£10m FFP Bill

[Spanish]

2 minutes ago, ramblur said:

Very, very few. We couldn't even do it under the previous owners, who pared players' wages possibly as far as they dare.

with debt being so important to success/survival there must be a risk of a domino effect with transfer fees failing to be settled in full.  I think Villa owe £30m which would be effectively lost to related clubs if they failed.  Presumably there is a chance that debts like that could push some over the edge

[ramblur]

4 minutes ago, Spanish said:

with debt being so important to success/survival there must be a risk of a domino effect with transfer fees failing to be settled in full.  I think Villa owe £30m which would be effectively lost to related clubs if they failed.  Presumably there is a chance that debts like that could push some over the edge

All transfer fees go through the EFL, who then pass same onto the recipient clubs ( unless it's changed, which I doubt). They also deal with the VAT, to make sure that's paid over. I've a suspicion (though I don't know) that the EFL may be able to assist in the event of any defaults.

[Spanish]

48 minutes ago, ramblur said:

All transfer fees go through the EFL, who then pass same onto the recipient clubs ( unless it's changed, which I doubt). They also deal with the VAT, to make sure that's paid over. I've a suspicion (though I don't know) that the EFL may be able to assist in the event of any defaults.

I agree but I don't think the EFL underwrite the defaulted amount

[The Scarlet Pimpernel]

1 hour ago, ramblur said:

You were always one of the most sensible posters on here - nothing's changed here.

Thanks for all the posts over the years. You have provided an education for me and many others I'm sure. May I wish you well and hope you continue to enjoy our team in whatever way you can. A final UTR from me Ramblur.

[Carnero]

1 hour ago, ramblur said:

Thanks mate. Be wary of rogue articles, no matter how impressive the graphics might look, and be particularly wary of consolidated accounts. Mel could start up a loss making company manufacturing RamNut masks under the umbrella of Sevco 5112, but this would have little to do with the activities of the Club.

Ahh but, if the RamNut mask making company made profits of £200m, and paid dividends of £90m to SevCo 5112 who then repaid £90m to MM to pay off his loan, wouldn't that now make DCFC "debt free", even in the world of the knuckle draggers?

[ramblur]

57 minutes ago, Spanish said:

I agree but I don't think the EFL underwrite the defaulted amount

You're probably right.

[ramblur]

13 minutes ago, Carnero said:

Ahh but, if the RamNut mask making company made profits of £200m, and paid dividends of £90m to SevCo 5112 who then repaid £90m to MM to pay off his loan, wouldn't that now make DCFC "debt free", even in the world of the knuckle draggers?

The trouble is, some clown might then look at the consolidated accounts, tell everyone the Club was making massive profits, and ask why we weren't making big, big signings.

[ramblur]

1 hour ago, Spanish said:

I agree but I don't think the EFL underwrite the defaulted amount

If I were feeling up to it, I'd look up the EFL regs on transfer fees, but that kind of thing always gives me a headache now. It may be that inter club indebtedness takes priority in the event of a club getting into trouble ( not great news for small businesses, if that were the case).

[ramblur]

54 minutes ago, The Scarlet Pimpernel said:

Thanks for all the posts over the years. You have provided an education for me and many others I'm sure. May I wish you well and hope you continue to enjoy our team in whatever way you can. A final UTR from me Ramblur.

Many thanks, my friend. I hope you enjoy the coming season, and many more to come.

[Boycie]

2 hours ago, ramblur said:

Never needed to cool off in the first place, as my mind is firmly made up, and you and a few others do nothing but strengthen that position. The cooling off period is a forum requirement, and I wish I could have gone days ago. It was bad enough that mods allowed a childish poster to blatantly circumvent the wishes of a member by deliberately quoting posts that I was bound to see. The fact that you joined in shows a lot about you, but there again over the years I've been a member you've hardly posted anything of interest - just feeble attempts at wit, or maybe half wit.

The cooling off period is so that people can have second thoughts, if you really wanted to leave the forum you would have stopped posting the day you requested to be deleted.

Some might say you like the attention, not me though.

Do you really want to leave? You don’t have to, you can change your mind it’s not set in stone.

But it did seem that because someone challenged your opinion you totally threw your toys out the pram, and other statements about not taking questions about your posts.

