RamNut Posted April 10, 2011 Share Posted April 10, 2011 The LOG would only have had to put in £21m if they'd replicated what's been done by the current administration since 1/1/08. ....but they'd never have done that. Link to comment Share on other sites More sharing options...
Guest Posted April 10, 2011 Share Posted April 10, 2011 Investment within General Sports Derby Partners LLC (where the rest of the investors reside),either as an original or subsequent investor.There are several groupings he could appear in,such as GS Capital,GS Soccer Partners,GSE-DCFC,GSE,GS Partners. Not certain on this but pretty sure he said he had invested money in the club, hence why I said about directors loan. Will try and find the interview to see his exact words. Link to comment Share on other sites More sharing options...
Guest Posted April 10, 2011 Share Posted April 10, 2011 Not certain on this but pretty sure he said he had invested money in the club, hence why I said about directors loan. Will try and find the interview to see his exact words. 'Have you put money in personally to Derby County?' I have done yes. Link to comment Share on other sites More sharing options...
ramblur Posted April 10, 2011 Share Posted April 10, 2011 Not certain on this but pretty sure he said he had invested money in the club, hence why I said about directors loan. Will try and find the interview to see his exact words. In answer to this and your subsequent post :-several of our investors are club directors.When they all say they've invested in the club,does that mean they've all granted directors' loans to the club?Why should Glick's revelation that he's an investor prompt you to automatically class this as a director's loan? Link to comment Share on other sites More sharing options...
Guest Posted April 10, 2011 Share Posted April 10, 2011 In answer to this and your subsequent post :-several of our investors are club directors.When they all say they've invested in the club,does that mean they've all granted directors' loans to the club?Why should Glick's revelation that he's an investor prompt you to automatically class this as a director's loan? Have not classed it as anything, was just backing up my original point that you could not prove whether he has or not. Link to comment Share on other sites More sharing options...
ramblur Posted April 10, 2011 Share Posted April 10, 2011 Have not classed it as anything, was just backing up my original point that you could not prove whether he has or not. On the previous page of the thread you asked me what else it could be -obviously implying that you thought it could only be a director's loan. I'm sure that if he had loaned the club money,as an accountant you'd be able to tell all our readers the various places it would appear in the DCFC accounts (to prove whether he had or not). Link to comment Share on other sites More sharing options...
Guest Posted April 10, 2011 Share Posted April 10, 2011 On the previous page of the thread you asked me what else it could be -obviously implying that you thought it could only be a director's loan. I'm sure that if he had loaned the club money,as an accountant you'd be able to tell all our readers the various places it would appear in the DCFC accounts (to prove whether he had or not). Yes I could do but as most people would not understand I don't really see the point. I have also sat enough exams to not be set tests anymore. Link to comment Share on other sites More sharing options...
ramblur Posted April 10, 2011 Share Posted April 10, 2011 Yes I could do but as most people would not understand I don't really see the point. I have also sat enough exams to not be set tests anymore. It was supposed to be a statement of fact,not a 'test'.If you're able to tell us the various places(but don't see the point),this implies that if such a loan had been made,I too would be able to look in these various places to confirm same. Link to comment Share on other sites More sharing options...
Guest Posted April 10, 2011 Share Posted April 10, 2011 It was supposed to be a statement of fact,not a 'test'.If you're able to tell us the various places(but don't see the point),this implies that if such a loan had been made,I too would be able to look in these various places to confirm same. The term 'other loans' could cover a wide range of sources. Do not know when he claims to have put money into the club so would not even know what year to look in. Link to comment Share on other sites More sharing options...
