SamUltraRam Posted May 12, 2021 Share Posted May 12, 2021 (edited) So one thing that's puzzling me. Mel Morris has been bankrolling us for the last 7 years and the press like to mention that he's spent between £100m & £200m of his own wealth to do that. So if that's the case, how do we apparently have debts ? I assume that Mel has lent the money to the club, not gifted it ? So is he trying to sell the club for £40m plus the debts to him or has he borrowed money rather than used his own money ? Edited May 12, 2021 by SamUltraRam Link to comment Share on other sites More sharing options...
G STAR RAM Posted May 12, 2021 Share Posted May 12, 2021 37 minutes ago, TheresOnlyWanChope said: There is no one in all likeliness due to our debt but no one sounds better than Alonso. What is your understanding of debt in the company? Ive seen this mentioned by the Daily Mail but nobody has managed to explain what debt we have yet? SamUltraRam 1 Link to comment Share on other sites More sharing options...
G STAR RAM Posted May 12, 2021 Share Posted May 12, 2021 3 minutes ago, SamUltraRam said: So one thing that's puzzling me. Mel Morris has been bankrolling us for the last 7 years and the press like to mention that he's spent between £100m & £200m of his own wealth to do that. So if that's the case, how do we apparently have debts ? I assume that Mel has lent the money to the club, not gifted it ? Certainly up until 30 June 2018 the money was put in the club via equity. If reports are true, somehow, despite being owed £80m for the ground, we have managed to accumulate huge debts in the space of 35 months. jimtastic56 1 Link to comment Share on other sites More sharing options...
TuffLuff Posted May 12, 2021 Share Posted May 12, 2021 I’ll give them one thing No Limits Sport Limited is quite a funny name GboroRam 1 Link to comment Share on other sites More sharing options...
Carnero Posted May 12, 2021 Share Posted May 12, 2021 1 minute ago, G STAR RAM said: Certainly up until 30 June 2018 the money was put in the club via equity. If reports are true, somehow, despite being owed £80m for the ground, we have managed to accumulate huge debts in the space of 35 months. I assume the media reports are talking about the MSD loans that one of the holding companies took out so that the football club had enough cash to be able to operate during the pandemic. RadioactiveWaste, angieram and Ghost of Clough 2 1 Link to comment Share on other sites More sharing options...
ariotofmyown Posted May 12, 2021 Share Posted May 12, 2021 2 minutes ago, TuffLuff said: I’ll give them one thing No Limits Sport Limited is quite a funny name I buy all my 90s dance vinyl from 2 Unlimited Limited. Link to comment Share on other sites More sharing options...
SamUltraRam Posted May 12, 2021 Share Posted May 12, 2021 (edited) 9 minutes ago, G STAR RAM said: What is your understanding of debt in the company? Ive seen this mentioned by the Daily Mail but nobody has managed to explain what debt we have yet? Exactly, so do we have 'actual' debts or is it mainly owed to Mel Morris - in which case, how much is he prepared to write off ? Eg, Buy a new sports car for £100k, spend £1000's on it for servicing etc then when you try to sell it, it's book value is £50k but the dealer offers you £30k - you take the hit I suppose. You've had fun but it's cost you lots of cash Edited May 12, 2021 by SamUltraRam Link to comment Share on other sites More sharing options...
G STAR RAM Posted May 12, 2021 Share Posted May 12, 2021 2 minutes ago, Carnero said: I assume the media reports are talking about the MSD loans that one of the holding companies took out so that the football club had enough cash to be able to operate during the pandemic. If reports are to be believed we have £40m borrowed against an £80m asset (the ground) plus the lease on the training ground. Obviously the reported interest on these loans sounds ridiculously high. However, if the purchase price has been adjusted down to £2.5m to reflect these debts, you would assume that any credible prospective buyer would have the funds to clear down these loans. Link to comment Share on other sites More sharing options...
G STAR RAM Posted May 12, 2021 Share Posted May 12, 2021 2 minutes ago, SamUltraRam said: Exactly, so do we have 'actual' debts or is it mainly owed to Mel Morris - in which case, how much is he prepared to write off ? Mel (or another of the companies that he controls) actually owed the club £75m at the time of the last accounts. So unless he has put more than that amount in to the club in the last 3 years then I cannot see that we could have any sizeable debts to MM or his companies. I personally think that the debts are also in companies (with guarantees from the club) but cannot be sure on this. Link to comment Share on other sites More sharing options...
Carnero Posted May 12, 2021 Share Posted May 12, 2021 4 minutes ago, G STAR RAM said: If reports are to be believed we have £40m borrowed against an £80m asset (the ground) plus the lease on the training ground. Obviously the reported interest on these loans sounds ridiculously high. However, if the purchase price has been adjusted down to £2.5m to reflect these debts, you would assume that any credible prospective buyer would have the funds to clear down these loans. Yep, the media have been known to occasionally embellish the facts for the sake of a good story. Link to comment Share on other sites More sharing options...
