What have foreigners got to do with it Dai?? Fact?? So no British owners have ever done anything wrong?? You do live in a very ancient world don't you! You again go on about how Cardiff is not run properly, but forgive what has happened in the past to your club. You sorted yourself out, and given time these owners have not given any reason to suggest they are not capable of sorting us out. I know you don't like foreigners, but that is your problem really.
Dozey Dai strikes again!!! "Why did they not clear the debt on day 1?" They were taking over from the Riddler. The least they could do was thoroughly audit the books to see what unadvised crap was to fall out of the woodwork and then deal with the Langstone debt which they have been doing with thorough due diligence while fending off Slippery Sam at the same time. If you think that could be done overnight you are even thicker than I give you no credit for being. Now stop winding us up and drag your sorry ass back to the Swansea board - if they will put up with you.
Thanks for your answer Sparkey, it was an honest question.... Just seems like you guys are stuck between a rock and a hard place.... give in and sell out or keep the pride and who knows.... All if it were me, I'd be happy if we could keep the history even go down to the L2 if we had too if that meant rebuilding the right way - although as you say, not sure if that is even an option.... I can't help from a rivalry perspective want to enjoy the digs as I'm sure we'd have it if it was the other way around, but all joke aside, hope it all works out and you guys can join us in the prem... I want a prem derby.....
I have a good feeling it will all work out. I think the figures being bandied about with reference to our debt are being sensationalised, as the vast majority of the debt is a commercial mortgage on the Stadium, and as i am very qualified to say. You make monthly payments on a mortgage until the debt is cleared. For those who do not understand what the term Mortgage actually means...Its 'Death Pledge'. Most of us have been involved in one of these pledges at one time or another as it is part of life. Should the Malaysians walk away, and assuming the Stadium is valued at more than the outstanding mortgage, re financing can take place to a maximum of 70% of the Stadium value. Therefore there are many ways of re jiggling a long term financial deal and perhaps this may be the better way of going about things. If truth be told, this is what the Malaysians want to do long term. They will secure all of the debt on the Asset. Have one monthly payment, which will then release much needed revenue for the club. Assuming a commercial loan for 70mill is arranged the approx monthly payment for that debt is £480,000 per month over 25 years. Working on those parameters you can all work out what the turnover has to be to get the club into profit. If the Council owned the Stadium they also would have to stump up similar payments over the above term. Therefore it is safe to assume that any council owned stadium, the local authority would have to charge a much higher monthly payment to satisfy the local council tax payers. Running a football team at Prem/Championship level is a very expensive venture, however the books can be balanced, and as we all know you can make capital overpayments on the loan to reduce the monthly payments at anytime. This you cannot do on a council owned stadium and you are then left to the mercy of your landlord.
I understood the offer to be to clear the debt and convert to equity in the club. I haven't read anywhere they were going to remortgage the ground to pay off the other debts. That is basically what the Gaziers did to MU (in saddling the debt onto the club rather than investing their own funds). I do understand the Glaziers were buying a PLC not sorting the debt issues of a Privately owned club they were already involved in. I have seen it stated in a few places (whether they are correct is another matter) that this proposal was not like the Glaziers in that the club would be left essential debt free .
Like i said in a different thread. You do not run a business for loss, there will be a 5, 7, 10 plan, we are at a juncture where something has to change, hence the re branding, which i though commendable. These people are not going to pump money into something that they didnt think that they could make a profit long term. Believe me even if they do pump in a huge amount of money in, they will want it back. I was just giving an example above on how it will probably done. By the way the figures are correct at 6.5% over 25 years, it will be something like this that they will have in mind. I am a business owner and i do not run the business for a loss or just to keep people employed, which many employed people cant get their heads aroung. IT is a Buisness that is all.
I agree that the money is put in for a reason. I believed the long term plan to be sort out the legacy of debt which is crippling the club, get to the Prem, stay there, increase the attendance and match day revenue via PL status, then float onto a far east stock exchange for a profit due to the massively increased value of the club.
This is so true. I had 3 businesses running and have successively closed them all. At one time I had over 70 employees spread across the three companies, and ploughed my own money (an awful lot of money!) into them when things got really tough in 2008. I came out of it with **** all return, even robbed and lost my own PPP to provide additional finance when the banks got cold feet - in other words, the bastards take away the umbrella when it starts to rain. The saddest thing about it all for me was that very few (I can think of only two) of those employees gave a flying **** about the personal financial efforts my family and I had made to keep their jobs. In fact, I was a right bastard for deciding I just couldn't invest any more to keep them going and had let them run down. I couldn't do any more without some hope of salvation or future for the concerns. For the above, read the attitude of some CCFC alleged supporters this past week over the Malaysians investment.
Sparkey, i really feel for you, i had to shut a company down in 2008, and then re-opened in 2009 and i now work from home and the people who work with me are all on a self employed basis, and guess what...Nobody is ever ill. Workforce can be very ungrateful, and like you i tried my very hardest to keep going, however the credit crunch came overnight for me (financial services) and everyone around us from packagers to suppliers and even the people where our commissions came from all went bust almost overnight. I had a very good workforce and all understood the consequences, but i didnt pay myself for over 6 months in the vain hope it will all get better. Some people have not got a scooby doo when it comes to business and think that a big hand comes out of the clouds and pays us money. Glad to say doing ok again now. So any economic improvement is a plus. As for our club, i cant see them pulling the plug just get as they have invested to much. Well lets hope so and i for one will back any of their ideas and more importantly marketing strategies. I hope the morons who understand nought keep thier dim minds and attitudes away.
Cheers ronny, and the best of luck to you pal. Glad to say I'm out of it now and also work from home on a consultancy basis - I'm not dependent too much on others and not at all on the bloody banks thank fck! I'm 55 this year and to be honest, don't need to go through that lot again. My family and I are comfortable now with the way things have panned out - in fact, through some decent forward planning when it was clear the **** was going to hit the fan in 2008/09, I don't give a toss. I intend to early-drawdown some decent pension funds on my 55th, and from that point on, bollucks to it. With just one exception for whom we're doing all we can, the family are all in good health - that's all that matters now. Once again to be honest, I'm really enjoying myself working from home after over 30 years running up and down the country just to please customers and ultimately keep my then employees in work. Of course, a decent outcome from VT/TG and City will make it even better..........
I know what Sparkey and Ronny mean and understand it. I also hope the morons who made the racist comments and personal attacks stay away from all forms of communication with regard to the board and their plans.
there`s a big difference from small and huge companies tho yeah.........the biggest of business is ruining the world as we speak
What Coca Cola ? Serious. Look at Woolies they tried their hardest, this recession has done for small, medium and huge business's Aber. Its all well and good having workers rights (which i agree with wholeheartedly) however the workers have to earn those rights. I am a socialist at heart and hold those principles dearly, as i have always treated people who work for me with the greatest respect, and guess what, you can treat people really well and they still want more. People think it a god given right to a payrise even if the company profits/losses arent very healthy, and unfortunately this is where it often falls down.
BP and them types......scum firms walking over anyone that stands in its way. lets not talk about money anyway it leads 2 arguments...........its the devils right hand man
i agree with you aber. look up the US corporation pennsylvania power and lighting, and their subsidiary called western power distribution who are looking to **** over my area by building hundreds of houses on a local beauty spot. disgusting pieces of **** i feel sick whenever i see one of their vans.... but on topic the club cannot keep on losing £1m a month. the malaysians are astute and need new renevue streams to allow them to invest.....
