Parky Posted September 25, 2007 Share Posted September 25, 2007 can't imagine it's a gift,more likely the debt is still there but owed to him instead of banks etc so we are probably saving on intrest How can the club owe him money? He owns the club outright. :giggle: Link to post Share on other sites More sharing options...
madras Posted September 25, 2007 Share Posted September 25, 2007 can't imagine it's a gift,more likely the debt is still there but owed to him instead of banks etc so we are probably saving on intrest How can the club owe him money? He owns the club outright. doesn't matter,a private individual gave money to a business.he is running it as a business therefore he will want the money back at some point. Link to post Share on other sites More sharing options...
Cronky Posted September 25, 2007 Share Posted September 25, 2007 That's a very interesting article. I think Ashley's policy of clearing the debt and then running the club on business lines is the right approach. It's a bit annoying though to learn that the club had spent on the basis of future income and was teetering on the edge of serious trouble. The Halls at least recognised that they're reached the end of the road and were prepared to sell out to a bigger player. Shepherd was saying he'd never sell, having convinced himself that he was still the only man for the job despite the fact he clearly didn't have the resources. He's a stubborn fool who could have led us down the Ridsdale path. Link to post Share on other sites More sharing options...
NG32 Posted September 25, 2007 Share Posted September 25, 2007 doesn't matter,a private individual gave money to a business.he is running it as a business therefore he will want the money back at some point. Aye but he will only be able to get some of it back by first clearing the STUPID debt we had. Once the debt is sorted out we can move forward. Link to post Share on other sites More sharing options...
Guest alex Posted September 25, 2007 Share Posted September 25, 2007 can't imagine it's a gift,more likely the debt is still there but owed to him instead of banks etc so we are probably saving on intrest How can the club owe him money? He owns the club outright. doesn't matter,a private individual gave money to a business.he is running it as a business therefore he will want the money back at some point. He'll want a return on his investment I should think but the club doesn't 'owe' him money. He owns the club so it's really a case of him no longer owing the banks the money the club was in debt. I'm not just being pedantic, there's a big difference. The scenario you give could happen if, for example, someone on the board loaned the club money when it was a PLC. In this case the club doesn't owe anyone anything (more or less) any more. Link to post Share on other sites More sharing options...
Parky Posted September 25, 2007 Share Posted September 25, 2007 can't imagine it's a gift,more likely the debt is still there but owed to him instead of banks etc so we are probably saving on intrest How can the club owe him money? He owns the club outright. doesn't matter,a private individual gave money to a business.he is running it as a business therefore he will want the money back at some point. He'll want a return on his investment I should think but the club doesn't 'owe' him money. He owns the club so it's really a case of him no longer owing the banks the money the club was in debt. I'm not just being pedantic, there's a big difference. The scenario you give could happen if, for example, someone on the board loaned the club money when it was a PLC. In this case the club doesn't owe anyone anything (more or less) any more. Yup. Link to post Share on other sites More sharing options...
Dragon55544 Posted September 25, 2007 Share Posted September 25, 2007 Mort does sound like a decent and honest bloke tbf, Its more good positive news. The past few months have been amazing, A new good manager then we are taken over by a billionaire then we have a great transfer window and start the league well and now our debts have been paid off. Interesting to here Mort say we'll only spend what we got and not spend the money before we get it, Quite a few clubs have spent the money before they have recieved it. Link to post Share on other sites More sharing options...
Decky Posted September 25, 2007 Share Posted September 25, 2007 What does it mean for the club to fold? Link to post Share on other sites More sharing options...
NG32 Posted September 25, 2007 Share Posted September 25, 2007 What does it mean for the club to fold? Leeds'esq Link to post Share on other sites More sharing options...
Guest Knightrider Posted September 25, 2007 Share Posted September 25, 2007 Debt free, at last. This gesture by Ashley suggests to me he is very much in it for the long haul. Great news alround and a nice boost ahead of tonight's match with Arsenal. Link to post Share on other sites More sharing options...
