S36 OWL Posted October 18, 2021 Share Posted October 18, 2021 The rollover is either because Chansiri cannot repay the loan in full so has refinanced it, or he sees it as cheaper to just keep paying an interest charge (the 200k). If its the former we should be concerned about his ability to keep on paying the wages. Link to comment Share on other sites More sharing options...
Guest Posted October 18, 2021 Share Posted October 18, 2021 41 minutes ago, hirstyboywonder said: Sheffield 3 Ltd own the ground, Sheffield 3 is owned by Chansiri, the charge is between Avenue Projects & Sheffield 3 Ltd. Here's the trust view on the matter from around the time news of the deal broke: https://www.swfctrust.co.uk/blog/hillsborough-stadium-ownership Good read that to be fair, I hold my hands up to the fact I ain’t financially switched on and do not understand the most of this carry on though What was this £6.4m used for ? To secure the ground for Sheffield 3 (Chansiri) ? I still also don’t really understand all the flapping about having lost the ground when all that’s really happened is it’s transferred to a company owned by the same man who outright owns the club ? How has the club lost the ground ? What’s DC gonna do ? Lock himself out Link to comment Share on other sites More sharing options...
S36 OWL Posted October 18, 2021 Share Posted October 18, 2021 Just now, Royal_D said: Good read that to be fair, I hold my hands up to the fact I ain’t financially switched on and do not understand the most of this carry on though What was this £6.4m used for ? To secure the ground for Sheffield 3 (Chansiri) ? I still also don’t really understand all the flapping about having lost the ground when all that’s really happened is it’s transferred to a company owned by the same man who outright owns the club ? How has the club lost the ground ? What’s DC gonna do ? Lock himself out Technically Chansiri does not now have the deeds to Hillsbro. They are held as security on this loan. 1 Link to comment Share on other sites More sharing options...
Maddogbob Posted October 18, 2021 Share Posted October 18, 2021 (edited) 3 minutes ago, Royal_D said: Good read that to be fair, I hold my hands up to the fact I ain’t financially switched on and do not understand the most of this carry on though What was this £6.4m used for ? To secure the ground for Sheffield 3 (Chansiri) ? I still also don’t really understand all the flapping about having lost the ground when all that’s really happened is it’s transferred to a company owned by the same man who outright owns the club ? How has the club lost the ground ? What’s DC gonna do ? Lock himself out The the ownership of Hillsborough passes to the lender if DC fails to make payment. The lender is a third party. Not DC. And it's 6.4 million per year, for a number of years. I think, it's not just a one off. Ergo, he dosn't pay, we lose the ground to a third party. Edited October 18, 2021 by Maddogbob 2 Link to comment Share on other sites More sharing options...
TrickyTrev Posted October 18, 2021 Share Posted October 18, 2021 Forgive my ignorance but as Chansiri owns the company that owns the stadium, why can’t he just take the money from one account and stick it in another account? He can always move it back at a later date and do the same thing again next year. No doubt it’s not as simple as this but I’m not really clued up on these sorts of things. Link to comment Share on other sites More sharing options...
Southie_Owl Posted October 18, 2021 Share Posted October 18, 2021 1 minute ago, TrickyTrev said: Forgive my ignorance but as Chansiri owns the company that owns the stadium, why can’t he just take the money from one account and stick it in another account? He can always move it back at a later date and do the same thing again next year. No doubt it’s not as simple as this but I’m not really clued up on these sorts of things. Don’t worry that’s how our owner feels about football. 7 Link to comment Share on other sites More sharing options...
Guest Posted October 18, 2021 Share Posted October 18, 2021 6 minutes ago, Maddogbob said: The the ownership of Hillsborough passes to the lender if DC fails to make payment. The lender is a third party. Not DC. And it's 6.4 million per year, for a number of years. I think, it's not just a one off. Ergo, he dosn't pay, we lose the ground to a third party. Fair play, so if he defaults on a 6.4m loan he loses an asset worth whatever Hillsborough is worth ? Link to comment Share on other sites More sharing options...
TrickyTrev Posted October 18, 2021 Share Posted October 18, 2021 1 minute ago, Southie_Owl said: Don’t worry that’s how our owner feels about football. So he knows about as much about it as me… great. 2 Link to comment Share on other sites More sharing options...
Maddogbob Posted October 18, 2021 Share Posted October 18, 2021 (edited) 3 minutes ago, Royal_D said: Fair play, so if he defaults on a 6.4m loan he loses an asset worth whatever Hillsborough is worth ? I think so. There are far better finance people on owlstalk, that understand deals like this than me though. That's just my basic understanding. While I understand it why he did it. For me effectively selling your home ground is never a good idea and history tells us that it normally dosn't end well for the club involved. It's always struck me as robbing Peter to pay Paul. Edited October 18, 2021 by Maddogbob 3 Link to comment Share on other sites More sharing options...
