Popular Post Manwë Posted October 19, 2021 Popular Post Share Posted October 19, 2021 All this stems from our attempts to circumvent the rules that govern the game, but we did it in such an incompetent way that we a)got caught, b)got no reward and c) got a double punishment in the form of points deducted and losing the stadium as a long-term concern. We find ourselves a division below when he joined, with a stadium debt we keep kicking to the long grass and a points deduction hanging over our heads should we slip up again. The man should be nowhere near any British businesses whatsoever. 10 1 Link to comment Share on other sites More sharing options...
Sham67 Posted October 19, 2021 Share Posted October 19, 2021 11 hours ago, Maddogbob said: Actually I've just read the trust statement. That actually makes more sense to me now. Think I was a bit wrong. Long and short, if the loan isn't paid back next year, another company, not belonging to DC owns the stadium and they can charge whatever they like rent wise. (imagine fair market value), so that the buisness hemorrhaging yet more money, in the sense it's another cost. Which impacts everything. In essence, we've got a year to find it. So yes I'm concerned. As I'm not unduly sure old DC has it. People were saying this a year ago. Link to comment Share on other sites More sharing options...
Maddogbob Posted October 19, 2021 Share Posted October 19, 2021 46 minutes ago, ANDY said: so we could still be up Scheiße Straße then Potentially, but that's my interpretation. Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted October 19, 2021 Share Posted October 19, 2021 1 hour ago, Manwë said: All this stems from our attempts to circumvent the rules that govern the game, but we did it in such an incompetent way that we a)got caught, b)got no reward and c) got a double punishment in the form of points deducted and losing the stadium as a long-term concern. We find ourselves a division below when he joined, with a stadium debt we keep kicking to the long grass and a points deduction hanging over our heads should we slip up again. The man should be nowhere near any British businesses whatsoever. Sorry disagree on this one. Chansiri explained two things about this debt 1: it was an inherited debt. (before DCs tenure) 2: it had low level of interest The increase from last year supports point 2, no need for him to repay any time soon as low interest level. Only reason it's now attached to the stadium is due to covid and lender wanting more security. 2 Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted October 19, 2021 Share Posted October 19, 2021 13 hours ago, Maddogbob said: I don't know mate.I could be wrong. It might be worth going back to the original source to re read. For me there are two different loans. The one between swfc and S3 and this other one. I may be getting confused between the payments between S3 and Swfc. The third one now includes the stadium as collateral if it's not paid, from the looks of things. The stadium passes to the third party as an asset. Next year, if this isn't paid with the added interest. Because it's not been paid this year basically. The payments between Sheffield 3 and swfc for the stadium purchase are a notional paper exercise only, chansiri will only be paying the £6.7 million per year between the two via running down his directors loan account in swfc. For example Say swfc owes DC £60million Sheffield 3 (DC) pays swfc £6.7m loan payment DC then withdraws £6.7 million from SWFC and reduces loan account End result SWFC owes DC £52.3 million And repeat... This charge just looks to be security against the inherited debt Link to comment Share on other sites More sharing options...
Roscoe P. Coltrane Posted October 19, 2021 Share Posted October 19, 2021 13 hours ago, Maddogbob said: All boils down the front loading the buisness with multi year tickets for me. I got laughed at when I posted about front loading season ticket monies That was 5 years ago Look where that got us... 5 Link to comment Share on other sites More sharing options...
Guest mrbluesky Posted October 19, 2021 Share Posted October 19, 2021 WHAT'S NOT TO LIKE!?????????? Link to comment Share on other sites More sharing options...
Roscoe P. Coltrane Posted October 19, 2021 Share Posted October 19, 2021 21 minutes ago, wellbeaten-the-owl said: Sorry disagree on this one. Chansiri explained two things about this debt 1: it was an inherited debt. (before DCs tenure) 2: it had low level of interest The increase from last year supports point 2, no need for him to repay any time soon as low interest level. Only reason it's now attached to the stadium is due to covid and lender wanting more security. Hi Dej 1 3 Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted October 19, 2021 Share Posted October 19, 2021 Just now, Roscoe P. Coltrane said: Hi Dej Sorry but everything that was said about this by DC last year is 100% in line with what's happened this week. 1 Link to comment Share on other sites More sharing options...