Parky Posted September 25, 2007 Share Posted September 25, 2007 Debt free, at last. This gesture by Ashley suggests to me he is very much in it for the long haul. Great news alround and a nice boost ahead of tonight's match with Arsenal. Link to post Share on other sites More sharing options...
Dokko Posted September 25, 2007 Share Posted September 25, 2007 can't imagine it's a gift,more likely the debt is still there but owed to him instead of banks etc so we are probably saving on intrest How can the club owe him money? He owns the club outright. doesn't matter,a private individual gave money to a business.he is running it as a business therefore he will want the money back at some point. He'll want a return on his investment I should think but the club doesn't 'owe' him money. He owns the club so it's really a case of him no longer owing the banks the money the club was in debt. I'm not just being pedantic, there's a big difference. The scenario you give could happen if, for example, someone on the board loaned the club money when it was a PLC. In this case the club doesn't owe anyone anything (more or less) any more. My take on it is that he bought the club with the debt, now the club is free of debt its worth £75m more (or however much he's paid off) pushing the clubs worth over the £200m mark. I agree, the club don't owe him money, its like saying Chelsea owe Roman money, if so they are well and truly fuked. Link to post Share on other sites More sharing options...
madras Posted September 25, 2007 Share Posted September 25, 2007 can't imagine it's a gift,more likely the debt is still there but owed to him instead of banks etc so we are probably saving on intrest How can the club owe him money? He owns the club outright. doesn't matter,a private individual gave money to a business.he is running it as a business therefore he will want the money back at some point. He'll want a return on his investment I should think but the club doesn't 'owe' him money. He owns the club so it's really a case of him no longer owing the banks the money the club was in debt. I'm not just being pedantic, there's a big difference. The scenario you give could happen if, for example, someone on the board loaned the club money when it was a PLC. In this case the club doesn't owe anyone anything (more or less) any more. aye, i suppose Link to post Share on other sites More sharing options...
Leazes1986 Posted September 25, 2007 Share Posted September 25, 2007 Can't thank him enough for this. Superb. Link to post Share on other sites More sharing options...
Decky Posted September 25, 2007 Share Posted September 25, 2007 Surely Ashley cements legendary status? Spending money on players in the summer and he promises in January, and clearing out debts. He has given us a very good future and we could finally end up winning silverware. Link to post Share on other sites More sharing options...
Dokko Posted September 25, 2007 Share Posted September 25, 2007 Very revealing article indeed. I love the last line btw. So did i. Link to post Share on other sites More sharing options...
quayside Posted September 25, 2007 Share Posted September 25, 2007 can't imagine it's a gift,more likely the debt is still there but owed to him instead of banks etc so we are probably saving on intrest How can the club owe him money? He owns the club outright. doesn't matter,a private individual gave money to a business.he is running it as a business therefore he will want the money back at some point. He'll want a return on his investment I should think but the club doesn't 'owe' him money. He owns the club so it's really a case of him no longer owing the banks the money the club was in debt. I'm not just being pedantic, there's a big difference. The scenario you give could happen if, for example, someone on the board loaned the club money when it was a PLC. In this case the club doesn't owe anyone anything (more or less) any more. My take on it is that he bought the club with the debt, now the club is free of debt its worth £75m more (or however much he's paid off) pushing the clubs worth over the £200m mark. I agree, the club don't owe him money, its like saying Chelsea owe Roman money, if so they are well and truly fuked. It depends whether he put the money in as share capital or not. If he did then the club doesn't owe him the money. If he didn't put it in as share capital then it will be in there as a loan from the owner and if anyone buys the club then that money forms part of the debts. Plenty of businesses are financed by loans from the person or persons who own them. Link to post Share on other sites More sharing options...
Guest Knightrider Posted September 25, 2007 Share Posted September 25, 2007 We will now take on the form of a juggernaut and not a rusting old Transit in terms of progression off the field. Watch this space. Link to post Share on other sites More sharing options...
