Accounts Released
- Thread starter JoelTheTiger
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That makes more sense. Thought from the original post that we were talking about a current academy player.
The way things are going, they will be regretting not taking the offer.
As far as we know the EFL money was only about £500k and technically it's a grant, not a loan, there's no interest and it doesn't have to be repaid.
And made a perfect excuse why we couldn’t spend any money.
Best gift Eham ever had.
It would look a lot worse if we had stayed in League 1, the wage bill is more realistic now and we get 6M more TV money in the Championship, we have to stay up.
Honest question, do these account's influence any takeover bid i ask this question , because i cant see the club being sold for the outstanding amount on the accounts, unless the Allam's write off a large chunk of the debt, given especially, were we sit in the championship table.
The interest would be payable to a bank.
But look on the bright side. Eleven years ago, Papa wrote a cheque for 24 million to swerve a winding up order.. And very soon after provided guarantees for a similar amount. Their astute running has got the liabilities below 40 million. Phew. Two visits to the promised land, the last relegation earning a pot of 100 million, transfer fees, and they have reduced the debt by some 8 million. Yep, depressing.
And without re-igniting the going concern what it is and isn't discussion. The same note appears in this years accounts. The club is dependent on Allamhouse to operate as a going concern.
Loans to Allams of 39.5 mill. But debtors (owe the club money) of 20.5 mill, of which, according to note 11, 18 mill are group / related companies?? Net = c. 20mill.
Anyone on here understand the detail behind that?
Anyone on here understand the detail behind that?
All I think is why would anyone want to buy a football club?
How do the Turks make money out of us? They’re not doing it for altruistic reasons are they.
Don’t own our stadium, small capacity for a hopeful pl team.
Flaky supporters.
**** council who are shady as ****.
We’re like the fat bird at the end of the night in Tower.
How do the Turks make money out of us? They’re not doing it for altruistic reasons are they.
Don’t own our stadium, small capacity for a hopeful pl team.
Flaky supporters.
**** council who are shady as ****.
We’re like the fat bird at the end of the night in Tower.
Could this £20.5m be the SMC debt, so either the new buyer or council being liable?
I hope I'm wrong but I worry the amount owed by the SMC could be problematic in the sale.
AA said many a year ago the council had lost any control over the smc after allowing Pearson arf and Bartlett to get a mortgage on it.
So I reckon that will come into it and it will get loaded with debt
But they own the SMC too and all it's debt.
My guess is that they will find a way to offload the SMC and it's debt back onto the council.
I believe they've already said why and how ... in a nutshell, take us to PL, enjoy the ride & experience, then sell us as a PL club.
Simples
, but here's hoping
The SMC is a completely different company, I wouldn't have expected the debt incurred there to appear in these accounts.
I've never understood what the plan was with the SMC, it's been loaded with a lot of debt (that should really have been club debt) over the years. I still wouldn't be surprised if they wound it up just to piss the council off, but it would leave the new owner requiring a new lease deal.