RichieB Posted February 26, 2015 Share Posted February 26, 2015 For them to be removed they have to be paid up in full. They have been removed and paid up in full. keep up Link to comment Share on other sites More sharing options...
Last_Great_Hope Posted February 26, 2015 Share Posted February 26, 2015 30 Million to inherit loan notes of 5.1 million and an overdraft of 1.6, he can't be a very good businessman if he thinks thats a good deal. The charges had to be removed to sell the club. For them to be removed they have to be paid up in full. Eh? Link to comment Share on other sites More sharing options...
Dagmeister Posted February 26, 2015 Share Posted February 26, 2015 (edited) The balance sheet indicates over £25m owed to creditors. It would be good if there is a poster out there with good knowledge of corporate accountancy who could shed some light on the 'net debt' figure as according to the explanatory the notes it doesn't seem to include some of the debts detailed in the balance sheet. Assuming Milan was telling the truth when he said we were losing £6m a year then a £25m debt wouldnt seem too surprising. That said; the position has changed since those accounts as indicated by the removal of the charges. The main concern now is how the new owner(s) run the club and its finances going forward. Edited February 26, 2015 by Dagmeister Link to comment Share on other sites More sharing options...
oldoldOwl Posted February 26, 2015 Share Posted February 26, 2015 I'm no accountant , but I read it as follows The total debt is about £27m that's made up from the current creditors of £12M and long term creditors of £15M ( page 20 of accounts) That doesn't mean you have to panic, it just means that to cover this years losses Milan will have had to pump in another 5m or whatever this years loss will be. there was no cash in the bank at the beginning of this FY. I'm guessing the share premium account is what Milan put in before this year so he will be in for £30M by now. if he made any profit on the time he was with us he deserved it. Link to comment Share on other sites More sharing options...
mattitheowl Posted February 26, 2015 Share Posted February 26, 2015 So basically from those accounts all I got is that our fans can't be arsed to turn up any more really. That's a bit sad. Just not bothered... Link to comment Share on other sites More sharing options...
Road Runner Posted February 26, 2015 Share Posted February 26, 2015 For them to be removed they have to be paid up in full. So we agree these have been paid up.... But you said why would someone pay 30 million to take these on - he hasn't. Link to comment Share on other sites More sharing options...
Last_Great_Hope Posted February 26, 2015 Share Posted February 26, 2015 So basically from those accounts all I got is that our fans can't be arsed to turn up any more really. That's a bit sad. I blame Big Guns. Link to comment Share on other sites More sharing options...
Guest Hamy33 Posted February 26, 2015 Share Posted February 26, 2015 So we agree these have been paid up.... But you said why would someone pay 30 million to take these on - he hasn't. They're going to inherit a minimum of 5 million per year losses unless they find a way of increasing revenues. Link to comment Share on other sites More sharing options...
mike312 Posted February 26, 2015 Share Posted February 26, 2015 So basically from those accounts all I got is that our fans can't be arsed to turn up any more really. That's a bit sad. That's how I read it. Also we have work to do off the field to get revenues up. Link to comment Share on other sites More sharing options...
mike84 Posted February 26, 2015 Share Posted February 26, 2015 They're going to inherit a minimum of 5 million per year losses unless they find a way of increasing revenues. A bargain compared to a large number of championship & league 1 clubs... Link to comment Share on other sites More sharing options...
bradowl Posted February 26, 2015 Share Posted February 26, 2015 They're going to inherit a minimum of 5 million per year losses unless they find a way of increasing revenues. A 5 million per year loss for 2 to 4 seasons won't be a big deal once we're in Premier league. In a promotion season gate receipts could easily bring in 350k per game. Link to comment Share on other sites More sharing options...
S36 OWL Posted February 26, 2015 Share Posted February 26, 2015 Lets see how the new guy(s) has (have) financed their transaction before giving it large. if it's hard cash then great but if they've borrowed the cash we'll be up poo poo creek in no time. Link to comment Share on other sites More sharing options...
IstillhateSteveBould Posted February 26, 2015 Share Posted February 26, 2015 A bargain compared to a large number of championship & league 1 clubs... Only 3 clubs in the championship made an operating profit last season apparently Link to comment Share on other sites More sharing options...
oldishowl Posted February 26, 2015 Share Posted February 26, 2015 They're going to inherit a minimum of 5 million per year losses unless they find a way of increasing revenues. This will be one of the "best" results in the championship. Last year we lost 3.7 m and only 3 clubs did better. Blackpool were the only one to turn a profit due to parachute payments. Link to comment Share on other sites More sharing options...
oldishowl Posted February 26, 2015 Share Posted February 26, 2015 Only 3 clubs in the championship made an operating profit last season apparently sorry. had not seen your post Link to comment Share on other sites More sharing options...
barmyowl1212 Posted February 26, 2015 Share Posted February 26, 2015 This is the reason there is non matchday corp revenue http://www.hillsboroughstadium.com/ Seperate company. Anyone know who owns it? Also if we got taken over wouldnt the debt currently stand at £0 Link to comment Share on other sites More sharing options...
Guest Hamy33 Posted February 26, 2015 Share Posted February 26, 2015 A 5 million per year loss for 2 to 4 seasons won't be a big deal once we're in Premier league. In a promotion season gate receipts could easily bring in 350k per game. So 30 million to buy the club 5-10 million losses assuming we get promoted within two years. 10 million on players and increased wages. They're gunna need some serious cash to pay for all that. Link to comment Share on other sites More sharing options...
bradowl Posted February 26, 2015 Share Posted February 26, 2015 So 30 million to buy the club 5-10 million losses assuming we get promoted within two years. 10 million on players and increased wages. They're gunna need some serious cash to pay for all that. NEW SKY SPORTS DEAL!!! Link to comment Share on other sites More sharing options...
RichieB Posted February 26, 2015 Share Posted February 26, 2015 So 30 million to buy the club 5-10 million losses assuming we get promoted within two years. 10 million on players and increased wages. They're gunna need some serious cash to pay for all that. Don't you think they know that? Of course it's going to take some serious cash to get to the prem, as it would at ANY other club, even more so at your club as its in division 3 STILL Link to comment Share on other sites More sharing options...
bradowl Posted February 26, 2015 Share Posted February 26, 2015 Only 3 clubs in the championship made an operating profit last season apparently And one of those got relegated. (Barnsley) Link to comment Share on other sites More sharing options...
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