owlinexile Posted July 19, 2011 Share Posted July 19, 2011 They seem to base the claim that we have a huge secret debt on the fact that we aren't splashing cash on players and are looking for cost savings eg by not having a reserve team. The real situation is that we have very little debt but we are not currently a profitable business and won't be until we are in a higher division. Link to comment Share on other sites More sharing options...
Guest TonyOwl88 Posted July 19, 2011 Share Posted July 19, 2011 As funny as that claim is, it is total nonsense. £96M? Look, as fun as the £57M is, it isn't really as straight forward as that. TO CLARIFY: Investors tend to leave dormant debts in the football clubs to cover their investments. (Holding loans). Because we were baught for such a knock-down price, ours will be the £10M Millan paid out for us and to SETTLE OUR DEBTS. My lack of real interest in the blunts means I couldn't really speculate on the size of their holding loan, but it is probably fair to say it is greater than ours. Also, they had about £10M they owe to Santandare, which the bank called in. They have to pay that back in the next 3 years. IN SHORT: We owe nothing in real terms, United owe £15M at a guess. Your piggy "friend" is simply fabrecating facts in order to combat the ridicule of his shitty club. Pay it no mind, and watch their financial activities for proof. P.S. You can't lose 10s of millions every year and expect the chairman not to cover his own arse. Link to comment Share on other sites More sharing options...
theowlsman Posted July 19, 2011 Share Posted July 19, 2011 I'm sorry, I had to neg that Of course you did, It's Owlstalk policy. Neg anything and everything I post. Keeps the punters happy! Link to comment Share on other sites More sharing options...
EcclesallOwl Posted July 19, 2011 Share Posted July 19, 2011 IN SHORT: We owe nothing in real terms, United owe £15M at a guess. . :laugh: They flipping wish! Link to comment Share on other sites More sharing options...
steelowl Posted July 19, 2011 Share Posted July 19, 2011 Really enjoying this embarrasing slap the barstewards have just had, but I couldn't care less if they acknowledge their debt or not. to me their denial will make the reckoning all the more sweet when the Sue era ends, because it will, and it will be messy Link to comment Share on other sites More sharing options...
edinburghowl Posted July 19, 2011 Share Posted July 19, 2011 They seem to base the claim that we have a huge secret debt on the fact that we aren't splashing cash on players and are looking for cost savings eg by not having a reserve team. The real situation is that we have very little debt but we are not currently a profitable business and won't be until we are in a higher division. Bingo. Link to comment Share on other sites More sharing options...
latemodelchild Posted July 19, 2011 Share Posted July 19, 2011 There's a few that claim we are in massive debt. Strange but nothing more than bullshine. The programme last night said they were 57m in debt. Most of that is to mcabe and Scarborough holdings etc. That figure is recentish I believe and since then he has converted some debt to shares, 17m I think. He has also taken ownership of the hotel. At best they are c40m in the hole. you them have to add on the amounts they have to find due to loss in revenue from relegation etc. That will be added to the total. Most clubs are losing money on a daily basis, that's the nature of football in the lower leagues and the amounts differ from club to club obviously. Either which way, their debt is bigger than ours ever was and unless mcabe takes a haircut, anyone wanting to buy their 'externally debt free club' is gonna have to spend 30m. This figure was quoted recently I believe. Somebody may take a punt on them, somebody did with us, but look at the river of poo poo we had to swim through first. They are just starting to dip their toes in the river. I hope it's as wide as ours was. Link to comment Share on other sites More sharing options...
TheBoyBeevers Posted July 19, 2011 Share Posted July 19, 2011 There's a few that claim we are in massive debt. Strange but nothing more than bullshine. The programme last night said they were 57m in debt. Most of that is to mcabe and Scarborough holdings etc. That figure is recentish I believe and since then he has converted some debt to shares, 17m I think. He has also taken ownership of the hotel. At best they are c40m in the hole. you them have to add on the amounts they have to find due to loss in revenue from relegation etc. That will be added to the total. Most clubs are losing money on a daily basis, that's the nature of football in the lower leagues and the amounts differ from club to club obviously. Either which way, their debt is bigger than ours ever was and unless mcabe takes a haircut, anyone wanting to buy their 'externally debt free club' is gonna have to spend 30m. This figure was quoted recently I believe. Somebody may take a punt on them, somebody did with us, but look at the river of poo poo we had to swim through first. They are just starting to dip their toes in the river. I hope it's as wide as ours was. I think McCabe is going to need a virtual headshave rather than a mere haircut. Another interesting thing here- United fans kicked up a fuss and called us debt welchers when the Co-Op wrote off about £10-15million of debt (anyone else remember the hysterical ramblings about fans moving their bank accounts elsewhere?!), but for a United takeover to go through, they are relying on McCabe writing off at least double that figure. Surely they will be equally 'disgusted' at their own club as they were with us for having their debt written down to ensure a takeover goes through? I'm sure that they will... Link to comment Share on other sites More sharing options...
wednesdaywizard Posted July 19, 2011 Share Posted July 19, 2011 Imagine what that reported £57m would be without the parachute payments and Tevez money. I pity them, I really do. Pity and Shame. That's all. Link to comment Share on other sites More sharing options...
