ChinaOwl Posted May 18, 2019 Share Posted May 18, 2019 (edited) 12 minutes ago, MallorcaOwl said: DC is the sole owner of SWFC, that includes the ground, he employs all of the staff, including the contracted players. There are no shareholders. In effect DC is setting up another company that he will be the sole owner of, he will sell the ground to that company, nothing changes in terms of who really owns the ground. If DC wanted to sell SWFC including the ground he can It is probably wasting my breath but I will have another go. The ground and the facilities have ownership certification. As things stand now, the name on the titles is SWFC Limited and not DC. What DC is buying the ownership titles from the company himself so the name on the deeds changes. DC owns 100% of the shares in SWFC Limited so he has the right to make all of the business decisions and he can sell the club with the ground (or separately). But, if he were to leave the club right now, the ownership of the ground and facilities would still be SWFC Limited and NOT Chansiri. Edited May 18, 2019 by ChinaOwl Link to comment Share on other sites More sharing options...
metaframe Posted May 18, 2019 Share Posted May 18, 2019 Not sure taking out a few wonga loans makes one an expert in corporate refinancing. Link to comment Share on other sites More sharing options...
dorian gray Posted May 18, 2019 Share Posted May 18, 2019 On 17/05/2019 at 09:20, Sham67 said: 50+ pages. what in 48 hours? Link to comment Share on other sites More sharing options...
dorian gray Posted May 18, 2019 Share Posted May 18, 2019 (edited) On 17/05/2019 at 09:52, legendaryswan said: Wonder when DCs going to tell us officially....... Id expect the powers that be to shut this loophole pretty quickly how can they allow former premier sides to have a wheelbarrow full of 'hush' money, whilst 'RESTRICTING' sides already in the championship from attempting to compete with them on a 'MORE EVEN KEEL' than the present 'SWINDLE' the league is offering? Edited May 18, 2019 by dorian gray n Link to comment Share on other sites More sharing options...
heppers Posted May 18, 2019 Share Posted May 18, 2019 (edited) On 17/05/2019 at 09:24, jimbob 13 said: Huge gamble if true Yep. Almost like the last roll of the dice. Edited May 18, 2019 by heppers Link to comment Share on other sites More sharing options...
heppers Posted May 18, 2019 Share Posted May 18, 2019 2 hours ago, oldishowl said: Why are people still harping on about the last 3 years. That’s gone. The money spent, the near misses in the first two seasons are water under the bridge. Like any big project the decision point is now and last 3 seasons are sunk costs. So the decision is probably do we take punitive sanctions under FFP which could lead to relegation next season or do we “sell “ the ground. Take your pick. Sadly though it is a short term fix to a long term problem. As a club we are not financially viable. This puts money in the pot but if we don't get promotion we are in trouble. Link to comment Share on other sites More sharing options...
dorian gray Posted May 18, 2019 Share Posted May 18, 2019 the replies in this topic appear to fall into one of two opinions. either a) you can see the 'overall' picture with continued (limited allowed by the 'bent' league rules) spending year on year emptying the bank balance over a period of time whilst restricting our ability to compete on a (more even) keel? or b) you are looking at it 'small time' like selling off the front garden, garage, and conservatory of the house you live in, that's because dc lives in a far different world (financially) to us in general. Link to comment Share on other sites More sharing options...
kobayashi Posted May 18, 2019 Share Posted May 18, 2019 (edited) 1 hour ago, MallorcaOwl said: DC is the sole owner of SWFC, that includes the ground, he employs all of the staff, including the contracted players. There are no shareholders. In effect DC is setting up another company that he will be the sole owner of, he will sell the ground to that company, nothing changes in terms of who really owns the ground. If DC wanted to sell SWFC including the ground he can There is a shareholder it is DC and he doesn’t own the ground or employ anyone, SWFC ltd do. At the moment the assets and liabilities of the business are held by SWFC Ltd, if the ground is sold then the SWFC will have liabilities but a different company will own the asset. Edited May 18, 2019 by kobayashi Link to comment Share on other sites More sharing options...
heppers Posted May 18, 2019 Share Posted May 18, 2019 1 minute ago, kobayashi said: There is a shareholder it is DC buth he doesn’t own the ground or employ anyone, SWFC ltd do. At the moment the assets and liabilities of the business are held by SWFC Ltd, if the ground is sold then the SWFC will have liabilities but a different company will own the asset. Yes but we are swapping the asset which is the ground for an alternative asset which is cash. The problem is cash can be squandered. We have seen this. What happens in 3 years if we don't have promotion and the cash is gone and we have no ground? Link to comment Share on other sites More sharing options...
