G STAR RAM

I'm sorry but I believe that this is factually incorrect, unless you have some evidence of what happened after 30 June 2018?

Yes and as Ive said before Sevco and Gellaw were the vehicles used by MM to purchase shares in DCFC and the ground. So MM may have put money into Sevco and Gellaw as a directors/shareholders loan, to provide the funds to purchase share capital, however, these amounts are not then owed by the company who's share capital has been purchased. From memory MM originally paid £50m for the shares, he then introduced another £100m in equity (displayed in the movement between 2015 and 2018 share capital per the accounts filed). He has then had to pay £80m for the ground (although I doubt the club will have ever received this). Total expenditure circa £230m which is coincidentally close to the amounts shown as creditors in Gellaw/Sevco. So in summary, KM was talking bollox when he said he wrote off £200m owed from the club, unless of course he loaned £200m to the club between 30/06/2018 and the date we went into administration, this on top of the other circa £50m of debt that he left is in at time of departure.

Not really the club didnt actually borrow any money, just didnt pay its debts. The only real external cash debt appears to have been the £23m MSD loan secured against a stadium valued at £81m.

His comment didnt say Mel Morris was owed £200m, it said something along the lines of fair play to The Melephant for writing off £200m owed to him by the club. Perhaps you could show me where these loans that you are talking about appear in the document below please?

They were loans made by MM or his other companies to Gellaw or Sevco, NOT to the football club. These companies were used to buy shares in the football club and the ground. Not sure what you are finding hard to understand about this? The Directors Statement of Affairs clearly states the creditors of the club at £36m of which claims of £2m were made. I'm assuming there was no need for the football creditors or HMRC to make claims given that these had to paid to avoid us losing our EFL membership.

Where were these loans to the club mentioned in the Directors Statement of Affairs pubished at Companies House then?

You forgot about Hedrick. £12m was it? So 6 years worth of running costs, plus the benefit of him playing for us for 3 or 4 seasons was it?

Really? The sales of Hughes and Hedrick will have covered the running costs for 3 years (as well as them being important members of a team that should have reached the Premier League). I daresay there are others that were snaffled whilst we were in admin that would have covered another few years of running costs.

Lets not get too carried away, the EFL also permitted our ground sale and amortisation policy and look how that ended 😂

Nah doesnt sound like the EFL, its more likely to be a rule that they haven't invented yet. My money is on it being that you're only allowed one winger with a double barrelled surname. (Just in case you're reading Couhig, this was a joke)

Yep, stats that won't be returned by a long ball team.

Spot on. You don't have 67% possession if you don't pass the ball. Some fans just have it stuck in their heads that we are a long ball team and won't budge from that misconception.

No don't forget, it wasn't Maguire, it was some journalists that he had been speaking to 😂 I'm genuinely embarrassed for him that, despite having all of the information infront of him that he has repeated this claim that he allegedly heard. I assume he will go on Twitter and clarify that his claim is complete unsubstantiated nonsense...

So nothing was owed to MM by the club, as Ive already stated. Sevco and Gellaw were the vehicles used for buying the ground and the share capital in DCFC. If you buy shares in a company they do not owe you that money.

There are facts available on Companies House in the administrators report, which he has even quoted. The administrators does not say there was £248,410,709 loaned to the club. The directors statement of affairs say there were creditors of £36m with only claims of £2m submitted in administration. MM may have been owed money by his other companies but nowhere is there anything that says he was owed in excess of £200m by our club...well other than these anonymous journalists that told our resident expert of course 😂

See my above post. I wouldn't say someone repeating what a couple of journalists allegedly told him, as someone who deals with facts, quite the opposite.

In the interests of fairness and transparency, here is the actual exchange of messages...

Not sure of many experts that make claims in their field of expertise and then when challenged on them blame it on journalists who's word they don't trust. Basically, he is no more of an expert in reading a set of accounts than any other accountant.

Obviously only do that by dm though, you wouldn't want too many people knowing you've been rumbled...

No there were not any loans of £200m by MM to the club which he wrote off, hence me pulling him up on it. If I lend £100 to my brother to buy Rolls Royce shares, then Rolls Royce dont owe me £100.

I've just had a bizarre personal message interchange here following me pulling him up on his Twitter post about the club owing MM in excess of £200m, which is demonstrably incorrect. His defence was that he was just repeating what some journalists had told him and he was skepitcal about the figure. I've pointed out that there is information available in the public domain which poo poos his claim and how amazed I am that a 'football finance expert' is making claims which he must know to be untrue if he actually has any understanding of the situation.

The £19m is in addition to the loan which appears to have been circa £24m. The £19m would have been made up of the circa £7m paid to HMRC, the football creditors, plus a little bit to the other creditors.

I like the poster celebrating their last minute equaliser and how it has derailed our play off push 😂

Nothing to do with the EFL, a player that has no cost will have no value in the accounts.

Yes but dont forget long balls and fast breaks are frowned upon...