Jbg.

[The Bedlington Terrier]

"by all accounts we are now only £35 million in the red."

Smoke and mirrors mon ami, not according to the club's own accounts. We owed £102 million, not £65 million. The £65 is just the debt that becomes repayable early in the event of relegation. According to the club's own accounts that still leaves us £70 million in the red and counting, when you take into account the interest payments that are racking up on that debt. It's all explained below, copied from the club's accounts.

"The group has an outstanding debtor balance of £102,000,000 due from the undertaking of Calder Vale
Holdings Limited, which arose in relation to the acquisition of Burnley FC Holdings Limited during the year.
Of this balance £65,000,000 is a payable to Burnley FC Holdings Limited, with £37,000,000 payable to The
Burnley Football & Athletic Company Limited."

"Included within other loans is an amount of £65,000,000 which arose following transactions linked to the
acquisition of the group during the year. The capital element of the loan is due for repayment by the company in December 2025, with interest only payments being required up to that point, providing the club remains in the Premier League. In the event of
the club's relegation from the Premier League, the repayment schedule for the capital element of the loan
is brought forward, with a significant proportion falling due for repayment shortly after the end of the football
season in which the relegation event takes place."

It's common knowledge ALK have renegotiated that deadline sinkov. It's pretty much guesswork until the new accounts are published but I don't think £35 million is far off and in footballing terms that's a drop in the f*cking ocean.

[sinkov]

It's common knowledge ALK have renegotiated that deadline sinkov. It's pretty much guesswork until the new accounts are published but I don't think £35 million is far off and in footballing terms that's a drop in the f*cking ocean.

They can renegotiate deadlines to their hearts content mon ami, they can make deadlines disappear, but they can't make the debt disappear and the club's own accounts say that debt is/was £102 million. If they've paid off £32 million that means they still owe £70 million. Not me saying that, not me estimating, not me guessing, or passing on what someone else says, I'm simply telling you what the club's own Annual Financial Statement says. Alan Pace wrote it, Alan Pace signed it off, if you think it's wrong, take it up with him, or the club's auditors, they signed it off as well.

[The Bedlington Terrier]

They can renegotiate deadlines to their hearts content mon ami, they can make deadlines disappear, but they can't make the debt disappear and the club's own accounts say that debt is/was £102 million. If they've paid off £32 million that means they still owe £70 million. Not me saying that, not me estimating, not me guessing, or passing on what someone else says, I'm simply telling you what the club's own Annual Financial Statement says. Alan Pace wrote it, Alan Pace signed it off, if you think it's wrong, take it up with him, or the club's auditors, they signed it off as well.

We have no real idea how much Alan Pace used of the 2021/22 EPL revenue to pay down the debt mon ami. Reliable media sources are now off our case and suggest/speculate we are now just £35 million in debt.

With about £250 million in assets and cash to play with I believe his "High Risk/High Reward" strategy is paying off don't you?

[sinkov]

We have no real idea how much Alan Pace used of the 2021/22 EPL revenue to pay down the debt mon ami. Reliable media sources are now off our case and suggest/speculate we are now just £35 million in debt.

With about £250 million in assets and cash to play with I believe his "High Risk/High Reward" strategy is paying off don't you?

I thought you'd been for a week on the North Norfolk coast mon ami, not Fantasy Island. May I just remind you that this club, that you think made enough profit last season to pay off £35 million of debt, was so strapped for cash last January that it had to take a loan out for £12 million, so it could get it's hands on the deferred 2nd instalment of the Wood transfer fee. Far from paying off debt from the profits they were making, this suggests an enterprise with serious cash-flow problems.

You keep sipping the Kool-Aid mon ami, it's doing wonders for you.