Confimred new owners of Raeding Footbal Club

[ZacNaloen]

Have looked through the webchat and Charles is wittering away about Vibrac jacking up the asking price to get more money for themselves. How can this be so if they don't actually own the club? If all they are getting is what is owed to them then surely the offer of £1 + pay off debt will be just as beneficial from their POV as a £50m takeover?

It's all very odd.

Not just very odd, extremely odd.

He seems to have got the idea that VIBRAC and MTI are related, not implausible they sound like MTIs sort of clients, and Samuelson is involved in some conspiracy to take the club over.

Definite one-eyedness about his sources.

[Ian Royal]

Which is exactly why i believe there much more to this than we have been privvy to.
And why i am beggining to believe what i was told about the club being mortgaged against all the parachute payments.
I am no financier by a long way but isnt it usually a case of if you default on a mortgage then the property it was secured against gets seized by the lender and subsequently sold off to pay the debt?

Why would you believe that when there's zero evidence for it?

Begbies say the debt to Vibrac is £10m and the club debt is £20m
Samuelson says the debt to Vibrac is £10m and the club debt is £20

There is literally nothing to support a loan taken out and disappeared on 4 year's of parachute payments.

At worst, AZ has had much of his loan to the club paid back, sizeably decreasing our debt making us better off, except possibly in cash flow.

[winchester_royal]

Did you see my hilarious* puns about the hedge fund that went str8 over Charlie's head?

He certainly didn't seem to twig the fact that you were taking piss.

[Pepe the Horseman]

Nicely done.

[Cypry]

Is it possible that when TSI walked away a new short term loan was taken to pay off the loans owed to BZ, and part if that agreement was that the lender would be able to control the sale to guarantee repayment?

[loyalroyaldaz]

Which is exactly why i believe there much more to this than we have been privvy to.
And why i am beggining to believe what i was told about the club being mortgaged against all the parachute payments.
I am no financier by a long way but isnt it usually a case of if you default on a mortgage then the property it was secured against gets seized by the lender and subsequently sold off to pay the debt?

Why would you believe that when there's zero evidence for it?

Begbies say the debt to Vibrac is £10m and the club debt is £20m
Samuelson says the debt to Vibrac is £10m and the club debt is £20

There is literally nothing to support a loan taken out and disappeared on 4 year's of parachute payments.

At worst, AZ has had much of his loan to the club paid back, sizeably decreasing our debt making us better off, except possibly in cash flow.

And what evidence do you have Ian??
Whats that?
None you say?
Just what you have been told and read on here the same as everybody else?

Nuff Said

[Royal Rother]

Ermm, Ian is applying a certain amount of intelligence and logic....

[Terminal Boardom]

[Ian Royal]

Which is exactly why i believe there much more to this than we have been privvy to.
And why i am beggining to believe what i was told about the club being mortgaged against all the parachute payments.
I am no financier by a long way but isnt it usually a case of if you default on a mortgage then the property it was secured against gets seized by the lender and subsequently sold off to pay the debt?

Why would you believe that when there's zero evidence for it?

Begbies say the debt to Vibrac is £10m and the club debt is £20m
Samuelson says the debt to Vibrac is £10m and the club debt is £20

There is literally nothing to support a loan taken out and disappeared on 4 year's of parachute payments.

At worst, AZ has had much of his loan to the club paid back, sizeably decreasing our debt making us better off, except possibly in cash flow.

And what evidence do you have Ian??
Whats that?
None you say?
Just what you have been told and read on here the same as everybody else?

Nuff Said

Not enough in the world
I've got the accounts and statements from the club, Samuelson and Begbies. And I'm not trying to claim to have any insider knowledge about the subject or push any rumours as fact.

Basic rule of trying to prove something or convince someone of something - have some evidence. The balance of proof is required from the claimer, not the skeptic.

