Financial situation, doom & gloom reports etc

[sonsofthedesert]

I'm with you on this one. It makes perfect sense to borrow against the stadium, as it is a tangible asset (thus provides collateral) and promises steady future cash flows. However, accoring to the report, this debt has nothing to do with the stadium. They would want to secure the debt against something.

It is feasible that they would seek to secure it against future revenues (in which case, G&H are merely capitalising future revenues for spending now which is not entirely inappropriate), however, in the current financial climate I don't see RBS giving us an unsecured loan of that size. And it begs the question - what revenues? The ticket sales are funding the stadium (and the ticket sales contributed to the £30m revenue last year).

This is what I wanted to say but couldn't.

[Rocket]

Yeah, cos you're not one to talk ill-thought out nonsense are you? :whatever:

haha.

yes, lets listen to AFII talk about accounting shall we?

and then rant about our american owners

[Rocket]

I am saying that the £500m is believable but I can't see RBS being willing to lend us £800m at the mo as we wont be able to get the extra revenue 3 and a half years to pay it.

i agree

nobody will lend you money at a feasible rate without security

[sonsofthedesert]

haha.

yes, lets listen to AFII talk about accounting shall we?

and then rant about our american owners

At least you know who your betters are within the accounting industry.

[Rocket]

At least you know who your betters are within the accounting industry.

fella, i rarely get involved in alot of football stuff, because alot of it is very subjective, but when people speak rubbish about finance related issues, i can't resist.

what people don't seem to realise often, is debt isn't a bad thing, it is often the best form of financing.

[stringy]

good post

but don't let the media hype not scare people, it's got to be true, it was on bloomberg

It was also in the sunday times business section. Not very well known for bull!

[Roboklopp]

haha.

yes, lets listen to AFII talk about accounting shall we?

and then rant about our american owners

Seeing as you are obviously holding yourself up as the rational juxtaposition to his inane babblings, to be honest I pay little heed to either of your extremist viewpoints.

However it is the promises & grand gestures the septics have made then reneged on & the fact that there is something untoward with regards to their treatment of Rafa no matter how small or large it is that disturb me so.

As I've said elsewhere, had they not chucked $s around on telly & aired the HKS "best stadium in the world" to the whole universe, then I'm sure most would have been more than happy with the 70k re-redesign & the players we bought in the summer. However, they were quick to arrive with great ostentation & now everything is looking like it was done in a hasty ill-informed & ill-judged manner. That worries me on a solely commerical level at least.

[barnes10]

they are liars. they are not willing or able to live up to the promises they made to take control of our once great club.

they are con arists and can't fulfil what they tell us. fook them.

and don't start with 'but they backed rafa to buy torres' crap. we spent a net of 25-30 mill this summer and that is after getting to the CL final.

sure i may be shouting my mouth off too soon and i hope to god im wrong but until i see otherwise then they are a pair of schysters who think they can treat us like @rseholes.

[Roboklopp]

what people don't seem to realise often, is debt isn't a bad thing, it is often the best form of financing.

I have no arguments here- I wokr in finance too. It is the level & nature of the debt I am beginning to be concerned about in light of my above points.

[sonsofthedesert]

It was also in the sunday times business section. Not very well known for bull!

You will find that this is the only source, bloomberg just quoted them. The times said they couldn't contact G&H, bloomberg said that Ian Cotton didn't return their call immdeiatly. He may have returned the call 5 mins after the article was posted though. The article is full of **** with no sources.

[FatTony]

fella, i rarely get involved in alot of football stuff, because alot of it is very subjective, but when people speak rubbish about finance related issues, i can't resist.

what people don't seem to realise often, is debt isn't a bad thing, it is often the best form of financing.

I think people are worried because of everything that's happened recently. The worries now about limited transfer funds, our superb new stadium plans being pulled from under our feet in front of the worlds media and a very public fallout.

If you'd listened to some of the rubbish which was coming out of their mouths when they took over, money was no object. They're doing a very good job of making themselves look like cowboys.

[Roboklopp]

I think people are worried because of everything that's happened recently. The worries now about limited transfer funds, our superb new stadium plans being pulled from under our feet in front of the worlds media and a very public fallout.

If you'd listened to some of the rubbish which was coming out of their mouths when they took over, money was no object. They're doing a very good job of making themselves look like cowboys.

Succintly put.

[FatTony]

Succintly put.

I am a man of few words....most of it ****e.

[Tom]

The problem we have is that they've come in promising all sorts. I'm sure they did this with parry and moores to secure the deal and get their hands on the club.

Key to this:

1) They said they wouldn't laden the club with debt (looks like they are going to)
2) Rafa would be properly supported - he clearly isn't being.

To paraphrase Goebbels: "If you tell a lie big enough and keep repeating it people will believe it".

Truth is obviously a fluid concept for our new owners. I would take their statements of support for rafa with a huge pinch of salt. I still expect a new manager come next season.

[kurtangle01]

The problem we have is that they've come in promising all sorts. I'm sure they did this with parry and moores to secure the deal and get their hands on the club.

Key to this:

1) They said they wouldn't laden the club with debt (looks like they are going to)
2) Rafa would be properly supported - he clearly isn't being.

To paraphrase Goebbels: "If you tell a lie big enough and keep repeating it people will believe it".

Truth is obviously a fluid concept for our new owners. I would take their statements of support for rafa with a huge pinch of salt. I still expect a new manager come next season.

As daft as this sounds perhaps the only reason they are suddenly behind Rafa again is because they knew that if he was to be shown the door at the same time they 'downgraded' the stadium plans there would be a huge amount of criticism thrown at them?