Guest Posted April 10, 2011 Share Posted April 10, 2011 The term 'other loans' could cover a wide range of sources. Do not know when he claims to have put money into the club so would not even know what year to look in. Have just read the directors report and now realise it is possible to work out what is in other loans - I apologise and retract what I said. Link to comment Share on other sites More sharing options...
ramblur Posted April 10, 2011 Share Posted April 10, 2011 The term 'other loans' could cover a wide range of sources. Do not know when he claims to have put money into the club so would not even know what year to look in. Well,"other loans" for 09/10 quite clearly represents the c£3m revolving loan secured against S/T income,together with the c£1.7m loan capital from GSE.I'm quite sure that any future flow of funds into the club will show up in,err,the cash flow statement (amongst other things). You don't seem to have answered the "what else could it be" question-obviously an oversight. Having now seen your post,apology accepted Link to comment Share on other sites More sharing options...
kaber Posted April 14, 2011 Share Posted April 14, 2011 Hi folks - first post on here - and this is my take on things. The accounts up to June 30th 2010 show that the current owners have put £19.8m into the club - all apart from a £1.7m outstanding loan being capital investment - with a further £5.6m apparently put in since this date. However we must also consider that they had to pay a substantial amount of money to gain control of the club, through Gellaw 101 Limited, from Mr Gadsby and co. There was an initial payment of £11.088m followed by a defered payment of £3.72m (total £14.8m*) and then a payment of £1.115 to acquire the remaining minority interest shareholding. (A further £1.86m is payable if the club achieve promotion before the 2013/14 season. Together this makes a total investment of £35.8m - plus the £5.6m put in since and more promised this summer. In the two financial years to June 2010 there was a a net payment of £9.2m on transfer fees (some of which would presumably have been payments due on signings made in 2007/08 ) and a £21.2m reduction in liabilities. *(In one of the earlier posts a figure of £9m was quoted as being the amount Mr Gadsby and co had put into the club) Link to comment Share on other sites More sharing options...
Boycie Posted April 14, 2011 Share Posted April 14, 2011 I feel better for that. Link to comment Share on other sites More sharing options...
ramblur Posted April 14, 2011 Share Posted April 14, 2011 Hi folks - first post on here - and this is my take on things. The accounts up to June 30th 2010 show that the current owners have put £19.8m into the club - all apart from a £1.7m outstanding loan being capital investment - with a further £5.6m apparently put in since this date. However we must also consider that they had to pay a substantial amount of money to gain control of the club, through Gellaw 101 Limited, from Mr Gadsby and co. There was an initial payment of £11.088m followed by a defered payment of £3.72m (total £14.8m*) and then a payment of £1.115 to acquire the remaining minority interest shareholding. (A further £1.86m is payable if the club achieve promotion before the 2013/14 season. Together this makes a total investment of £35.8m - plus the £5.6m put in since and more promised this summer. In the two financial years to June 2010 there was a a net payment of £9.2m on transfer fees (some of which would presumably have been payments due on signings made in 2007/08 ) and a £21.2m reduction in liabilities. *(In one of the earlier posts a figure of £9m was quoted as being the amount Mr Gadsby and co had put into the club) You appear to have already added the £5.6m into your initial £19.8m,and then added it again later (this £5.6m was subsequently updated/amended to £6.6m in both the Gellaw and GS Derby accounts.) Anyone who has access to the General Sports Derby (UK)Ltd accounts can verify the investment figure-absolutely no accounting experience needed,just the ability to read.Just go to the start of page 9 "Company balance sheet" and the first item "investment".The figure quoted of £30.291m represents the total acquisition cost (including Pearson),together with new investment into the club.Add on the additional £6.6m shown in the directors' report as having been invested after the year end and you get a total figure of £36.891m (including acquisition).This was the check that I performed before posting my own breakdown of figures. Of course the loan capital is an interesting one.I calculate that the accrued interest of £152,013 represents 8.7% of the loan of £1.747m.As this doesn't appear to be a particularly favourable interest rate,I see little difference between this and simply borrowing from a financial institution (which wouldn't be considered investment by the owners).However,those who wish to classify this as "investment" are entitled so to do. The contingent £1.8m may never be paid.Correct me if I'm wrong,but I've never actually heard the club say that new investment is going to be pumped in during the next window.Investment may just mean utilising existing resources plus wheeling and dealing. Link to comment Share on other sites More sharing options...