[SPARTA]

Salisbury's new owner was interested in us, bought Salisbury.

http://t.co/BCUCfcAZ4h

[loyalroyaldaz]

But im not trying to prove or claim anything.......
BTW do you have the accounts from 2013-2014 or only the ones that were published end of June 2013?

[ZacNaloen]

Salisbury's new owner was interested in us, bought Salisbury.

http://t.co/BCUCfcAZ4h

He's in one of the photos that was bandied around on this thread earlier!

[Ian Royal]

But im not trying to prove or claim anything.......
BTW do you have the accounts from 2013-2014 or only the ones that were published end of June 2013?

I'll give you two guesses, see if you can get it right. Shouldn't be hard, it's all on here.

[TheLawnMowerMan]

Have looked through the webchat and Charles is wittering away about Vibrac jacking up the asking price to get more money for themselves. How can this be so if they don't actually own the club? If all they are getting is what is owed to them then surely the offer of £1 + pay off debt will be just as beneficial from their POV as a £50m takeover?

It's all very odd.

Not just very odd, extremely odd.

He seems to have got the idea that VIBRAC and MTI are related, not implausible they sound like MTIs sort of clients, and Samuelson is involved in some conspiracy to take the club over.

Definite one-eyedness about his sources.

Journalist is not the same as Accountant.
I am constantly surprised by how little people seem to understand some basic concepts in business and yet still want to have a view of how things are.
Debt, cash flow, gross profit, liquidity - they seem to be confusing to some.
As an example - the media frequently complain about XYZ company making billions in profit without ever considering the amount of capital involved in said business and the percentage of gross or net profit. Making billions seems easy to label as outrageous - because it is an easy headline for lazy journos. And this is mainstream BBC/ITV etc.
Tin-pot journos on Twitter should be ignored when it comes to matters like this as I doubt they have even the slightest understand of the situation.

[Ian Royal]

Tell me about it. I get that shizzle all the time. Although in fairness the profit margin is too high in my industry (probably). Still, X made £Ym profit is not a reason to get something you're not entitled to.

[loyalroyaldaz]

But im not trying to prove or claim anything.......
BTW do you have the accounts from 2013-2014 or only the ones that were published end of June 2013?

I'll give you two guesses, see if you can get it right. Shouldn't be hard, it's all on here.

That'll be a no then becuase they are not published until the end of this month.

[Royal Rother]

They won't be published for a few months yet (latest 1st December).

[Mid Sussex Royal]

If the parachute payments are going straight to Vibrac, which will thus presumably pay off the loan that was secured on the back of those payments, won't this mean that Vibrac are no longer creditors and therefore should have no further say in the sale?

This is what I don't understand, if we can pay the loan back we are within a month of being able to do so.

Which is exactly why i believe there much more to this than we have been privvy to.
And why i am beggining to believe what i was told about the club being mortgaged against all the parachute payments.
I am no financier by a long way but isnt it usually a case of if you default on a mortgage then the property it was secured against gets seized by the lender and subsequently sold off to pay the debt?

The Evening Post have suggested the £10m Vibrac are owed is secured by next seasons parachute payment due in August - but they are owed an additional £1.5m in interest which the club cannot repay.

[paddy20]

This is what I don't understand, if we can pay the loan back we are within a month of being able to do so.[/quote]

Which is exactly why i believe there much more to this than we have been privvy to.
And why i am beggining to believe what i was told about the club being mortgaged against all the parachute payments.
I am no financier by a long way but isnt it usually a case of if you default on a mortgage then the property it was secured against gets seized by the lender and subsequently sold off to pay the debt?[/quote]

The Evening Post have suggested the £10m Vibrac are owed is secured by next seasons parachute payment due in August - but they are owed an additional £1.5m in interest which the club cannot repay.[/quote]

JM just had enough. Cant tell me he couldn't find £1.5m and then choose Burman or Sagi to takeover. Think he has just given up the ghost and no longer has the stomach to fight on. Maybe we would be the same.

[Hendo]

apocalypse quote