Guest christheowl Posted July 19, 2011 Share Posted July 19, 2011 "U-N-I-T-E-D...that spells f*cking debt to me, with a Knick-Knack-Paddy-Wack give a dog a bone....Joe'y Sim is on the phone" Link to comment Share on other sites More sharing options...
musingowl Posted July 19, 2011 Share Posted July 19, 2011 I think McCabe is going to need a virtual headshave rather than a mere haircut. Another interesting thing here- United fans kicked up a fuss and called us debt welchers when the Co-Op wrote off about £10-15million of debt (anyone else remember the hysterical ramblings about fans moving their bank accounts elsewhere?!), but for a United takeover to go through, they are relying on McCabe writing off at least double that figure. Surely they will be equally 'disgusted' at their own club as they were with us for having their debt written down to ensure a takeover goes through? I'm sure that they will... Well we wouldn't be able to comment anyway because as many unitedites said when we were in trouble, we are all tax dodging scum who have cheated throughout our history and steal money from the children's hospital. How would we have the nerve to say anything against a club who "pays its own way". Link to comment Share on other sites More sharing options...
Road Runner Posted July 19, 2011 Share Posted July 19, 2011 Tell him to back his facts up with our accounts... Like we back SUFC debts up with SUFC accounts.. It's simple... Link to comment Share on other sites More sharing options...
owl-zat Posted July 19, 2011 Share Posted July 19, 2011 How hard is it. WE HAVE NO DEBT. Don't we owe the loan note holders money if and when we get back into the Premiership? Link to comment Share on other sites More sharing options...
Chris_B_SWFC Posted July 19, 2011 Share Posted July 19, 2011 Your mate at work is a tool. End of. Link to comment Share on other sites More sharing options...
mirodo Posted July 19, 2011 Share Posted July 19, 2011 Don't we owe the loan note holders money if and when we get back into the Premiership? Yeah, but as things stand, we have no debt. I'll happily take having to pay out a few mil to the coffin-dodgers if it means we get back where we belong. Link to comment Share on other sites More sharing options...
Guest scott_andrew_william Posted July 19, 2011 Share Posted July 19, 2011 I want Sheffield United to default. Link to comment Share on other sites More sharing options...
rob1601 Posted July 19, 2011 Share Posted July 19, 2011 Actually, we're in profit because I owe Wednesday, Wednesday I owe. I owe silver lining???? Link to comment Share on other sites More sharing options...
Rodger Wylde Posted July 19, 2011 Share Posted July 19, 2011 I think the point with them is that, how ever much the debt is, they dont count it as such because its not owed to a bank or instiitution but owed to Mr McCabe/Scarborough Holdings etc. so they bleat on about how the Football Club itself is in no debt at all! And with their thinking he is a 'Blade' and one of them, then the £57m or whatever figure it is, is equivalent to borrowing a fiver off a mate. It just deosnt count. Link to comment Share on other sites More sharing options...
theowlsman Posted July 19, 2011 Share Posted July 19, 2011 I owe silver lining???? If I deserve a neg for my pun, so do you, but as I'm nicer than the miserable tvvats on here. I'll give you a +1 instead. Link to comment Share on other sites More sharing options...
jonnyowl Posted July 19, 2011 Share Posted July 19, 2011 It does make me laugh when the pigs try and have a debate about debt. Mandaric is a business man, what ever he puts into the owls he will only get back if we become sucessful i.e in the Premiership. He bought us for £1 but then paid roughly £7m to clear the debt. He has since put money in for transfers and subsidising the wage budget as well as paying off smaller creaditors. I would think he has put in around £11m but he did say missing out on promotion last season will cost him another £4m. If he invests £40m and we make it to the Premiership and he sells us for £80m then he has doubled his money it's not like we will still owe him the £40m. The blades are in a much worse situation. £57m in debt to Mcacbe, he wants to sell for £30m and keep Bramhall Lane to cover the rest he is owed. No one will ever pay that until they are premiership bound and that is a long way off! Link to comment Share on other sites More sharing options...
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