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Post by Topper Gas on Mar 28, 2017 7:31:04 GMT
Surely "cleared" is cleared, I can;t see DS will be charging 1883 interest but you have to assume it's a debt somewhere in DS, it would be interesting to know what DS/1883's totla debts are now, probably the worse in the club's history but at least seem serviceable by the owners for a change.
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Finances
Mar 28, 2017 8:01:15 GMT
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Post by singupgas on Mar 28, 2017 8:01:15 GMT
Like to think DC is going to be given a good budget this summer. if we are serious about top 6 then we need to be proactive and bring in quality all over the pitch.
If we wait until the end of the window and pick up frees and loans again, you will have to wonder how serious we are.
The conference and league to we did very well to get out off without spending any money. League 1 would be a miracle.
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Post by simon1883 on Mar 28, 2017 9:51:33 GMT
DCs budget will be restricted by BRFC income. Hence all the talk of the stadium. I'm sure they will push it as close as they can but DC knows he's only got a limited pot to play with.
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Post by countygroundhotel on Mar 28, 2017 10:51:35 GMT
Are you saying 1883 Ltd own Dwane sports for MSP and the directors loans? otherwise if they have been moved to Dwane, why would they show on 1883 Ltds books? I am saying the MSP loan has been paid off by Dwane Sports and no longer resides in the accounts for BRFC.
The debt has not disappeared it is just not BRFC's responsibility. However, Dwane Sports will still want to be repaid that money, unless Wael and his family do not want repaying and this can only be achieved by the sale of The Mem. The outstanding Directors loans are still held on BRFC's accounts until such time as they are paid off, unless Dwane Sports have transferred that debt.
My understanding is that the Directors loans have still not been paid off in full, but I can ask NH again if I see him on Saturday.
Have been saying this for months & months but people don't want to hear it they'd rather believe in the Jordanian money tree that is financing everything. Expect to get to the AGM and hear about internal & extenal debts (just as NH used to talk about).
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Post by peterparker on Mar 28, 2017 11:38:23 GMT
I am saying the MSP loan has been paid off by Dwane Sports and no longer resides in the accounts for BRFC.
The debt has not disappeared it is just not BRFC's responsibility. However, Dwane Sports will still want to be repaid that money, unless Wael and his family do not want repaying and this can only be achieved by the sale of The Mem. The outstanding Directors loans are still held on BRFC's accounts until such time as they are paid off, unless Dwane Sports have transferred that debt.
My understanding is that the Directors loans have still not been paid off in full, but I can ask NH again if I see him on Saturday.
Have been saying this for months & months but people don't want to hear it they'd rather believe in the Jordanian money tree that is financing everything. Expect to get to the AGM and hear about internal & extenal debts (just as NH used to talk about). I agree entirely. Will be nice to see thing clarified and hopefully it will supress some of the more wishful thinking of some It was clearly stated the MSP debt was repaid as Dwane weren’t going to want to service the interest on it. How/When/If this will be collected from 1883ltd remains to be seen. The outgoing Directors will obviously have an agreement about how they will and how much they will be repaid The external/Internal debt thing is the key, much like Nick Higgs said in the past. What is important now is we appear to have people in charge who can finance things either through their own money, or access to investments via their contacts and day to day job as opposed to Nick Higgs having a limited supply No one is coming knocking for any money anytime soon and unless the Al-Qadi’s decided to bolt and demand their money back then I don’t think there is much need to panic over how any debt between 1883 and Dwane is serviced (yet)
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Post by knowall on Mar 28, 2017 11:41:06 GMT
Are you saying 1883 Ltd own Dwane sports for MSP and the directors loans? otherwise if they have been moved to Dwane, why would they show on 1883 Ltds books? I am saying the MSP loan has been paid off by Dwane Sports and no longer resides in the accounts for BRFC.
The debt has not disappeared it is just not BRFC's responsibility. However, Dwane Sports will still want to be repaid that money, unless Wael and his family do not want repaying and this can only be achieved by the sale of The Mem. The outstanding Directors loans are still held on BRFC's accounts until such time as they are paid off, unless Dwane Sports have transferred that debt.
My understanding is that the Directors loans have still not been paid off in full, but I can ask NH again if I see him on Saturday.
Three presumptions - suggest you ask the organ grinder - not the monkey!
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Post by Topper Gas on Mar 28, 2017 12:09:14 GMT
I am saying the MSP loan has been paid off by Dwane Sports and no longer resides in the accounts for BRFC.
The debt has not disappeared it is just not BRFC's responsibility. However, Dwane Sports will still want to be repaid that money, unless Wael and his family do not want repaying and this can only be achieved by the sale of The Mem. The outstanding Directors loans are still held on BRFC's accounts until such time as they are paid off, unless Dwane Sports have transferred that debt.
My understanding is that the Directors loans have still not been paid off in full, but I can ask NH again if I see him on Saturday.
Three presumptions - suggest you ask the organ grinder - not the monkey! Only marking in bold the first part of 7C's first presumption changes it somewhat? From a purely business/tax point of view it would make no sense just to clear the debt off the books. The last two are probably accurate given it's apparently info given out by NH? The big issue is what happens if a deal can't be brokered with the UWE, are the Al-Q's content to hang around for years waiting for Plan B to come to fruition whilst servicing the multi million debts/loans or will they look to cut their losses and then move on to their next project.
