RLACML Posted May 31, 2015 Share Posted May 31, 2015 It wasn't Mel Morris's decision to remove SM, and whilst he may be a large single investor the original ownership group still hold the majority between themSorry, but that proves absolutely nothing. If it was Morris really pushing for it, Rush is obviously not going to come out and say it. Link to comment Share on other sites More sharing options...
Tombo Posted May 31, 2015 Share Posted May 31, 2015 Sorry, but that proves absolutely nothing. If it was Morris really pushing for it, Rush is obviously not going to come out and say it.No but he certainly doesn't have the required share of the ownership to make the decision alone. He had to have some (if not all) of the backing of the North American ownership group. Link to comment Share on other sites More sharing options...
davenportram Posted May 31, 2015 Share Posted May 31, 2015 Sorry, but that proves absolutely nothing. If it was Morris really pushing for it, Rush is obviously not going to come out and say it.As Tombo points out It wasnt down to him alone and hed need others on his side to agree. Whenever you ave a lage group of people running somehting together you always get politics playing a role, maybe we will see more of this in the coming season. Link to comment Share on other sites More sharing options...
ramblur Posted May 31, 2015 Share Posted May 31, 2015 Not read the whole thread and only just watched the video. Some things I took from it It wasnt Mel Morris's decision to remove SM, and whilst he may be a large single investor the original ownership group still hold the majority between them Thats a hell of a lot of money and it appears the board expected more return on their investment considering we were top in March. The quotes are not direct lifts from the video but salient points that I noted when watching Did SR actually say between £10m and £20m a year was being invested,dav? The 13/14 accounts (Gellaw) state that after the year end £9.42m of funding had been received from Global Derby (UK) Ltd and transferred to the club.This doesn't mean that this was the extent of 14/15 funding,as more could have arrived in the period covering the date the Gellaw accounts were signed off to 30/6/15. Of course,say, £11m lies between £10m and £20m,so it could be a clever use of words.If investment between £10m and £20m doesn't land in 15/16,then the statement begins to look a bit dodgy,because I don't recall these levels in 13/14 or before. Link to comment Share on other sites More sharing options...
davenportram Posted May 31, 2015 Share Posted May 31, 2015 Did SR actually say between £10m and £20m a year was being invested,dav? The 13/14 accounts (Gellaw) state that after the year end £9.42m of funding had been received from Global Derby (UK) Ltd and transferred to the club.This doesn't mean that this was the extent of 14/15 funding,as more could have arrived in the period covering the date the Gellaw accounts were signed off to 30/6/15. Of course,say, £11m lies between £10m and £20m,so it could be a clever use of words.If investment between £10m and £20m doesn't land in 15/16,then the statement begins to look a bit dodgy,because I don't recall these levels in 13/14 or before.they were his exact words. Link to comment Share on other sites More sharing options...
ramblur Posted May 31, 2015 Share Posted May 31, 2015 they were his exact words.Perhaps "a year" means one year (14/15), because,seeing as 15/16 hasn't even arrived , they could hardly have invested in 15/16 yet. I don't really think they could count the £20m+ conversion of debt to equity in 13/14 as new investment,as the components of this debt would have been claimed as investment in prior years Link to comment Share on other sites More sharing options...
Alph Posted May 31, 2015 Share Posted May 31, 2015 It was what he said though. The investors invest a huge amount of money in this club. £10/20m per year. When he said it I thought that's a huge gap. Between 10 and 20?!? Link to comment Share on other sites More sharing options...
Tombo Posted May 31, 2015 Share Posted May 31, 2015 I'll give him the benefit of the doubt and say that it is a huge gap because the figure could fall anywhere in between that. Probably likely that the accounts next year will show something closer to £20m. Link to comment Share on other sites More sharing options...
ramblur Posted May 31, 2015 Share Posted May 31, 2015 It was what he said though. The investors invest a huge amount of money in this club. £10/20m per year. When he said it I thought that's a huge gap. Between 10 and 20?!? Of course "invest" is the present tense. I'd be amazed if 14/15 throws up something close to £20m in working capital.The only rider I'd add is that we don't know what happened to the £12m preference shares. If it turned out to be refinancing of stadium loan (as opposed to working capital funding),then it wouldn't be new money into the club.more a substitution of internal debt for external debt. Link to comment Share on other sites More sharing options...
ramblur Posted May 31, 2015 Share Posted May 31, 2015 I'll give him the benefit of the doubt and say that it is a huge gap because the figure could fall anywhere in between that. Probably likely that the accounts next year will show something closer to £20m.Not sure how something closer to £20m would allow us to comply with an FFP limit of £6m,unless it involved a large amount of debt swap.( or capital expenditure on tangible fixed assets) Link to comment Share on other sites More sharing options...
