Papahet Posted January 14, 2021 Share Posted January 14, 2021 Oooo no famous 9am (birthday surprises, rams tv, energy drinks) tweet from the club Something’s happening Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 14, 2021 Share Posted January 14, 2021 1 hour ago, Boycie said: I doubt you can fund a promotion bid without parachute payments without making a loss. Sure, some teams did it, Billy did it, but the mind set of the players and wages paid were different, they were hungry to succeed, wanted to succeed for each other. Last team of ours like that was Clough/Mac 1. That fine margin of loss started all this, chasing the dream with money. Sometimes high wages and transfer fee’s aren’t enough. I reckon Rooney could get a team to do it too, but I wonder will he hang around if this isn't sorted out well? Link to comment Share on other sites More sharing options...
FindernRam Posted January 14, 2021 Share Posted January 14, 2021 21 minutes ago, Sparkle said: Good job I paid by my MasterCard then Serious point: Claims back on credit cards are time limited as I found out recently. Think its six months from when you paid, rather than from when the service/goods are due! I was in shock so didn't really hear much after "Sorry but no money back" Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 14, 2021 Share Posted January 14, 2021 41 minutes ago, Gaspode said: I wasn't defending him - his mistakes have cost the club dearly - but criticsim has to be tempered by the fact that the vast majority of the fans wanted us to chase the dream - and that's what he's done.... That is true, but we trusted him to know what he was doing financially. ? Link to comment Share on other sites More sharing options...
Topram Posted January 14, 2021 Share Posted January 14, 2021 7 minutes ago, Papahet said: Oooo no famous 9am (birthday surprises, rams tv, energy drinks) tweet from the club Something’s happening Probably can’t afford to pay the media guy to run it Link to comment Share on other sites More sharing options...
alexxxxx Posted January 14, 2021 Share Posted January 14, 2021 2 minutes ago, Topram said: Probably can’t afford to pay the media guy to run it Maybe put far more staff members of furlough. Link to comment Share on other sites More sharing options...
Mostyn6 Posted January 14, 2021 Share Posted January 14, 2021 33 minutes ago, Coconut said: Lampard hadn't cocked up the team selection against Villa at Wembley in 2018/19 His selection made Roos a fumbling buffoon?? ??♂️ Link to comment Share on other sites More sharing options...
Ram-Alf Posted January 14, 2021 Share Posted January 14, 2021 17 minutes ago, kevinhectoring said: Don’t quite know what you’re saying we were discussing what the position is if the lender (MSD) wants to own the club (as has been reported). The fact is, if BZG’s deal fails, then Dell are in a preferred position to buy if they do want to. And they would barely need to do any due diligence. But what they are not allowed to do is just take the club and the stadium in exchange for releasing the loan (unless there’s something really weird in the documents). That last point was the reason for the exchange with @Cornwall ram I was referring to your quote below...nothing else. "if the debt is 125 and the house is worth 200, it is not the case that on default the bank gets the property for 125. 75 needs to be returned to the borrower. Broadly speaking" If the borrower is lucky. Link to comment Share on other sites More sharing options...
AndyinLiverpool Posted January 14, 2021 Share Posted January 14, 2021 30 minutes ago, Ghost of Clough said: Taking the teams I just mentioned as having made a profit. 14/15 - Birmingham (£1.3m) - 67.1% 16/17 - Barnsley (£12.8m) - 84.8% 17/18 - Preston (£2.3m) - 123.1% 18/19 - Bristol (£12.7m) - 139.5% 18/19 - Brentford (£20.0m) - 123.7% Turns out QPR received parachute payments in the 18/19 season to make their modest profit I'm sorry but unless the word 'profit' has been redefined, it is not possible to to be profitable whilst spending over 100% of your income. Link to comment Share on other sites More sharing options...
CornwallRam Posted January 14, 2021 Share Posted January 14, 2021 1 hour ago, Gritty said: What is market value? Administrator could do an auction. I guarantee you it won't be 60mn Have you read it? It appears to prevent going into administration without MSD's permission. Link to comment Share on other sites More sharing options...
Ram-Alf Posted January 14, 2021 Share Posted January 14, 2021 32 minutes ago, one_chop said: Do any Football clubs actually make a profit ?. Makes you wonder why people buy them. I mean you wouldn't buy a burger van that lost 2 grand a week and then put it up for sale as a going concern would you ?. Yes, i'd re locate the burger van to where customers were...simples really? Link to comment Share on other sites More sharing options...
CornwallRam Posted January 14, 2021 Share Posted January 14, 2021 1 hour ago, kevinhectoring said: Uhhh? He gave them an option to buy the club and the academy and the rest for the value of the loan?????? Or are you just saying that is the effect of the charge over the club’s shares He used all his footballing assets as security. In the event of a default, they all transfer to MSD. An insolvency event (even a meeting discussing insolvency) is classed as a default. It was commented on at the time that it was a draconian charge, but assumed that it was only of academic interests as Mel was so wealthy he would always be able to avoid a default. Link to comment Share on other sites More sharing options...
roboto Posted January 14, 2021 Share Posted January 14, 2021 No statement before 10am would indicate that something has changed since the media stories have come out and the club are waiting to announce something. You'd think that there would have been an official response by now if there had been no change to the situation reported last night. The club have usually responded quite quickly to other leaked stories. Link to comment Share on other sites More sharing options...
