Park Life 71 Posted August 25, 2009 Share Posted August 25, 2009 What a sad bunch Barclays are. Link to comment Share on other sites More sharing options...
Guest alex Posted August 25, 2009 Share Posted August 25, 2009 What a sad bunch Barclays are. Doesn't say much for the people attempting to take over though either, does it? £10m is peanuts in terms of the investment required. Link to comment Share on other sites More sharing options...
ewerk 30638 Posted August 25, 2009 Share Posted August 25, 2009 What a sad bunch Barclays are. The fuckers and their responsible lending. Link to comment Share on other sites More sharing options...
sweetleftpeg 0 Posted August 25, 2009 Share Posted August 25, 2009 Despite the shit we're in with Ashley, it does worry me that the new consortium are scraping every bit of penny and loan to make this deal go through. We'll be finaincially worse off but at least have some sort of plan and direction I suppose. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted August 25, 2009 Share Posted August 25, 2009 Where has the Beye, Bassong, Duff and Martins money gone then? Here was me foolishly thinking that was used to reduce the OD. It will have done. Then along came the wages. The wages the season before last were £1.34m per week. Given the players sold (the above plus Owen and Viduka and Given and Zoggy and Milner) and staff sacked at the end of the season, I think you can safely take that down to 800k these days. Saving £26m a season. With a £20m parachute payment, £24m from player sales, £880k a fornight from gate receipts (not to mention food and drink), 2 new strips etc. there's no reason whatsoever the current wage bill should be proving a stumbling block. It's very viable as it stands. Link to comment Share on other sites More sharing options...
Kitman 2207 Posted August 25, 2009 Share Posted August 25, 2009 It's heartening that we'd be going from a businessman who plainly can't afford to run the club to a businessman who plainly.....oh shit. Link to comment Share on other sites More sharing options...
Phil 6 Posted August 25, 2009 Share Posted August 25, 2009 I doubt £10m is the stumbling block, the reduction in overdraft from £40m to £10m would be a bigger issue. Link to comment Share on other sites More sharing options...
donaldstott 0 Posted August 25, 2009 Share Posted August 25, 2009 I doubt £10m is the stumbling block, the reduction in overdraft from £40m to £10m would be a bigger issue. They are one and the same, article suggests that the overdraft facility is £40m of which we are currently utilising £20m and Barclays have a limit for Championship clubs of £10m. Link to comment Share on other sites More sharing options...
NJS 4389 Posted August 25, 2009 Share Posted August 25, 2009 I doubt £10m is the stumbling block, the reduction in overdraft from £40m to £10m would be a bigger issue. They are one and the same, article suggests that the overdraft facility is £40m of which we are currently utilising £20m and Barclays have a limit for Championship clubs of £10m. This goes back to the "if he's struggling for a final 10m...." point - I do agree with the points made about someone who may have/has a clue rather than Ashley but it doesn't bode well for any signings in the next week. Link to comment Share on other sites More sharing options...
meshman 0 Posted August 25, 2009 Share Posted August 25, 2009 why cant someone else get involved with moat ?? ant n dec / shearer / shepard - all could afford some stake in there and surely all would prefer to do that instead of keeping crashley ?? Link to comment Share on other sites More sharing options...
trophyshy 7083 Posted August 25, 2009 Share Posted August 25, 2009 why cant someone else get involved with moat ??ant n dec / shearer / shepard - all could afford some stake in there and surely all would prefer to do that instead of keeping crashley ?? Because Moat is Ashley's puppet? Link to comment Share on other sites More sharing options...
dbsweeney 0 Posted August 25, 2009 Share Posted August 25, 2009 why cant someone else get involved with moat ??ant n dec / shearer / shepard - all could afford some stake in there and surely all would prefer to do that instead of keeping crashley ?? +1 My thoughts exactly. I don't buy into the Ashley/Moat cahoots thing. I'm paranoid ... but not that paranoid. Link to comment Share on other sites More sharing options...
Park Life 71 Posted August 25, 2009 Share Posted August 25, 2009 why cant someone else get involved with moat ??ant n dec / shearer / shepard - all could afford some stake in there and surely all would prefer to do that instead of keeping crashley ?? +1 My thoughts exactly. I don't buy into the Ashley/Moat cahoots thing. I'm paranoid ... but not that paranoid. © Parky Link to comment Share on other sites More sharing options...
dbsweeney 0 Posted August 25, 2009 Share Posted August 25, 2009 why cant someone else get involved with moat ??ant n dec / shearer / shepard - all could afford some stake in there and surely all would prefer to do that instead of keeping crashley ?? +1 My thoughts exactly. I don't buy into the Ashley/Moat cahoots thing. I'm paranoid ... but not that paranoid. © Parky I don't get it ... sorry. Link to comment Share on other sites More sharing options...
meshman 0 Posted August 25, 2009 Share Posted August 25, 2009 why cant someone else get involved with moat ??ant n dec / shearer / shepard - all could afford some stake in there and surely all would prefer to do that instead of keeping crashley ?? Because Moat is Ashley's puppet? cant be - otherwise there`d be none of this quibbling over 10m shirley ? Link to comment Share on other sites More sharing options...
