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Post by Deleted on Apr 9, 2017 13:30:13 GMT
Quite happy to let someone else worry about BRFC and its finances. Pasties are still 20p yes? Don't get me started on the Pasties............
The Pasties have, by far and away, been the biggest let down of the entire season. Sack the Board!!!!!!!!!!
What, even bigger than Luke James..?
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Post by Hugo the Elder on Apr 9, 2017 14:04:48 GMT
Well, I'm fairly sure many assumed we were effectively debt free, yes. I'm certainly surprised to see we still owe 8M. Do these accounts indicate that we still own the ground then? I would suggest if we owe 8M and don't own the ground we are considerably worse off no? The investment section reveals that this company owns the stadium company. So, indirectly the answer is 'Yes' still own the ground. My understanding.... BRFC is in debt to DS to the tune of about 8mil. BRFC still currently own the ground and are using that as collateral to service the debt. So effectively should it all go tits up DS will "claim" the Mem. DS are attempting to build a ground which BRFC will then use and the Mem can be sold to clear our debts. Have I got that about right?
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Post by gasify on Apr 9, 2017 14:08:57 GMT
Quite happy to let someone else worry about BRFC and its finances. Pasties are still 20p yes? Don't get me started on the Pasties............
The Pasties have, by far and away, been the biggest let down of the entire season. Sack the Board!!!!!!!!!!
We could save thousands each game if we just serve them at a temperature that is edible.
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Post by gasify on Apr 9, 2017 14:11:28 GMT
The investment section reveals that this company owns the stadium company. So, indirectly the answer is 'Yes' still own the ground. My understanding.... BRFC is in debt to DS to the tune of about 8mil. BRFC still currently own the ground and are using that as collateral to service the debt. So effectively should it all go tits up DS will "claim" the Mem. DS are attempting to build a ground which BRFC will then use and the Mem can be sold to clear our debts. Have I got that about right? That pretty much sums up the situation.
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Post by Hugo the Elder on Apr 9, 2017 14:16:08 GMT
Thank you.
So, finance wise, it's more or less as we were under Higgs, except DS are making a lot less interest on the loan and have something more of an interest in seeing us succeed than MSP!
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Post by gasincider on Apr 9, 2017 14:17:27 GMT
The investment section reveals that this company owns the stadium company. So, indirectly the answer is 'Yes' still own the ground. My understanding.... BRFC is in debt to DS to the tune of about 8mil. BRFC still currently own the ground and are using that as collateral to service the debt. So effectively should it all go tits up DS will "claim" the Mem. DS are attempting to build a ground which BRFC will then use and the Mem can be sold to clear our debts. Have I got that about right? There is a little matter coming up of £50m approx to pay for a stadium and associated franchises. Chicken feed really for a Premier League team. So DC just has to get his finger out and get two more promotions. It's no good resting on his laurels after only getting two. Job half done DC. Wakes wakey.😇
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Post by gasincider on Apr 9, 2017 14:24:37 GMT
My understanding.... BRFC is in debt to DS to the tune of about 8mil. BRFC still currently own the ground and are using that as collateral to service the debt. So effectively should it all go tits up DS will "claim" the Mem. DS are attempting to build a ground which BRFC will then use and the Mem can be sold to clear our debts. Have I got that about right? The majority of the debt at the time of these accounts is owed to our ex directors, not Dwayne Sports. That is still the situation today. The ex directors will be paid off when the Mem is sold. As you say, the sale of the Mem will also clear the debt owed re MSP. But we will still be owing millions after that, as there will be our ongoing losses and the cost of the training ground. This is where the new new stadium comes in to generate the funding of the debt, and the repayments of the building costs.
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Post by swissgas on Apr 9, 2017 14:52:41 GMT
The accounts for BRFC 1883 Ltd show that Dwane Sports Ltd was providing the company with a credit facility of £10 million and £ 7.1 million of this was being used at 30.06.16. The total creditors, including Dwane Sports Ltd, amounted to £ 10.7 million and the Memorial stadium was valued in March 2017 at £11.1 million.