SamUltraRam Posted January 14, 2021 Share Posted January 14, 2021 I still find it strange that the club have stopped taking direct debits for season tickets just at the time that they are short of cashflow. No idea of the intention, but it's just strange ? Any ideas anyone ? Link to comment Share on other sites More sharing options...
DCFC27 Posted January 14, 2021 Share Posted January 14, 2021 36 minutes ago, Gaspode said: If FFP had been in anyway 'Fair' then owners would have been allowed to put whatever they chose into clubs as long as it was a 'donation' rather than a loan and we'd probably see clubs being run far more professionally as owners would need to ensure the clubs turned a profit to make their 'investment' worthwhile. But reality means that the majority of owners do see the ownership as a vanity project - that's where we are and it won't change while we're goverened by FIF/the FA/the EFL who all bow to the god of TV money.... If you're concerned about morals, then you shouldn't be anywhere near professional football....it does leave a sour taste that contracts aren't being honoured, but rich folk don't stay rich by throwing money down the drain - that's effectively what Mel would be doing if he paid the wages out of his own pocket when there was apparently an agreeement that the new owner would be funding them. The loan will still leave the new owner paying that set of wages (by repaying the loan) and puts pressure on the Sheikh to pull his finger out before the next wages are due..... No the point of FFP is to stop owners signing the club up to big contracts saying they’ll cover them... donation or otherwise if they change their mind 12 months later the club are left with massive wages. The owners should be held to more account, if they sign players over a 5 year contract at 20k a week they should put that in the club when they sign, and recoup their money from the income from the club if they wish but ultimately they should not be able to walk away without paying up the contracts of the players. The players contracts are the main out going and the biggest risk to administration. It’s currently working backwards, IMO this is a way of getting football back and avoiding situations like these. If an owners wants to buy a player for his club. Player costs £5m including transfer fees and wages etc. Owner puts £5m into the club wages account. The club has income from tickets sales etc that isn’t now being used to cover players wages, this firstly covers the club running costs etc. Whatever is then left over the owner can take out as repayment for the players he has bought. If the club runs into hard times, COVID for example. The club has no liability to the owner, his money is tied up and the players are paid etc. The owner may think well I’m not paying the admin costs now then, the clubs should now have learnt their lesson from covid and as industry standard have a “fans clause” if the fans aren’t allowed to go to games affecting the income of the club the player equally take a pay cut to to pay the running costs of the club. How is this then all monitored. The EFL reinvent themselves into something useful and become what the Prudential Regulation authority is to banks and financial institutions. They monitor club’s accounts to ensure they are adhering. What if they can’t find someone rich enough to front the money. The clubs that can’t, agree to a wage cap for their players and their owners take personal liability to them, if the owner can’t pay in worst case scenario the EFL also introduces compensation fund that each club pays into proportionally which is to save clubs from administration. It will almost certainly result in a drop of wages to average players too. Link to comment Share on other sites More sharing options...
Ram-Alf Posted January 14, 2021 Share Posted January 14, 2021 1 minute ago, SamUltraRam said: I still find it strange that the club have stopped taking direct debits for season tickets just at the time that they are short of cashflow. No idea of the intention, but it's just strange ? Any ideas anyone ? It was mentioned a good few pages back, That if you continue to trade upto Administration you could be liable. This was reflected only as a could be scenario where season ticket money has stopped being taken and nothing else. Link to comment Share on other sites More sharing options...
Mihangel Posted January 14, 2021 Share Posted January 14, 2021 11 minutes ago, CornwallRam said: Have you read it? It appears to prevent going into administration without MSD's permission. I don't doubt it, it would be a surprise if such a clause wasn't in there. I don't get all this talk of administration, it seems a bit lazy especially on behalf of the journalists (Percy!!). Why would Morris do that, isn't he a creditor himself?? I don't know who else could or would initiate the process or why. Link to comment Share on other sites More sharing options...
Rammy03 Posted January 14, 2021 Share Posted January 14, 2021 You just know Mel is sitting back laughing at all these posts, ready to pull off another masterstroke... Link to comment Share on other sites More sharing options...
Ghost of Clough Posted January 14, 2021 Share Posted January 14, 2021 12 minutes ago, AndyinLiverpool said: I'm sorry but unless the word 'profit' has been redefined, it is not possible to to be profitable whilst spending over 100% of your income. Plus transfer profit. I made the mistake of typing 'income' when I meant turnover/revenue. Link to comment Share on other sites More sharing options...
Orphanram Posted January 14, 2021 Share Posted January 14, 2021 Just now, Rammy03 said: You just know Mel is sitting back laughing at all these posts, ready to pull off another masterstroke... He’s got himself on strings Link to comment Share on other sites More sharing options...
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