chairman mo has converted his 200m debt into equity so ffc is debt free, well done mo we love you, not sure if this means we are primed for a take over, but well done for doing this, a lift we needed
Great news... But also might mean that he can take more from the profits as he will have a higher equity.
i am sure it will be for his benefit as well, but he wont have to take the 10m every year, we need to invest in the summer,
This is great news. A solid financial base from which to stride forward to the upper echelons of mid table. For the record I'm happy with that.
Official announcement: http://www.fulhamfc.com/news/2013/january/29/financial-results?utm_source=Social&utm_medium=AllSocial&utm_campaign=chairman&utm_source=Social&utm_medium=AllSocial&utm_campaign=MB Definitely will be front-runners on any kind of revenue based model is put forward by PL or UEFA.
Does this mean we're going to floated on the Stock exchange? No, seriously it's incredible news. For one there is no longer the commmitment to repay MAF the (former) loan off at £10m per year and second, as Madness said, it puts us in great shape for whatever 'Fair Play' model comes along. The reason behind the decsion will no doubt unravel over time but there can be no doubting that it's a fantastic gesture by MAF to Fulham Football Club. Let's hope he attends tomorrow night's game - what an ovation he'll get! please log in to view this image
To me this sounds like he's putting the club up for sale soon. Understandable given he's getting on, although the thought of ending up with a Mike Ashley/ Venky type owner terrifies me. This information was probably what caused some bookies to slash their odds on Jol leaving; if Al Fayed sells before the season is out the new owners may not show the same patience he has. If he's done this then it means the money to pay the club's debt to Al Fayed's has gone, so he has decided to make the money back this way. Some of it has probably gone towards a new Riverside stand, but some left over may have been relocated to our transfer and wage budgets, which would be nice. True this is great for our finances but overall the news worries me a little. I really hope I'm wrong about him leaving, he's really done a fantastic job with us.
Firstly, brilliant news, thanks Mo! Secondly, you may be right on the Mo leaving thing, RR. Although it could just be "future-proofing" us, should anything untoward happen to him (like you say, he is getting on).
I've just had it pointed out to me that if he was planning to leave it would also go some way to explaining the large number of contracts left un-renewed and expiring soon...
Depends on his family. He got his son on the board last March. But in any case it is only making the club stronger.
the more i think of it i spoke to alastair mackintosh on saturday, and his words were al fayed deserves to sit back or something along these lines, it went straight over my head at the time
Now that is very interesting. Is he making way for the new generation but at the same time ring-fencing the club? Only time will tell. The news also mean the club has to live within its own means which has been the case the last couple of years. The development of Riverside stand will provide extra revenue which is needed.
Five points from the drop, he'd better start spending some money or his equity won't be worth the paper it's written on.
