Roger keep up the good work! Dan thinks the main debt can be paid off with a "new loan". And I thought any kind of debt was DEBT. Although Dan also suggests that Baz could pay the debt off himself. I thought if you were a bankrupt you were skint, potless and that if you "found some new money under the sofa" you would need to pay off your creditors first. Mind you at least Baz has found a well paid job - Chief Exec must pay ........ £150k. Dan a bit of advice - at best Baz is a shark, and I don't like sharks.
Elixir just because you were once made bankrupt it does not mean you are condemned for your whole life to skint and potless. Bankruptcies are also discharged after a period of time but what is more likely the case here is that Bassini gets each money from a discretionary trust fund which allows the funds to be protected from any creditors. Also, wasn't one of the conditions that he could not take any money out of the club (which would seem to include a salary) until the bonds were paid off? In any event, unless I have missed something he is not the new Chief Executive. Winter left because in GT's words Bassini wants to be more involved but that not does mean he is officially the new CEO.
I see your getting schooled by your fellow fans due to your lack of knowledge, just to enlighten you as you seem to know so much about Cardiff and their debt, Elixir this is for you as well as I have seen some of your comments surrounding our debts. No overdue debts, all debts are manageable. The Malaysian owners pumped nearly £2m into the club since last year to stabalise it (that should deal with your comment babyhornetdan). They also paid Bellamy's ridiculous wages out of their own pocket. We have just got rid of our highest earner in Chopra as well as getting £1.5m for him and Bothroyd and Burke gone too who are high earners as well so there will be money to spend. If there was no money at Cardiff like most of you are implying we certainly would not be going for the only manager that would cost us money. Personally I would prefer other rumoured managers than MM but it seems like he's our man, an announcement is expected today.
On Sky this morning; http://www.skysports.com/story/0,19528,11688_6987100,00.html Although it does not say when the interviw is, the report only went up about 20 minutes ago. GT says the club have not been approached for Malky... so either the reports are complete nonsense or he has met Cardiff without the club's permission. Knowing Malky, I tend to believe the former. If it is the latter, could be some trouble for Cardiff! As for Cardiff, I do believe they are a step up from Watford, albeit not a very big one. They do have a larger player budget, although if recent statements from our board are true, he should have a relativiely decent one here too. The biggest difference I would say is expectation. If Malky has another season like last, it will only improve his reputation but if he struggles with Cardiff, where he may have to deal with much bigger egos too, it may tarnish the good work he has already done here!
Bradleysdad--I am not moaning and it is not my job to come up with an alternative plan. That was Winter's job and he did have an alternative--find a new owner who would take on/service the existing debts while putting in new capital (new loans, or better yet equity.) But instead he got Mr B whose ability to put in new money seems strictly limited, and who undertook to pay back the original owners loans (£10M) over 5 years, which is now the first charge on any profit made from player trading. Can you not see babydan that it makes a huge difference to the finances of the club how the bonds are paid off? If Mr B had taken over the bonds / repaid them from his own resources then HE would have been financing his takeover. If they are paid off with the funds from player trading, then the club is financing HIS takeover.To spell it out: the new owner is not putting (much)(borrowed?) money INTO the club. He is taking money OUT of the club to pay for the takeover. The only (tiny) glimmer of light in this is that if we manage to bumble through the next couple of seasons still in this division we will have a much lower level of debt and a lower cost base from which to start to move forward. But no scope for investment in the ground in this period , and continuing reliance on the Academy and cheap buys for new players. And that is not moaning, it is our situation.
Thank you roger, as i am only 20 i have no idea of how these complex financial terms and was simply asking what was happening, and where the money comes from and goes. I could not read the million page offer documents and what not so i only know that there were repayments to be made over 5 years and wondered where that was going to come from.
Jeez, I swear, every time I read a post/comment by Elixir69, I end up contemplating the reason for living! I love opinion. I love that everbody likes different things, thinks about things in a different manor and functions in different ways. But, Elixir69, do you have to be so negative!? You seem to make up your mind very quickly, and each time it is towards a negative skew! And to compound this, the depressing points that you raise seem to have foundations based on assumption! I'm not having a go, but cheer up, it might never happen! As for Cardiffgate, things aren't looking too great. Having said that, I still feel (and hope) that Malky will stay. Yes, Cardiff can be seen as a better prospect than Watford in footballing terms, but things certainly don't seem to be all rosy there. You can't say that Watford are exactly glowing at the moment, but I can't help but think it would a bad move for him. He has much more potential than Cardiff (no offence to Cardiff fans). I do feel this situation is being dealt with very well by the club in terms of making the right noises. I am glad that there has been no statement by Malky, as we have all seen where this got Brendan Rodgers. I am glad about the statement by Graham Taylor in the Sky Sports link previous. That link is also good news for us. I say, there is no point in worrying about this until anything really happens. Even so, as much as I think Malky is a fantastic manager, and is destined for great things, "no man is as big as the club". If he does indeed leave, it will be a minor blip in the long history (and future) of Watford FC. So, CHILL OUT!