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Post by baggins on Mar 28, 2017 12:16:35 GMT
Three presumptions - suggest you ask the organ grinder - not the monkey! Only marking in bold the first part of 7C's first presumption changes it somewhat? From a purely business/tax point of view it would make no sense just to clear the debt off the books. The last two are probably accurate given it's apparently info given out by NH? The big issue is what happens if a deal can't be brokered with the UWE, are the Al-Q's content to hang around for years waiting for Plan B to come to fruition whilst servicing the multi million debts/loans or will they look to cut their losses and then move on to their next project. They'll stay. No worries.
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Finances
Mar 28, 2017 13:14:41 GMT
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Post by rambo on Mar 28, 2017 13:14:41 GMT
Filing deadline for the accounts is end of this month... so in 3 days time. I think?
Can't imagine the accounts will look great for year ended 2016 as we will have been paying interest on the loan for 7 (?) months of the year. Although income will be up.
2017 will hopefully show better results.
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Post by seanclevedongas on Mar 28, 2017 13:47:16 GMT
Wael has already confirmed
MSP loan paid off and gone - nobody owes anybody else for it
We will not make a trading profit this year
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Post by Henbury Gas on Mar 28, 2017 13:51:22 GMT
Wael has already confirmed MSP loan paid off and gone - nobody owes anybody else for it We will not make a trading profit this year They will make mega money if they started to use Clark's pies instead of the crap we have now
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Deleted
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Post by Deleted on Mar 28, 2017 13:59:41 GMT
Wael has already confirmed MSP loan paid off and gone - nobody owes anybody else for it We will not make a trading profit this year They will make mega money if they started to use Clark's pies instead of the crap we have now DC has a pie making business? Good man
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Post by Topper Gas on Mar 28, 2017 19:09:33 GMT
Wael has already confirmed MSP loan paid off and gone - nobody owes anybody else for it We will not make a trading profit this year Do you have a link to that announcement?
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Post by seanclevedongas on Mar 28, 2017 19:15:50 GMT
I don't have a link to a Q & A session but I am confident if you can be bothered to look you will find a thread where written commentary was made of the Q & A.
I respect Wael enough to believe him when he say's it.
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Post by garystash on Mar 28, 2017 20:12:42 GMT
I thought the Al-Qadi's (or more accurately Dwane Sports) bought 1883 by clearing the debts.
This means that repaying the MSP loan was part of the purchase cost and therefore part of the initial investment in the club.
Of course they will want a return on that investment, but I don't think that means it will be sat as a debt somewhere.
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Post by Topper Gas on Mar 29, 2017 7:37:47 GMT
I'd be surprised if any businessmen just wrote off a debt when they can offset it against profits elsewhere. Although I doubt it matters anyway as it's not going to bankrupt us and if the Al-Q's ever decide to move on they'll no doubt want to try and recoup their investment.
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Post by garystash on Mar 29, 2017 7:53:47 GMT
I'd be surprised if any businessmen just wrote off a debt when they can offset it against profits elsewhere. Although I doubt it matters anyway as it's not going to bankrupt us and if the Al-Q's ever decide to move on they'll no doubt want to try and recoup their investment. Well if it still exists I think the debt will show on Dwane Sports accounts and not 1883's. Dwane's - which we won't see - will have the debt on it's liabilities but would've added the Mem to it's assets. On 1883's accounts the opposite will be true - the MSP loan will have disappeared from the liabilities, but the Mem will have gone from the assets.
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stuart1974
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Post by stuart1974 on Mar 29, 2017 8:07:11 GMT
I've genuinely no idea but I'm going to make this thought anyway.
I suspect the cost of paying the loan, paying off the former owners and probably the cost of the training ground will eventually be covered by the sale of the Mem. The cost of building the UWE will be mostly, if not solely, paid for by investor money.
It wouldn't surprise me if the separate elements of the club (1883, training ground, UWE, etc) are set up under subsidiary companies within Dwane Sports in order to separate liabilities. Funds can be moved between them as necessary to maximise revenue.
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Post by knowall on Mar 29, 2017 13:02:07 GMT
Three presumptions - suggest you ask the organ grinder - not the monkey! Only marking in bold the first part of 7C's first presumption changes it somewhat? From a purely business/tax point of view it would make no sense just to clear the debt off the books. The last two are probably accurate given it's apparently info given out by NH? The big issue is what happens if a deal can't be brokered with the UWE, are the Al-Q's content to hang around for years waiting for Plan B to come to fruition whilst servicing the multi million debts/loans or will they look to cut their losses and then move on to their next project. If a deal with UWE is not brokered then it seems according to severncider it won't be the Al-Qadi's who are waiting but NH!!
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Post by Severncider on Mar 29, 2017 15:01:57 GMT
Only marking in bold the first part of 7C's first presumption changes it somewhat? From a purely business/tax point of view it would make no sense just to clear the debt off the books. The last two are probably accurate given it's apparently info given out by NH? The big issue is what happens if a deal can't be brokered with the UWE, are the Al-Q's content to hang around for years waiting for Plan B to come to fruition whilst servicing the multi million debts/loans or will they look to cut their losses and then move on to their next project. If a deal with UWE is not brokered then it seems according to severncider it won't be the Al-Qadi's who are waiting but NH!!?
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