Venkys to write off debt

[test]

The Venkys are to write off the £70,000,000 debt to enable us to get out of FFP embargo. This will happen on Christmas Day as they want it to make the biggest impact. This will also make the club saleable and they can bail out with their heads held high. Lambert was promised this and is one of the reasons he joined the club.
Don't ask me to reveal my source as it will not happen. This is my last comment on the subject and I will leave you to discuss it among yourselves.

[alfinyalcabo]

You might get quite a few in your net with this one Test. Lol

[DanRrr]

Well, we'll find out on Dec 25th Alf. I thought FFP was to do with income vs outgoings though? Although Venky's clearly said something of merit to get Lambert to get him and his team in

[needle]

If true , I hope they already have someone lined up . I would expect they have for Lambert to take the job .

[jordan12rhodes]

Until the club is promoted to the premier league, it does not stop the ongoing losses each season, so not sure how it makes us anymore attractive to potential buyers.

[bigmoon]

My understanding is that wiping out the debt won't relieve us from FFP. But what I know you can jot down on the back of a stamp...

[Despair]

It's income set against expenditure so what about them purchasing say 25 k seats an then offering them out as complimentary ????
Major increase on crowd attendance for second half and trading nearer to within ffp limits
Plus a happy forgiving support
Everyone's a winner

[robinrover]

I have a sneaky feeling despair there is a rule preventing this(surprise surprise)as it is deemed the owners pumping money in
Plus if I was a season ticket holder and was sat next to somebody who paid nothing I would be pretty peeved
FFP has clauses which you can find loopholes like city's sponsors for shirts and stadium just because it's in his brother's a blatant flaunting of the rules
Will venkys try a similar stunt?surprised many havnt tried the same.

[Howie5o]

Correct Moony /Despair.

FFP is worked out over a financial year NOT the actual debt the club is in. Rules change next season to a loss of 13M over the season or 39 M over three seasons.

As for our outstanding debt im pretty sure a lot of that has been turned into shares by Venkys including another 15M in October so basically writing off the debt that the club owes to them.

I like that idea Despair regarding the buying of seats but im sure somewhere down the line they wouldnt be able to that ?

[MillHillRover]

Aye in bold block capitals too