Wooter--I usually find Elixirs comments reasonable and realistic. It is not his comments but the things he is commenting on that should be causing you to ask "to be, or not to be.." And the trouble is, that what he fears might happen , and what you say may never happen, is probably what will happen----based on what we know of Mr B's business history, and what we do not know of his motives /intentions. Note Elixir said that "the best" Mr B might be is a shark--but what about the worst? Fantasist, front man or fraud? Not the latter I am sure, but either of the other two? Who knows! My speculation? A man out of his depth in a business he does not understand , who does not have the resources to carry the business very far, and will soon be wondering why he got involved. If Malky leaves, what will be the impact on Watford? As you say, too soon to say, and in a decades long perspective on the club maybe it will look like a "blip". But at this moment it is the last thing we need; no blips, please, not while we are trying to survive in a very competitive division, while avoiding a financial crisis.
Roger, thanks for the support. I know someone who has had bad business dealings with Baz before. You should hear what he has to say about Baz. I am fully aware of the rules on bankruptcy, thank you. Sticking to the facts the club has a new CEO in Baz - GT made this clear on Friday, but I hear Malky will be gone, if not today then tomorrow. Pre season training starts in 2 weeks, the club has taken a backward step IMO. If anyone has any concrete good news for Watford fans, then I am desperate to hear it. I am actually quite a positive person, but I can see when the club are behind the game. At this level no club can afford to be behind the game for long.
GT has said there is no approach yet but they expect one.. Suppose it will come down to if Malky really wants to leave us.
Come on Roger - you and Elixir are known as the Grumpy Old Men on here - we all know there are problems but you two do tend to post every negative and few positive - I'm not complaining as it helps to create debate
I actually thought Roger was a lot more positive on the old 606 - I used to agree with most of his comments, especially regarding the dastardly salad bros. I have to agree with BBW - the worst might come to the worst, but we really don't know very much, so why sweat yourself into an early grave when it might not happen. By the way elixir, you have claimed with apparent certainty that Baz has appointed himself CEO with a £150,000 PA salary - any evidence for this, or just supposition?
Northholt: I see you're still spouting the same old rubbish mate. People and glass houses spring to mind (although I will say I'm loving your new avatar ) Hornets: I wouldn't believe anything you read here: http://www.cardiffcityforum.co.uk/vi...hp?f=2&t=49089 Most Cardiff fans don't even bother with that forum, and definately not a word you read here: http://www.walesonline.co.uk/footbal...466-28859592/? This rag consists of the laziest, copy/paste journalism you could imagine and is despised locally (at least from a sport perspective) Some interesting view points above though but I think the bottom line is: we should only believe what our respective clubs officially release. The media circus is in full swing but unfortunately, a lot of people have bought into it.
H Bomb speaks a lot of sense. The official line from Watford is carefully worded from both Baz and GT "No official approach has been made" that doesnt eliminate the possibility of unofficial words over a pint, outside of contract talks by Malky and Cardiff or the like. I would be very disappointed if talks had gone on before any permission given as this would be unethical from Malky who I hold (it would turn to held) in high regard. If he's been talking behind the clubs back then all the good hes done counts for naught for me and it'll be good riddance to another. Hope he continues to play straight as I believe he has done throughout his Norwich and Watford days and hope the rags do not sell on the back of these stories but the world does revolve around this sort of rubbish.
"Some interesting view points above though but I think the bottom line is: we should only believe what our respective clubs officially release. The media circus is in full swing but unfortunately, a lot of people have bought into it." Very true! Deep breath time again ! MM has helped nurture a lot of young talent here,and surely he would like to see how Murray,Massey,Soredell,Thompson,Mingoia etc progress!
Aberdeen: Thanks. I don't think I've been accused of that before I hope you're right though. IF any deal does go through, I just pray it will be all above board. I've no reason to believe otherwise but after Sam and The Riddler, it's the last thing we need. Norway: I've been holding my breath for the past 3 weeks Leo: It's as anxious a time for you guys as it is frustrating for us and all this media speculation and general garbage isn't helping either camp. Anyway, I'm heading back over the bridge before I get too lost. KTF Hornets
This speaks volumes!! It goes to show that you cant believe everything you read. http://news.bbc.co.uk/sport1/hi/football/13680791.stm
