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Post by Langford Gas on Sept 3, 2016 5:40:18 GMT
As I said there's no real evidence he's spent any of his own money, the loans of gone from BRFC 1883's books but they could just as easy be now sat on Dwane Sports, as they must exist for some reason. As far as paying for meals etc whilst it's good to hear that's now happening given the increased attendances/season ticket they are probably paying for themselves. The club now seems to be far better run but that's not difficult given how poorly it seems money will need to be spent, let's hope Wael's prepared to spend it. I would not of thought the "Wonga" loan could be sat anywhere else, as that as far as I am aware was secured against the Mem. Unless they have offered security for it elsewhere it must be cleared. |
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Post by garystash on Sept 3, 2016 7:00:17 GMT
As I said there's no real evidence he's spent any of his own money, the loans of gone from BRFC 1883's books but they could just as easy be now sat on Dwane Sports, as they must exist for some reason. As far as paying for meals etc whilst it's good to hear that's now happening given the increased attendances/season ticket they are probably paying for themselves. The club now seems to be far better run but that's not difficult given how poorly it seems money will need to be spent, let's hope Wael's prepared to spend it. I would not of thought the "Wonga" loan could be sat anywhere else, as that as far as I am aware was secured against the Mem. Unless they have offered security for it elsewhere it must be cleared. I think Wonga have been paid, however Dwayne Sports would have borrowed the money to do so from elsewhere. Where? I don't know. I would guess from the Al-Qadis. Wherever it's from I'm sure it's at a more manageable rate of interest than Wonga, and that the lender isn't going to force the sale of the Mem to get their money back. |
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Post by Deleted on Sept 3, 2016 8:07:01 GMT
I would not of thought the "Wonga" loan could be sat anywhere else, as that as far as I am aware was secured against the Mem. Unless they have offered security for it elsewhere it must be cleared. I think Wonga have been paid, however Dwayne Sports would have borrowed the money to do so from elsewhere. Where? I don't know. I would guess from the Al-Qadis. Wherever it's from I'm sure it's at a more manageable rate of interest than Wonga, and that the lender isn't going to force the sale of the Mem to get their money back. I would have thought this to be correct as even tho the Football Club has no debts, Dwane Sports do. Hence Wael has written off the debts but transferred them to the new company. Its the tax effeciant/effect ant way to defer/clear debts etc. |
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Post by 2nd May 1990 on Sept 3, 2016 8:21:23 GMT
I know nothing about these legal matters of ownership, but if it all goes tits up, the debt is not with Bristol Rovers football club, which surely must be a good thing?
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Post by bluegas on Sept 3, 2016 9:15:56 GMT
For me the jury is still out on the new ownership. Seems the manner in which the club has been taken over is a much scaled-down version of what the Glazer's did at Man U. Not saying that's an entirely negative thing because it could work out well; it's just at the moment he hasn't really stumped up any of his personal cash since our increased attendances has pretty much covered recent expenditure. The ket factor as far as ownership success is concerned (in my option) is if the UWE can be pulled out the hat. One thing I've not seen mentioned anywhere - Wael is the football fan. Haven't seen any reference to any others of his family being so. Probably they're letting him indulge his passion. He has to justify it to them. He can't throw their money (as much as his) about willy-nilly. Whatever, suits me & glad/grateful we're where we are. Just hope I live long enough to see the outcome! |
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Post by xplosivgas on Sept 3, 2016 9:22:46 GMT
I know nothing about these legal matters of ownership, but if it all goes tits up, the debt is not with Bristol Rovers football club, which surely must be a good thing? I guess it sounds better. But I suppose if our owner owns both BRFC and Dwain, it's a bit like having two bank accounts with one in credit and the other in overdraft. As owner of both accounts he is free to move funds from one to another as he wishes. |
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Post by Antonio Fargas on Sept 3, 2016 10:18:24 GMT
He has to justify it to them. He can't throw their money (as much as his) about willy-nilly. Erm, yeah, Wael did get loads of value when he bought the club and it will make him a huge profit. |
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Post by Topper Gas on Sept 3, 2016 12:51:23 GMT
I think Wonga have been paid, however Dwayne Sports would have borrowed the money to do so from elsewhere. Where? I don't know. I would guess from the Al-Qadis. Wherever it's from I'm sure it's at a more manageable rate of interest than Wonga, and that the lender isn't going to force the sale of the Mem to get their money back. I would have thought this to be correct as even tho the Football Club has no debts, Dwane Sports do. Hence Wael has written off the debts but transferred them to the new company. Its the tax effeciant/effect ant way to defer/clear debts etc. Unless we're now making big profits how can it be tax efficient, as a company doesn't pay tax on it's losses? I can't understand why Dwane Sports exists, is it a tax saving vehicle for the future if we ever make any big profits (when we sell the Mem?) or just to hide BRFC1883's true financial position, it's a bit of a mystery. |
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Post by Deleted on Sept 3, 2016 13:08:25 GMT
I would have thought this to be correct as even tho the Football Club has no debts, Dwane Sports do. Hence Wael has written off the debts but transferred them to the new company. Its the tax effeciant/effect ant way to defer/clear debts etc. Unless we're now making big profits how can it be tax efficient, as a company doesn't pay tax on it's losses? I can't understand why Dwane Sports exists, is it a tax saving vehicle for the future if we ever make any big profits (when we sell the Mem?) or just to hide BRFC1883's true financial position, it's a bit of a mystery. It would be a mystery wouldn't it... |
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Post by bluegas on Sept 3, 2016 14:07:55 GMT
He has to justify it to them. He can't throw their money (as much as his) about willy-nilly. Erm, yeah, Wael did get loads of value when he bought the club and it will make him a huge profit. [br) I think you may have read it the same way as I did...,. & I'm banking on none of them reading this forum!!!! But it read like he was trying to justify himself. Anyway, we'll soon be making fat profits...... |
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Post by beaver132 on Sept 3, 2016 18:02:46 GMT
I would have thought this to be correct as even tho the Football Club has no debts, Dwane Sports do. Hence Wael has written off the debts but transferred them to the new company. Its the tax effeciant/effect ant way to defer/clear debts etc. Unless we're now making big profits how can it be tax efficient, as a company doesn't pay tax on it's losses? I can't understand why Dwane Sports exists, is it a tax saving vehicle for the future if we ever make any big profits (when we sell the Mem?) or just to hide BRFC1883's true financial position, it's a bit of a mystery. You're able to carry losses through year on year,and thus reduce any taxable profits you may make in the subsequent years. |
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