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Post by peterparker on Apr 9, 2017 15:05:23 GMT
Thank you. So, finance wise, it's more or less as we were under Higgs, except DS are making a lot less interest on the loan and have something more of an interest in seeing us succeed than MSP! One difference is we have owners that in theory can continue to finance the club
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Post by knowall on Apr 9, 2017 15:52:42 GMT
The majority of the debt at the time of these accounts is owed to our ex directors, not Dwayne Sports. That is still the situation today. The ex directors will be paid off when the Mem is sold. As you say, the sale of the Mem will also clear the debt owed re MSP. But we will still be owing millions after that, as there will be our ongoing losses and the cost of the training ground. This is where the new new stadium comes in to generate the funding of the debt, and the repayments of the building costs. Suggest you read the Accounts for Bristol Rovers (1883) Ltd to June 2016. And Land registry re Mem and stop peddling false facts Majority of debt is with DSports who own 92% of our Club
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Post by gregsy on Apr 9, 2017 16:33:47 GMT
I've just spent 20 mins trudging through this thread and i can safely say i don't understand any of it....
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Post by yategas78 on Apr 9, 2017 16:37:12 GMT
Yeah pretty bloody confusing one question are we skint or what!!
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Post by slam on Apr 9, 2017 16:41:49 GMT
Don't get me started on the Pasties............
The Pasties have, by far and away, been the biggest let down of the entire season. Sack the Board!!!!!!!!!!
What, even bigger than Luke James..? Yeah, a much bigger disappointment than Luke James. The pasties haven't got any discernable meat content and don't contribute to the day in any shape or form except, as someone else mentioned, they are so hot that they can be used as a hand warmer for a good 45 minutes on a cold day.
I actually think that Luke James is a good footballer - yes, I am a bit disappointed for him that he hasn't scored yet but I am one of those that think his day will come. The pasties on the other hand have had their day.
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Post by gaelgas on Apr 9, 2017 16:50:58 GMT
Yeah pretty bloody confusing one question are we skint or what!! Not as skint as a lot, and we still own our ground.
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Post by swissgas on Apr 9, 2017 17:10:12 GMT
Yeah pretty bloody confusing one question are we skint or what!! Dwane Sports Ltd provided Bristol Rovers 1883 Ltd with a credit line of £10 million and £ 7.1 million of this was being used at 30.6.16. If Rovers are continuing to lose money, and the quoted break even attendances of 15 000 suggests we are, then how much of the credit line is being used now ? Should we need to go above £ 10 million will Dwane Sports Ltd extend the credit line beyond the £ 11.1 million value of the Memorial Stadium ?
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Post by Topper Gas on Apr 9, 2017 18:56:15 GMT
Given it's the ALQ's continuing to run up the debts by employing extra backroom staff etc then it seems they are prepared to exceed the credit line? The ALQ's must have also willingly run up even further debts when they set up Dwane Sports Colony to purchase the training ground.
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Post by Strange Gas on Apr 9, 2017 19:23:11 GMT
Thank you. So, finance wise, it's more or less as we were under Higgs, except DS are making a lot less interest on the loan and have something more of an interest in seeing us succeed than MSP! One difference is we have owners that in theory can continue to finance the club I'd say it's slightly better than theory! They are financing the club, and investing in infrastucture for its sole benefit as of today. I know we should avoid seeing everything through rose tinted specs, but I'd really question what more people are expecting. As of today, things are good. Enjoy the ride!
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Post by gasify on Apr 9, 2017 19:46:08 GMT
Yeah pretty bloody confusing one question are we skint or what!! Yes. (But we knew that already). The owners of DS are not though......
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Post by LJG on Apr 9, 2017 19:53:18 GMT
Given it's the ALQ's continuing to run up the debts by employing extra backroom staff etc then it seems they are prepared to exceed the credit line? The ALQ's must have also willingly run up even further debts when they set up Dwane Sports Colony to purchase the training ground. B ... b ... b ... but you said Wael had to convince the other family members not to take their money out a ... a ... a ... and you said Hami had made an executive decision to tell the family to withdraw if UWE negotiations weren't concluded in August???
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Post by rambo on Apr 9, 2017 21:13:22 GMT
Listening to some on this thread is painful.
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