Reply With QuoteWTAF??!!Originally Posted by Retired Arab
First Team
Hall Of Fame
WTAF??!!
Hall Of Fame
Two points
1 The money that is loaned against Gussie at present will likely be paid off from this 1m.
2 Has to be concern that MM is not confident enough in the business's ability to repay him that he is not loaning either unsecured or secured against GA.
That's a worry.
Further, MM is spending a lot of money at present. Buying JM's shares and now buying Gussie. United will now (as Dundee FC did with Dens) lose an asset to secure debt against in future and must now pay a rent to a landlord for its ongoing commercial activities
Therefore, this 1 million MUST be the key to turning the Dundee United Football Company Ltd into, at least, a break-even enterprise.
If it doesn't we will probably see Tannadice go this way next.
Bottom line is that a company that sells off it's assets to rent them back is not in a good cash situation. Which would signal to me that cost cutting measures have been effective only to a point since relegation.
It's not end of days yet but it's not good.
Hall Of Fame
All I can gather from this is MM is buying a company asset to protect his investment when it all goes belly up.
He also holds the cards for when a new Chairman is appointed at the end of the season, despite many supporters clearly not wanting him.
We are a failing company, overlooked by ST and MM but they will be fine and dandy when it's all over.
Hall Of Fame
Surely this is MM shaping up owning club?
Hall Of Fame
Short term immediate question is: is the valuation fair? Would be one for the fan groups/press to investigate. Call in an independent party with expertise to value Gussie. Got to check £1million is not too low.
Hall Of Fame
What can be done if the valuation is too low?
I know there's rules regarding selling assets if we are insolvent but snake has assured us this will not happen.
Hall Of Fame
Well it would heap further pressure on the current regime.
If it's been sold at a cut down price then serious questions about acting in the best interests of DUFC will come up.
Hall Of Fame
Only those in ST's wee bubble think they are acting in DUFC's best interests.
If we are selling assets to sustain the club why is ST wanting money for his shareholding? He should be giving them away to someone who can repair the mess he and his cronies made.
Hall Of Fame
Anyone that wants to take the club on has to give ST and now MM as well, an offer they will accept.
No matter how unpalatable that is to the majority of us, it's the state of things. They've got the keys.
They dictate the price.
But the ownership ball is firmly in the court of those who claim to be interested.
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