CornwallRam Posted May 31, 2015 Share Posted May 31, 2015 Of course "invest" is the present tense. I'd be amazed if 14/15 throws up something close to £20m in working capital.The only rider I'd add is that we don't know what happened to the £12m preference shares. If it turned out to be refinancing of stadium loan (as opposed to working capital funding),then it wouldn't be new money into the club.more a substitution of internal debt for external debt.Don't forget a lot of money has been spent on Moor Farm - floodlights, all weather pitch with undersoil heating and extra pitches with proper drainage, extra changing rooms and teaching rooms, extended car parking...I think someone even mentioned a therapeutic pool. That must have burned through several million. Link to comment Share on other sites More sharing options...
ramblur Posted May 31, 2015 Share Posted May 31, 2015 Don't forget a lot of money has been spent on Moor Farm - floodlights, all weather pitch with undersoil heating and extra pitches with proper drainage, extra changing rooms and teaching rooms, extended car parking...I think someone even mentioned a therapeutic pool. That must have burned through several million. If that lot cost anything approaching £10m,you might have a point (if overall investment approached £20m),as I'd find it hard to imagine that a working capital requirement, for normal operations, of much more than £10m would allow us to comply with FFP.The only other possibility I could see is one that involved paying nearly all of the hefty 14/15 transfer expenditure up front. Link to comment Share on other sites More sharing options...
ramblur Posted May 31, 2015 Share Posted May 31, 2015 On reflection,it would be churlish of me not to regard a (possible) debt exchange as a form of investment.Therefore,whatever purpose the £12m of preference shares served,it was an investment immediately falling in the £10m-£20m bracket in 14/15,with more added, and thus SR's statement looks to be ok. Link to comment Share on other sites More sharing options...
Gary Teale Posted May 31, 2015 Share Posted May 31, 2015 Don't forget a lot of money has been spent on Moor Farm - floodlights, all weather pitch with undersoil heating and extra pitches with proper drainage, extra changing rooms and teaching rooms, extended car parking...I think someone even mentioned a therapeutic pool. That must have burned through several million. Yes they have built a pool and the extra pitches. They are also building a futsal pitch. Moor farm is by far the facility compared to forest and Leicester. Link to comment Share on other sites More sharing options...
Alph Posted May 31, 2015 Share Posted May 31, 2015 Yes they have built a pool and the extra pitches. They are also building a futsal pitch. Moor farm is by far the facility compared to forest and Leicester. Don't they have to be graded for Cat 1 again or something? If they pass then we're Cat 1 for a few years? Link to comment Share on other sites More sharing options...
Ambitious Posted June 1, 2015 Share Posted June 1, 2015 Leicester are Cat 1, too. I don't know what their facilities are like though. Forest are still training out back of a bowling alley, so can only play in the duffer U21 and U18 league. Link to comment Share on other sites More sharing options...
Gary Teale Posted June 1, 2015 Share Posted June 1, 2015 Leicester are Cat 1, too. I don't know what their facilities are like though. Forest are still training out back of a bowling alley, so can only play in the duffer U21 and U18 league. Leicester's training ground is really poor compared to most around, I don't know what you need for Cat 1 but their changing rooms and family area etc are just portacabins. They have the same sort of indoor pitch as forest which is basically a dome over the top of a 3g pitch. They do have a 11 a side pitch though under cover, derbys indoor pitch isn't even a full size football pitch. Link to comment Share on other sites More sharing options...
sage Posted June 1, 2015 Share Posted June 1, 2015 What a bullsh1tter.A) It doesn't take 3 weeks to make this decision.B) We will have someone lined up alreadyC) It will affect our recruitment policy not having a manager/settled manager for 2 weeks.Hmm I wonder where Sam got his red head from during this interview. Link to comment Share on other sites More sharing options...
Shaftesbury Street Posted June 1, 2015 Share Posted June 1, 2015 Hmm I wonder where Sam got his red head from during this interview.I was thinking the same thing this morning, said this in another thread."Sam's recent interview ( after macs sacking) he was quite sun burnt and his interview this morning he looks fine. Makes me think he got things sorted prior to that "we're searching" interview.Well that or he's got some wicked aftersun." Link to comment Share on other sites More sharing options...
Dale The Ram Posted June 1, 2015 Share Posted June 1, 2015 Don't forget a lot of money has been spent on Moor Farm - floodlights, all weather pitch with undersoil heating and extra pitches with proper drainage, extra changing rooms and teaching rooms, extended car parking...I think someone even mentioned a therapeutic pool. That must have burned through several million. It was a hydrotherapy pool and gym. They are also having a teaching block built soon. This is the only thing I am #ITK about Link to comment Share on other sites More sharing options...
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