Accounts Released

[west stand stiffs]

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

So how much was the debt AA took on in respect of the SMC as the result of Pearson arf and Bartlett getting a mortgage on it, are the amounts comparable?

 

[originallambrettaman]

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.

The council aren't going to take over a private company that's £17m in debt, it's not their problem.

The SMC's accounts will be out in just over a week and the debt is likely to have topped £20m.

 

[originallambrettaman]

So how much was the debt AA took on in respect of the SMC as the result of Pearson arf and Bartlett getting a mortgage on it, are the amounts comparable?

Bartlett's mortgage on the stadium was £3.4m, a fraction of the debt it's now loaded with.

 

[Gone For A Walk]

The SMC is a completely different company, it's debt doesn't 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.

... so what do you think the debtors, particularly the group related element of £18 m is OLM? Any idea? Like others, I assumed it would be SMC related. If it is then it's £18m that won't get paid to the club. If it isn't, then what the heck is it?!

 

[Top_Tiger]

... so what do you think the debtors, particularly the group related element of £18 m is OLM? Any idea? Like others, I assumed it would be SMC related. If it is then it's £18m that won't get paid to the club. If it isn't, then what the heck is it?!

so we are owed 18 million for players or have received that. Why have we only got 3.5 of it. Where’s the rest gone?

 

[Gone For A Walk]

so we are owed 18 million for players or have received that. Why have we only got 3.5 of it. Where’s the rest gone?

Note 11 states the £18 mill is owed by related companies so I can't see how it has anything to do with player sales. I can only think it's SMC related, which means it's £18 mill showing on the BS (!!) that the club won't get?

 

[west stand stiffs]

Bartlett's mortgage on the stadium was £3.4m, a fraction of the debt it's now loaded with.

Any idea what the additional investment in the stadium has been spent on? Has there been major infrastructure changes over that period?

 

[balkan tiger]

Any idea what the additional investment in the stadium has been spent on? Has there been major infrastructure changes over that period?

The pitch gets relaid fairly often. Fan dividers get relocated far too often

If the SMC is losing money their only answer is to raise the rent charged to those using the facilities.

 

[originallambrettaman]

Any idea what the additional investment in the stadium has been spent on? Has there been major infrastructure changes over that period?

Much of it was to meet Premier League requirements, media facilities, the new floodlights etc.

 

[Charon]

so in a nut shell - when they took over we were £40 million in debt - we are still £40 million in debt and the Allams have awarded themselves something like £40 million in interest payments - unless someone tells me different

 

[SW3 Chelsea Tiger]

so in a nut shell - when they took over we were £40 million in debt - we are still £40 million in debt and the Allams have awarded themselves something like £40 million in interest payments - unless someone tells me different

I don’t think it’s any near £40 mill in interest, 2mill a year over 10 years = £20mill

still significant, but half what you claim

 

[Top_Tiger]

Surely the fact we are gonna be bottom gives us more chance of them going. They’ve got KPL and Greaves left that’s it. Maybe 5 million quid for them both.

 

[Charon]

I don’t think it’s any near £40 mill in interest, 2mill a year over 10 years = £20mill

still significant, but half what you claim

We were £100 million in debt under Bruce - they were taking around £4 million a year then

 

[SW3 Chelsea Tiger]

We were £100 million in debt under Bruce - they were taking around £4 million a year then

That was only for 2 years ish, until they sold the players for a profit. It’s no where near £40mill in interest mate

 

[highpeak tiger]

We were £100 million in debt under Bruce - they were taking around £4 million a year then

With some assets in players.

 

[John Ex Aberdeen now E.R.]

At the end of the day, without going into figures in detail, if they sell the club for £15m - £20m then they will not be out of pocket from their time at the club.

 

[Kempton]

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.

Remember when we were "the pretty girl in the park" ?

That was a Paul Duffen special

 

[originallambrettaman]

That was only for 2 years ish, until they sold the players for a profit. It’s no where near £40mill in interest mate

It is about £40m in total, they've had about £25m in direct interest so far, with almost half that again in group tax benefit.

 

[Chazz Rheinhold]

It is about £40m in total, they've had about £25m in direct interest so far, with almost half that again in group tax benefit.

Do we expect new owners to award themself a salary? Or do it for free?

 

[originallambrettaman]

Do we expect new owners to award themself a salary? Or do it for free?

We expect them to invest in the team and pay themselves whatever they like, just as the Allams did in the beginning.

It's just taking money out for seven years, without putting a penny in, that most find a tad irritating.