davenportram Posted January 9, 2016 Share Posted January 9, 2016 taken from a daily mail article, direct quote from Mel Morris ‘But we are now debt-free apart from a £6.5m mortgage on the stadium, a large chunk of which is owned by me anyway, and we are close to being in great shape.." Link to comment Share on other sites More sharing options...
Boycie Posted January 9, 2016 Share Posted January 9, 2016 so only part of the ground is under mortgage? well it won't be the west stand, bet it's the south stand. Link to comment Share on other sites More sharing options...
Curtains Posted January 9, 2016 Share Posted January 9, 2016 We are in fantastic shape http://www.dailymail.co.uk/sport/football/article-3391087/Promised-land-sight-Derby-thanks-super-fan-chairman-Mel-Morris-boss-Paul-Clement-stride-elite.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490 Link to comment Share on other sites More sharing options...
Srg Posted January 9, 2016 Share Posted January 9, 2016 1 minute ago, Boycie said: so only part of the ground is under mortgage? well it won't be the west stand, bet it's the south stand. Bet it's that ******* Greggs. Knew we should have been higher class and gone for Birds. Link to comment Share on other sites More sharing options...
Curtains Posted January 9, 2016 Share Posted January 9, 2016 3 minutes ago, Boycie said: so only part of the ground is under mortgage? well it won't be the west stand, bet it's the south stand. West Stand rules ok. Link to comment Share on other sites More sharing options...
G STAR RAM Posted January 9, 2016 Share Posted January 9, 2016 Extremely good news. However let's not forget that most of the debt reduction was done under our previous owners. Although at least this shows that MM bought the club using cash rather than debt. Link to comment Share on other sites More sharing options...
davenportram Posted January 9, 2016 Author Share Posted January 9, 2016 7 minutes ago, G STAR RAM said: Extremely good news. However let's not forget that most of the debt reduction was done under our previous owners. Although at least this shows that MM bought the club using cash rather than debt. didn't the conversion of loans to the owners into equity happen after Mel had bought 20% of the club? My terminology could be wrong but still think he had a major role in that action taking place. Link to comment Share on other sites More sharing options...
G STAR RAM Posted January 9, 2016 Share Posted January 9, 2016 8 minutes ago, davenportram said: didn't the conversion of loans to the owners into equity happen after Mel had bought 20% of the club? My terminology could be wrong but still think he had a major role in that action taking place. You could well be right but I would have thought that GSE would have cleared their debt prior to MM buying his stake, complete guess work though. Link to comment Share on other sites More sharing options...
Day Posted January 9, 2016 Share Posted January 9, 2016 @ramblur Link to comment Share on other sites More sharing options...
Mafiabob Posted January 9, 2016 Share Posted January 9, 2016 8 minutes ago, Daveo said: @ramblur Could use the same call sign for Ronnie... Link to comment Share on other sites More sharing options...
davenportram Posted January 9, 2016 Author Share Posted January 9, 2016 22 minutes ago, G STAR RAM said: You could well be right but I would have thought that GSE would have cleared their debt prior to MM buying his stake, complete guess work though. turns out they did it a year before Mel bought in, during the year upto June 2013. http://m.bbc.co.uk/sport/football/26817533 Link to comment Share on other sites More sharing options...
Ram a lamb a ding dong Posted January 9, 2016 Share Posted January 9, 2016 It is down to the generosity of MM that we are in this position but dont underestimate what big Sam has done since he joined. The squad and outgoings were trimmed back during the Clough reign and then once Macca took over we kicked on. During the NC times GSE in my opinion did a fantastic job in stabilising us from the mess that they picked up. The anti US feelings from some of the fans at the time they were in charhe was bordering on scandalous. The Championship must be scratching their heads how we can spend £25M in 6 months and still be within FPL limits. Personally so do i and im not entirely sure how personal wealth can be used to the extent it has, however the income from the many revenue streams we have must be helping. Most probably the transfer fees have been stretched out so that we pay X amount upfront with the rest in installments; call it creative accounting. Either way its a great time to be a Rams fan and if we do go up I fully expect us to kick on and sign some top players and not just make up the numbers. No doubt subsidised by Mel but with the mega bucks TV money helping also. Link to comment Share on other sites More sharing options...
