New global corp sponsor revealed Sept 18th!!

[Lecter]

Where does that come from Lecter?

See RAWK

They are 100% bonafide genuine imo

[Lecter]

If those figures are true, we're in big big trouble.

They're banking on PIK loans on a 15% interest rate, **** me. I guess this why RBS demanded that they reduce the debt, they didn't want them to go along with it.

Indeed

There is lots there that does not make good reading in the long term

[Scratch]

Blimey mate, politicans must have a field day with you.

Aye, cos i can think for myself and not believe everything i read in the papers and on football forums that have a hatred for the yanks and will jump on any rumour so long as it fuels their motives. God help us if you ever become a lucid, thought provoking poster, rather than the argumentative soul that you currently are.

[Scratch]

See RAWK

They are 100% bonafide genuine imo

I personally believe them to be fake, but every one will read them differently.

[BrianF80]

I personally believe them to be fake, but every one will read them differently.

They look legitimate, but you are right people will interpret the numbers to confirm whatever their hypothesis is.

This looks like something they put together to drum up PIK funding to make up the money that RBS insisted the pay down.

[Scratch]

They look legitimate, but you are right people will interpret the numbers to confirm whatever their hypothesis is.

Just reading the Rawk thread, and it appears that the info orginally came from another site, not Rawk...and not a popular one amongst reds?

[BrianF80]

Just reading the Rawk thread, and it appears that the info orginally came from another site, not Rawk...and not a popular one amongst reds?

It came from Lecter so I would assume it came from 'the other place'.

[Lecter]

I personally believe them to be fake, but every one will read them differently.

You seriously believe that someone would go through the hassle of making all that sh!t up??

[Scratch]

It came from Lecter so I would assume it came from 'the other place'.

Yup, and it predates the Purslow appointment and the new loan deal with RBS...apparently the source has had the info for months and has decided to post it now.

[Reece]

You seriously believe that someone would go through the hassle of making all that sh!t up??

Rick Parry might?

[Lecter]

Yup, and it predates the Purslow appointment and the new loan deal with RBS...apparently the source has had the info for months and has decided to post it now.

The document is 28 pages long (so unless some lunatic has escaped from Wnnock I think we can discount it being fake)

IF you actually look at those figures it would indicate good reasons why RBS insisted the loan was reduced

[Lecter]

Rick Parry might?

[Scratch]

The document is 28 pages long (so unless some lunatic has escaped from Wnnock I think we can discount it being fake)

IF you actually look at those figures it would indicate good reasons why RBS insisted the loan was reduced

I don't know, i can think of many reasons why people would make something like this up, especially if it serves to drive an agenda.

However, assuming it is true, the fact that it predates any loan deals with RBS, the sponsership deals with SC and the appointment of Purslow, it is pretty much an irrelevant document now.

[Lecter]

I don't know, i can think of many reasons why people would make something like this up, especially if it serves to drive an agenda.

However, assuming it is true, the fact that it predates any loan deals with RBS, the sponsership deals with SC and the appointment of Purslow, it is pretty much an irrelevant document now.

Well considering the RBS loan will no doubt be less favourable than the previous one

Considering that the financial information already factors in a renewal of the sponsorship to a value of £14 million per annum

As for Purslow is this the same Purslow who is reportedly an "expert" at tarting companies up before a sale

I'd say its pretty relevant and whats more it tends to rubbish the theory that the owners dont want to sell and that there are hosts of buyers knocking down the door

Read those figures its pretty much valuing the club at £300 million

[Lecter]

I'd also say that the use of PIK's puts the owners in an even worse light than they already have been

On the financial forecast summary it appears the owners are paying off loan term A and putting a proportion of that money into the PIK facility (which is at a higher interest rate)

If you look at the PIK it increased by £50 million upto July 2009 (incidentally this is the amount the loan to RBS was reduced by) from there on in they are increasing the PIK facility whilst decreasing their loan term A

For those that dont know what a PIK is “In leveraged buy-outs, a PIK loan is used if the purchase price of the target exceeds leverage levels up to which lenders are willing to provide a senior loan, a second lien loan, or a mezzanine loan, or if there is no cash flow available to service a loan.”

Presumably the source of the PIK loan is from Kop Holdings (Cayman), ie funded through H&G borrowing elsewhere at a cheaper rate, then making a % on the turn as they flick the debt to LFC.

Quite a trick, really, to borrow money to buy a club, lend that money to the holding company and make a profit on it in the meantime. No ****ing good if you're the company in question though.

Also if you read the final page there is no chance of the stadium before 2012