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Box 1
Apr 3, 2016 17:09:04 GMT
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Post by mclovin1883 on Apr 3, 2016 17:09:04 GMT
Seen higgs after the game walking through the car park with a big smirk on his face all those pound signs flashing in front of his eyes probably
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Post by garygas on Apr 3, 2016 17:45:36 GMT
Do you mean Mr Walter Tight ?
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Post by socrates on Apr 3, 2016 17:49:57 GMT
Seen higgs after the game walking through the car park with a big smirk on his face all those pound signs flashing in front of his eyes probably Well he got his money back and the club are doing well on the pitch and it looks like he's left the club in good hands off it too so he's got every reason to be over the moon hasn't he. Two things that obviously mean a lot to Higgs are Rovers and Money. Poor chairman but Rovers through and through.
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Post by Hugo the Elder on Apr 3, 2016 18:08:00 GMT
Seen higgs after the game walking through the car park with a big smirk on his face all those pound signs flashing in front of his eyes probably Well he got his money back and the club are doing well on the pitch and it looks like he's left the club in good hands off it too so he's got every reason to be over the moon hasn't he. Two things that obviously mean a lot to Higgs are Rovers and Money. Poor chairman but Rovers through and through. He got his money back?? B..b...but...I was told he'd invested millions all out of his pocket money. :S
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Box 1
Apr 3, 2016 18:29:21 GMT
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Post by socrates on Apr 3, 2016 18:29:21 GMT
Well he got his money back and the club are doing well on the pitch and it looks like he's left the club in good hands off it too so he's got every reason to be over the moon hasn't he. Two things that obviously mean a lot to Higgs are Rovers and Money. Poor chairman but Rovers through and through. He got his money back?? B..b...but...I was told he'd invested millions all out of his pocket money. :S Well I don't know for sure but I think he put a lot of his own money in and got it back when the club was sold.
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Post by countygroundhotel on Apr 3, 2016 18:37:45 GMT
Seen higgs after the game walking through the car park with a big smirk on his face all those pound signs flashing in front of his eyes probably Well he got his money back and the club are doing well on the pitch and it looks like he's left the club in good hands off it too so he's got every reason to be over the moon hasn't he. Two things that obviously mean a lot to Higgs are Rovers and Money. Poor chairman but Rovers through and through. Can you fill us in on all the details of the deal between the old old & new owners? I'm guessing no & you know absolutely f**k all about the deal just like me. I'm guessing that the old shareholders got something back but not there full investment. But hey that's not playing to the crowd is it.
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Post by yategas78 on Apr 3, 2016 18:55:02 GMT
Got to give NH some credit he put his money in but unfortunately he got taken in by a land blocking Retailer who never had any intention of buying the MEM one things for sure no other cub will be taken in by the likes of Shamesburies again!!
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Post by Topper Gas on Apr 3, 2016 19:56:32 GMT
I wouldn't wager on that!
Fair play to NH for still turning up to support the team each week, I'm not sure why fans need to keep taking cheap shots at him as after yesterday's result most of us had big smirks on our faces at the end!
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Post by c4h10 on Apr 3, 2016 20:32:07 GMT
Got to give NH some credit he put his money in but unfortunately he got taken in by a land blocking Retailer who never had any intention of buying the MEM one things for sure no other cub will be taken in by the likes of Shamesburies again!! Nor this shopper for one. Was a regular, but haven't crossed their threshold since the first sign of reneg on the agreement. Hope plenty of others feel the same.
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Post by aghast on Apr 3, 2016 20:44:16 GMT
I'm mystified as to who owes who. If the new owners paid off NH and the other directors, and MSP, then perhaps £8m to the old board and £2.3m to MSP left a bank account and was transferred to those recipients.
So £10.3m (or whatever) is a debt or payment or liability which someone will at some point want repaying.
Do BRFC (1883) owe Dwayne Sports £10m? Or do Dwayne Sports, as the owners of the club and hence the owners of the debt, owe £10m to a bank? Perhaps WAQ's father's bank? Or someone else?