CornwallRam Posted April 14, 2011 Share Posted April 14, 2011 You appear to have already added the £5.6m into your initial £19.8m,and then added it again later (this £5.6m was subsequently updated/amended to £6.6m in both the Gellaw and GS Derby accounts.) Anyone who has access to the General Sports Derby (UK)Ltd accounts can verify the investment figure-absolutely no accounting experience needed,just the ability to read.Just go to the start of page 9 "Company balance sheet" and the first item "investment".The figure quoted of £30.291m represents the total acquisition cost (including Pearson),together with new investment into the club.Add on the additional £6.6m shown in the directors' report as having been invested after the year end and you get a total figure of £36.891m (including acquisition).This was the check that I performed before posting my own breakdown of figures. Of course the loan capital is an interesting one.I calculate that the accrued interest of £152,013 represents 8.7% of the loan of £1.747m.As this doesn't appear to be a particularly favourable interest rate,I see little difference between this and simply borrowing from a financial institution (which wouldn't be considered investment by the owners).However,those who wish to classify this as "investment" are entitled so to do. The contingent £1.8m may never be paid.Correct me if I'm wrong,but I've never actually heard the club say that new investment is going to be pumped in during the next window.Investment may just mean utilising existing resources plus wheeling and dealing. I hope you're not tossing out the ideas of our new poster:-) Link to comment Share on other sites More sharing options...
ramblur Posted April 14, 2011 Share Posted April 14, 2011 I hope you're not tossing out the ideas of our new poster:-) You've been at the scotch again Link to comment Share on other sites More sharing options...
kaber Posted April 14, 2011 Share Posted April 14, 2011 Ramblur is of course correct in saying that my figure of total investment is incorrect (although wrong in his assumption as to the actual error); my apologies for the mistake. My only excuse is that I am been suffering from chronic depression for over two years and therefore am not at my best mentally - but don't worry Ramblur, your less than welcoming comments have not pushed me over the edge..... Suffice to say I won't be putting my head above the parapet and post on here again. Link to comment Share on other sites More sharing options...
Boycie Posted April 14, 2011 Share Posted April 14, 2011 Well, if you're going to play with the big boys, (Rambler) you have to know your onions. and potatoes, runner beans and turnips. http://dorothydalton.files.wordpress.com/2010/12/peeping-over-the-parapets?w=252&h=164 Link to comment Share on other sites More sharing options...
ramblur Posted April 14, 2011 Share Posted April 14, 2011 Ramblur is of course correct in saying that my figure of total investment is incorrect (although wrong in his assumption as to the actual error); my apologies for the mistake. My only excuse is that I am been suffering from chronic depression for over two years and therefore am not at my best mentally - but don't worry Ramblur, your less than welcoming comments have not pushed me over the edge..... Suffice to say I won't be putting my head above the parapet and post on here again. Yes,I suppose it was coincidence that the figure was inflated by £5.6m,just as it's no doubt a coincidence that your figure of £35.8m,when added to £5.6m gives £41.4m (which would happen to represent £16m of acquisition + £25m of further investment-shame it's incorrect). I note your dramatic £21.2m reduction in liabilities-pity you didn't mention a reduction of assets to the tune of £23.957m over the corresponding period,giving rise to a reduction in net assets of £2.7m Link to comment Share on other sites More sharing options...
ramblur Posted April 14, 2011 Share Posted April 14, 2011 Well, if you're going to play with the big boys, (Rambler) you have to know your onions. and potatoes, runner beans and turnips. http://dorothydalton.files.wordpress.com/2010/12/peeping-over-the-parapets?w=252&h=164 ...not to mention pesticides:eek: Link to comment Share on other sites More sharing options...
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