FPP to take full control

I just meant selling and wanting the money when we’d just dropped to league one. No one could guarantee getting back to a position where we were in a position to pay this back to him and he obviously wanted his money when we could still guarantee it, ie before the loss of the parachute payments

 

Methevan's angry reaction at wembley on stid said a lo to me as far as im concerned

 

They'd have little other choice tbh.

 

But Ellis didn't stay in charge so what he might have done with the parachute payments had he stayed is irrelevant. Who knows what he would've done. Who would've second guessed that he would wipe some 150m of debt. The parachute payments have everything to do with the new owners.

These are Methvens words at time of purchase (from the WMS article):

"If one had to pay him the full £40m up front and then had to cover everything you need to pay for in the short term that would be a difficult thing to do, that’s an awful lot of cash. He has accepted that he will need to be paid gradually…The £40m will be secured on the parachute payments, but Short won’t take them".

It's unequivocal. Why are you seemingly ok with the complete lies they spouted because of the 'club money club debt' line being trotted out? They told us 40m not touching the parachute payments. Then used the parachute payments. It's disgraceful.

 

Fair do's, thought you were meaning the £25m debt.

 

well that put a stop to people posting there.

 

That's a matter for them. Those clauses exist to stop the seller manipulating the value of the club below that of the value of the loan, or making a 'poison pill' arrangement that led to them taking on an asset they didn't want.

I'd like to think they'd take us on, but it's not in there for a laugh, put it that way. If they felt that we were in a bad situation that they couldn't rectify without spending more than they were comfortable with, they'd likely just chalk up the £9m as a loss and avoid compounding it. I don't think we're that bad yet.

Again, I'd love to know what the books are like though. The way Donald has handled this, I don't think it's possible to trust the public accounts as an accurate picture of where we are/were.

 

madbob is being very strange over the way. Says things will get bad for us over the next few months. Not sure he has said what he means?

Obviously caveat that with the usual 'Berb knows nowt'

 

He changes as much a the weather

 

Was that clown not telling people we would have a takeover complete before the mags just a few days ago?

 

Not quite, he did say things wouldn’t get better for a while yet. I’m assuming he is alluding to a buyout taking longer than normal

 

Fair enough, it's hard to grasp what he means at the best of times. I'd love to know what he means, but I have no doubt it's entirely bollocks anyway so hey ho.

 

Firstly I hope you’re not a WUM.
Secondly do I need shares in Kleenex and Specsavers?

 

Yes he certainly did

 

Well it was only a few weeks ago he was saying opposite and adamant there would be an takeover before mags

 

One thing I've been wondering, this £20m doesn't have any timescale for when it had to be repaid, it's an intercompany "debt" and they've always said that it would just be paid off as and when they needed to. Its not like the SBC loan when it had to be repaid by a certain date.

So, that being the case, why would they remove the obligation now, in this set of accounts? At a time when fans are already questioning them it was always going to lead to a lot more questions and anger. I mean, they could have removed it in three months time so it wouldn't come to light for another year, or they could have removed it in two years time and so on.

Just thinking out loud like, but if someone wanted to buy Madrox but wanted it removed first then that would explain why its been done now. I can't see why else they'd do it since they'd know the reaction it would lead to and doesn't seem to have any advantage for them?

 

It sure is and I read it the same way as you first

 

Quite right, that's a good argument.

There's also been no reaction, whatsoever, from Donald who's usually quick to threaten newspapers.

 

Well this is Part of his response to someone that pulled him up on it.

“I aint backtracking ****er the mags deal will not happen as advertised just watch.”

Let’s hope he can get at least one thing right sometime