Perhaps it doesn't matter. It's all been done for the short-term good of the club with a view to improving the long-term financial health of the club. Or Dwayne. But someone has paid out a lot of cash to make us debt free (I think), and I'd be more content if I knew how it worked.
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Post by phillistine on Apr 3, 2016 21:24:51 GMT
Nick Higgs was in the East Stand in tea shirt and jeans with his mates and no-one seemed to take much notice -if they recognised him. I bet heis glad to be enjoying his football again
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Box 1
Apr 3, 2016 21:32:46 GMT
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Post by chippenhamgas on Apr 3, 2016 21:32:46 GMT
I'm mystified as to who owes who. If the new owners paid off NH and the other directors, and MSP, then perhaps £8m to the old board and £2.3m to MSP left a bank account and was transferred to those recipients. So £10.3m (or whatever) is a debt or payment or liability which someone will at some point want repaying. Do BRFC (1883) owe Dwayne Sports £10m? Or do Dwayne Sports, as the owners of the club and hence the owners of the debt, owe £10m to a bank? Perhaps WAQ's father's bank? Or someone else? Perhaps it doesn't matter. It's all been done for the short-term good of the club with a view to improving the long-term financial health of the club. Or Dwayne. But someone has paid out a lot of cash to make us debt free (I think), and I'd be more content if I knew how it worked. I very much doubt higgs and co got all their money back, perhaps 50-70%, so that's around 3-4m which i imagine was paid for by the al qadi's. The MSP loan i expect was restructured and shifted somewhere else at a lower interest rate but underwritten by the new board. We won't know till next year's accounts are public.
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Post by Okebournegas on Apr 4, 2016 7:36:24 GMT
Well he got his money back and the club are doing well on the pitch and it looks like he's left the club in good hands off it too so he's got every reason to be over the moon hasn't he. Two things that obviously mean a lot to Higgs are Rovers and Money. Poor chairman but Rovers through and through. Can you fill us in on all the details of the deal between the old old & new owners? I'm guessing no & you know absolutely f**k all about the deal just like me. I'm guessing that the old shareholders got something back but not there full investment. But hey that's not playing to the crowd is it. Without trying to sound obnoxious here is there really any need to speak to a fellow poster like that? He's just giving his opinion in the same way as you are entitled to give an opinion , please don't take this the wrong way but I can see why people would potentially be put off posting reading a comment like that it comes across like you have a major chip on your shoulder when you probably don't . Just saying
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Post by Topper Gas on Apr 4, 2016 7:45:07 GMT
I'm mystified as to who owes who. If the new owners paid off NH and the other directors, and MSP, then perhaps £8m to the old board and £2.3m to MSP left a bank account and was transferred to those recipients. So £10.3m (or whatever) is a debt or payment or liability which someone will at some point want repaying. Do BRFC (1883) owe Dwayne Sports £10m? Or do Dwayne Sports, as the owners of the club and hence the owners of the debt, owe £10m to a bank? Perhaps WAQ's father's bank? Or someone else? Perhaps it doesn't matter. It's all been done for the short-term good of the club with a view to improving the long-term financial health of the club. Or Dwayne. But someone has paid out a lot of cash to make us debt free (I think), and I'd be more content if I knew how it worked. I guess there's also the possibility the Al-Qadi's just bought the club with loose change they had lying in one of their bank accounts and we really are now debt free? I know it sounds too good to be true but perhaps £10m is nothing to a billioniare family?