Nobodies perfect, not even @David 

Time for this half wit to let you enjoy your swan song.

All the best.

 

 

[CornwallRam]

Right, as soon as Ramblur's account disappears I'm posting thread that to the effect that Mel is secretly making a huge profit and hiding it by siphoning money through the holding company. Peter Gadsby has caught wind and is fuming because he had a special clause inserted into the club's constitution that he was entitled to 95% of any profit made, despite him making £50m when he sold to GSE. Appleby tried for years to avoid making money by hiring a non-league manager and then using a sinister lawyer/agent to ensure that there was no danger of DCFC ever turning a profit. It's all there in the consolidated accounts if you know how to read them.*

Ramblur II account appears in 5,4,3...

 

 

 

 

 

 

 

 

*for any lawyers reading - none of the above is true, it's just a satirical post

[RadioactiveWaste]

8 minutes ago, CornwallRam said:

*for any lawyers reading - none of the above is true, it's just a satirical post

Allegedly.

[Animal is a Ram]

13 minutes ago, ramblur said:

If I were feeling up to it, I'd look up the EFL regs on transfer fees, but that kind of thing always gives me a headache now. It may be that inter club indebtedness takes priority in the event of a club getting into trouble ( not great news for small businesses, if that were the case).

Quote

49.1 All Transfer Fees, Compensation Fees and instalments thereof and any subsequent payments which become due under the terms of the original transfer shall be paid direct to The League for immediate onward transmission, where appropriate, to the Transferor Club. Prior to such onward transmission they shall not be paid into the Pool Account but held in a separate Transfer Fee Account.

https://www.efl.com/-more/governance/efl-rules--regulations/section-6---players/

Makes no mention of the transferor having any protection, in case of financial difficulty. Plenty of fines for the transferee, though

[ramblur]

3 minutes ago, Boycie said:

The cooling off period is so that people can have second thoughts, if you really wanted to leave the forum you would have stopped posting the day you requested to be deleted.

Some might say you like the attention, not me though.

Do you really want to leave? You don’t have to, you can change your mind it’s not set in stone.

But it did seem that because someone challenged your opinion you totally threw your toys out the pram, and other statements about not taking questions about your posts.

Nobodies perfect, not even @David 

Time for this half wit to let you enjoy your swan song.

All the best.

 

 

I've already dealt with the first sentence before. When I realised that I couldn't leave straight away, it at least gave me the opportunity to afford the courtesy of individual replies to anyone wishing me well (and some have done it by PM). I said at first that I wouldn't post any more on financial matters, but came to the conclusion that an extra 7 days wouldn't do me much harm. There are many genuine posters on here who have appreciated my efforts over the years, without ever feeling the need to make snide comments.and I'm only too willing to assist such members in the few days remaining, if they have any last questions.

As for someone challenging my opinion and my throwing toys out of the pram, that's pure nonsense. If the poster had restricted himself to saying that wages were too high and had to come down, that's only something I've been saying for ages anyway, so there's no conflict there. For him to suggest that I wouldn't admit it is just pure ridiculous. Why would I have to admit to something I've been saying myself over more posts than I care to remember?

What I did object to was his using consolidated accounts (whose accounting periods didn't even tally with those of the Club) to state inflated losses that weren't even relevant to the Club, to make his points, and this from someone admitting to having no accounting knowledge.

We have the ridiculous situation where he latches onto a £21m paper loss on the impairment of goodwill ( that had nothing at all to do with the club) and calls it gobbledygook , simply because he doesn't understand something that a qualified person would find easy. To cap it all, he then seems to think the accounts are some kind of menu, whereby he can substitute his own ridiculous theory for a £21m paper loss that was clearly defined in the first place.

In ill health, I'm now tired of challenging things like this, The Baron and The Mail. I've spent more time and effort on this than I would have on analysing 4 years of Club accounts, and that's saying something.

This is far from a spur of the moment decision. All that has changed recently is that my distaste for spending hours of my time in producing stuff that might benefit certain elements on here now outweighs my desire to help the majority, and I feel sad for them. But don't blame me.

There's absolutely nothing that's going to change my mind on Tuesday. 

