On that score Acun Media are charging City 5% interest on £15m? Sure the Allams only charged 4% and the fans had their pitchforks out. Does this mean Acun is lending the club which he owns, money to 'help the cashflow' from a company he owns at 5% interest? Why doesn't he thrown this share issue open to the fans ( his family?) and offer us 5%? Asking for a friend who has a few spare bob in the Bank earning nothing like that.
In fairness the Allam's started at 4% and then upped it to 5%, plus dividends, plus group tax relief. Owners charging 1% will be few and far between. The views expressed in my posts are not necessarily mine.
Assuming those figures are correct (I've no idea whether they are) 4% during the years the Allams owned us was a much less competitive borrowing rate than 5% is now.
The Allams charged 5% as well, they reduced it to 4% in later years. I never had any issue with them charging interest on their money, it’s just a tax efficient way of funding the club.
He can sell it to any member of his mafia crew. Moving numbers around on a balance sheet is very easily done.
Do you really need it spelling out? When central funding comes in they take it. When direct debits are collected they take it. You're surely not that daft that you need it spelling out for you.
Eh? The 'obligations' he has removed are that he is owed less than before. If you're suggesting we will be better off then you have to accept he was taking every live penny in the club account for himself until wages day when he would then transfer money back.
Eh? 2 months ago, you were writing all was ok at the club and that you liked the owner, after chatting with him.. now he's in the Turkish mafia, telling staff not to pay ridiculously small bills and looting the club of all it's income.. Either you've got some inside info, more than petty cash bills not being paid, or he's done something to you personally, JTT?
I've said several times recently I was a fool to believe he was a decent bloke. Even spoke with the gang at Portsmouth last day of the season when I was in the directors box. The guy is a sh**house.
Yeah dunno why I would think it improves things, you clearly know about football finance than Kieran Maguire.
I've laid it out really simply for you. It's either one or the other and the latter would prove he is milking the club dry and simply now agreeing to take less back each month. Maguire has not once stated it improves our cash flow which is the issue we have. On a balance sheet it improves things, I'm not denying that, but it means nothing unless he is selling it. We still don't have any cash and we still owe a lot of people a lot of money.
Jim. please stop it. What you are saying about the owner, stuff like "milking the club dry" and such crap makes literally no sense whatsoever.
I haven't been around couple of weeks, may be more, did something happen why is Jim opposite side of Acun now?
How is he milking the club dry if he has to put/loan hundreds of thousands a month of his/someone else's money into it to keep it running? Dont the account show that the debt has increased as salaries have increased? Sounds like the club/players salaries are milking him, and most other owners, dry.
Interesting, welcome to dark side Jim. I wonder if Kalman is supporting Acun now, that would be a shocker.
I’ll bite. How can he possibly be ‘milking the club dry’ when it’s losing money at a rate of £600k a week? Maybe he can breathe in a vacuum too.
