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Post by Captain Jayho on Mar 21, 2018 11:53:48 GMT
Then the new owner will pay it off The ability to find a new owner is going to depend on whether the level of debt is in any way commensurate with the club's assets and the value of the brand. So it seems a bit gung ho to assume that someone would be happy to buy the club and take on that debt if the debt continues to escalate and the club itself doesn't. Hopefully we do, but for mine it seems a bit of a bold strategy. Hopefully Wael and co have other plans, they are certainly playing their cards close to their collective Jordanian chests.
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Post by baggins on Mar 21, 2018 11:57:52 GMT
If you transfer the debt then you must have paid the original debt off It’s called refinancing or reconsolidating. There was no pay off, we are still in debt and more now than we ever have and we are still paying an interest rate to our owners for the privilege. We've always been in debt for as long as I can remember. As for no pay off, didn't we pay off the previous Directors loans? And you say "we" are paying off the debt back to the owners, this is the same owners who took on the debt in the first place yes? It all loses me a bit I have to say. Thank God it's not my money to worry about.
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Post by socrates on Mar 21, 2018 11:58:19 GMT
That's just semantics though Henbury. We still owe the money, in fact we now owe a lot more than we did under Higgs. The only upside in that area is that we're not paying wonga-esque levels of interest on a portion of it - at this point in time. And the loan isn't to Wonga who want it paid back within 24 months putting the club as serious risk of harm. I think we are al underestimating the situation we were in when the ALQs came in. Not all of us.
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Post by baggins on Mar 21, 2018 11:59:01 GMT
Then the new owner will pay it off The ability to find a new owner is going to depend on whether the level of debt is in any way commensurate with the club's assets and the value of the brand. So it seems a bit gung ho to assume that someone would be happy to buy the club and take on that debt if the debt continues to escalate and the club itself doesn't. Hopefully we do, but for mine it seems a bit of a bold strategy. Hopefully Wael and co have other plans, they are certainly playing their cards close to their collective Jordanian chests. We don't need a new owner though do we?
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Post by Captain Jayho on Mar 21, 2018 12:01:08 GMT
The ability to find a new owner is going to depend on whether the level of debt is in any way commensurate with the club's assets and the value of the brand. So it seems a bit gung ho to assume that someone would be happy to buy the club and take on that debt if the debt continues to escalate and the club itself doesn't. Hopefully we do, but for mine it seems a bit of a bold strategy. Hopefully Wael and co have other plans, they are certainly playing their cards close to their collective Jordanian chests. We don't need a new owner though do we? You'd better ask Henbury, he started it!
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Post by baggins on Mar 21, 2018 12:02:23 GMT
We don't need a new owner though do we? You'd better ask Henbury, he started it! He always does. Pain in the neck.
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Post by Captain Jayho on Mar 21, 2018 12:05:13 GMT
You'd better ask Henbury, he started it! He always does. Pain in the neck. Fortunately when greatness arrives all this will become clear anyway...
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Post by Henbury Gas on Mar 21, 2018 12:19:51 GMT
If you transfer the debt then you must have paid the original debt off It’s called refinancing or reconsolidating. There was no pay off, we are still in debt and more now than we ever have and we are still paying an interest rate to our owners for the privilege. So we still owe Wonga some money then ?
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Post by baggins on Mar 21, 2018 12:23:09 GMT
He always does. Pain in the neck. Fortunately when greatness arrives all this will become clear anyway... When greatness comes we'll all be getting plastered so won't care anyway.
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Post by Henbury Gas on Mar 21, 2018 12:24:08 GMT
He always does. Pain in the neck. Fortunately when greatness arrives all this will become clear anyway... Starts next week
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Marshy
Proper Gas
Posts: 14,128
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Post by Marshy on Mar 21, 2018 12:24:49 GMT
Fortunately when greatness arrives all this will become clear anyway... When greatness comes we'll all be getting plastered so won't care anyway. Greatness starts every Saturday at around midday.
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Post by baggins on Mar 21, 2018 12:25:50 GMT
When greatness comes we'll all be getting plastered so won't care anyway. Greatness starts every Saturday at around midday. Late starter huh.
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Marshy
Proper Gas
Posts: 14,128
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Post by Marshy on Mar 21, 2018 12:30:53 GMT
Greatness starts every Saturday at around midday. Late starter huh. I was last week, I soon caught up though and was mullered by 5pm.
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Post by baggins on Mar 21, 2018 12:33:05 GMT
I was last week, I soon caught up though and was mullered by 5pm. Late starter and a lightweight.
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Marshy
Proper Gas
Posts: 14,128
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Post by Marshy on Mar 21, 2018 12:41:06 GMT
I was last week, I soon caught up though and was mullered by 5pm. Late starter and a lightweight. Correct.