davenportram Posted January 9, 2016 Author Share Posted January 9, 2016 1 hour ago, Ram a lamb a ding dong said: It is down to the generosity of MM that we are in this position but dont underestimate what big Sam has done since he joined. The squad and outgoings were trimmed back during the Clough reign and then once Macca took over we kicked on. During the NC times GSE in my opinion did a fantastic job in stabilising us from the mess that they picked up. The anti US feelings from some of the fans at the time they were in charhe was bordering on scandalous. The Championship must be scratching their heads how we can spend £25M in 6 months and still be within FPL limits. Personally so do i and im not entirely sure how personal wealth can be used to the extent it has, however the income from the many revenue streams we have must be helping. Most probably the transfer fees have been stretched out so that we pay X amount upfront with the rest in installments; call it creative accounting. Either way its a great time to be a Rams fan and if we do go up I fully expect us to kick on and sign some top players and not just make up the numbers. No doubt subsidised by Mel but with the mega bucks TV money helping also. EMT did a story last night. That £25m is the total including appearance clauses etc. In this accounting period only the initial payment counts for FFP, the rest is spread over the life of the contract. Most gave been for 3years or so. So if we've paid 1/3 upfront that's £8m this year. The rest would be spread over the remaining 2 years of the contracts so another £8m each year. It doesn't sound that bad now. Its all in the structuring of the payments. Link to comment Share on other sites More sharing options...
Gritstone Ram Posted January 9, 2016 Share Posted January 9, 2016 4 minutes ago, davenportram said: EMT did a story last night. That £25m is the total including appearance clauses etc. In this accounting period only the initial payment counts for FFP, the rest is spread over the life of the contract. Most gave been for 3years or so. So if we've paid 1/3 upfront that's £8m this year. The rest would be spread over the remaining 2 years of the contracts so another £8m each year. It doesn't sound that bad now. Its all in the structuring of the payments. The wage bill must have gone up too. Link to comment Share on other sites More sharing options...
eddie Posted January 9, 2016 Share Posted January 9, 2016 1 hour ago, Mafiabob said: Could use the same call sign for Ronnie... Because they are both completely bats? Link to comment Share on other sites More sharing options...
Zag zig Posted January 9, 2016 Share Posted January 9, 2016 10 minutes ago, Gritters said: The wage bill must have gone up too. No doubt our revenue stream increases have largely offset that. Don't you find it very kind of Rupert to subsidise our promotion bid - may become even more popular, can't see Leeds getting too many more home games. Link to comment Share on other sites More sharing options...
Gritstone Ram Posted January 9, 2016 Share Posted January 9, 2016 2 minutes ago, Zag zig said: No doubt our revenue stream increases have largely offset that. Don't you find it very kind of Rupert to subsidise our promotion bid - may become even more popular, can't see Leeds getting too many more home games. Yes has the tv money gone up this year? There seems to be more games on sky. I assume we get an extra £100k per home game on tv which i think we've had 3 so far. £300k isn't a lot when you think how much johnson, shackle, bent and ince must be on. Mind you they saved a hell of a lot in bonuses last year. Link to comment Share on other sites More sharing options...
CornwallRam Posted January 9, 2016 Share Posted January 9, 2016 2 hours ago, G STAR RAM said: Extremely good news. However let's not forget that most of the debt reduction was done under our previous owners. Although at least this shows that MM bought the club using cash rather than debt. I'd just like to point out at the time that the League of Gentlemen (fronted by Gadsby, but also including Mel) bought the club the debt was over £50m (some reports reckoned £60m), when it was sold to the GSE consortium it was down to £31m. If the debt was really reduced to the loan secured on the stadium c£15m, then GSE reduced the debt by an impressive £16m. However, the LoG reduced it by £19m. Those who say that the club was in a mess when Appleby etc took over don't paint the whole picture. The playing squad was a mess before GSE got here, but their initial input made it far worse. Offield, the finances were already heading in the right direction and GSE, after initially making things worse by trying to fund an immediate bounce back, really brought things under tight control. In hindsight, I'd say we've been extremely fortunate with our last three owners. The LoG took us from the brink of disaster and stabilised us. GSE then streamlined the club and made the whole thing more professional - and brought in the ever impressive Sam Rush. Mel has subsequently built on the already strong foundations and is making us competitive. Link to comment Share on other sites More sharing options...
loweman2 Posted January 9, 2016 Share Posted January 9, 2016 2 hours ago, curtains said: West Stand rules ok. yes I should say so !! the money we West standers put into the club from our season tickets is obviously keeping us in this fantastic shape as we are considerably more wealthy than the bus stop standers !!! Link to comment Share on other sites More sharing options...
Duracell Posted January 9, 2016 Share Posted January 9, 2016 "People see me, and they see the suit, and they go: "you're not fooling anyone", they know I'm rock'n'roll through and through. But you know that old saying, live fast, die young? Not my way. Live fast, sure - live too bloody fast sometimes! - but die young? No....die old." Link to comment Share on other sites More sharing options...
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