Does anyone actually know the size of the loan advanced by the MacQuarrie Bank ? Is it for the total expected parachute payments over this & next season ?
I doubt it, although they were entitled to all the parachute payments as per the original paperwork. The charge against the land has since been released but that's all the knowledge that's in the publc domain. Knock yourself out. https://s3-eu-west-1.amazonaws.com/.../WxQ2HEehOpDrP7ukfiOeZSs+eH7RfBtAhiwolobyzAU= Edit: I'll save you some time and say the relevant bits start from page 60.
Agreed - my speculation too. See post # 11528 on page 577 of The City Transfer Thread, which is what the attachment 77155 seems to have picked up on. We're going round in circles it seems, with Ehab ( or ?) playing his silly games with possibly unattainable clauses.
It's late and I'm tired but paragraph 4 above seems to suggest it's only this year's parachute payments.
Everything seemed to suggest it was the full amount. If it's not then obviously there will be some money to factor into the sale price, but not 50m.
Can't read the link I'm afraid IT ! The bloody thing almost crashed my system - but thanks for trying
Yeah I was on my phone so they didn't show up. Very interesting. It's absolutely my fault for reading secondhand information and not going to the source, and if this is the case then I don't think a 50m asking price is all that ludicrous. Throw in we have a Grade 2 Academy now which is pretty decent, and while we don't have a decent playing group at this stage, if we add 3-4 permanent signings before deadline, then who knows. Someone like Kingsley for instance who we're getting 'for free' after a year or two of playing may be worth 10m or so, so things like that can be a point for the new owners to see the squad as being in a healthy position as well as being healthy off the pitch given the lower level of debt. For OLM to be thinking the price is crazy as well as the silly clauses though, I'm a bit concerned, but I guess we just have to see what happens come October.
OLM and TOM seem to suggest that's the target for a sale date. I suspect therefore we should at the very least know if a deal is happening or not by then.
Does anybody know what type of insurance clubs take out on players in case of career ending injuries? In the case of mason if worse case he can't play again would they get back the initial fee or the market value today? Could well be another 10million pay out to Ehab without having to sell him.
I'd assume the responsibility lies with both the clubs (and the player) to purchase an Accident & Health insurance policy (the player) and a Key Man Insurance policy (the Clubs) to cover such eventualities. The rates would be steep given the nature of their occupation, but that would be a factor considered in the salary negotiation between club & player and possibly between the buying & selling clubs during transfer fee negotiations. In the case of the players, if they have some sort of pension plan and or life insurance policy, they may have riders on the policies to cover the accident/health risks.
Having just asked around, it sounds as if it is relatively standard procedure to insure, and you would be able to receive the amount remaining on the contract. He signed a 3 year deal didn't he? So we could probably hope to get 10m. That's unconfirmed though and there doesn't seem much detail about it floating around.
They do have scouts covering all these regions though, and much further afield. Agree in engaging other grass roots opportunities though.
Would obviously rather see Mason play again for his own career but it could mean another 10 million of the price or in value if the club is sold
Career ending injuries are covered by the PFA, though I believe they look after the player, not the club, so it would remove any ongoing liabity we have, but not the original fee. We might have our own insurance for something like that, but I don't think it's common. It's clear from Slutsky's comments last night, that Mason himself defitely wants to play again, but it was equally clear that there's big hurdles still to overcome and there's no way his return anytime soon.
