Can't be, the financial wizards on Fun Mad would have flagged it up ages ago. Like they did last...oh haud on...
Just to lighten the mood, looks like the neighbours will be across the road for a cup of milk any time soon 😂
Can't be, the financial wizards on Fun Mad would have flagged it up ages ago. Like they did last...oh haud on...
Just read the new statement from Nelms to the Dee faithful (it's on TD. Two things spring to mind. First is that they haven't seen a penny of the magic insurance money and they won't until after a challenge in court.
From the statement.....
"While we have the strongest possible bespoke resilience wording in our insurance policy, we do not expect to see any initial payment on our current insurance quantum until the Financial Conduct Authority obtains a ruling from the High Court. This hearing will determine the extent of liability the individual insurers have and is scheduled for late July/early August. It is our sincere hope that the insurance comes through, and for the full amount claimed, but unfortunately there are no guarantees for any of it. In the event that our claim is successful, we will be in a stronger financial position; however, it will be months before we recover our loss of revenue from the past financial year, and it is likely we will not be able to collect on this financial year’s losses until well into the 20/21 season.
This is the grim reality of what we are facing. The continued uncertainty, coupled with the restrictions on the club (and on our other means of resource that bolster the club) has resulted in an unsustainable operating cost structure. We now have tough choices that must be considered to reduce these costs..."
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The second thing that I noticed was Nelms using the past tense a lot, not sure I'm reading too much into that. The Fun fans seem to like the statement though, weird.
No mention of the Campy financial black hole.....
Nae chance. That big insurance payment is due
Ok, just read Stoke’s post. Maybe the insurance payment is not so guaranteed!
Probably not helped if having to fork out £10m to Hearts and Partick
Can we no gie thum a lend of the Noel Hunt money?
It's not like we are bulletproof by comparison and our owners will be looking at our own black hole. But the difference is we have Premiership crowds to come eventually, sold 5000 seasons already, and we've got player assets that would generate fees.
Dees on the other hand are looking at an October start, low crowds, less than 1000 seasons sold and have not got one player they could sell.
The Fun.