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Just now, 500bhp said:

The Athletic article by Chirs Waugh, I think. 10 points deduction if we didn't raise the funds, 48 hours to do it, serious concerns we might not do it. That type of thing. It was covered in the other thread. 

We did raise the funds by selling two players who are quite trivial to us at this stage. 
 

Also, the counter point is who wouldn’t you have bought to cover the shortfall? You can’t have it both ways. 

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10 minutes ago, 500bhp said:

Someone had to pay for the PSR fuck up last week. Hope it's wasn't Wor Mandy.

 

The club not knowing on the morning of the 29th whether or not it could make the necessary sales is very bad management, putting it mildly. I'm sure that didn't go down well in SA. 

I don't see how it could be this.  Even if there was a fall out from that they could not force them to sell up over it.

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14 minutes ago, 500bhp said:

Someone had to pay for the PSR fuck up last week. Hope it's wasn't Wor Mandy.

 

The club not knowing on the morning of the 29th whether or not it could make the necessary sales is very bad management, putting it mildly. I'm sure that didn't go down well in SA. 

You could be right, but I don't think it's right to assume the PSR situation was seen as a disgrace internally.

 

I think it was a product of taking calculated risks, which nearly/sort of didn't come off, but if all the stakeholders were aware of those risks and signed off on them going into it, then there wouldn't be any need for recriminations, if they're being mature. Speculate to accumulate will pick you up some bruises along the way.

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10 minutes ago, r0cafella said:

We did raise the funds by selling two players who are quite trivial to us at this stage. 
 

Also, the counter point is who wouldn’t you have bought to cover the shortfall? You can’t have it both ways. 

The club will have known from September 2023 onwards there was a PSR deficit. The actual amount will have been clearer from December 2023 once we were out of Europe. And again in February 2024 after the winter transfer window closed. Raising the required funds on the day or the deadline is very risky. Maybe beyond the risk appetite of PIF, who knows.

 

It's old news now and I hope this is not linked to Amanda leaving. I'm sure it's not. 

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I assume it's a bit of everything.

 

Amanda needs the money.

Amanda was always going to transition out.

The club needs the investment for infrastructure.

We didn't achieve our playing goals this season for the men's team (I don't think we budgeted for being out of Europe in 2024 AND not qualifying for Europe in 24/25).

PSR & transfers situation.

 

"Thanks Amanda for getting us here."

 

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31 minutes ago, The College Dropout said:

I assume it's a bit of everything.

 

Amanda needs the money.

Amanda was always going to transition out.

The club needs the investment for infrastructure.

We didn't achieve our playing goals this season for the men's team (I don't think we budgeted for being out of Europe in 2024 AND not qualifying for Europe in 24/25).

PSR & transfers situation.

 

"Thanks Amanda for getting us here."

 

I'm sure the Amazon documentary showed a part where the budget guy stated new entrants into the champions league see a dip in league performance the following year. 

 

I'm sure they would have hoped for Europe but catered for the worst

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I'm sure that there were a few calculated risks taken, starting from buying the club when in a perilous position. Any players you buy are a big risk and so it goes on. Regardless of all of this Amanda and her team have done incredibly well and I can't see them being moved because PIF aren't happy with their performance.

I can't help thinking that the court case with the Greek guy could have pushed Amanda into a corner but I'm sure all will be relieved.

Regardless, I will be eternally grateful for what they've done here

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Never mind not having the money to invest further, PCP don't have the money to keep the 6% they had.

 

PCP's latest accounts from Companies House (to Jan-22, they've extended their accounting period and no filings since) show that NUFC looks to be the only investment in their portfolio.

 

Simplifying their balance sheet it looks something like this:

image.png.c07f8ad6df02c398ca6c30232867807a.png

 

She simply doesn't have the capital to pay off RB to even secure the previous 6% stake she had in the club previously.

 

With significant infrastructure investment likely on the horizon, the club valuation would be unlikely to increase at the same rate as investment until the completion of the infrastructure into a useable asset.

 

This means that the interest on the loan would likely increase faster than than the increase in the valuation of the club (especially as her shares dilute) and would likely be underwater in the investment putting her in a very precarious financial position.

  

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4 minutes ago, Eveready said:

Never mind not having the money to invest further, PCP don't have the money to keep the 6% they had.

 

PCP's latest accounts from Companies House (to Jan-22, they've extended their accounting period and no filings since) show that NUFC looks to be the only investment in their portfolio.

 

Simplifying their balance sheet it looks something like this:

image.png.c07f8ad6df02c398ca6c30232867807a.png

 

She simply doesn't have the capital to pay off RB to even secure the previous 6% stake she had in the club previously.

 

With significant infrastructure investment likely on the horizon, the club valuation would be unlikely to increase at the same rate as investment until the completion of the infrastructure into a useable asset.

 

This means that the interest on the loan would likely increase faster than than the increase in the valuation of the club (especially as her shares dilute) and would likely be underwater in the investment putting her in a very precarious financial position.

  


And despite all the speculation here this is the single most likely reason

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1 hour ago, RobsonsWonderland said:

I'm sure the Amazon documentary showed a part where the budget guy stated new entrants into the champions league see a dip in league performance the following year. 

 

I'm sure they would have hoped for Europe but catered for the worst

Eales said the aim was any European comp in Jan/Feb. That didn't seem aspirational.

 

Considering the flurry of transfer activity in Jan and June - I don't think we had long catered for the worst with PSR for this season. Europe impacts this seasons PSR.

 

 

I don't think that would be the primary reason anyway. But a contributory factor.

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14 minutes ago, The College Dropout said:

Eales said the aim was any European comp in Jan/Feb. That didn't seem aspirational.

 

Considering the flurry of transfer activity in Jan and June - I don't think we had long catered for the worst with PSR for this season. Europe impacts this seasons PSR.

 

 

I don't think that would be the primary reason anyway. But a contributory factor.


Qualifying for Europe wouldn’t have improved our 2023/24 accounts. It may have made things slightly worse if it had triggered some end of season bonuses.

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43 minutes ago, timeEd32 said:


Qualifying for Europe wouldn’t have improved our 2023/24 accounts. It may have made things slightly worse if it had triggered some end of season bonuses.

I was trying to say that point at the end there. Europe impacts 24/25.

 

It's no coincidence Eales started talking about trading once we were out of the CL last season.

 

Our summer activity would've predicated a longer European run that season imo.

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53 minutes ago, The College Dropout said:

I was trying to say that point at the end there. Europe impacts 24/25.

 

It's no coincidence Eales started talking about trading once we were out of the CL last season.

 

Our summer activity would've predicated a longer European run that season imo.


We got very unlucky with our group, but that was always possible being in pot 4. It’s a huge mistake if any of our summer business was based on reaching the knockout rounds, but I don’t know what to think anymore without more details from the accounts.

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3 minutes ago, rutland said:

 

Just from the thread.

 

Never mind not having the money to invest further, PCP don't have the money to keep the 6% they had. Ha Ha Ha Lol GIF by Lucas and Friends by RV AppStudios

They sold their shares to PIF. One of the richest people in football. How are you spinning that in to a bad thing? 

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10 minutes ago, gdm said:

Certainly someone that has no clue what they are talking about. Quite amusing 

 

Probably that bullshitter old bloke from rtg who gets everything spectacularly wrong, yet they all hang off his every word [emoji38]

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