kobayashi Posted May 18, 2019 Share Posted May 18, 2019 Just now, heppers said: Yes but we are swapping the asset which is the ground for an alternative asset which is cash. The problem is cash can be squandered. We have seen this. What happens in 3 years if we don't have promotion and the cash is gone and we have no ground? There will be no cash. If it is done it will be “funded” by the loans to DC being offset against the asset sale price. However the liabilities are significantly greater than the asset value so what will be left will be fewer but still significant liabilities. Link to comment Share on other sites More sharing options...
Sham67 Posted May 18, 2019 Share Posted May 18, 2019 6 minutes ago, heppers said: Yes but we are swapping the asset which is the ground for an alternative asset which is cash. The problem is cash can be squandered. We have seen this. What happens in 3 years if we don't have promotion and the cash is gone and we have no ground? ? Link to comment Share on other sites More sharing options...
dorian gray Posted May 18, 2019 Share Posted May 18, 2019 6 minutes ago, heppers said: Yes but we are swapping the asset which is the ground for an alternative asset which is cash. The problem is cash can be squandered. We have seen this. What happens in 3 years if we don't have promotion and the cash is gone and we have no ground? it may not be 3 years, but whatever it is, he sells on, unless anything substantial has altered. Link to comment Share on other sites More sharing options...
Inspector Lestrade Posted May 18, 2019 Share Posted May 18, 2019 7 minutes ago, heppers said: Yes but we are swapping the asset which is the ground for an alternative asset which is cash. The problem is cash can be squandered. We have seen this. What happens in 3 years if we don't have promotion and the cash is gone and we have no ground? I'll buy it, so relax 1 3 Link to comment Share on other sites More sharing options...
Minton Posted May 18, 2019 Share Posted May 18, 2019 10 minutes ago, heppers said: Yes but we are swapping the asset which is the ground for an alternative asset which is cash. The problem is cash can be squandered. We have seen this. What happens in 3 years if we don't have promotion and the cash is gone and we have no ground? We will (or should) have a significant length lease agreement (West Ham for example, have a 99 year lease with the London Stadium) that also means that our yearly costs for the stadium (maintenance, repairs etc) are reduced as well. We are currently spending upwards of £5m on that, so we should be at least halving that cost 1 1 Link to comment Share on other sites More sharing options...
dorian gray Posted May 18, 2019 Share Posted May 18, 2019 8 minutes ago, heppers said: Yes but we are swapping the asset which is the ground for an alternative asset which is cash. The problem is cash can be squandered. We have seen this. What happens in 3 years if we don't have promotion and the cash is gone and we have no ground? play on our street like we used to, floodlit at night when the street lights were on, but beware of kicking it into mrs. markham's garden, she'll be out to nick the ball. 5 Link to comment Share on other sites More sharing options...
Ray Von shabba Posted May 18, 2019 Share Posted May 18, 2019 44 minutes ago, dorian gray said: play on our street like we used to, floodlit at night when the street lights were on, but beware of kicking it into mrs. markham's garden, she'll be out to nick the ball. Fond memories of those days. Link to comment Share on other sites More sharing options...
Essix Blue Posted May 18, 2019 Share Posted May 18, 2019 When we get promoted won’t SWFC simply buy the ground back? Link to comment Share on other sites More sharing options...
Inspector Lestrade Posted May 18, 2019 Share Posted May 18, 2019 17 minutes ago, ElsecarOwl said: Fond memories of those days. Were you on the same team then? Link to comment Share on other sites More sharing options...
markowl Posted May 18, 2019 Share Posted May 18, 2019 19 hours ago, 2roland2 said: You will find it, I ain’t doing your work for you because I’m not wasting time proving someone wrong who has zero idea, it’s friday night and I’m off for a beer.... So you hadn't been drinking earlier? 2 Link to comment Share on other sites More sharing options...
cognacbarnowl Posted May 18, 2019 Share Posted May 18, 2019 8 minutes ago, markowl said: So you hadn't been drinking earlier? Of course he hadn't been drinking earlier. He was just proving that Darwin's theory on the evolution of the species was flawed, FFS 2 Link to comment Share on other sites More sharing options...
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