Guest Grandad Posted February 21, 2021 Share Posted February 21, 2021 The legal charge is a matter of public record Link to comment Share on other sites More sharing options...
Animis Posted February 21, 2021 Share Posted February 21, 2021 2 minutes ago, mkowl said: It said paid over 8 years so I guess 7.5m a year But the rent the other way would offset the loan repayment presumably. Have you seen a copy of the lease? Link to comment Share on other sites More sharing options...
Dizzys Dad Posted February 21, 2021 Share Posted February 21, 2021 If Chansiri offered me £100m to take the club over, I’d tell him to f**k right off. The chances of getting a buyer, to agree a deal to buy the club, with this guy are ZERO. Link to comment Share on other sites More sharing options...
sage owl Posted February 21, 2021 Share Posted February 21, 2021 42 minutes ago, PARKOWL said: So in affect if chansiri lost the club and didn’t keep up repayments on the ground then the finance company would be free to make a deal with any potential new owner of the club What if the finance company is owned wholly by chansiri ?. Link to comment Share on other sites More sharing options...
Essix Blue Posted February 21, 2021 Share Posted February 21, 2021 Just now, sage owl said: What if the finance company is owned wholly by chansiri ?. Hang on. Why would Chansiri loan money to his company that owns the ground? That really doesn’t make sense Link to comment Share on other sites More sharing options...
sage owl Posted February 21, 2021 Share Posted February 21, 2021 4 minutes ago, Essix Blue said: Hang on. Why would Chansiri loan money to his company that owns the ground? That really doesn’t make sense Not much makes sense with this regime. He / they seem obsessed with fiddling their way around the rules instead of implementing a real sustainable plan. 2 Link to comment Share on other sites More sharing options...
Animis Posted February 21, 2021 Share Posted February 21, 2021 3 minutes ago, sage owl said: What if the finance company is owned wholly by chansiri ?. It's different - New Avenue Projects - one director - Richard Weiss, but family split ownership. Based in Surrey. Link to comment Share on other sites More sharing options...
Guest mkowl Posted February 21, 2021 Share Posted February 21, 2021 13 minutes ago, Animis said: Have you seen a copy of the lease? Nope - the 7.5m was simply from the accounts in 2018. The total was 60m and it was disclosed that 7.5m was payable in one year and the rest in equal annual instalments. That is part A Part B is that SWFC owes S3 for rent. I have no idea what that rent is. There are clues within the EFL appeal legal shizzle that the valuation of 60m was derived from a rental yield calculation. So its been suggested the rent will be in the region of 4m a year to achieve that. The two will be offset so S3 has to contribute a net 3.5m in cash. Let's not forget real cash will have to be going in. There is no shuffling the chairs - its real money. The delays in getting that in are why the players are late being paid Link to comment Share on other sites More sharing options...
sage owl Posted February 21, 2021 Share Posted February 21, 2021 2 minutes ago, Animis said: It's different - New Avenue Projects - one director - Richard Weiss, but family split ownership. Based in Surrey. Fair enough didn’t know that, mine was just a hypothetical question trying to highlight how ludicrous the whole situation is. Link to comment Share on other sites More sharing options...
Guest mkowl Posted February 21, 2021 Share Posted February 21, 2021 1 minute ago, Animis said: It's different - New Avenue Projects - one director - Richard Weiss, but family split ownership. Based in Surrey. This is supposedly debt DC inherited from the MM era - not new debt. They got nervous about the stadium being moved ownership wise so demanded a charge be registered against the asset, but the lending was to Sheffield Wednesday Football Club. That is what DC stated in the recent Q & A. New Avenue Projects look like the broker not the actual lender, nowt much in the actual accounts of that entity Link to comment Share on other sites More sharing options...
matthefish2002 Posted February 21, 2021 Share Posted February 21, 2021 A lot of this legal stuff goes over my head with the ground ownership etc. I worry though that people with multi year season tickets might be in danger of losing their money if we went into Administration. 1 Link to comment Share on other sites More sharing options...
