Looking like the return of the three AmigosQuote:
Originally Posted by MadAmster
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Looking like the return of the three AmigosQuote:
Originally Posted by MadAmster
Now being reported as a 30 million "commercial loan"
That won't last long the way we are bleeding cash - 3 years maybe. Critical that promotion is attained or that sort of millstone could drown us.
As phrased in DT it does not sound like an investment in the club really.
So is it just a loan then GP?Quote:
Originally Posted by Geoff Parkstone
If so, what is it up against? Seeing as you don't own the ground anymore
There are those saying the club is losing £2.5M a month. If true, which I doubt, the new cash would run out after 1 year......
I'm not sure that the 2.5m bleed is terribly accurate, but we should be able to see later in the week when the accounts should be filed for the year ended 06-19
Unless of course they decide to seek the 3 moth corona extension on filing
Having said that, the company that now owns the ground, Gellaw Newco 202 Limited is now a couple of weeks late in filing its accounts, which were due 19-03.
In November Gellaw Newco 202 Limited pledged the ground under a fixed and floating charge in favour of Rams Investments Limited in connection with certain "Finance Documents". There appears to be some borrowing from Rams Investment Limited, which is owned by Duet Holdings - a Henry Gabay company.
So if the Gabay consortium has a charge over the ground, how will the Dell investment work - or are part of the proceeds from the Dell investment going to go to pay off borrowing from Gabay?
And still the accounts are late! Conspiracy theory please?
I'll play. Mel plans to liquidate the club and turn the Stadium into a venue for concerts, Boxing and regular WWE extravaganza in order to have a chance of turning a profit ;)Quote:
Originally Posted by Geoff Parkstone
Money is wrecking the game, every club world wide struggling! I'd love to know if there really is a club that's making a profit. Why would you want to buy a club to lose money, I really don't understand why folk are prepared to make such massive financial losses in buying a football club! These billionaires are top business men so why would they want to buy a club knowing they are going to lose millions?
Quote:
Originally Posted by Manofpride
Mostly because they have money to burn and want something to play with for their own egos?
I can see the attraction for a local businessman who has made his millions and wants to put some money in to his local club. Ben Robinson at Burton seems to ahve the right approach, a careful budget and see where it gets you, but I guess Derby fans want more?
This is of course a two edged sword as Mel has found out, you can't keep everybody happy.
As for clubs that make a profit, Man Utd? or at least until the Glaziers loaded debt on it
Is money wrecking the game? Its a mute question but certainly I'd say players are now overpaid and agents seem to cream off millions for doing **** all.
I'm not sure it's even a moot point Swale. It's clear cut to me, but maybe I'm even more of a cynic than you!
I also suspect there may be tax advantages to investing in loss making businesses, although not sure how. It can't be all altruism, but there are also spinoff marketing advantages and maybe its an acceptable way round anti money laundering rules in some jurisdictions