Shareholders Meeting in The Copthorne Hotel.

[Holden_C]

How are the assets valued H?

From the balance sheet value?

I'd guess independent valuation, which is pretty standard in shareholder agreements unless preagreed. Which would be unlikely in this case.

[Chingo]

McCabe is listed as the ultimate controlling party of the whole shebang by virtue of his shareholding which I believe is a maximum of 50%. His sons own the rest.

Far from milking us dry, he's not transferred a single asset without transferring an equal amount of debt or reducing his loans to the club of the same sum as the asset value. That's the he trouble with facts. People don't like them and ignore them, no matter how daft it makes them look.

He's actually paid for every asset he's transferred. He bought the hotel and took the equivalent debt. It's lost eight million quid that the football club would have suffered. Same with SU Ltd which loses money because the rent is £310k and the loan interest is at least double that. He's transferred money owed to him into share capital of around £37m and put £6.6m in cash in since the Prince came on board.

It's pretty easy to show why he's into us for £60m minimum,looking at the other losses.

Who’s idea was it to build the hotel ?
The ground and shirecliffe and all attached buildings will be worth a fortune , he’s not as deep in as it made out , and think of all the business opportunities owning the club has given him ... he’s doing alright for himself I would imagine.

[Holden_C]

Who’s idea was it to build the hotel ?
The ground and shirecliffe and all attached buildings will be worth a fortune , he’s not as deep in as it made out , and think of all the business opportunities owning the club has given him ... he’s doing alright for himself I would imagine.

Did you read any of my post?

Please tell me about the business opportunities though. Seriously, one will do. But let's have facts not rumour. While you've been away we've been told categorically that the rent was going up to£1.5m and that two years ago, there would be an announcement about leaving BL for a new ground. Both by posters who don't show their faces on here anymore.

I bet he'd have made, not lost, money, if he'd invested his £60m elsewhere.

[sabellaalex]

It makes interesting reading these fact/fiction sections.
I dont understand the ins and out but i'll keep trying. H you're doing a great job in making it simplified ish. Thanks
Is there a timescale in place for any take over to happen?

[Chingo]

McCabe is listed as the ultimate controlling party of the whole shebang by virtue of his shareholding which I believe is a maximum of 50%. His sons own the rest.

Far from milking us dry, he's not transferred a single asset without transferring an equal amount of debt or reducing his loans to the club of the same sum as the asset value. That's the he trouble with facts. People don't like them and ignore them, no matter how daft it makes them look.

Did you read any of my post?

Please tell me about the business opportunities though. Seriously, one will do. But let's have facts not rumour. While you've been away we've been told categorically that the rent was going up to£1.5m and that two years ago, there would be an announcement about leaving BL for a new ground. Both by posters who don't show their faces on here anymore.

I bet he'd have made, not lost, money, if he'd invested his £60m elsewhere.

So buying Chengdu didn’t open doors in China for him ?
He only went over there to do a shirt deal with desun and bought the club (well SUFC bought the club) and since he has become a big player in property over there.
Not to mention the shopping complex’s and string of coffee shops in China.
Being the owner of the football club has risen his profile in business circles and his companies will have got work of the back of it.
So what he has lost on the SUFC swing he has more than gained on the business roundabout.

[Holden_C]

So buying Chengdu didn’t open doors in China for him ?
He only went over there to do a shirt deal with desun and bought the club (well SUFC bought the club) and since he has become a big player in property over there.
Not to mention the shopping complex’s and string of coffee shops in China.
Being the owner of the football club has risen his profile in business circles and his companies will have got work of the back of it.
So what he has lost on the SUFC swing he has more than gained on the business roundabout.

As I SAID, you know very little. He was already in China via Topspring. That's how he came across the Chengdu deal.

It's fantasy to suit your agenda. I did ask you to stick to facts.

Now which work has he got because he's owner of a lower league club?

[Holden_C]

It makes interesting reading these fact/fiction sections.
I dont understand the ins and out but i'll keep trying. H you're doing a great job in making it simplified ish. Thanks
Is there a timescale in place for any take over to happen?

The litigation could go on for months. We don't actually know what's happening anyway. It's a concern.

[Chingo]

McCabe is listed as the ultimate controlling party of the whole shebang by virtue of his shareholding which I believe is a maximum of 50%. His sons own the rest.

Far from milking us dry, he's not transferred a single asset without transferring an equal amount of debt or reducing his loans to the club of the same sum as the asset value. That's the he trouble with facts. People don't like them and ignore them, no matter how daft it makes them look.

As I SAID, you know very little. He was already in China via Topspring. That's how he came across the Chengdu deal.

It's fantasy to suit your agenda. I did ask you to stick to facts.

Now which work has he got because he's owner of a lower league club?

“United known as the Blades after Sheffield’s steel industry played a crucial part in the international reach of Mr McCabes business”

That is a quote from a Financial Times article on KM , now if I knew how to put links up on my phone I would do it but I don’t , alternatively google search Financial Times rules for doing business in China Kevin McCabe .

It also shows how things panned out in China for him after the Desun shirt deal.
🙂

[Holden_C]

“United known as the Blades after Sheffield’s steel industry played a crucial part in the international reach of Mr McCabes business”

That is a quote from a Financial Times article on KM , now if I knew how to put links up on my phone I would do it but I don’t , alternatively google search Financial Times rules for doing business in China Kevin McCabe .

It also shows how things panned out in China for him after the Desun shirt deal.
🙂

The first FT hit also stated that he had been doing business in China for years.,since 2002.


"Scarborough Holdings Ltd has been headquartered in Hong Kong along with an office in Shenzhen, China since 2002.

During this time our businesses have flourished and while still concentrating primarily on real estate, we have diversified into the consumer sector in order to take advantage of China’s buoyant markets and opportunities. We are highly regarded in the People’s Republic of China and Hong Kong, having been one of the first privately owned UK companies in the 21st century to be actively involved in the real estate and consumer markets."



2002. Before Chengdu Blades, Before promotion to the PL,


The notion that he became rich on the back of United is a joke. We had one year in the PL and until last season ten years of failure. I bet that really impressed Chinese investors.



Go on, what's next?

[Chingo]

McCabe is listed as the ultimate controlling party of the whole shebang by virtue of his shareholding which I believe is a maximum of 50%. His sons own the rest.

Far from milking us dry, he's not transferred a single asset without transferring an equal amount of debt or reducing his loans to the club of the same sum as the asset value. That's the he trouble with facts. People don't like them and ignore them, no matter how daft it makes them look.

The first FT hit also stated that he had been doing business in China for years.,since 2002.


"Scarborough Holdings Ltd has been headquartered in Hong Kong along with an office in Shenzhen, China since 2002.

During this time our businesses have flourished and while still concentrating primarily on real estate, we have diversified into the consumer sector in order to take advantage of China’s buoyant markets and opportunities. We are highly regarded in the People’s Republic of China and Hong Kong, having been one of the first privately owned UK companies in the 21st century to be actively involved in the real estate and consumer markets."



2002. Before Chengdu Blades, Before promotion to the PL,


The notion that he became rich on the back of United is a joke. We had one year in the PL and until last season ten years of failure. I bet that really impressed Chinese investors.



Go on, what's next?

Who said he had got rich off the back of United ?

I have said that being owner of SUFC
Has opened doors for him in business and the FT article backs that up and what he has lost on United he has gained in the extra business and probably more.