Henderson rumour

[WOMBATWOMBAT]

I have heard that the 10% sell on clause for Henderson actually expires on 1 July 2023. So if Forest take up the option to buy next year and the paperwork is processed after that date the club will get zilch instead of 2 mill!

[griff]

Source?

Oh, and care to introduce yersel?

[howoldboy]

At face value a sale of Henderson (unless well in excess of £3m) will be of no real benefit to the Club.

It will simply be used to reduce the amount owed to Philip Day and consequently reduce the personal liability of the Directors who guaranteed the loan.

The beneficiaries of any Henderson money will therefore be Andrew Jenkins, Steven Pattison, John Nixon and Philip Day.

The Club will still be in debt to Philip Day and will still be under the same ownership.

The best we can hope for is that a significant reduction to the level of debt might attract a potential buyer.

[_Stefan_Kuntz]

Although I accept what you state, a reduction of the debt is a slight improvement to the club's dire financial situation and thus is on its own a good thing.

Of course the club's liabilities are significantly in excess of the value of its total assets (tangible & intangible). The normal trading is loss making. Thus in my opinion the club is insolvent. The only technicalities keeping the club clear of formal insolvency litigation seem. to be the fantasy value of the tangible assets in the accounts and the staying of PD's hand with regard to debt repayment. However, if PD wakes up in a morning not having had a good s­hag then Carlisle United 1921 is f­ucked.