage on it.

How did that happen then?


At the time of administration we owed TIAA (Teachers) £28 million

Assets listed to go towards that debt were:
Cash held in charged accounts: £5.43 million
Walkers Stadium Freehold: £6.34 million

Leaving a balance of just over £16 million owed to TIAA.

I'm not an accountant so maybe I've misunderstood exactly what went on, but it looks to me that TIAA took ownership of the freehold in exchange for £6 million coming off the debt.

 

[Steven]

I believe that the freehold is in our name, there is just that bloody big mortgage on it.

I could be wrong, I am sometimes :icon_lol: :icon_lol: , but I thought we were under a Stadium Lease scheme which would imply we don't hold the Freehold.

 

[M17TT C]

At the end of the day, I don't think it matters that MM only wants to buy us to make money from us. As for him to do this, he would have to be successfull in getting us promoted to the Premiership, and then establish us there to make us look an attractive investment to someone bigger!
If he does manage to do this, I can't see too many people moaning that MM was only here to make money as IMO knowone will care about that as we will be back 'where we belong'.

 

[Macky]

At the end of the day, I don't think it matters that MM only wants to buy us to make money from us. As for him to do this, he would have to be successfull in getting us promoted to the Premiership, and then establish us there to make us look an attractive investment to someone bigger!
If he does manage to do this, I can't see too many people moaning that MM was only here to make money as IMO knowone will care about that as we will be back 'where we belong'.

I agree with all of that, but what if he is unsuccessful in getting us to the promised land? What then? How will he be getting his investment back?

 

[M17TT C]

Well that is why it is so important that the board carefully scrutinise (sp) his, and any other offers to ensure that if this worst cast scenario occurs, we will not be left well and truely F'ed in the A.
I have full confidence that whatever decision the board makes will be for the better of the club.

 

[Steven]

Well that is why it is so important that the board carefully scrutinise (sp) his, and any other offers to ensure that if this worst cast scenario occurs, we will not be left well and truely F'ed in the A.
I have full confidence that whatever decision the board makes will be for the better of the club.

Wish I could say the same. :icon_conf :icon_conf :icon_conf

 

[Melton Fox]

Wish I could say the same. :icon_conf :icon_conf :icon_conf

Likewise, but I can't believe somebody just did