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83 million in debt


Charliegeorge1962

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5 hours ago, Charliegeorge1962 said:

Looks like time is now crucial to get a new owner in as we are officially 83 million on debt with a bank balance of only £630,000.

It won't take long for that small amount in the bank to dry up.

What a mess!

Did Morris spend any of his own money, or did he just borrow and not pay it back?

The more I hear about how he's ruined the club the more I despise the man

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11 minutes ago, oldtimeram said:

Did Morris spend any of his own money, or did he just borrow and not pay it back?

The more I hear about how he's ruined the club the more I despise the man

The £250 million figure been banded around includes £160 million Morris loaned the club which he won't get back. It may not be that high but it was reported to be £100 million when he was still hoping to sell the club.

The owner loaning a club money is the standard way of funding them. If things go well they get their money back, if not it's written off.

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4 hours ago, Eatonram said:

And what are the debts of other similar sized Championship clubs? It looks alarming but is it that out if step with similar clubs with similar revenue streams? 

If the figures banded about are to be believed then Blackburn are £140m and Stoke £170m in debt to their respective owners.

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3 minutes ago, BriggRam said:

Not sure where you've heard or seen that B4....I'm sure he has come and said himself he's not a billionaire

Yeah he isn't a billionaire, I think that comes from the fact Goldman Sachs gave his company 60mil in investment and are projecting the companies future value at over a billion. So he very well could become a billionaire in the next few years, it could also fail too lol

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2 hours ago, B4ev6is said:

He sold one of his company's and it came upto 7b mate and it was confirmed by efl mate.

One thing for sure is you won't find anything on the internet about it. Just as if somebody has wiped every reference to him off there other than his company, where he lives (worth about 4, million) and his wife's name. Even his entertainment company which was his first has gone AWOL

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3 minutes ago, I know nuffin said:

One thing for sure is you won't find anything on the internet about it. Just as if somebody has wiped every reference to him off there other than his company, where he lives (worth about 4, million) and his wife's name. Even his entertainment company which was his first has gone AWOL

He owns several sporting companies in the states.

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3 hours ago, Gladram said:

The £250 million figure been banded around includes £160 million Morris loaned the club which he won't get back. It may not be that high but it was reported to be £100 million when he was still hoping to sell the club.

The owner loaning a club money is the standard way of funding them. If things go well they get their money back, if not it's written off.

Not factually correct, MM has no loans owing from the club.

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