Probably is Thai, I'm just highlighting the fact when the word debt is mentioned you boys start wetting yourselves. What this thread is about is totally different, we are being held up being paid by people so instead of 'increasing our debt' we are interacting with our suppliers to resolve the problem. Normal business practices which the uneducated on here wouldn't have a chance of understanding.
This is why I don't get over involved. I don't scrutinise NCFC accounts so why the hell would I want to look at ITFC's - oh yeah, I would probably faint
I also don't know much about IFTC finances, but a comparison to Man Utd doesn't seem right. they are paying off their debt with massive profits, IFTC are not. that's not having a pop at the IFTC guys here, I feel sorry for them as fans as to what Evan's intentions are in the long run.
Nobody knows what ME's intentions are, anybody would be silly to pretend otherwise. As said many many times before, almost all the debt is internal, basically just figures on a bit of paper, Yes Evans is charging interest, but that again is just a figure written on paper, nothing is being chased.
that doesn't make it OK that it's internal debt. Are the marcus evans group accounts publically availiable? probably not. Do they have external debt associated with them?
Well it does in the fact that we are in charge of our own destiny in terms of paying the debt off, ideally every football club would be debt free. unfortunately the world doesn't work like this, some will be be, most won't be. Doesn't your club still owe money to delia, thats not a snipe, just a question, if so surely thats an internal debt just as we are?
yes we still owe a little to either Delia or one of the other directors,but the plan was to pay it back this season when they announced the last set of accounts. it's probably been paid now.
That's not right, it's quite clear that interest is being paid on loans and ITFC are paying rent to all the property sold to ME and leased back. ITFC are not in danger of going bust, because their "debt" to Marcus Evans is to the owner, who would gain no advantage by calling it in - if he wanted to clear it from the balance sheet it is easily convertible to equity (just like Abramovich did). The problem is that ME is making a handsome profit out of the system which takes away from player/facilities investment. There really is no threat of ITFC going under, unless the £7m odd debt not owed to ME is called in and ME can't fund it, or one of their suppliers puts them into administration (which is highly unlikely). In fact, the only reason ITFC would likely go into administration is if HMRC put them in, but there's no indication of problems with paying their tax bill, which, after all, is likely the reason that ME is heavily leveraging the club in the first place.
