OCD Phyllis is back again. Phil, do you understand the principle of negotiation? Getting a reported £9m off the Langston debtand once paid off enables VT to capitalise his loans into equity. This is a small price to pay for giving Sam an honorary title and no power to do anything. He might have his man on the board but with no shares he has no involvement in the decision making process and can only offer opinions, if asked, and report back to Sam. This also removes any need for Sam to be paid anything from the stadium naming rights. So if and when that happens the club get it all. Like any decision there will be some dissenting voices who are not happy at Sam having any capacity within the club but for the majority this is a great step forward and another box ticked for getting the club's finances in order. Of course it doesn't sit well with many of our friends down west who simply don't understand the mechanics of it all but, hey ho, are we bothered? I'm sure there many of you who do understand and see the way the club is working to eliminate all historic financial stigmas. So Phyllis, please try to understand and when you do explain it all to your friend Stumpers who is simialrly confused. Toodle pip!!!
Lets get this thread back on topic! 'debt free soon'? how long is a piece of string? surely this a comedy line!......................... The Press Association Sport news agency reports the debt to Swiss-based financial company Langston, of whom the Welsh club’s former owner Sam Hammam is a representative, was taken out in 2004 and was believed to be worth £24 million. Cardiff owner Vincent Tan is said to have agreed a deal whereby the club will pay a one-off lump sum and a schedule of further, smaller payments. Cardiff’s most recent financial results showed the club was £83 million in debt. Now even if Tintan payed all the £24 Million off in one go, which he isn't, that would still leave £59 Million of debt, so how can you be so deluded as to put up a thread entitled 'Debt free soon'? you girls really need to remove your heads from the sand!.............. PS: £59 Million converted into shares? get buying girls...................
I know you can't believe it, but let me try to clarify what is going on. I have some knowledge of financial procedures so let me explain - in simple terms: The reason why some media are reporting that CCFC might be debt free soon is this. By accounting procedures - if the remaining debt is transferred in to shares (equity) by Vinent Tan, then the club no longer has 'Accounting' debts: it becomes more greatly owned by VT, and all debt is wiped from the Account books and Financial Accounts logged at Companies House. (though this would not show through until at least 30th June - the account date for most larger firms). The value of the debt is transferred to shares in the club, and increases VT's share of the ownership. Many of the more famous 'big' clubs in the Premier League have used this tactic to make themsleves more attractive to shareholder investors - which is quite likely what is being done here in view of VT's plans to float on the Malaysian Stock Exchange. It is reasonable to suppose that this will happen as VT (despite being disliked by the noisy minority because of the kit-colour change) has kept all his promises so far, and (unike Sam) does not appear to be a compulsive liar.
I suppose that's one way of looking at it, but do you really believe that Sam's man on the board will have no say? get real will you, Sam the man is back in at Kairdiff city, something that will rightly revolt many Bluebirds, and rightly so!...................
.......fking hell.....if you took your head out of your arse for long enough, you would read why we are debt free>>> ps I thought you dull twats had got into Europe.........the fact your having 2 try and get into the cup proper shows what a fking paint tin you just won......try winning a real cup and you wont need 2 qualify ...........you may even get corner flags the same shape as us then. [video=youtube;Vmcsx05qElU]http://www.youtube.com/watch?feature=player_detailpage&v=Vmcsx05qElU[/video]
Phyllis Do you know or understand anything about running a business at board level for a private limited company whose ownership is determined by shares in the business? Only shareholders (owners) have voting rights when decisions are made at that level. It has been made very clear that Sam has been made an Honorary Life President and does not have any shares so has no ownership in the club. Therefore he has no say in how the business, i.e. the club, is run. His man on the board will be his ears, nothing more. You might not like it but that is the way business is run. Now this must be about your 4th lecture on the topic. Are you starting to learn or is your myopia still in control? P.S. The only revolting things around here are the Swansea WUM's who don't have a clue about what is happening and see their main purpose in life as winding up others. Now go and play with those of a similar half mind to you, good boy.
Ah - I see. Because my explanation of 'Debt free soon' made sense, but didn't suit you, you ignored it. Please try to take part in debate not just rant without any reasoning powers being dispalyed.
fking hell, he`s fking dull...............................maybe some of the religious jacks can explain why god forgot 2 put brains in the heads of Swansea people
I understand all that, but Currently Vincent Tan has fewer than half of the shares in the club! if he converts your massive debt into new shares that are issued to him then he will be left owning the vast majority of the shares in the club? So does it make him outright owner? because it would seem so to me, but how does Sam get a voice on the board, surely that will not go down well in many quarters?......................
That comment was directed at the smackhead aberdude, and not at you iggy, 'the clue' was that it immediately proceeded the dudes post!...........
****ing hell Phyllis Are you hard of reading now? Sam doesn't get a voice, that's not the deal. I give up. Some people are born thick, some people achieve thickness and some people have thickness thrust upon them. Phyllis qualifies on all 3 grounds.
Don't be so thick, he gets a voice all right, why else would his representative be on the board? and watch it grow..................
smack head>>>>>>well well come on prawn balls is that all you have?....lying because you bit my bait.....what a sad twat