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Post by CheshireGas on Mar 21, 2018 13:03:13 GMT
If you transfer the debt then you must have paid the original debt off It’s called refinancing or reconsolidating. Refinance is when a company rearranges/restructures/re-banks its own debt. In this case a new owner came in, repaid the debt to the bridging finance company (which was at extortionate rates and the Mem charged to them and came close to foreclosing), lent the company (1883) funds from its own resources and took a charge over the company but not at Wonga rates.... Not sure what you mean by reconsolidating....not a term I have heard or used in financial circumstances. If you mean consolidation then that is something altogether different.
There was no pay off, we are still in debt and more now than we ever have and we are still paying an interest rate to our owners for the privilege. Who is this 'we' you refer to? Do you owe the company money... Of course we are paying interest on the loan, that is quite normal but at least it is going to our owners. Higgs got his money back, and the new owners paid it. Would you expect them to write off the debts?Many people are getting excited about the club going down the drain because they are not in the know or told by the owners of their every move.... I think it is more secure now than it has been for a while. I also expect the current owners have a long term strategy that they are not going to tell fans about, from their background and nature I would expect that. Also the constant drip feeding of inside information and (often) fake news to fans plus a few lies thrown in as happened in the past has now ceased, thank goodness. There are few clubs that have not been able to get new owners even following administration and I would rather have the professional if somewhat benign leadership we have now than the cocksure, defensive, threatening, rumour mongering sort of people we have often had in the past, even if they were 'supporters'....
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Post by baggins on Mar 21, 2018 13:06:19 GMT
It’s called refinancing or reconsolidating. Refinance is when a company rearranges/restructures/re-banks its own debt. In this case a new owner came in, repaid the debt to the bridging finance company (which was at extortionate rates and the Mem charged to them and came close to foreclosing), lent the company (1883) funds from its own resources and took a charge over the company but not at Wonga rates.... Not sure what you mean by reconsolidating....not a term I have heard or used in financial circumstances. If you mean consolidation then that is something altogether different.
There was no pay off, we are still in debt and more now than we ever have and we are still paying an interest rate to our owners for the privilege. Who is this 'we' you refer to? Do you owe the company money... Of course we are paying interest on the loan, that is quite normal but at least it is going to our owners. Higgs got his money back, and the new owners paid it. Would you expect them to write off the debts?Many people are getting excited about the club going down the drain because they are not in the know or told by the owners of their every move.... I think it is more secure now than it has been for a while. I also expect the current owners have a long term strategy that they are not going to tell fans about, from their background and nature I would expect that. Also the constant drip feeding of inside information and (often) fake news to fans plus a few lies thrown in as happened in the past has now ceased, thank goodness. There are few clubs that have not been able to get new owners even following administration and I would rather have the professional if somewhat benign leadership we have now than the cocksure, defensive, threatening, rumour mongering sort of people we have often had in the past, even if they were 'supporters'.... This.
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Post by stuart1974 on Mar 21, 2018 13:12:16 GMT
It’s called refinancing or reconsolidating. Refinance is when a company rearranges/restructures/re-banks its own debt. In this case a new owner came in, repaid the debt to the bridging finance company (which was at extortionate rates and the Mem charged to them and came close to foreclosing), lent the company (1883) funds from its own resources and took a charge over the company but not at Wonga rates.... Not sure what you mean by reconsolidating....not a term I have heard or used in financial circumstances. If you mean consolidation then that is something altogether different.
There was no pay off, we are still in debt and more now than we ever have and we are still paying an interest rate to our owners for the privilege. Who is this 'we' you refer to? Do you owe the company money... Of course we are paying interest on the loan, that is quite normal but at least it is going to our owners. Higgs got his money back, and the new owners paid it. Would you expect them to write off the debts?Many people are getting excited about the club going down the drain because they are not in the know or told by the owners of their every move.... I think it is more secure now than it has been for a while. I also expect the current owners have a long term strategy that they are not going to tell fans about, from their background and nature I would expect that. Also the constant drip feeding of inside information and (often) fake news to fans plus a few lies thrown in as happened in the past has now ceased, thank goodness. There are few clubs that have not been able to get new owners even following administration and I would rather have the professional if somewhat benign leadership we have now than the cocksure, defensive, threatening, rumour mongering sort of people we have often had in the past, even if they were 'supporters'.... Such a shame that I have but one 'like' to give you.
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Post by Squiffy on Mar 21, 2018 13:21:35 GMT
The only way the owners can demonstrate real intent is to buy Rich a proper bus. 🚎👏😊
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Deleted
Deleted Member
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Post by Deleted on Mar 21, 2018 17:49:25 GMT
30 years ago the only things the club owned were player contracts and enough bits n bobs and kit to fill the back of an estate car. The club trained at Keynsham on amateur football pitches and played in Bath at a non league ground.
The club has come along way.
The club will be spending more on its training ground (purchase and build) than it has spent on anything else ever (including the Mem) That in itself is a massive step forward.
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