Park Life 71 Posted August 25, 2009 Share Posted August 25, 2009 Got a spare 10m mate?? Link to comment Share on other sites More sharing options...
trophyshy 7083 Posted August 25, 2009 Share Posted August 25, 2009 why cant someone else get involved with moat ??ant n dec / shearer / shepard - all could afford some stake in there and surely all would prefer to do that instead of keeping crashley ?? Because Moat is Ashley's puppet? cant be - otherwise there`d be none of this quibbling over 10m shirley ? I think the quibbling is the loan being reduced to £10 mill. Neither Moat nor Ashley wants this to happen. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted August 25, 2009 Share Posted August 25, 2009 I doubt £10m is the stumbling block, the reduction in overdraft from £40m to £10m would be a bigger issue. They are one and the same, article suggests that the overdraft facility is £40m of which we are currently utilising £20m and Barclays have a limit for Championship clubs of £10m. This tallies up with my earlier thought that the overdraft was taken out up to the value of the squad in order to immediately recoup funds for Ashley following relegation, while also suggesting a drop in the asking price publicly. £40m overdraft minus £24m player sales leaves £16m....The £20m outstanding indicates £4m in running costs since relegation. Link to comment Share on other sites More sharing options...
The Fish 10858 Posted August 25, 2009 Share Posted August 25, 2009 Isn't a £16m debt, manageable? Link to comment Share on other sites More sharing options...
Happy Face 29 Posted August 25, 2009 Share Posted August 25, 2009 (edited) Isn't a £16m debt, manageable? Most definitely. I guess the rules Barclays have in place are so that clubs averaging 8k a game can't get into hock. You'd have thought they'd be a bit more malleable with a club that'll average 40k+ Edited August 25, 2009 by Happy Face Link to comment Share on other sites More sharing options...
Kitman 2207 Posted August 26, 2009 Share Posted August 26, 2009 £40m overdraft minus £24m player sales leaves £16m....The £20m outstanding indicates £4m in running costs since relegation. Wouldn't the 24m be paid in instalments though.....so 24m in player sales doesn't reduce the overdraft by 24m straightaway? Link to comment Share on other sites More sharing options...
Happy Face 29 Posted August 26, 2009 Share Posted August 26, 2009 £40m overdraft minus £24m player sales leaves £16m....The £20m outstanding indicates £4m in running costs since relegation. Wouldn't the 24m be paid in instalments though.....so 24m in player sales doesn't reduce the overdraft by 24m straightaway? I have no idea if that's still the policy. It only made sense when Ashley was our only creditor. Now that we're facing punitive interest payments, you'd have thought we'd demand entire fees up front to minimise that waste. Link to comment Share on other sites More sharing options...
khay 10 Posted August 26, 2009 Share Posted August 26, 2009 £40m overdraft minus £24m player sales leaves £16m....The £20m outstanding indicates £4m in running costs since relegation. Wouldn't the 24m be paid in instalments though.....so 24m in player sales doesn't reduce the overdraft by 24m straightaway? I have no idea if that's still the policy. It only made sense when Ashley was our only creditor. Now that we're facing punitive interest payments, you'd have thought we'd demand entire fees up front to minimise that waste. We might have tried but I very much doubt that what happened and many clubs would not have been willing to do that. Link to comment Share on other sites More sharing options...
Rob W 0 Posted August 26, 2009 Share Posted August 26, 2009 Isn't a £16m debt, manageable? Most definitely. I guess the rules Barclays have in place are so that clubs averaging 8k a game can't get into hock. You'd have thought they'd be a bit more malleable with a club that'll average 40k+ Barclay's Credit Committee will ask 1. How many clubs make a profit? 2. How many go bust?? 3. What is the track record of the buyer 4. What is our fallback - a mortgage on the ground (no), the players (no), ............................. 5. What will happen when the new guy takes over? More cash needed ???? Seriously - would you LEND to a football club? If we all would kick in £ 2,000 each (the price of a used motor) we could do it - but would you?????? Link to comment Share on other sites More sharing options...
Park Life 71 Posted August 26, 2009 Share Posted August 26, 2009 Summink will happen today. Link to comment Share on other sites More sharing options...
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