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Post by rovers5charlton5 on Jun 23, 2017 17:42:50 GMT
You can do a lot with £10 million.
Thanks Al qadis ☺️
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Post by mariobalotelli on Jun 23, 2017 17:44:28 GMT
So have they took a loan of up to £10M and secured it against the Mem, or loaned us up to £10M and secured it against the Mem?
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Post by bluestone on Jun 23, 2017 17:54:08 GMT
Wow, that really is a top 6 budget.... No wonder Daryll signed 5 year deal!!!!
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Post by dinsdale on Jun 23, 2017 19:02:53 GMT
When Higgs and the clowns left we owed about £10m. The new board paid it off on the basis that its repaid when we sell the mem simples.
Just a shame they are stating Dwayne sports Are based on jersey as we lose the moral high ground some what with the red nonces
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Post by gashead987 on Jun 23, 2017 19:17:23 GMT
Just had a look at the accounts year end June 2016, and see that Dwane Sports (Wael's company) were owed £7.2m at that point. It may therefore simply be that they've taken security against these monies owed to them,which may include further losses since June '16? Hope I'm wrong, as it would be nice for DC to have £10m to spend!!
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Post by gasstrictband on Jun 23, 2017 19:43:18 GMT
The last song too be played at the MEM, MOVING SUPERGRASS.
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pirate
Forum Legend
Posts: 19,355
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Post by pirate on Jun 23, 2017 19:50:04 GMT
Money - Pink Floyd
Money, get away Get a good job with more pay and you're O.K. Money, it's a gas Grab that cash with both hands and make a stash New car, caviar, four star daydream, Think I'll buy me a football team
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Post by countygroundhotel on Jun 23, 2017 19:57:30 GMT
Dwane Sports have given £10m credit to BRFC 1883. Jolly kind of them. "In accordance with the provisions of the Revolving Credit Facility Agreement dated 18 February 2016 made between the Lender and the Borrower."
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Post by countygroundhotel on Jun 23, 2017 20:00:49 GMT
Dwane Sports have given £10m credit to BRFC 1883. Jolly kind of them. "In accordance with the provisions of the Revolving Credit Facility Agreement dated 18 February 2016 made between the Lender and the Borrower."
Who'd of thunk it? Except for the few of us who said exactly that when the last set of accounts were released.
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Post by chippenhamgas on Jun 23, 2017 20:09:58 GMT
"In accordance with the provisions of the Revolving Credit Facility Agreement dated 18 February 2016 made between the Lender and the Borrower."
Who'd of thunk it? Except for the few of us who said exactly that when the last set of accounts were released. Yep and were shouted down as usual. The debt has been moved and is secured against our only asset, and the equity will be reducing every year as the losses pile up.
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Deleted
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Post by Deleted on Jun 23, 2017 20:13:28 GMT
Should we be concerned?
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Post by chippenhamgas on Jun 23, 2017 20:15:55 GMT
Maybe not if the uwe goes ahead and the club starts making money from it. But if it doesn't and the al quadis lose interest they will still own a piece of real estate. They are protecting themselves.
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Post by Dirt Dogg on Jun 23, 2017 20:18:40 GMT
Money has been borrowed by BRFC from Dwayne Sports.
Basically, if you're going to be in debt to someone make sure it's your owners..
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Post by chippenhamgas on Jun 23, 2017 20:24:19 GMT
Unless your owners get cold feet.
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Post by swissgas on Jun 23, 2017 20:28:53 GMT
Money has been borrowed by BRFC from Dwayne Sports. But who have Dwane Sports borrowed it from ?
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Post by chippenhamgas on Jun 23, 2017 20:30:27 GMT
Money has been borrowed by BRFC from Dwayne Sports. But who have Dwane Sports borrowed it from ? A bank in Jordan?
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Post by garystash on Jun 23, 2017 20:32:43 GMT
Money has been borrowed by BRFC from Dwayne Sports. But who have Dwane Sports borrowed it from ? Now that, is an excellent question!
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Post by Captain Jayho on Jun 23, 2017 20:35:35 GMT
Who'd of thunk it? Except for the few of us who said exactly that when the last set of accounts were released. Yep and were shouted down as usual. The debt has been moved and is secured against our only asset, and the equity will be reducing every year as the losses pile up. At the rate this is moving you won't need to wait long until there is no equity left. But I'm sure it's all fine...
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Post by aghast on Jun 23, 2017 20:37:21 GMT
Well the money for 10 new players, DC's truly massive new salary, and all the other things we don't know about yet have come from somewhere.
BRFC 1883 don't make profits to fund all this.
So our modestly rich owners lend it to the club, and have the Mem as a fallback if it all goes wrong.
Much better than a Wonga loan, and no need to be concerned, imo.
If it all goes wrong, then we will be shafted, but at least Dwane Sports want to get us our new stadium. Some outside creditors would have no interest at all in that.
As to who Dwane Sports have borrowed it from, then the most likely answer is the family bank, but it might be Cash U Like for all I know.
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Deleted
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Post by Deleted on Jun 23, 2017 20:41:27 GMT
Well the money for 10 new players, DC's truly massive new salary, and all the other things we don't know about yet have come from somewhere. BRFC 1883 don't make profits to fund all this. So our modestly rich owners lend it to the club, and have the Mem as a fallback if it all goes wrong. Much better than a Wonga loan, and no need to be concerned, imo. If it all goes wrong, then we will be shafted, but at least Dwane Sports want to get us our new stadium. Some outside creditors would have no interest at all in that. As to who Dwane Sports have borrowed it from, then the most likely answer is the family bank, but it might be Cash U Like for all I know. They don't own the bank - they're shareholders.
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