Baggio Posted September 25, 2007 Share Posted September 25, 2007 It was the main reason I wanted a takeover, the clubs debts were something that could hold us back if it wasn't paid off sooner rather than later. I'm not sure if the club would have folded or not as the new tv money would have came in just in time, we would have been fucked without it though. Link to post Share on other sites More sharing options...
Dokko Posted September 25, 2007 Share Posted September 25, 2007 can't imagine it's a gift,more likely the debt is still there but owed to him instead of banks etc so we are probably saving on intrest How can the club owe him money? He owns the club outright. doesn't matter,a private individual gave money to a business.he is running it as a business therefore he will want the money back at some point. He'll want a return on his investment I should think but the club doesn't 'owe' him money. He owns the club so it's really a case of him no longer owing the banks the money the club was in debt. I'm not just being pedantic, there's a big difference. The scenario you give could happen if, for example, someone on the board loaned the club money when it was a PLC. In this case the club doesn't owe anyone anything (more or less) any more. My take on it is that he bought the club with the debt, now the club is free of debt its worth £75m more (or however much he's paid off) pushing the clubs worth over the £200m mark. I agree, the club don't owe him money, its like saying Chelsea owe Roman money, if so they are well and truly fuked. It depends whether he put the money in as share capital or not. If he did then the club doesn't owe him the money. If he didn't put it in as share capital then it will be in there as a loan from the owner and if anyone buys the club then that money forms part of the debts. Plenty of businesses are financed by loans from the person or persons who own them. He could of possibly done that, if he wasn't too committed to the club. However from the vibes you get from his camp, you get the feeling he's loving this, and wants to be here for a long time. I just think him investing more money shows his commitment, but also would ward off potential buyers as the clubs value has just rocketed because of his two cash investments. Link to post Share on other sites More sharing options...
Guest Knightrider Posted September 25, 2007 Share Posted September 25, 2007 Regarding Mort, just how down to earth and sensible does he seem? No soundbites, no big talk, no promises, no bigging anything up, just plain old straight to the point sensible talk. Very refreshing. I mean many new owners/chairman would on the back of "almost going bust" comments take that opportunity to build themselves up as a saviour to be thanked eternally and to ridicule the old board. Link to post Share on other sites More sharing options...
Dokko Posted September 25, 2007 Share Posted September 25, 2007 It was the main reason I wanted a takeover, the clubs debts were something that could hold us back if it wasn't paid off sooner rather than later. I'm not sure if the club would have folded or not as the new tv money would have came in just in time, we would have been fucked without it though. Certainly, how on earth FS slept at night i do not know. He must be glad as a fan to have sold when he did. Link to post Share on other sites More sharing options...
Parky Posted September 25, 2007 Share Posted September 25, 2007 It was the main reason I wanted a takeover, the clubs debts were something that could hold us back if it wasn't paid off sooner rather than later. I'm not sure if the club would have folded or not as the new tv money would have came in just in time, we would have been fucked without it though. Certainly, how on earth FS slept at night i do not know. He must be glad as a fan to have sold when he did. If you want to look at a club servicing massive debt look no further than ManU. Link to post Share on other sites More sharing options...
Dokko Posted September 25, 2007 Share Posted September 25, 2007 It was the main reason I wanted a takeover, the clubs debts were something that could hold us back if it wasn't paid off sooner rather than later. I'm not sure if the club would have folded or not as the new tv money would have came in just in time, we would have been fucked without it though. Certainly, how on earth FS slept at night i do not know. He must be glad as a fan to have sold when he did. If you want to look at a club servicing massive debt look no further than ManU. £20m a year on interest alone last i heard. But Manu can just about afford to live like that. I don't think it will be long until ownership changes hands again, 3-4 years max. Link to post Share on other sites More sharing options...
Skirge Posted September 25, 2007 Share Posted September 25, 2007 :clap: :clap: :clap: :clap: :thup: Link to post Share on other sites More sharing options...
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