AH Twitter account

[Bohinen]

He'd have probably had a better chance of a return by putting his dosh on the 2.30 at Kempton Park, rather than sinking it into the Notts black hole.

He would probably have bet on about 6 different horses so he would lose money whichever horse won.

Not sure about the domino effect admin if the loans' terms and conditions are being met, ie repayments made on time. Also, it appears that Notts debts from the Trews days were never settled, the debt was just transferred to a new owner, as it was from Munto to Trew. Not so much a black hole as a hole that has never been filled. Has anyone ever paid for anything with real cash since the days of Pavis?

[drillerpie]

Thanks P4U and Old Pie for your replies, although I think we're talking at cross purposes slightly.

I'm not talking about the wisdom of pumping money into a risky 'investment' like a football club, or the morals of putting jobs at risk by doing so, just trying to find out how much he has effectively put in as a response to MIG's 'yeah right' at the 10 million figure.

As I see it, and I don't think this is too generous an interpretation seeing as it was his company, the total amount put into Notts was the figures quoted in yesterday's Post (around 9 million) less Paragon's debts when it went bust, not including any personal investment which there may or may not have been (maybe someone with knowledge of NCFC's accounts could shed light on that.).

[centenarypie]

I doubt Mr Hardy is or ever will be "personally bankrupt" but one could argue he is morally bankrupt.

[Old_pie]

Thanks P4U and Old Pie for your replies, although I think we're talking at cross purposes slightly.

I'm not talking about the wisdom of pumping money into a risky 'investment' like a football club, or the morals of putting jobs at risk by doing so, just trying to find out how much he has effectively put in as a response to MIG's 'yeah right' at the 10 million figure.

As I see it, and I don't think this is too generous an interpretation seeing as it was his company, the total amount put into Notts was the figures quoted in yesterday's Post (around 9 million) less Paragon's debts when it went bust, not including any personal investment which there may or may not have been (maybe someone with knowledge of NCFC's accounts could shed light on that.).

Well you've refined your question somewhat. AH and his businesses have:

1) put in all that was needed to clear RT's HMRC and other debts and clear Sheridan's unfair dismissal claim
2) Running costs of the club less revenues the club has itself generated

less the amount it now owes to others

You'd need to be in a position to do due diligence to know the figures as even when the accounts become publicly available (the accounts to Mar 2018 are overdue and have not yet been submitted) it will be hard to sift through as not all details are shown being classified as a Small Company.

Without retracing all the steps from past estimates I suspect somewhere around £8m to £10m has been ploughed in to the race to the bottom and their will be on-going liabilites. This article https://www.companyrescue.co.uk/guid...all-club-4288/ refers to £7m to Paragon Interiors.

You have to wonder how much hair his financial team were pulling out in their vain attempt to keep him grounded.

[60YearsAPie]

Not sure about the domino effect admin if the loans' terms and conditions are being met, ie repayments made on time.

The “Going Concern” note in the last accounts stated that in order to continue as a going concern, Notts are reliant on continued financial support and additional future funding from Paragon Leisure Group, which itself is reliant on the continued financial support of Paragon Interiors.

“Notts received a letter of financial support from Paragon Leisure, confirming its commitment that existing loan balances will not be recalled and that future cash requirements arising from future losses will continue to be funded for a period of at least 12 months from the date of approval of these financial statements (28th March 2018). Paragon Leisure Group has received a similar letter of support from Paragon Interiors.”

“The loan will not be recalled in the next 12 months” suggests there was no fixed term for the loan.

That “Letter of Support” ran out on 28th March 2019. I can’t see how a company in administration can renew such a letter. The administrators will be calling in the loan.

[drillerpie]

How much did he really put in?

This was my original question, quite clear and not in need of much refining IMO!

Anyway thanks for the info Old Pie, the figures you quoted in your last post seem very reasonable.

[drillerpie]

Awaiting comments or alternative figures from MIG.

[Old_pie]

This was my original question, quite clear and not in need of much refining IMO!

Anyway thanks for the info Old Pie, the figures you quoted in your last post seem very reasonable.

Well seeing that an individual and a company are separate entities, and having run businesses, both as a partnership and as a limited company, what is "quite clear" depends on where you are coming from especially if there are other shareholders involved, so what seemed quite clear to you is not so clear to me as I would distinguish what his companies have put in from what he personally has put in.

But you have an approximate answer so all is well.

[Old_pie]

Jeez he's back on again today crowing about today's win. He's grasping at straws for someone to say he's done well.

[countygump]

Jeez he's back on again today crowing about today's win. He's grasping at straws for someone to say he's done well.

Errrr, not just our win:



https://twitter.com/Bigalanh5/status...92165617246208