Angry Ram Posted May 12, 2021 Share Posted May 12, 2021 (edited) 2 hours ago, BramcoteRam84 said: Seriously are there any fan groups out there looking at pulling a fans bid together or at least one for partial ownership? I’d be willing to put a few grand in. That @Van der MoodHooverguy has all the money i'm told. Edited May 12, 2021 by Angry Ram BramcoteRam84, EraniosSocks and Van der MoodHoover 3 Link to comment Share on other sites More sharing options...
Van der MoodHoover Posted May 12, 2021 Share Posted May 12, 2021 2 minutes ago, Angry Ram said: That @Van der MoodHooverguy has all the money i'm told. Mrs VdM is quite often heard saying she'd like me to have the chance to be in a box soon..... ? BramcoteRam84 1 Link to comment Share on other sites More sharing options...
WharfedaleRam Posted May 12, 2021 Share Posted May 12, 2021 16 hours ago, MickD said: I hear that Donald Trump is looking for another business venture. He seems a viable proposition after our previous prospective buyers. ? That'll mean the return of the orange kit then?! MickD, RadioactiveWaste and Reggie Greenwood 3 Link to comment Share on other sites More sharing options...
Barney1991 Posted May 12, 2021 Share Posted May 12, 2021 I’ve read the athletic story again and it seems whoever alonsos silent partner is who probably actually has the money might be thinking of getting the club without Alonso. Wonder who this is RadioactiveWaste 1 Link to comment Share on other sites More sharing options...
Spanish Posted May 12, 2021 Share Posted May 12, 2021 35 minutes ago, G STAR RAM said: If reports are to be believed we have £40m borrowed against an £80m asset (the ground) plus the lease on the training ground. Obviously the reported interest on these loans sounds ridiculously high. However, if the purchase price has been adjusted down to £2.5m to reflect these debts, you would assume that any credible prospective buyer would have the funds to clear down these loans. we don't own the ground Link to comment Share on other sites More sharing options...
RammingStone66 Posted May 12, 2021 Share Posted May 12, 2021 1 minute ago, Barney1991 said: I’ve read the athletic story again and it seems whoever alonsos silent partner is who probably actually has the money might be thinking of getting the club without Alonso. Wonder who this is Yeah that 'silent' partner is supposedly the OSO group guy Oktohari. I pointed out a while ago when it was being reported that the 60-70mill figure for the club seemed high for a guy (Oktohari) that's worth around 200mil. That would be a significant chunk of his worth on a loss making football club. But now it's reported that it's only the 5mill plus the debt of 40mill which makes more sense as they are now trying to get away with not paying the debt off in one go. Still smells like Oktohari or Alonso arnt spending any serious money and just using oktoharis money as a front to get the club in a "leveraged buyout" kinda way. Maybe that's why the EFL reportedly want him to pay the debt off straight away as they are worried he is an asset stripper or doing a leveraged buy out.....just a thought but I could be totally wrong too Link to comment Share on other sites More sharing options...
G STAR RAM Posted May 12, 2021 Share Posted May 12, 2021 10 minutes ago, Spanish said: we don't own the ground Yes I know but the deal supposedly includes the ground if reports are to believed. Take on £40m debt and receive an £80m asset in exchange. I dont see why this transaction is supposedly so unattractive to buyers. There must be more to this than we are being told. The Scarlet Pimpernel and JuanFloEvraTheCocu'sNesta 2 Link to comment Share on other sites More sharing options...
Spanish Posted May 12, 2021 Share Posted May 12, 2021 12 minutes ago, G STAR RAM said: Yes I know but the deal supposedly includes the ground if reports are to believed. Take on £40m debt and receive an £80m asset in exchange. I dont see why this transaction is supposedly so unattractive to buyers. There must be more to this than we are being told. we only get the ground back by forgiving the loan. Given that this may be reducing in line with Mel's monthly contribution we may owe money in return, PP worth 80 loan now reduced to 60 maybe. Just impossible to even guess when the financials are so overdue Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted May 12, 2021 Share Posted May 12, 2021 33 minutes ago, Barney1991 said: I’ve read the athletic story again and it seems whoever alonsos silent partner is who probably actually has the money might be thinking of getting the club without Alonso. Wonder who this is Probably infinately preferable.............. Link to comment Share on other sites More sharing options...
TheresOnlyWanChope Posted May 12, 2021 Share Posted May 12, 2021 1 hour ago, G STAR RAM said: What is your understanding of debt in the company? Ive seen this mentioned by the Daily Mail but nobody has managed to explain what debt we have yet? Have loans not been taken out? Link to comment Share on other sites More sharing options...
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