Spookone Posted October 18, 2021 Share Posted October 18, 2021 16 minutes ago, S36 OWL said: The rollover is either because Chansiri cannot repay the loan in full so has refinanced it, or he sees it as cheaper to just keep paying an interest charge (the 200k). If its the former we should be concerned about his ability to keep on paying the wages. Or he could have done it to help him be able to pay the wages? Link to comment Share on other sites More sharing options...
Manwë Posted October 18, 2021 Share Posted October 18, 2021 4 minutes ago, TrickyTrev said: So he knows about as much about it as me… great. Chansiri's talent is on the field matters, not off the field. That's why he employed a Senior Executive with one of the world's largest companies to be our CEO. Trust in Chansiri, he knows what he's doing. 3 Link to comment Share on other sites More sharing options...
Maddogbob Posted October 18, 2021 Share Posted October 18, 2021 1 minute ago, Spookone said: Or he could have done it to help him be able to pay the wages? He did this way before the covids was a thng. The ground "sale" was to loophole ffp. 2 Link to comment Share on other sites More sharing options...
Hirstyslaces Posted October 18, 2021 Share Posted October 18, 2021 16 minutes ago, S36 OWL said: Technically Chansiri does not now have the deeds to Hillsbro. They are held as security on this loan. Very concerning 2 Link to comment Share on other sites More sharing options...
S36 OWL Posted October 18, 2021 Share Posted October 18, 2021 14 minutes ago, TrickyTrev said: Forgive my ignorance but as Chansiri owns the company that owns the stadium, why can’t he just take the money from one account and stick it in another account? He can always move it back at a later date and do the same thing again next year. No doubt it’s not as simple as this but I’m not really clued up on these sorts of things. Maybe he hasn't got the money to repay the loan, hence kicking it down the road for another 12 months at the cost of 200k. Link to comment Share on other sites More sharing options...
Guest Posted October 18, 2021 Share Posted October 18, 2021 3 minutes ago, Maddogbob said: He did this way before the covids was a thng. The ground "sale" was to loophole ffp. that's what the ground sale was for. The news of the loan to a 3rd party came in Q3 2020, not COVID related but probably related to a short-fall in cash that was needed at the time, what else would a loan of that amount be taken for? Link to comment Share on other sites More sharing options...
Guest Posted October 18, 2021 Share Posted October 18, 2021 21 minutes ago, Maddogbob said: The the ownership of Hillsborough passes to the lender if DC fails to make payment. The lender is a third party. Not DC. And it's 6.4 million per year, for a number of years. I think, it's not just a one off. Ergo, he dosn't pay, we lose the ground to a third party. It's £6.4M or thereabouts for Sheffield 3 Ltd to pay SWFC for Hillsborough but as thigs stand the 3rd party charge was only taken for one year so far wasn't it? Link to comment Share on other sites More sharing options...
Hirstyslaces Posted October 18, 2021 Share Posted October 18, 2021 17 minutes ago, Maddogbob said: The the ownership of Hillsborough passes to the lender if DC fails to make payment. The lender is a third party. Not DC. And it's 6.4 million per year, for a number of years. I think, it's not just a one off. Ergo, he dosn't pay, we lose the ground to a third party. Extremely worrying details, but thanks to you and all those on here that have explained this in more detail. I admit that I am not the most financially astute and I'm not sure I really understood most of this. I have perhaps concentrated on the football side of things, hoping that this will all go away, if I'm honest........ Link to comment Share on other sites More sharing options...
Owl999 Posted October 18, 2021 Share Posted October 18, 2021 I don’t think Mr Chansiri has the funds to pay back the loan from any of his own money and I pretty sure whoever has been bank rolling him from his family have had enough of throwing good money after bad . 3 Link to comment Share on other sites More sharing options...
Maddogbob Posted October 18, 2021 Share Posted October 18, 2021 (edited) 24 minutes ago, hirstyboywonder said: It's £6.4M or thereabouts for Sheffield 3 Ltd to pay SWFC for Hillsborough but as thigs stand the 3rd party charge was only taken for one year so far wasn't it? I'll be honest, my understanding is the one I posted above, the S3 and swfc deal is separate and a bit smoke and mirrors. In my opinion. He's done the 3rd party deal to do the S3/swfc one. Using Hillsborough as collateral. As for the payments I'm sure they are for a number of years. Who that's between, why and how. I'll leave that to better informed people, who have a greater understanding. Edited October 18, 2021 by Maddogbob Link to comment Share on other sites More sharing options...
Maddogbob Posted October 18, 2021 Share Posted October 18, 2021 (edited) 25 minutes ago, Hirstyslaces said: Extremely worrying details, but thanks to you and all those on here that have explained this in more detail. I admit that I am not the most financially astute and I'm not sure I really understood most of this. I have perhaps concentrated on the football side of things, hoping that this will all go away, if I'm honest........ That's no fact mate, just how I understand it. I could be totally off. Edited October 18, 2021 by Maddogbob Link to comment Share on other sites More sharing options...
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