davenportram Posted February 16, 2017 Share Posted February 16, 2017 11 minutes ago, mrdave85 said: Have ours been published? When are they due if not? Ours are due to be submitted before 31st March. Link to comment Share on other sites More sharing options...
Animal is a Ram Posted February 16, 2017 Share Posted February 16, 2017 8 minutes ago, davenportram said: "Therefore the Director acknowledges a material uncertainty in the event the Company's ultimate beneficial owner becomes unwilling at any time to continue to provide funding support to the business to the general level that it previously provided. "It should be noted that there are management initiatives that can be pursued to mitigate any potential funding shortfall including the sale of players and other business assets." thr above quote seems seems to be saying that if Fawaz wants out and they go into a administration the club will survive after being stripped of assets. I'd be amazed if they can claw back c£83m from assets, what other business assets does Forest have? The Academy, perhaps? They can't do anything with the ground.. Link to comment Share on other sites More sharing options...
Van der MoodHoover Posted February 16, 2017 Share Posted February 16, 2017 Just now, davenportram said: "Therefore the Director acknowledges a material uncertainty in the event the Company's ultimate beneficial owner becomes unwilling at any time to continue to provide funding support to the business to the general level that it previously provided. "It should be noted that there are management initiatives that can be pursued to mitigate any potential funding shortfall including the sale of players and other business assets." thr above quote seems seems to be saying that if Fawaz wants out and they go into a administration the club will survive after being stripped of assets. Only if the creditors vote to accept the package they are offered and write off all remaining debt. Happened to me when an investment went bad and I was a creditor. Link to comment Share on other sites More sharing options...
Mostyn6 Posted February 16, 2017 Share Posted February 16, 2017 Wonder how much of that 83m is owed to managers they have sacked Link to comment Share on other sites More sharing options...
Animal is a Ram Posted February 17, 2017 Share Posted February 17, 2017 18 hours ago, Mostyn6 said: Wonder how much of that 83m is owed to managers they have sacked All of it. To Billy Davies #unfinishedpayout Link to comment Share on other sites More sharing options...
G STAR RAM Posted February 18, 2017 Share Posted February 18, 2017 On 16/02/2017 at 12:40, Mostyn6 said: £135m + in debt?? yikes! The debt is £80m. The loans from Fawaz and family is already included in the debt figure quoted. Link to comment Share on other sites More sharing options...
G STAR RAM Posted February 18, 2017 Share Posted February 18, 2017 On 16/02/2017 at 14:46, Animal is a Ram said: I'd be amazed if they can claw back c£83m from assets, what other business assets does Forest have? The Academy, perhaps? They can't do anything with the ground.. Looking at the accounts they have circa £7m of assets plus the players. Link to comment Share on other sites More sharing options...
G STAR RAM Posted February 18, 2017 Share Posted February 18, 2017 On 16/02/2017 at 14:22, HantsRam said: 82.8m owed to unspecified creditors! Hope that they aren't doing a pompey and holding out on local businesses. Also - if any of that is to the hmrc vat people forest could easily be in deep do do The £82m includes the debt to Fawaz and co. They appear to have £15m of 'other loans', £2m to trade creditors (either for players or stocks), £4m to HMRC, then other little bits and bobs. Link to comment Share on other sites More sharing options...
Sith Happens Posted February 18, 2017 Share Posted February 18, 2017 They need to stop losing so much money to start with. The wage bill is a problem, esepcially for the squad they have. They really do need an approach like Derby did under clough, get the wage bill down to about 10 million, sell the players they can get some money for and start working on the debt, while trying to somehow stay up in the championship. Administration wont solve much when most of the debt it to Fawaz. Link to comment Share on other sites More sharing options...
Boycie Posted February 18, 2017 Share Posted February 18, 2017 Don't they still owe the Doughty Family money? Did they buy the club fully or wasn't some debt owed to his estate parked? Link to comment Share on other sites More sharing options...
Sith Happens Posted February 18, 2017 Share Posted February 18, 2017 10 minutes ago, Boycie said: Don't they still owe the Doughty Family money? Did they buy the club fully or wasn't some debt owed to his estate parked? I thought they wrote a large portion of it off as part of the sale. Which is what fawaz is ultimately going to have to do. Link to comment Share on other sites More sharing options...
Boycie Posted February 18, 2017 Share Posted February 18, 2017 1 minute ago, Paul71 said: I thought they wrote a large portion of it off as part of the sale. Which is what fawaz is ultimately going to have to do. I don't know mate, I'm sure there was something that went off, I thought the family was reluctant to write it off after the treatment he had received prior to his sad passing. Link to comment Share on other sites More sharing options...
Mostyn6 Posted February 18, 2017 Share Posted February 18, 2017 1 hour ago, G STAR RAM said: The debt is £80m. The loans from Fawaz and family is already included in the debt figure quoted. Really? That's not how it reads. Link to comment Share on other sites More sharing options...
G STAR RAM Posted February 18, 2017 Share Posted February 18, 2017 1 hour ago, Mostyn6 said: Really? That's not how it reads. I also read it like that but have checked the accounts and it's definitely includes in the £80m Link to comment Share on other sites More sharing options...
Sith Happens Posted February 18, 2017 Share Posted February 18, 2017 1 hour ago, Boycie said: I don't know mate, I'm sure there was something that went off, I thought the family was reluctant to write it off after the treatment he had received prior to his sad passing. Now you have mentioned it it does ring a bell, something along the lines they would not actively look to recoup the debt until the club was in a position to pay it back. Link to comment Share on other sites More sharing options...
G STAR RAM Posted February 18, 2017 Share Posted February 18, 2017 Surely the debt would have been reflected in the price paid by Fawaz to acquire the shares in the club? If money is still owed to the Doughty family it will be included in the £80m figure or will be owed personally by Fawaz rather than by the club. Link to comment Share on other sites More sharing options...
Sith Happens Posted February 18, 2017 Share Posted February 18, 2017 1 hour ago, G STAR RAM said: Surely the debt would have been reflected in the price paid by Fawaz to acquire the shares in the club? If money is still owed to the Doughty family it will be included in the £80m figure or will be owed personally by Fawaz rather than by the club. I don't know, you are probably right. Although look at how the Glazers financed the purchase of man utd. They actually put the club into massive debt to buy it, I never worked that out. Link to comment Share on other sites More sharing options...
Van der MoodHoover Posted February 18, 2017 Share Posted February 18, 2017 Just now, Paul71 said: I don't know, you are probably right. Although look at how the Glazers financed the purchase of man utd. They actually put the club into massive debt to buy it, I never worked that out. Very common in the corporate world - the dreaded "leveraged buy out". It's the tax efficient way to do it because interest on the debt gets tax relieved against profits in the parent company and if it all goes wrong it's the creditors who lose. Link to comment Share on other sites More sharing options...
G STAR RAM Posted February 18, 2017 Share Posted February 18, 2017 8 hours ago, G STAR RAM said: The £82m includes the debt to Fawaz and co. They appear to have £15m of 'other loans', £2m to trade creditors (either for players or stocks), £4m to HMRC, then other little bits and bobs. Looking further into this, the 'other loan' is money lead to the parent company NFFC Holdings. Link to comment Share on other sites More sharing options...
TigerTedd Posted February 18, 2017 Share Posted February 18, 2017 Oh dear forest. I've just noticed that if Burton win their game in hand, they'll leapfrog above you. Now who is their game in hand against?... oh, never mind, as you were. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.