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Box 1
Apr 4, 2016 9:05:10 GMT
Post by stuart1974 on Apr 4, 2016 9:05:10 GMT
I'm mystified as to who owes who. If the new owners paid off NH and the other directors, and MSP, then perhaps £8m to the old board and £2.3m to MSP left a bank account and was transferred to those recipients. So £10.3m (or whatever) is a debt or payment or liability which someone will at some point want repaying. Do BRFC (1883) owe Dwayne Sports £10m? Or do Dwayne Sports, as the owners of the club and hence the owners of the debt, owe £10m to a bank? Perhaps WAQ's father's bank? Or someone else? Perhaps it doesn't matter. It's all been done for the short-term good of the club with a view to improving the long-term financial health of the club. Or Dwayne. But someone has paid out a lot of cash to make us debt free (I think), and I'd be more content if I knew how it worked. It's been a while since I did my accountancy courses so bear with me. I suspect that Dwane Sports was set up to consolidate Rovers debts away from the club directly. It would have been incorporated with a working capital from the al Qadi family or an in house bank loan. That capital would have been used to buy the shares and cover the loan. Being capital it is still 'owed' to the owner so in theory Wael will account for this as an asset as he is technically owed it by Dwane Sports. Therefore the al Qadi family is not out of pocket as they are owed money from Dwane Sports and Rovers are debt free as they have been covered by Dwane Sports. Only Dwane Sports are in debt.
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Box 1
Apr 4, 2016 9:18:06 GMT
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Post by socrates on Apr 4, 2016 9:18:06 GMT
I'm mystified as to who owes who. If the new owners paid off NH and the other directors, and MSP, then perhaps £8m to the old board and £2.3m to MSP left a bank account and was transferred to those recipients. So £10.3m (or whatever) is a debt or payment or liability which someone will at some point want repaying. Do BRFC (1883) owe Dwayne Sports £10m? Or do Dwayne Sports, as the owners of the club and hence the owners of the debt, owe £10m to a bank? Perhaps WAQ's father's bank? Or someone else? Perhaps it doesn't matter. It's all been done for the short-term good of the club with a view to improving the long-term financial health of the club. Or Dwayne. But someone has paid out a lot of cash to make us debt free (I think), and I'd be more content if I knew how it worked. It's been a while since I did my accountancy courses so bear with me. I suspect that Dwane Sports was set up to consolidate Rovers debts away from the club directly. It would have been incorporated with a working capital from the al Qadi family or an in house bank loan. That capital would have been used to buy the shares and cover the loan. Being capital it is still 'owed' to the owner so in theory Wael will account for this as an asset as he is technically owed it by Dwane Sports. Therefore the al Qadi family is not out of pocket as they are owed money from Dwane Sports and Rovers are debt free as they have been covered by Dwane Sports. Only Dwane Sports are in debt. Sounds good. I'm just happy that we're financially stable at long last and doing well on the pitch too. Even though writing this it still seems like it must all be too good to be true.
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Box 1
Apr 4, 2016 10:02:22 GMT
Post by stuart1974 on Apr 4, 2016 10:02:22 GMT
I'm mystified as to who owes who. If the new owners paid off NH and the other directors, and MSP, then perhaps £8m to the old board and £2.3m to MSP left a bank account and was transferred to those recipients. So £10.3m (or whatever) is a debt or payment or liability which someone will at some point want repaying. Do BRFC (1883) owe Dwayne Sports £10m? Or do Dwayne Sports, as the owners of the club and hence the owners of the debt, owe £10m to a bank? Perhaps WAQ's father's bank? Or someone else? Perhaps it doesn't matter. It's all been done for the short-term good of the club with a view to improving the long-term financial health of the club. Or Dwayne. But someone has paid out a lot of cash to make us debt free (I think), and I'd be more content if I knew how it worked. I very much doubt higgs and co got all their money back, perhaps 50-70%, so that's around 3-4m which i imagine was paid for by the al qadi's. The MSP loan i expect was restructured and shifted somewhere else at a lower interest rate but underwritten by the new board. We won't know till next year's accounts are public. My understanding, limited as it is, is that the board would have got back the price of their shares plus a premium for the intangible assets such as our name and fan base which is difficult to value. The share price would be the value of the club (assets less liabilities such as the loans) while the intangibles is what Wael was prepared to pay. Could explain why NH traded loans for shares, although diluting the share holding it meant the club was more valuable in terms of fewer liabilities and therefore the price per share was higher.
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