When did the Americans pass the " fit and proper person" test? I wasn't aware that it had gone that far.
If someone buys a house for £350k and it has £100k mortgage still outstanding the price for the house is still £350k. The outstanding mortgage is paid back to the lender and the seller gets what is left. In our case our 'mortgage' is the money Allamhouse has lent to the club. If we sell at £100m. which includes £70m of 'mortgage' then the lender ( Allamhouse) gets the 'mortgage' back, and in this case the rest of the cash. And the club is sold. What is the problem with that ?
I thought much of the comment yesterday was strange and hard to believe folk held such opinion; today is set to excel that. Debt free ... you really couldn't make it up, but you could predict the 'likers'.
It depends which way you look at it. Perhaps the buyer doesn't need a mortgage to buy and therefore they would be debt free ?
I've lost track...are we talking about the house buyer or the buyer of the club? either way if you have a mortgage you have some debt...regardless of whether you have enough cash to pay it off or not
Is this the same debt free paying millions a year in interest on the club's debt to Allamhouse ?? City may not be in debt to banks but the debt of the club is now the greatest in the history of the club....and with the recent signings & a failed takeover who knows....the debt may now be over £100 million
Can the conditions of the existing debt be altered or restructured by the new owner, and/or are their protection that exist to protect against any future owner tweaking it to our detriment?
When a new owner buys the club there are two options: 1. They agree a price (let's say £20m) and pay that money to the Allams for the shares. This leaves the club with £80m of debt to Allamhouse, which can probably be called in at any point. The amount of interest on the debt will need to be agreed by the Allams or they'll just recall the loan. As the debt is unsecured, if the club went into administration then Allamhouse may lose this £80m owed. 2. They pay the Allams £100m and the Allams agree to write off the £80m of debt owed. Which of the two do you think that the Allams would want, ignoring tax treatment? One way or another, the debt to Allamhouse will be paid on sale (they won't risk leaving it on the balance sheet when they aren't in control). Whether it gets replaced by £80m of share premium or £80m of debt to NewOwnersLtd remains to be seen.
I think what people are missing is who money is owed to. Sounds like debt / mortgage to institutions has been repaid with money put in by the shareholders. The Allam debt will be Increaed to buy players if needed and reduced when they repay themselves from either TV money or significant transfers out .
Idi Amin no doubt thought something like that was very funny. Amin was probably the most sadistic dictator in the 20th century. He would show executions of people on television. Amin tortured and killed his country’s soldiers, government officials, teachers, artists, doctors, journalists, engineers, politicians, police officers, photographers, lawyers, business people, ordinary citizens, ministers and children. Amin’s men tortured and killed people with sledge hammers while Amin kept the pictures for fun and amusement. Amin often had his victims buried alive. Amin would often give the heads of his enemies to crocodiles. Hundreds of thousands of dead bodies washed up to the shores of Lake Victoria. Amin killed 4,000 people by throwing them into crocodile infested rivers. About 50,000 people died from disease, most were children. He would cut the flesh of people and force them to eat it until they died. Amin ate human flesh and he said proudly that he was a cannibal. He also drank human blood. Amin mutilated one of his wives and had her limbs sewn upside down. Amin killed and tortured 300,000 to 500,000 Ugandans. Amin was forced in exile in Saudi Arabia for the rest of his life. Amin died almost 25 years later in 2003. In that time Amin lived a very peaceful life.
Really ****ing ****ty comment, that. Cancer's a bastard, y'know? Moreover, so what? Tits or no tits, she's still one of the most beautiful women who ever lived, in my opinion.
This is why I don't come on here much now. A thread about the sale fallen through suddenly becomes about Angelina Jolie and cancer.
And they would be "excellent owners"?? Says who? Can someone remind me who we're talking about here please?
