Reply With QuoteWho was the charge in favour of? Either the reason for the charge has been satisfied or the chargee has voluntarily released the charge.
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Who was the charge in favour of? Either the reason for the charge has been satisfied or the chargee has voluntarily released the charge.
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Originally Posted by The Bedlington Terrier
I verified that the BFC Holdings document is indeed a true document.....as for the club owners/debtors, can't comment on ALK Capital - Calder Vale Holdings or any of the other known or unknown tentacles..
as for Velocity Sports Partners.
https://find-and-update.company-info...filing-history
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wow
Today your host Liam Vizeh is joined by the Manchester Clarets Supporters club and Danny Ward to discuss a record breaking week for Burnley FC. Including this also, the huge news surfacing today regarding Burnley FC's £65m Debt to MSD Holdings has been paid off fully.
https://www.youtube.com/watch?v=9aqtZBrO6p4
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No idea what this signifies, this is way beyond my pay grade, but it appears that Velocity Sports will be dissolved in the next few weeks and Velocity Sports owns 84% of Burnley Football Club.
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Oh! What a tangled web we weave...
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A clearer picture emerges, and financially we are in decent shape...
https://suite.endole.co.uk/insight/c...dings-limited#
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It looks as clear as mud to me mon ami, what are you seeing that tells you we are in decent shape ?
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According to Companies House MSD UK Holding's charge is fully satisfied, there is no record at Companies House of any "replacement" charge.
From what I can glean: current cash in hand £37 million, "unspecified liabilities" of £71 million and it appears we still owe Garlick and JB around £14 million in total, but that is covered in the "unspecified liabilities"
We are certainly nowhere near £150 million in debt now though sinkov.
What is unclear is whether or not we have drawn down the parachute payment, I must assume we have.
For now I'd like Alan Pace to issue an early statement of fact, but he may think that's none of our business.
It is pretty obvious though that BFC is in a "safe pair of hands" and we are still Top of the League!
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I never thought we were £150 million in debt, it was just over £100 million on the last balance sheet, of which £65 million was owed to MSD.
If we've paid off MSD we should be down to about £40 million, which sort of ties in with the £37 million cash in hand and the £71 million liabilities. I think it's a certainty that the Parachute money is gone, or spoken for. The next statement is out in couple of months, a bit more will be revealed then, but that only covers up to last July. Still too much smoke and mirrors for my liking.
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