Manwë Posted October 19, 2021 Share Posted October 19, 2021 22 minutes ago, wellbeaten-the-owl said: Sorry disagree on this one. Chansiri explained two things about this debt 1: it was an inherited debt. (before DCs tenure) 2: it had low level of interest The increase from last year supports point 2, no need for him to repay any time soon as low interest level. Only reason it's now attached to the stadium is due to covid and lender wanting more security. You don't know the interest rate based on the additional £200k on a £6.3m debt because you don't know what repayments have taken place. If you're paying off a debt but end the year in more debt then you're not paying off the debt, one way or the other. Link to comment Share on other sites More sharing options...
Guest Posted October 19, 2021 Share Posted October 19, 2021 7 minutes ago, Roscoe P. Coltrane said: I got laughed at when I posted about front loading season ticket monies That was 5 years ago Look where that got us... It was always going to be a risky strategy, boom or bust kind of approach paying for today with tomorrows money. Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted October 19, 2021 Share Posted October 19, 2021 On 29/09/2021 at 09:41, wellbeaten-the-owl said: Thoughts are a) the loan won't be repaid but rolled over for another year and b) the lender won't get Hillsborough. Link to comment Share on other sites More sharing options...
Roscoe P. Coltrane Posted October 19, 2021 Share Posted October 19, 2021 1 minute ago, wellbeaten-the-owl said: Sorry but everything that was said about this by DC last year is 100% in line with what's happened this week. REYT... Link to comment Share on other sites More sharing options...
Roscoe P. Coltrane Posted October 19, 2021 Share Posted October 19, 2021 Just now, wellbeaten-the-owl said: Because that's what successful business men do.. Link to comment Share on other sites More sharing options...
Guest Posted October 19, 2021 Share Posted October 19, 2021 2 minutes ago, wellbeaten-the-owl said: You are celebrating being right while the club has added another £200K to it's debts? Well done you but I am not sure how this can be seen as a positive. Link to comment Share on other sites More sharing options...
Sham67 Posted October 19, 2021 Share Posted October 19, 2021 11 minutes ago, hirstyboywonder said: You are celebrating being right while the club has added another £200K to it's debts? Well done you but I am not sure how this can be seen as a positive. The club haven’t added a penny to the debt. Sheffield 3 own the stadium and the debt. Link to comment Share on other sites More sharing options...
Guest Posted October 19, 2021 Share Posted October 19, 2021 10 minutes ago, Sham67 said: The club haven’t added a penny to the debt. Sheffield 3 own the stadium and the debt. Well yes, who owns Sheffield 3 Ltd? The same person that owns SWFC? How well do you think that person has run that business in terms of meeting financial obligations and does it fill you with great confidence that he will be able to keep on top of these payments as they keep increasing, because if not, he loses control of the stadium. Do you think it is good news that our owner has kicked a payment for the stadium down the road for another year at extra cost? Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted October 19, 2021 Share Posted October 19, 2021 32 minutes ago, Roscoe P. Coltrane said: REYT... How is it not? Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted October 19, 2021 Share Posted October 19, 2021 4 minutes ago, hirstyboywonder said: Well yes, who owns Sheffield 3 Ltd? The same person that owns SWFC? How well do you think that person has run that business in terms of meeting financial obligations and does it fill you with great confidence that he will be able to keep on top of these payments as they keep increasing, because if not, he loses control of the stadium. Do you think it is good news that our owner has kicked a payment for the stadium down the road for another year at extra cost? It's not a payment for the stadium, this has zero to do with the purchase of the stadium, DC doesn't have to pay 1p for the stadium purchase. Link to comment Share on other sites More sharing options...
SiJ Posted October 19, 2021 Share Posted October 19, 2021 If he can't afford to pay a 6.4 million pound loan off then we really are fooked. 1 Link to comment Share on other sites More sharing options...
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