[ramblur]

24 minutes ago, CornwallRam said:

Right, as soon as Ramblur's account disappears I'm posting thread that to the effect that Mel is secretly making a huge profit and hiding it by siphoning money through the holding company. Peter Gadsby has caught wind and is fuming because he had a special clause inserted into the club's constitution that he was entitled to 95% of any profit made, despite him making £50m when he sold to GSE. Appleby tried for years to avoid making money by hiring a non-league manager and then using a sinister lawyer/agent to ensure that there was no danger of DCFC ever turning a profit. It's all there in the consolidated accounts if you know how to read them.*

Ramblur II account appears in 5,4,3...

 

 

 

 

 

 

 

 

*for any lawyers reading - none of the above is true, it's just a satirical post

Fine effort Cornie. I've always felt you showed great promise. Don't forget Gellaw 101 ( which was also stuck into the paper trail I mentioned earlier, but couldn't be bothered to look at- capital reduction there as well) and add in a spot of Global Derby and Sevco 5113. You could also season with other dormant companies within the group.

[ramblur]

57 minutes ago, Boycie said:

 

Some might say you like the attention, not me though.

 

 

Well done. That sly way of introducing a suggestion merely reinforces my view that I'm doing exactly the right thing. A bit like the 'brown fingers' from years ago (oops, sorry, I made a mistake - but it let you say it in the first place. I'm nobody's fool.)

[eddie]

4 hours ago, The Scarlet Pimpernel said:

Exactly Spanish. If Mel met the debts of the contracts currently entered into under his stewardship then screwed only in the sense we would have to cut the cloth to fit which may mean relegation.

If my auntie had nuts, she'd be a squirrel.

[Rev]

1 hour ago, ramblur said:

I've already dealt with the first sentence before. When I realised that I couldn't leave straight away, it at least gave me the opportunity to afford the courtesy of individual replies to anyone wishing me well (and some have done it by PM). I said at first that I wouldn't post any more on financial matters, but came to the conclusion that an extra 7 days wouldn't do me much harm. There are many genuine posters on here who have appreciated my efforts over the years, without ever feeling the need to make snide comments.and I'm only too willing to assist such members in the few days remaining, if they have any last questions.

As for someone challenging my opinion and my throwing toys out of the pram, that's pure nonsense. If the poster had restricted himself to saying that wages were too high and had to come down, that's only something I've been saying for ages anyway, so there's no conflict there. For him to suggest that I wouldn't admit it is just pure ridiculous. Why would I have to admit to something I've been saying myself over more posts than I care to remember?

What I did object to was his using consolidated accounts (whose accounting periods didn't even tally with those of the Club) to state inflated losses that weren't even relevant to the Club, to make his points, and this from someone admitting to having no accounting knowledge.

We have the ridiculous situation where he latches onto a £21m paper loss on the impairment of goodwill ( that had nothing at all to do with the club) and calls it gobbledygook , simply because he doesn't understand something that a qualified person would find easy. To cap it all, he then seems to think the accounts are some kind of menu, whereby he can substitute his own ridiculous theory for a £21m paper loss that was clearly defined in the first place.

In ill health, I'm now tired of challenging things like this, The Baron and The Mail. I've spent more time and effort on this than I would have on analysing 4 years of Club accounts, and that's saying something.

This is far from a spur of the moment decision. All that has changed recently is that my distaste for spending hours of my time in producing stuff that might benefit certain elements on here now outweighs my desire to help the majority, and I feel sad for them. But don't blame me.

There's absolutely nothing that's going to change my mind on Tuesday. 

I've appreciated your input and patience over the years @ramblur, you've certainly been a more than useful indication of the financial reality.

I do think however you've taken certain posters far too seriously, but I can see why you've had enough, take care and all the best with your health issues.

[ramblur]

1 hour ago, reveldevil said:

I've appreciated your input and patience over the years @ramblur, you've certainly been a more than useful indication of the financial reality.

I do think however you've taken certain posters far too seriously, but I can see why you've had enough, take care and all the best with your health issues.

Thanks mate, and all the best.

[RamNut]

 

2 hours ago, ramblur said:

If the poster had restricted himself to saying that wages were too high and had to come down, that's only something I've been saying for ages anyway, so there's no conflict there. For him to suggest that I wouldn't admit it is just pure ridiculous.

Didn't say that either.....