Essix Blue Posted February 21, 2021 Share Posted February 21, 2021 2 minutes ago, mkowl said: This is supposedly debt DC inherited from the MM era - not new debt. They got nervous about the stadium being moved ownership wise so demanded a charge be registered against the asset, but the lending was to Sheffield Wednesday Football Club. That is what DC stated in the recent Q & A. New Avenue Projects look like the broker not the actual lender, nowt much in the actual accounts of that entity So it’s possible there’s 2 loans secured against the ground. The old one that you mention and the new one DC took out? Link to comment Share on other sites More sharing options...
Animis Posted February 21, 2021 Share Posted February 21, 2021 6 minutes ago, mkowl said: Nope - the 7.5m was simply from the accounts in 2018. The total was 60m and it was disclosed that 7.5m was payable in one year and the rest in equal annual instalments. That is part A Part B is that SWFC owes S3 for rent. I have no idea what that rent is. There are clues within the EFL appeal legal shizzle that the valuation of 60m was derived from a rental yield calculation. So its been suggested the rent will be in the region of 4m a year to achieve that. The two will be offset so S3 has to contribute a net 3.5m in cash. Let's not forget real cash will have to be going in. There is no shuffling the chairs - its real money. The delays in getting that in are why the players are late being paid Indeed this is what was suggested in the appeal hearing notes - 30 year term @ £3m per annum as part of the fag-packet HoTs that were suggested to the EFL. I've not seen any evidence of this to date Link to comment Share on other sites More sharing options...
theowlsman Posted February 21, 2021 Share Posted February 21, 2021 Please don’t anyone put administration on a pedestal as something to look forward to. If that’s all we might have to look forward to, it’s time for the carving knife to the wrists. *Grabs a plastic knife instead for graphic representation but without the risk* Link to comment Share on other sites More sharing options...
Derick Mills Posted February 21, 2021 Share Posted February 21, 2021 38 minutes ago, Itchy said: Can’t see anybody taking Wednesday into administration other than HMRC , and that would be for employers national insurance contributions and employees contributions and income tax which they are responsible for collecting. It comes to nearly whopping 50 percent of the players income although Wednesday are on directly responsible for 12.8 % they still have to fined the cash when there is very little income. I don't know much about admin but couldn't the season ticket holders do it for none payment ? Link to comment Share on other sites More sharing options...
wakefieldowl Posted February 21, 2021 Share Posted February 21, 2021 I maybe wrong as ive lost nearly all interest in football, but didnt think chansiris bank balance is the promble. I think hed love to spend lots and get a good manager and players. Its ffp that wont allow us to spend Link to comment Share on other sites More sharing options...
Guest mkowl Posted February 21, 2021 Share Posted February 21, 2021 14 minutes ago, Essix Blue said: So it’s possible there’s 2 loans secured against the ground. The old one that you mention and the new one DC took out? There is no evidence DC has taken out a loan Link to comment Share on other sites More sharing options...
Guest mkowl Posted February 21, 2021 Share Posted February 21, 2021 11 minutes ago, Animis said: Indeed this is what was suggested in the appeal hearing notes - 30 year term @ £3m per annum as part of the fag-packet HoTs that were suggested to the EFL. I've not seen any evidence of this to date I think that is the best clue we have. Mine is 4m at a multiple of 15 about a 6.5% yield. The accounts may give a clue but won't hold my breath Link to comment Share on other sites More sharing options...
Essix Blue Posted February 21, 2021 Share Posted February 21, 2021 5 minutes ago, mkowl said: There is no evidence DC has taken out a loan Hasn’t grandad posted it? Link to comment Share on other sites More sharing options...
Weshallovercome Posted February 21, 2021 Share Posted February 21, 2021 49 minutes ago, Grandad said: The legal charge is a matter of public record It's good to know Linklaters at least is a real company, I feel so much better now. Link to comment Share on other sites More sharing options...
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