Ah, so they did not conduct any investigation of the finances, nor carry out any due diligence, but only "discovered a mass of other unpaid invoices after they had taken control.." Or, as I put it, steamed in. But I would really like to know the amount they were owed for them to act so.
Not doubting you. So they put no money in? They charge interest of ?? Million a year? The debt is?? and they guarantee the debt? So whoever wants to buy the club buys the debt? Is that right?
The debt is to them personally, so obviously needs no guarantee and they’re effectively trying to get someone to repay their debt to buy it debt free.
In a word, no. They’ve pretty much had all their original investment back in interest and group tax benefits, so anything they get for the club now is profit. If they sold the club tomorrow for £15m and wrote off the £42m debt, they’d still be £15m up (in reality they’ll have had some costs, so they wouldn’t actually be £15m up, but they’d still have made millions from their ownership).
WHAT COULD GO WRONG WITH DERBY TAKEOVER? The new owner of Derby is 29, claims to be a world champion boxer — 15 rounds fought and five wins — and held an advisory role at Sheffield Wednesday, who began the season with a 12-point deduction. He calls his company No Limits Sports Limited. And again we ask: what could possibly go wrong?
Have you ever been close to someone who was in a relationship in which after a honeymoon period, they were constantly emotionally abused? Just curious
Yes extremely close and the fact your even comparing that to the owners of a football club and it's fans is actually leaving me speechless and shocked
Highly successful man in the sporting field and made a right **** up of it. When owner Marcus Evans took over the club in 2007, the club were £32m in debt to Evans. Due to the club paying Evans around 5.4% interest on the debt every year, club accounts in 2012 showed that the figure had more then doubled to £67m and he hadn't converted any of it to equity.[15] After 11 years of Evans's ownership, the club finished bottom of the Championshipin 2019 and were relegated to League One, the third tier of English football, for the first time since 1957. Following relegation the club's debt, which is owed exclusively to Evans, rose from £95.5m to £96.3m.[16][17]
I think Ipswich fans will tell you he stuck around for a long time after he was welcome, before he finally ****ed off. Crucially Evans could never get the club’s finances back on an even keel.
